i bought a 911 Targa 4 GTS at the beginning of 2022 and got a 2.9% loan from Porsche. Today, Porsche is financing at 7.25%. At some point, prices of these cars may have to soften a bit since some buyers won't be able to afford to pay as much. Although, a lot of luxury car buyers don't need to finance their purchases, there are probably still some who don't have the cash and need to borrow. Personally, I was ready to pay cash for my car, but when they offered me 2.9% I figured why not?? Today, if I bought that same car, I'd pay cash rather than pay 7.25%. What will be rough is if we get back to an environment where cars used to depreciate 50% over 3 or 4 years. That depreciation combined with high borrowing costs will be painful for some.
Sounds like you might understand this so maybe you can answer my question. Let's say I buy a GT3 for $250k. I put down $50k, and by the time I pay off another $50k, I'm $100k total into the car with a loan. Let's say I want to sell it and the price has either stayed the same or gone up, we'll say I can now sell the car for $275k. How does that work? What do I get from the sale? What does the bank get etc...
@@Sickwitit18 Pretty simple. You took out a $200K loan and paid off $50K, so still owe $150K... When you sell the car, you get $275K and pay off the $150K loan and keep the $125K difference...
Yeah, I've been looking for months now for a 911. Mind you, I have a perfect credit score for auto financing and am not officially applying for a loan or lease but them rates and down payments with inflation can't imagine paying 3k 4k a month for a car
I looked on Google for a company called creative finance. Couldn't find them. That company doesn't exist. Can you list the company that does exist please
@@heartsfaith7077 It's not a company name, silly...it's a strategy. Google should be able to tell you more if you specifically look for Subject to current financing or also Owner financing. Or, best bet is to do a youtube search for Pace Morby...he explains it better than anybody
I was driving a 992 Carrera S a while ago that was heavily modifed and the exhaust was so fucking loud when in sport mode. In sport mode it had a lot of burbles too, does the valvetronic have burbles? Ive been trying to figure out what system it had
In observing the economy in 2023....half of the country is pining for the next election. Forgive me If I appear to 'trigger the political card,' but it's not good when the government seems to print more paper money to feed the inflation rate. When inflation shows numbers where investors, whether exotic car hacking or Real Estate Investing, normal hard working class will fear to make the next step. But all respect given to Coach PJ. All respect and Nothing less. Porsche's are fun cars, but don't see myself investing in one personally. In general their contours and exterior I just don't find appealing, but they do sound good. Ferrari have only but a few and in-between, like the 588 Italia. Lambos...I'm staying away from the URUS and 'Gay'-ardo. SVJ, cool. The Performante, cool. The Huracan Evo - solid (But the thing about the Romans and their ideology with the bull ) .. Mclaren 600LT solid, 720S - solid. I know Coach hates Lotus, but have you laid your eyes on both the Evija and the Emira??
i bought a 911 Targa 4 GTS at the beginning of 2022 and got a 2.9% loan from Porsche. Today, Porsche is financing at 7.25%. At some point, prices of these cars may have to soften a bit since some buyers won't be able to afford to pay as much. Although, a lot of luxury car buyers don't need to finance their purchases, there are probably still some who don't have the cash and need to borrow. Personally, I was ready to pay cash for my car, but when they offered me 2.9% I figured why not?? Today, if I bought that same car, I'd pay cash rather than pay 7.25%. What will be rough is if we get back to an environment where cars used to depreciate 50% over 3 or 4 years. That depreciation combined with high borrowing costs will be painful for some.
Nice car congratulations. Cars definitely need to drop in price if these interest rates don’t
Can you please make a video on these lease deals you mention? Thanks
Sounds like you might understand this so maybe you can answer my question. Let's say I buy a GT3 for $250k. I put down $50k, and by the time I pay off another $50k, I'm $100k total into the car with a loan. Let's say I want to sell it and the price has either stayed the same or gone up, we'll say I can now sell the car for $275k. How does that work? What do I get from the sale? What does the bank get etc...
@@Sickwitit18 Pretty simple. You took out a $200K loan and paid off $50K, so still owe $150K... When you sell the car, you get $275K and pay off the $150K loan and keep the $125K difference...
Yeah, I've been looking for months now for a 911. Mind you, I have a perfect credit score for auto financing and am not officially applying for a loan or lease but them rates and down payments with inflation can't imagine paying 3k 4k a month for a car
Excellent video P. What car makers do you believe have already sealed their "fate" ?
Woodside credit is a good lender overall
Buy them thru creative finance! But them Subject to an existing note (with a low rate).
I looked on Google for a company called creative finance. Couldn't find them. That company doesn't exist. Can you list the company that does exist please
@@heartsfaith7077 It's not a company name, silly...it's a strategy. Google should be able to tell you more if you specifically look for Subject to current financing or also Owner financing. Or, best bet is to do a youtube search for Pace Morby...he explains it better than anybody
I was driving a 992 Carrera S a while ago that was heavily modifed and the exhaust was so fucking loud when in sport mode. In sport mode it had a lot of burbles too, does the valvetronic have burbles? Ive been trying to figure out what system it had
I get bubble guts after a night of beer and chili cheese fries... It sounds like that exact system
In observing the economy in 2023....half of the country is pining for the next election. Forgive me If I appear to 'trigger the political card,' but it's not good when the government seems to print more paper money to feed the inflation rate. When inflation shows numbers where investors, whether exotic car hacking or Real Estate Investing, normal hard working class will fear to make the next step. But all respect given to Coach PJ. All respect and Nothing less.
Porsche's are fun cars, but don't see myself investing in one personally. In general their contours and exterior I just don't find appealing, but they do sound good. Ferrari have only but a few and in-between, like the 588 Italia. Lambos...I'm staying away from the URUS and 'Gay'-ardo. SVJ, cool. The Performante, cool. The Huracan Evo - solid (But the thing about the Romans and their ideology with the bull ) .. Mclaren 600LT solid, 720S - solid. I know Coach hates Lotus, but have you laid your eyes on both the Evija and the Emira??
The ‘Gay’ ardo? Really?
Buy cash!
The rich don't use their money they use the banks.
Some people can make more on their cash than the interest rate they pay.
Yup if you're interest rate is less than 8% then you can take that and make 8% with the rest of your money in the S&P on average.