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013 G S, m6
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Originally Posted by Racingswh
(Post 1586023254)
, made more money through investments last year
often times they either don't understand about the opportunity cost of paying cash. |
Paid $1000.00 on her the night we met, and the balance 3 days later when the lottery check cleared. :rock:
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Originally Posted by Racingswh
(Post 1586023254)
Some people are more comfortable without payments. They like owning their cars. I don't think these types of threads are meant to be something where a person looks for sound financial planning or investment strategy. The fact that in the past couple of years if a person had the money invested properly that they used to pay cash for a Corvette, or whatever car, they would now have the cash equivalent of nearly two cars doesn't mean a whole lot to them. Some, like one of my best friends, made more money through investments last year than he earned as an executive in the insurance industry and hasn't had a car payment since 96'. He even owns his house if you can imagine. Doesn't like payments. That's the way he rolls.
Just because to you it's identified as a poor investment strategy for many it makes them feel secure and often times they either don't understand or care about the opportunity cost of paying cash. I for one am happy for these guys and girls that can afford what they enjoy. Which I mean, congrats to them for saving that much money so they can pay cash (I could never do that, I like spending money too much). However "winning" is actually being able to stretch your dollar as far as possible (without actually being in over your head). Credit is a tool, to not use it is as foolish as to use it poorly. The point then moves on to how the people who paid in cash shouldn't be proud of it, as its less of an accomplishment than having a low interest loan, and beating the rate with your investments. Of course, the people who paid in cash don't like when they are told that because it "rains on their parade" of how they never owed anyone anything. Obviously none of this applies to people on a "fixed" income (retirement, SSI, etc) as the money (and interest) they have is needed to pay for "regular" expenses. Paying in cash in that case is a very good thing! (I don't think I'm really disagreeing here, just playing the advocate for the loan people). |
I'm almost embarrased to say everything I have is paid for. It wasn't always that way. I took my QE3 enhanced money from the market and paid everything off. I have no trust in this administration and maybe I should because they are still pumping $85 billion dollars in securities a month. All tax payer, printed or borrowed money. Sorry to make this political.
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Originally Posted by red2012
(Post 1586019266)
Thats the best statement in this thread. Everybody that posts 'left dealership paid in full' 'left with title in hand' and so forth is the most asinine statements I have ever read and makes no business sense at all. I wonder how these people made the money in the first place to buy the car cash if they live their lives with this business practice. 'Left dealership paid in full' is one bragging right ( and thats all that it is ) I don't ever want to boast about. I'll leave my money where I have it and make 5 times what it would have cost me to but the car cash. I would have thought forum members would have more sense than this.
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Originally Posted by johnny3
(Post 1586023598)
What did the O P name his thread??? Why did you even participate? Yes you could call it a braggerts thread. "I make 5 times on my investments" so I finance...bragging jealiously I'd say...start your on thread then, but remember business man investor"never borrow money on depreciating property".
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Originally Posted by red2012
(Post 1586023752)
I've ranted enough in this thread and I'm done.
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1 Attachment(s)
She's all mine!
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Originally Posted by Red2012
"Left dealership paid in full" "left with title in hand"...is the most asinine statements...and makes no business sense at all. I wonder how these people made the money in the first place...if they live their lives with this business practice. I would have thought forum members would have more sense than this. Etc., etc. The bottom line is, the fellows and gals in this thread who paid for their Vette the day they bought it (or very shortly thereafter) have obviously been doing something right from a financial and "business sense" perspective in order to have the money available to do so. Thus, my guess would be that they're probably not really in need of any of your business "advice" or admonitions. Money talks...BS walks. Regards, -Ward |
Originally Posted by Ward Cleaver
(Post 1586024299)
http://i174.photobucket.com/albums/w...pscdc8aa27.jpg
The bottom line is, the fellows and gals in this thread who paid for their Vette the day they bought it (or very shortly thereafter) have obviously been doing something right from a financial and "business sense" perspective in order to have the money available to do so. Thus, my guess would be that they're probably not really in need of any of your business "advice" or admonitions. Money talks...BS walks. Regards, -Ward |
Originally Posted by Ward Cleaver
(Post 1586024299)
The bottom line is, the fellows and gals in this thread who paid for their Vette the day they bought it (or very shortly thereafter) have obviously been doing something right from a financial and "business sense" perspective in order to have the money available to do so. Regards, -Ward We probably won't hear from the guys who financed a Vette, put $50K in the stock market and lossed their ass, and wished they would have just paid cash...grin |
Originally Posted by red2012
(Post 1586019266)
Thats the best statement in this thread. Everybody that posts 'left dealership paid in full' 'left with title in hand' and so forth is the most asinine statements I have ever read and makes no business sense at all. I wonder how these people made the money in the first place to buy the car cash if they live their lives with this business practice. 'Left dealership paid in full' is one bragging right ( and thats all that it is ) I don't ever want to boast about. I'll leave my money where I have it and make 5 times what it would have cost me to but the car cash. I would have thought forum members would have more sense than this.
http://i67.photobucket.com/albums/h3...ps68b8a371.jpg |
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Originally Posted by US Icon
(Post 1586024592)
Well said. I think everyone here wins, both the guys who paid cash as well as the guys who financed their Vette and invested $50,000 that made them 40% (lol)
We probably won't hear from the guys who financed a Vette, put $50K in the stock market and lossed their ass, and wished they would have just paid cash...grin If your loan is 1-3 percent, you are typically beating inflation, which means your future payments are worth less than the original money so in the end you basically paid cash (which I think is the point of the "I don't think its a big deal you paid in cash" folks, as technically so did they). I'm just happy to have 3.75% on my home mortgage, in my mind I basically paid cash for it, because those payments 10+ years out are going to be paid with vastly devalued money versus today! Whoo hoo future value of money! Now I just need a way to afford a C7 Z06, cash, credit, arms, legs, or otherwise. |
Totally paid for C6
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What exactly is the point of this? "We've paid our cars off and the rest you are losers?"
Do you really need validation to prove how awesome you think you are? Geezus..... |
Originally Posted by 09C6inWA
(Post 1586028242)
What exactly is the point of this? "We've paid our cars off and the rest you are losers?"
Do you really need validation to prove how awesome you think you are? Geezus..... We make our decisions based on what is best for us. Attempting to convince others how much money you have (or wish you had) is plain silly! Everyone is rich on the internet. |
Originally Posted by 09C6inWA
(Post 1586028242)
What exactly is the point of this? "We've paid our cars off and the rest you are losers?"
Do you really need validation to prove how awesome you think you are? Geezus..... |
Drove mine off the dealer lot on a Tuesday with 5 miles on the odometer and left my daily driver (VW Jetta); took a cashier's check back the next day and drove the Jetta home...she's sitting in the garage now with over 126k miles on her now....
http://i190.photobucket.com/albums/z...osport2012.jpg |
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