cash vs lease vs finance | FerrariChat

cash vs lease vs finance

Discussion in 'Ferrari Discussion (not model specific)' started by UroTrash, Feb 28, 2004.

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  1. UroTrash

    UroTrash Three Time F1 World Champ
    Consultant Owner

    Jan 20, 2004
    38,959
    Purgatory
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    Clifford Gunboat
    #1 UroTrash, Feb 28, 2004
    I think it would be interesting to know how many folks lease vs finance vs pay cash for their Ferrari. Also, and more importantly, why do you choose the method you use?
     
  2. fun2rome

    fun2rome Rookie

    Jan 25, 2004
    2
    #2 fun2rome, Feb 28, 2004
    It is my preference to pay cash. In my opinion it is the least expensive method of ownership (especially if done with a home line of credit at 1.99% interest payment only) unless your business in making the lease payment or your would be cash disbursement is yielding enough return to make the pmt.
     
  3. Ms. Enzo

    Ms. Enzo Rookie

    Feb 19, 2004
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    Los Angeles, CA
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    Karen
    #3 Ms. Enzo, Feb 28, 2004
    A lot of people pay cash, some finance and even more lease.
    There are many advantages to leasing your Ferrari (or other exotic/highline vehicle)

    * TAX ADVANTAGE - a lease is tax deductable, a finance is not

    * Lower monthly payments than financing

    * Depending on your state, sales tax is paid only on your monthly payment as opposed to paying sales tax on the full price of the car.

    * Ideal for people who frequently change cars, you have more flexibility to get in and out of vehicles in a lease

    * Free up your cash for investments, business or real estate

    The majority of people who lease could easily write a check for the car but make the wise choice of leasing! (AND you can even lease an ENZO!!)
     
  4. t88power

    t88power Formula 3

    Feb 19, 2001
    2,396
    Puerto Rico
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    Ernesto
    #4 t88power, Feb 28, 2004
    again???
     
  5. W00dEar

    W00dEar F1 Rookie
    BANNED

    Feb 24, 2004
    3,592
    LI, NY
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    Chris
    #5 W00dEar, Feb 28, 2004

    Could you explain a bit how that works?
    When do you pay the principle back?
     
  6. Ms. Enzo

    Ms. Enzo Rookie

    Feb 19, 2004
    28
    Los Angeles, CA
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    Karen
    #6 Ms. Enzo, Feb 28, 2004

    Where did you find 1.99%???
     
  7. UroTrash

    UroTrash Three Time F1 World Champ
    Consultant Owner

    Jan 20, 2004
    38,959
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    Clifford Gunboat
    #7 UroTrash, Feb 28, 2004
    My sincere apologies to t88power, and any others who have had their sensibilities offended by the redundancy of this thread I started. mdstrib
     

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