StreetFish

So my incoming GT3 will be my high priced vehicle (+$250k) that I have purchased and not leased. Wanted to understand what most guys do in terms of cash or finance on these types vehicles.

Also, if finance, any insight as to who has the best rates and what rate current loans have been underwritten at recently?

Thanks!

mnawa

I’ll save you time. Everyone here will instruct you to pay cash.

GoTime

Bc that's the smart thing to do

dixonk

This is Rennlist. Everyone pays cash and everyone got their GT car at MSRP.

shrimp money

Tell everyone you paid cash, even if you used a HELOC.

Diablo Dude

darylbowden

If you finance, USAA and Penfed seem to have pretty competitive loan rates compared to Porsche Financial.

dixonk

Navy Federal will beat both of them. Navy Fed is still in the 4s.

GT3 Mike

Save and pay cash. That's what I am doing when my car delivers in the next month or so. It motivated me to get rid of some stuff I wasn't driving anymore and clean the garage out.

AlexCeres

At least half of all these cars (as well as much more expensive exotics) are financed, and the people claiming otherwise are full of ****.

PenFed, Navy Federal are common choices as might be your own local credit union. Shop around. Porsche Finance offers pretty terrible terms in the US, so that’s more last resort. Rates overall are pretty high relative to a couple years ago, so you’ll want to do some math comparing interest charges vs other costs (like taxes) to help determine how much cash to put down. More cash is better, up to the point where it impacts your cash flow or tax liabilities more than the interest. Something like this can help keep perspective at how much the loan with cost you in total: https://www.calculator.net/auto-loan-calculator.html

AlexCeres

At 5% and 72 months and 0 down, that gets you about $44K in total interest. Almost 1/5 the car. Sounds crazy.
At 5% and 60 months and $100K down, that gets you about $23K in total interest. Less than 10% and about $5k per year. A lot more reasonable to me

everybody has their own circumstances. Good luck, and congrats on the car!

Ukkid74

RS arrives end of sept. I am borrowing 150k at 72 months. 4.99 from a FL credit union. Labor Day sale. Hope this is helpful.
matt

DodoBrd

good for you man. I think I financed about 30% of my car, but after a month just ended up paying it off. I know from a math/investing point of view it’s ‘leaving money on the table’, but mentally it makes me feel so much better knowing it’s paid off, no debt, no payments, no interest etc… that alone is worth the few bucks I’m ‘potentially’ losing with the opportunity cost

M&Abanker4life

Depends on your personal situation and tax profile. Everyone pretends they pay cash... they don't.. and they shouldn't.
If you have an opportunity to earn more than the interest rate on an after tax basis, then lever it up. Alternatively, if your income sources are volatile or unpredictable or you dont have conventional income, then put more / all cash in the mix so its not a liability.

GT3 Mike

Thanks ! This is a feel good purchase for me and nothing better than stoking a check and driving away. Luckily I've had more than enough time to get my finances together and its sitting in a money market account at 5.15% while I wait.