7.9% seems a lot, that's their used financing interest rate I guess. I've been there and done that.
But you obviously have the money so...haters gonna hate and all that.
Finance works for a lot of people. It's only people on Ocuk living in the 1970s who don't know how finance works. It's not rocket science.
Paying cash for the full amount is always the most cost effective way. But on cars like this costing a lot of money then it makes sense to finance part of it.
It depends on what you're doing with your money - I'd rather keep it in investments than put more in the car... the 7.9% that's going to the finance company is a lot less than the return I'm getting on the cash.
If your savvy enough to earn 10% on your cash you are savvy enough to find a better deal on borrowing than 7.9% APR!
Also surely if there is a balloon then you have a PCP not HP?
I was very happy with 7.9%... especially after missing multiple payments on the Boxster... it's actually better than the rate I had on the Boxster.
It probably helped that I was able to pay the remaining amount in full. My rating is in the low 700s, so showing as "good" rather than "excellent" which would get the better rates.
You would probably be surprised with how easy it is to earn 10%/month... I was... I thought it would be a big risk - but after seeing a friend's portfolio who's been doing it a while - I went in with the same company he's been using, their algorithm has proved very reliable and this return is on a low risk basis - you can earn a hell of a lot more if you take more risk - but I'm keeping safe and letting their algorithm do all the work.
I'm learning how the markets work and have been given access to all their data - so looking at building my own more aggressive algorithm to play with - in the near future I'm going to take a percentage of my money and see what I can do on my own... trials so far have been positive - I'm aiming for outright house purchase in 5 years which seems doable even on the current model. Still know there's risk though, so I'm starting to distribute the return and set it aside... but this is an addition to employment income. I'm hoping to live off trading alone in a few years.
I'm a mathematician at heart and particularly good at statistics - so not worried about the math involved.
Take an amount you're not scared of losing and try it for yourself. It's easy to lose money quickly if you're not careful, but be careful and the reward can be wonderful.
No - it's HP + balloon... same style we're getting on the Caterham - it's Caterham where I learnt about that style.
It is quite similar to PCP.
It wasn't long after that post I got the notice I won my appeal and the payment... 70% of a Swiss contractor rate backdated for about 8 months is a nice sum of money
That paid off the debt on the Boxster and the rest was able to go into trading as I had secured a decent contract.
Contractor lifestyle m8.
If was raking in £500 day rate then I'd be driving round in a Porsche as well.
Yup... I found it a nightmare to land another in Switz - but back here and I found a reliable client in 3 days.
500 a day is not enough to drive a GT3
Yes it is... that's £10k a month... but I'm a senior with specialist knowledge & finance/phrama experience - so the rates tend to be in the £600-800/day range. I landed a 3 year 5 day a week contract after the 3 month trial period, which is what got me the finance approval. They only wanted 3 month payment history which is what I was able to provide... so I was chuffed... I was expecting to get rejected but went for it anyway.
If he works 5 days a week at that rate and he prioritises his car then it's probably doable I should think. You've got more experience with that sort car than I do though
Yup - I don't like spending much on rent, even with a decent expendable income - I don't like paying someone else's mortgage... I'd rather spend less now and put more towards my own house later. My house is only £1100/month.
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
This quote above makes me sad as my mortgage is also £1100 a month or there abouts which is a bit more than a quarter of my monthly take home, even though I own more than 50% of it I still have around 20 years before I will own it outright