749dark Posted 28November, 2022 Report Share Posted 28November, 2022 Hi all, Recently after picking up my Porsche, I was chatting to the dealer about the difference between how many people finance their cars versus paying cash. In his experience more people finance their purchases. He was surprised though how many young people took out large loans to buy their cars. What's everyone's thought's about this in terms of financing versus cash? This is only for curiosity as everyone does what's best for themselves. Cheers Quote Link to comment Share on other sites More sharing options...
sleazius Posted 29November, 2022 Report Share Posted 29November, 2022 On this forum everyone is cash and no-one has ever heard of finance - at least that is the concensus when the values discussion rolls around. In seriousness though, younger people are going to finance, older people probably don't need to. No different to any other asset class really. Porsche would have a higher percentage of finance in use simply because of the high initial cost. tomo 1 Quote Link to comment Share on other sites More sharing options...
The Bern Dog Experience Posted 29November, 2022 Report Share Posted 29November, 2022 I am also of the opinion that a lot of 911 owners, especially those who buy more classic ones do not finance and pay cash. It is harder to get finance on an older car. Also, 911 buyers tend to be more established and let's say sensible vs the Lambo buyer who just made a huge paper profit on bitcoin (generalising I know, but I see the demographic in Lambos who may have upgraded from an AMG or HSV) and they would not be a 911 buyer. Macan and Cayenne (also to some extent Boxster/Cayman) buyers are a totally different market segment as they target the BMW/Merc/Audi/Lexus crowd who majority finance. The sales guy I know at Merc said 80-90% of deals were finance/lease/novated lease. Funny as well that the majority of cash buyers were Asian (disclaimer: I am also Asian and yes, I pay cash) 😛 micknine01, GC9911, sleazius and 1 other 4 Quote Link to comment Share on other sites More sharing options...
smit2100 Posted 29November, 2022 Report Share Posted 29November, 2022 9 hours ago, sleazius said: On this forum everyone is cash and no-one has ever heard of finance - at least that is the concensus when the values discussion rolls around. In seriousness though, younger people are going to finance, older people probably don't need to. No different to any other asset class really. Porsche would have a higher percentage of finance in use simply because of the high initial cost. ^NQR but a variation on a theme. Full disclosure a Gen Xer. I think that needs consideration. By now pay later translates to being an 8 year old and going to check out a late 70's mongoose that my old man put on layby and I now and then watched him handover some cash without taking possesion of the goods down at the local strip bikeshop. Never understood crypto. The value in the blockchain software I thought if could be monetorised could be a winner, but the coins themselves? Imagine losing USD 230m of asset book value in your share portfolio because you couldnt reset your on line trading password to sell them for government backed coinage. All because you misplaced the password in an old laptop sent to the tip that you couldn't be f'd memorising. Can remember the laptop password at the bottom of a tip but not the bitcoin password. WTF. Who designs a system that you can't backdoor where by even the system designer / s cant be flushed out by the master twit of our our life time can't flush them out with his global ready. Order of preferences 1) cash then one year novated sale and lease back ( business lease if was not a payger) Interest is tax deductible and invest the cash that that would of been outlayed on the car and invest and then use to pay out the lease residual. Nice to have the tax man contribute to standard maintainance items like turbos, exhaust, suspension bits, tyres battery , maintenance consumables as a side benefit. Obviously I don't buy new. 2 cash. Precovid who buys a car thinking they will make money 3 offset home loan dollars one of cheapest form of finance Never understood buying cars on the never never if the car represents more than 5 to 10% of your net assets ( excluding the car) . Prefer depreciated out european cars that respond well to a bit of tweaking. Eg let the youngsters take the hit when their new and shiny and pick them up when they lost their lustre and are a bit expensive for those that insist on dealer servicing and need it fixed today. The problem is competing with other cash Up like minded Xers on the next upgrade. Any one got a white gated audi v8 r8 they wanted to offload. Strictly 2 decades back and eft payment direct from the mortgage offset account of course. Cash is a bit too risky to Shove in a back pack. micknine01 and TwoHeadsTas 2 Quote Link to comment Share on other sites More sharing options...
Sov Posted 4December, 2022 Report Share Posted 4December, 2022 On 29/11/2022 at 21:25, smit2100 said: Imagine losing USD 230m of asset book value in your share portfolio because you couldnt reset your on line trading password to sell them for government backed coinage. All because you misplaced the password in an old laptop sent to the tip that you couldn't be f'd memorising. Can remember the laptop password at the bottom of a tip but not the bitcoin password. WTF. Who designs a system that you can't backdoor where by even the system designer / s cant be flushed out by the master twit of our our life time can't flush them out with his global ready. You're talking about two different things here as if they're one in the same. You CAN reset your "online trading password" AKA custodial services.. You CAN'T "reset" self custody, but there are other solutions to that. Anyway, a topic for another day. Quote Link to comment Share on other sites More sharing options...
smit2100 Posted 5December, 2022 Report Share Posted 5December, 2022 On 04/12/2022 at 13:11, Sov said: You're talking about two different things here as if they're one in the same. You CAN reset your "online trading password" AKA custodial services.. You CAN'T "reset" self custody, but there are other solutions to that. Anyway, a topic for another day. Perhaps not and a slip of the keyboard. Would you be writing if I wrote password for the digital wallet with the bitcoin in it. Buy shares with a single broker, get a hin first, shares brought, get a share certificate ( chess statement) with a hin reference. I can check my actual ownership in shares through the share registries acting on behalf of the companies who manage their registry by signing up to an account with the share registries and referencing the hin. Is that not just having multple equivalents of a bitcoin digital wallet. If i forget my share registry passwords , who gives a toss, reset it if I can remember the security questions or provide old school proof of identity with my broker having a traditional audit trail to cover my back. To sell I have to go through a broker. Bitcoin. Need to setup a digital wallet right. Buy coin through an exchange or mine it into the wallet.( is their much more to it than that. Lose the bitcoin password and that dude with allegedly 7200 coins that at a point in time was worth circa aud 260m, is still s$#t out of luck now right. No password reset available on the bitcoin wallet. Show me your bitcoin wallet that you have 7200 coins. Oops I would if I could find the laptop somewhere in that tip over their that I stored the password on. Perhaps you should offer your other methods to the dude. Even at a multiplier of 1/4 on say today bitcoin value from around the peak, Thats surely a 1000 coin payday for you if you can crack the digital wallet password. Just a view but me thinks more chance of investing in dozers, dump trucks and portable conveyors with xray equipment and sorters on the conveyor and start mining for that ellusive laptop hard drive. Sell shares through a broker. sell bitcoin for cash through an exchange. Need to provide proof of ownership before a transaction takes place. Back to financing your p car. How many on here financed there P car weapon of choice purchase through bitcoin appreciation. Quote Link to comment Share on other sites More sharing options...
TwoHeadsTas Posted 5December, 2022 Report Share Posted 5December, 2022 9 hours ago, smit2100 said: Perhaps not and a slip of the keyboard. Would you be writing if I wrote password for the digital wallet with the bitcoin in it. Buy shares with a single broker, get a hin first, shares brought, get a share certificate ( chess statement) with a hin reference. I can check my actual ownership in shares through the share registries acting on behalf of the companies who manage their registry by signing up to an account with the share registries and referencing the hin. Is that not just having multple equivalents of a bitcoin digital wallet. If i forget my share registry passwords , who gives a toss, reset it if I can remember the security questions or provide old school proof of identity with my broker having a traditional audit trail to cover my back. To sell I have to go through a broker. Bitcoin. Need to setup a digital wallet right. Buy coin through an exchange or mine it into the wallet.( is their much more to it than that. Lose the bitcoin password and that dude with allegedly 7200 coins that at a point in time was worth circa aud 260m, is still s$#t out of luck now right. No password reset available on the bitcoin wallet. Show me your bitcoin wallet that you have 7200 coins. Oops I would if I could find the laptop somewhere in that tip over their that I stored the password on. Perhaps you should offer your other methods to the dude. Even at a multiplier of 1/4 on say today bitcoin value from around the peak, Thats surely a 1000 coin payday for you if you can crack the digital wallet password. Just a view but me thinks more chance of investing in dozers, dump trucks and portable conveyors with xray equipment and sorters on the conveyor and start mining for that ellusive laptop hard drive. Sell shares through a broker. sell bitcoin for cash through an exchange. Need to provide proof of ownership before a transaction takes place. Back to financing your p car. How many on here financed there P car weapon of choice purchase through bitcoin appreciation. Tassie's first 4RS apparently bought by a Crypto trader..... sleazius 1 Quote Link to comment Share on other sites More sharing options...
micknine01 Posted 5December, 2022 Report Share Posted 5December, 2022 1 hour ago, TwoHeadsTas said: Tassie's first 4RS apparently bought by a Crypto trader..... Has he had to give it back yet 😆 LeeM, sleazius and Harsh 2 1 Quote Link to comment Share on other sites More sharing options...
TwoHeadsTas Posted 5December, 2022 Report Share Posted 5December, 2022 51 minutes ago, 901er said: Has he had to give it back yet 😆 I'm waiting....... smit2100, micknine01, sleazius and 2 others 5 Quote Link to comment Share on other sites More sharing options...
Gt3rsss Posted 9December, 2022 Report Share Posted 9December, 2022 On 06/12/2022 at 08:30, TwoHeadsTas said: Tassie's first 4RS apparently bought by a Crypto trader..... Isn’t that just code for organised crime or money laundering? A bit like the old “won it gambling” line. To be clear, I should note I don’t know who the owner is! Just sounds like a cloudy back story. Quote Link to comment Share on other sites More sharing options...
sjm Posted 9December, 2022 Report Share Posted 9December, 2022 Fact is, crypto is a perfect platform for laundering money. Could be why it’s so popular with shady types and preppers/COVID deniers/sky is falling on my head, people. LeeM 1 Quote Link to comment Share on other sites More sharing options...
LeeM Posted 9December, 2022 Report Share Posted 9December, 2022 Then there's the estimated 200 million tonnes of carbon monoxide it has emitted which bitcoin has contributed to climate change through increased electricity used...apparently 🤔 🙄 (wikipedia) I just googled this crypto thing, and I swear I'm more stupider than I was an hour ago (not hard there). I just don't understand it at all (Save your explanations...I'll still be stupid) sjm and Harsh 2 Quote Link to comment Share on other sites More sharing options...
Sov Posted 21December, 2022 Report Share Posted 21December, 2022 On 10/12/2022 at 05:47, sjm said: Fact is, crypto is a perfect platform for laundering money. Could be why it’s so popular with shady types and preppers/COVID deniers/sky is falling on my head, people. LOL. It's literally a public blockchain and to move crypto into fiat requires going through a KYC'd exchange. It's the WORST way to launder money. On 05/12/2022 at 21:59, smit2100 said: Perhaps not and a slip of the keyboard. Would you be writing if I wrote password for the digital wallet with the bitcoin in it. Buy shares with a single broker, get a hin first, shares brought, get a share certificate ( chess statement) with a hin reference. I can check my actual ownership in shares through the share registries acting on behalf of the companies who manage their registry by signing up to an account with the share registries and referencing the hin. Is that not just having multple equivalents of a bitcoin digital wallet. If i forget my share registry passwords , who gives a toss, reset it if I can remember the security questions or provide old school proof of identity with my broker having a traditional audit trail to cover my back. To sell I have to go through a broker. Bitcoin. Need to setup a digital wallet right. Buy coin through an exchange or mine it into the wallet.( is their much more to it than that. Lose the bitcoin password and that dude with allegedly 7200 coins that at a point in time was worth circa aud 260m, is still s$#t out of luck now right. No password reset available on the bitcoin wallet. Show me your bitcoin wallet that you have 7200 coins. Oops I would if I could find the laptop somewhere in that tip over their that I stored the password on. Perhaps you should offer your other methods to the dude. Even at a multiplier of 1/4 on say today bitcoin value from around the peak, Thats surely a 1000 coin payday for you if you can crack the digital wallet password. Just a view but me thinks more chance of investing in dozers, dump trucks and portable conveyors with xray equipment and sorters on the conveyor and start mining for that ellusive laptop hard drive. Sell shares through a broker. sell bitcoin for cash through an exchange. Need to provide proof of ownership before a transaction takes place. Back to financing your p car. How many on here financed there P car weapon of choice purchase through bitcoin appreciation. Jesus, that was hard to read. Here's the thing, if you lose the password to your self custody wallet, you lose whatever is inside just like if you lose the wallet that's in your back pocket. But you don't have to use a self custody wallet, just like you don't have to keep all your cash in your back pocket. You can use a custodial wallet and you can reset that password. That custodial wallet also comes with all the functions that your broker account has. Records, reports, ownership, balances etc. Anyway, this is a complicated topic made even more complicated by the misinformation and a lack of depth in understanding by those who are not regular users. Quote Link to comment Share on other sites More sharing options...
sjm Posted 21December, 2022 Report Share Posted 21December, 2022 What's the BEST way then? Quote Link to comment Share on other sites More sharing options...
wilson59 Posted 21December, 2022 Report Share Posted 21December, 2022 4 hours ago, sjm said: What's the BEST way then? Just sit back and watch the Poindexters argue . LeeM, sjm and P-Kay 1 2 Quote Link to comment Share on other sites More sharing options...
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