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Discussion Starter · #1 ·
Have had my 09' for almost a year. Love the car. Has all the right (minor) mods and has been flawless.

I don't drive it much. I buy a "fun" car almost every year...Like to try different things. My "fun" cars have always been paid for.

So...My business has been doing well the last few years...And I found out about long term exotic car financing.

Would love a MP4-12C. They really are a lot of car for the money. Found a flawless 2012. Sticker was near $280K and I could get for $160K. It's the "right" car.

They will give me great money on my GTR (won't lose anything on it) and a great deal on the MP4.

But two things are stopping me. The financing part and the "what will people think"? part.

I'm sure I won't have this car for more for more than a year or so. So it's the cost of ownership. It shouldn't lose too much value. It's not the money.

On the fence but excited about potentially having something I thought I never would have in my lifetime.

Thoughts? Sorry for the rambling. It's early here. Lol.
 

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Do it! If ur not losing on the Gtr time to do it!

Only live once.

My only unknown is what rate is the long term finance? In one year you might not even make a dent on principal but grow ur debt on the depreciating asset.

Under 3%?

But if u have equity on trade getting out in a year might just break even.
 

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Discussion Starter · #3 ·
Mon you are right. I won't put much of a dent in the principal.

My GTR would break even...Just the cost of the maint. / insurance / etc. I have done on it.

Just looking at it like it will cost me approx. $900 / mo. to have the MP4. I'll probably sell it in a year or two. I'm sure it'll drop more too in value. So probably cost me $10K to have it per year at least. I can afford this "hobby" so it won't affect my life, kids, etc.

There's the guilt too. I have never thrown money away like this either. Usually have made great car decisions, paid for them, etc.

But you only live once. Life is short and getting shorter (46 now).

Thinking...
 

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I'm interested also. So you can get a 160k car with no down pymt for $900 a month ? Teach me please

Sent from my SCH-I545 using GT-R Life mobile app
 

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Financing will make them MONEY AND NOT RETIRE PRICIPAL..............
Don't drive it to work so....................... WHO CARES.......
I always had toys and drove to work in old beaters............
 

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I'm interested also. So you can get a 160k car with no down pymt for $900 a month ? Teach me please

Sent from my SCH-I545 using GT-R Life mobile app
he is trading in his GTR. But still, he will be loaning at least 100k. I can't see a payment of 900 dollars unless he finance it for 10 years.
 

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Perhaps he meant a $900 actual COST per month. As in, deprecation, interest, and maintence? Payment would definitely be more like $1,500-$2,000 depending on terms
 

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Have had my 09' for almost a year. Love the car. Has all the right (minor) mods and has been flawless.

I don't drive it much. I buy a "fun" car almost every year...Like to try different things. My "fun" cars have always been paid for.

So...My business has been doing well the last few years...And I found out about long term exotic car financing.

Would love a MP4-12C. They really are a lot of car for the money. Found a flawless 2012. Sticker was near $280K and I could get for $160K. It's the "right" car.

They will give me great money on my GTR (won't lose anything on it) and a great deal on the MP4.

But two things are stopping me. The financing part and the "what will people think"? part.

I'm sure I won't have this car for more for more than a year or so. So it's the cost of ownership. It shouldn't lose too much value. It's not the money.

On the fence but excited about potentially having something I thought I never would have in my lifetime.

Thoughts? Sorry for the rambling. It's early here. Lol.
Look into Montana registration

There are law firms that start LLC's in that state and you register the car in that state.

Save you on paying tax on the car which at 160k is a good amount.

I'm not a tax lawyer or professional but it's been done frequently.

It will help defer the cost of selling the car after a year.
 

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I say do it as you only live once. I'm sure it's not your only vehicle so it won't be daily driven. your family is well cared for from the sound of it, so why not treat yourself. As you stated, it's only for a year.
 

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Why wouldn't you just lease it, since most of the depreciation is probably done? Especially if your going to be out in a year. If by chance it gets in an accident the hit could be pretty big to the value...why risk it? At least then you can give it back at the end of the lease. Then you only pay tax on the lease amount.
 

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Discussion Starter · #14 ·
Deposit made. Crazy story but bought 1/8 mile from my office!! 1800 miles. 2012. CRAZY options...Financing $100K for 12 years. 5.5%. Woodside Credit. State Farm insurance $143 month!









 

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Discussion Starter · #15 ·
Oh...And not sure it will be a year...That has just been my habit...But who knows?? I buy them "right" so I should not lose much. Same with this one...In the end high $160's on this out the door.
 

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Well...guess ignore more last post.

Congrats...it's beautiful!

Huge msrp...wow.
 

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$350k new? Holy shit. That's a ton of options. Not a fan of the looks personally, but congrats
 

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So it's really the wife's car...haha
 
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