DaveDMW

Pay cash for toys.

Korbek

Impala. (As in the car).

Impaler ( Im - pay - ler) doesnt even rhyme gramps. Imagine if impaler was the lyrics lol. Vlad the impaler riding on 20 inch blades to impale his victims I guess?



(The gramps is tongue in cheek)

mnm4ever

I believe the lyrics are “gonna be a ballA, shot callA, 20 inch blades, on the ImpalA”

No R’s so it all rhymes 😎

mnm4ever

Ha good move! That was me… thinking I was slick keeping all my car cash in my rapidly swelling investment account while I was waiting for my C8 to be built. A couple of months before the car should be done, my wife is asking one of her open ended questions and wants to know if I have all the cash to buy the car and I say don’t worry it’s invested. She says well shouldn’t you take it out of the investments so you have it to buy the car. No I say, it’s still growing and I have plenty of time to take it out before the car is ready. She says she doesn’t like that idea, we should have the cash ready. I say no, it’s fine. Worse case scenario I’ll just finance it and then deal with the cash later. She says she still doesn’t like that idea but I can do what I think is best. A month later the markets tank. Car fund drops 20%. Two days later I get the email that my car is built. I was trying to be greedy for an extra few $$ and now I’m just hoping the car fund goes back to where it was before the dump. And yea yea I have the money it’s just the principle of it, I want to only use my car fund. That’s my play money. Plus everything else dropped too so I’m in the same boat for every investment. The best part is how I get to hear from her every few days how she took HER play money out early in anticipation of the expenses she was planning so she didn’t lose anything. After 20 yrs of marriage you think I would learn by now to listen to her.

gchu

Sold my Facebook stock just before they switched to focusing on the Metaverse.... So based on their stock performance (and the gain from my initial investment), in my head, my C8 cost me about 25% of MSRP LOL

Sub Driver

Is it a rule that every couple of weeks someone has to start a thread about this topic?

Just asking.

Korbek

Yep, one of those unwritten rules of C8 forum. As is the mandatory daily thread about auto trader listings at MSRP.

JKU007FL

Well said. Also, the OP asked if buying cash of finance not what's your current terms; and immediately the condescending replies of who got the lowest APR, how it helps the OP?

Blackwater0323

Debt is economic slavery. You are controlled by the people who print currency out of thin air. The best feeling is not to have debt and live within your means. Planning future purchases is easier. Toys should never be financed.

rkrupka

Debt is merely a tool that can be utilized when in makes sense - tools can be used well or abused, but life in much better for those that can utilize tools.

TBD

…no, I am KIDDING! But I am rather envious of your wife’s SVR. Just bought a ‘23 F Pace S and ❤️❤️❤️ it!

Cheers!

PS: Might buy some SVR badging and pretend…
(Kidding, again!).

JDSKY

Once you start out with some debt it gets easier for most people to just keep riding that train. Some never get off until their time is done. It's also easy to justify by saying it's financially smart or everyone does it so why not me? The problem is the majority that have the cash do not take that cash they would have used to buy the car and buy stocks or investments and hold them. If you don't have the cash to buy because it is invested that is also a valid strategy. Most do not.

The vette is a toy. I buy toys with cash and don't feel I am a baller or rich, just practical and a lifelong saver/investor. Once you are debt free and experience the freedom that goes with it then taking on debt is just not as easy. I would hate to go back to making monthly loan payments of any kind ever again. Would just go without any toy and find something else to do with my time before paying someone else a nice return on their cash.

rkrupka

Debt is merely a tool that can be utilized when it makes sense - tools can be used well or abused, but life is much better for those that can utilize tools.

rkrupka

Some reasons to take on debt off the top of my head ....
- education
- home purchase
- credit cards
- business loan
- asset loan with arbitrage

Mark Carlson

I used to know an obese person who went to all you can eat buffets to motivate herself to go on a diet. It worked for her, so I'm sure it would work for everyone. She's dead at age 35, but YMMV.

Mr DJ

Thank you, TBD...

The F-Pace S is also a sweet puppy; since you're a Jag Man, you know about their Flagship: F-Type R! Well, my wife has that one also and another F-Pace, a diesel. Yes, she has 3 freakin' Jags; check my 44 sec Vlog below, she's racing me in my C7 GS; guess who won

rogue3standingby

If you can finance for a small fraction of the rate of inflation, you're mathematically winning. Pay today's price with tomorrow's devalued dollars.

Majestic94

Don’t agree with the education or credit cards. Unlike cars; those things have no tangible value. If you get in a pinch and need to sell your financed asset, there’s nothing to sell.

Jcgreen

The way I look at the present situation is the rates on Commercial CDs in some cases are near or at 5% if I invest in say a 3 or 5 year CD and take the car loan at 7% I will still be at an effective rate of 2%.

Majestic94

The only difference between having a loan payment is the cost of financing. That’s it. People probably spend more on PPF than their interest costs.

You can have the cash in hand and still not necessarily afford the car.

If you have the means it’s ok to finances the car so you can enjoy it now rather than years from now. Contrary to popular belief, we’re not actually immortal. Time is of the essence.