High performance two-seat sports cars are a "discretionary" expense heading into a recession. I'm surprised it's only 10% actually, with over 1,000 cars in dealer inventory nationwide.
That noise you hear is the resale value of our cars going down the preverbial toilet.
The equity markets have taken a beat down, consumer confidence is weakening, credit tightening and other factors will hurt the sales of these luxury items.
is it dropping the interest rates bad? Isn't that just trying to get people to buy now and get them with a low rate, then later when they raise it back up(unless its a fixed Rate) won't that leave ppl stuck with a payment they can't afford and we will end up with a hit in the economy again. I heard that is wat is going to happen with the house mortgages to? Im just curious. I don't know too many facts and I was just curious what you thought. You can just pm, i dont want to jack the thread.
High performance two-seat sports cars are a "discretionary" expense heading into a recession. I'm surprised it's only 10% actually, with over 1,000 cars in dealer inventory nationwide.
That noise you hear is the resale value of our cars going down the preverbial toilet.
Lot more then 1000 new C6's for sale on the dealers lots. How about 7023 (23-2006, 1424-2007, 5576-2008).
4.9%? My local Credit Union has 5.39% for up to 60 months on home equity loans. Deducting interest in 30% tax bracket that's equivalent to 3.2% interest!
4.9%? My local Credit Union has 5.39% for up to 60 months on home equity loans. Deducting interest in 30% tax bracket that's equivalent to 3.2% interest!
My understanding of interest deduction elegibility on Federal taxes is that only home mortgage interest on loans of up to $1 million for a maximum of two homes is deductible. That can also include home equity lines of credit, but if ya read the fine print (or care, just in case you ever get audited....) the interest on HELOCs is deductible only if the principal is used for home improvements. Interest on other types of loans - like cars - is not deductible on Federal taxes as far as I know.
So - how do you figure the net cost using tax deductibility per your above statement? I'd love to join ya in that "benefit" since I'm in that 30% incremental Federal tax bracket too!
Sorry I didn't mean to offend the tax auditors/ attorneys on the Forum. Next time I’ll make sure to use a "Consult your tax adviser” disclaimer.
Obviously there are debt & income limits (related to interest deduction) but you can borrow money with a home equity loan use that money to buy a car and deduct the interest on the loan.
Sorry I didn't mean to offend the tax auditors/ attorneys on the Forum. Next time I’ll make sure to use a "Consult your tax adviser” disclaimer.
Obviously there are debt & income limits (related to interest deduction) but you can borrow money with a home equity loan use that money to buy a car and deduct the interest on the loan.
...............no need for insults - I'm neither an auditor nor an attorney!!
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Corvette sales down 10% in January
