Are there banks that finance these old of cars?
10-21-2014, 03:01 PM
#16
It is always better borrowing money at 2%, as that is below the rate of inflation.
10-21-2014, 11:12 PM
#19
That may be true if you actually have a "...ton of cash..." that you are in fact investing. But, in my over 30 years as a Porsche and Ferrari owner, I have seen too many people finance a week-end toy car because they could not afford to pay cash. By the way, how much cash does one need for it to weigh a ton...and wouldn't that amount depend on the number and/or particular denomination of the bills? A ton of $1.00 bills would be a lot less than a ton of $100.00 bills...and how about coins...they are much heavier.
But honestly, even if you do finance something you can't afford; when the lender lets your hold the title free and clear you can just sell the car easily if financial trouble arises and pay off the loan. If you have to pay a depreciation difference then so what....people drive around in underwater Camrys and Accords all the time.
And just to humor you. All US bills when new weigh about 1 gram
A ton of 100's is $90.8 Million
A ton of 50's is $45.4 Million
A ton of 20's is $18.16 Million
A ton of 10's is $9.08 Million
A ton of 5's is $4.54 Million
A ton of 1's is $908,000
10-21-2014, 11:17 PM
#20
Nordschleife Master
I thought the only denomination available was the penny? You mean to tell me there are more forms of our currency than that? My employer has been lying to me!
But honestly, even if you do finance something you can't afford; when the lender lets your hold the title free and clear you can just sell the car easily if financial trouble arises. If you have to pay a depreciation difference then so what....people drive around in underwater Camrys and Accords all the time.
And just to humor you. All US bills when new weigh about 1 gram
A ton of 100's is $90.8 Million
A ton of 50's is $45.4 Million
A ton of 20's is $18.16 Million
A ton of 10's is $9.08 Million
A ton of 5's is $4.54 Million
A ton of 1's is $908,000
But honestly, even if you do finance something you can't afford; when the lender lets your hold the title free and clear you can just sell the car easily if financial trouble arises. If you have to pay a depreciation difference then so what....people drive around in underwater Camrys and Accords all the time.
And just to humor you. All US bills when new weigh about 1 gram
A ton of 100's is $90.8 Million
A ton of 50's is $45.4 Million
A ton of 20's is $18.16 Million
A ton of 10's is $9.08 Million
A ton of 5's is $4.54 Million
A ton of 1's is $908,000
