Who REALLY owns their Z???

rebe945 · 05-18-2013, 07:31 AM

Quote:

Originally Posted by wstar

It's true. I'm a big anti-debt person. I would just rather pay for stuff and have nothing hanging over my head. However, given how low interest rates are, and how decent the market returns are, it makes sense to borrow investment money right now. In other words, if you bought a mortgage in the past few years it might be in the 3-4% range. Let's say you come into an extra $40K. My anti-debt brain says "throw into the house loan and get that thing finished quicker," but the smart move right now is to put that 40K into the market (even something conservative like an S&P Index Fund) and make more off of it than your mortgage is charging you.

Sp500 index is not a conservative investment. Its seems that way with the market going up and up. Large cap equities such as the sp500 took a -38% loss in 2008. Dont get me wrong. I invest (and not trade). Have made so much in the market over my life. Its too bad most dont understand how to invest with all these trading commercials, annutiy crap, and all these salesmen of products today. Ive enjoyed the fruits as a long term investor. The Z was cash. So was the wheels, the mods, etc etc

2010ZilverZ · 05-18-2013, 08:44 AM

Quote:

Originally Posted by 370Zsteve

Paid. In cash.

Bought mine and paid in cash

370z46 · 05-18-2013, 09:39 PM

put down 20k in cash, loaned 14k, paid it off in 9 months

Tigger · 05-19-2013, 07:07 PM

As long as the City of Virginia Beach keeps charging personal property tax I'll never actually own my Z even if it is paid off. What a scam.

Voice59 · 05-20-2013, 02:31 PM

That's only if you're a resident. I don't pay property tax. And I most definitely own mine.

Quote:

Originally Posted by Tigger

As long as the City of Virginia Beach keeps charging personal property tax I'll never actually own my Z even if it is paid off. What a scam.

Bandit_Kaine · 05-19-2013, 07:58 PM

Owe 29K lol..

saleshound · 05-19-2013, 08:23 PM

Paid Cash....no other way to buy a car!

Unique_Z · 05-20-2013, 02:43 PM

Paid mine in full.

GrandZ45 · 05-21-2013, 10:02 PM

Dave Ramsey makes a really good case for paying cash for cars. For one thing, financing and investing the capital in the stock market should consider the substantial risk that over the time frame being considered, a net loss in the stock market is not at all an uncommon result. One is essentially financing a stock investment with a short term loan which is always fraught with risk. Basically buying on margin. If one has 30K for that new Z and puts it into the stock market while financing the Z, he may well find that 30K going down to 3K--and still take depreciation hit on the Z. Safer, if he wants to invest in the stock market, to pay cash for an older 300 or 350Z and invest the rest. Then he won't lose the car if he misses a few pay checks, even if his stock picks tank.

It is funny how one hears the stock market spoke of as if it were a sure thing when it is setting new record highs and cursed as a gambling den run by thieves when it crashes.

.

MMC Racing · 05-22-2013, 08:52 AM

Quote:

Originally Posted by GrandZ45

Dave Ramsey makes a really good case for paying cash for cars. For one thing, financing and investing the capital in the stock market should consider the substantial risk that over the time frame being considered, a net loss in the stock market is not at all an uncommon result. One is essentially financing a stock investment with a short term loan which is always fraught with risk. Basically buying on margin. If one has 30K for that new Z and puts it into the stock market while financing the Z, he may well find that 30K going down to 3K--and still take depreciation hit on the Z. Safer, if he wants to invest in the stock market, to pay cash for an older 300 or 350Z and invest the rest. Then he won't lose the car if he misses a few pay checks, even if his stock picks tank.

It is funny how one hears the stock market spoke of as if it were a sure thing when it is setting new record highs and cursed as a gambling den run by thieves when it crashes.

.

You intermixed a bunch of different concepts here. Sure, buy the used car. Ok. That's fine, but not what we are talking about here.

Dave Ramsey specifically said don't finance a car at 0%? I've never heard him say that, but it wouldn't surprise me. He advice is best for the sheep of the world, not the lions.

mts · 05-22-2013, 02:03 PM

Quote:

Originally Posted by MMC Racing

Dave Ramsey specifically said don't finance a car at 0%? I've never heard him say that, but it wouldn't surprise me. He advice is best for the sheep of the world, not the lions.

Sheep, huh.....that's silly. He generally gives pretty sound advice.

The taking the low interest rate and investing the difference is a sound practice to a point, and certainly makes the most sense at 0%. However, first, your average consumer will not invest the difference, your average consumer will do exactly that, consume it. Anything other than 0% interest aside, your average consumer will be better off avoiding non-tax deductible debt when possible. Second, as I've read the last few pages of this the other assumptions made on the strategy are higher returns in the market like we've had the past couple years. If you've already forgotten we've had two pretty huge busts over the last dozen years or so. I can tell you first hand the heavier equity players have been having a freakin shopping spree the last 4 or 5 years at the expense of the heavily leveraged "lions" who have been trying to avoid bankruptcy when their investments dropped well below their leverage and they had to pay the piper.

MMC Racing · 05-23-2013, 08:43 AM

Quote:

Originally Posted by mts

Sheep, huh.....that's silly. He generally gives pretty sound advice.

The taking the low interest rate and investing the difference is a sound practice to a point, and certainly makes the most sense at 0%. However, first, your average consumer will not invest the difference, your average consumer will do exactly that, consume it. Anything other than 0% interest aside, your average consumer will be better off avoiding non-tax deductible debt when possible. Second, as I've read the last few pages of this the other assumptions made on the strategy are higher returns in the market like we've had the past couple years. If you've already forgotten we've had two pretty huge busts over the last dozen years or so. I can tell you first hand the heavier equity players have been having a freakin shopping spree the last 4 or 5 years at the expense of the heavily leveraged "lions" who have been trying to avoid bankruptcy when their investments dropped well below their leverage and they had to pay the piper.

The average consumer needs Dave Ramsey. They are the sheep of the world that need to be told exactly what to do.

A number of posters here seem to believe there is only two scenarios. You either pay it off completely, or you finance at low/no interest and blow the cash. Either blow it on stuff or put it in the "risky stock market".

No, there is the 3rd option. People that know what they are doing lock up the historically low debt rates and put that cash to work to build true wealth. Those are the lions.

If this concept seems completely wrong to you, you are right to not follow it since you aren't a lion.

KERMIT · 05-22-2013, 06:26 PM

Quote:

Originally Posted by GrandZ45

Dave Ramsey

.

I stopped listening after this....

He is great for the folks that need serious help managing money

The BlueMax · 05-22-2013, 06:58 PM

I payed 29K for blue sport pkg. 09 leftover with 350 miles in January of 2010, it felt good to pay for all of it, hope I never have to finance again.

birdmanx1 · 05-22-2013, 08:14 PM

Quote:

Originally Posted by The BlueMax

I payed 29K for blue sport pkg. 09 leftover with 350 miles in January of 2010, it felt good to pay for all of it, hope I never have to finance again.

Congrats man

05-19-2013, 07:58 PM	#6 (permalink)
Bandit_Kaine Base Member Join Date: Jun 2012 Location: Miami Age: 34 Posts: 224 Drives: 16-370Z Nismo-PW-MT Rep Power: 13	Owe 29K lol.. __________________

05-19-2013, 08:23 PM	#7 (permalink)
saleshound Base Member Join Date: Oct 2012 Location: norton, ma Posts: 22 Drives: 2009 370Z Nismo Rep Power: 13	2009 Nismo Paid Cash....no other way to buy a car! Voice59 likes this.

05-20-2013, 02:43 PM	#8 (permalink)
Unique_Z A True Z Fanatic Join Date: Dec 2010 Location: Brunei Posts: 1,515 Drives: 370Z, 180SX Rep Power: 18	Paid mine in full. __________________ My Z Build UniqueZ

05-21-2013, 10:02 PM	#9 (permalink)
GrandZ45 Base Member Join Date: Nov 2012 Location: Baton Rouge Posts: 33 Drives: 2013 370z Base AT Rep Power: 13	Financing vs Cash car purchases Dave Ramsey makes a really good case for paying cash for cars. For one thing, financing and investing the capital in the stock market should consider the substantial risk that over the time frame being considered, a net loss in the stock market is not at all an uncommon result. One is essentially financing a stock investment with a short term loan which is always fraught with risk. Basically buying on margin. If one has 30K for that new Z and puts it into the stock market while financing the Z, he may well find that 30K going down to 3K--and still take depreciation hit on the Z. Safer, if he wants to invest in the stock market, to pay cash for an older 300 or 350Z and invest the rest. Then he won't lose the car if he misses a few pay checks, even if his stock picks tank. It is funny how one hears the stock market spoke of as if it were a sure thing when it is setting new record highs and cursed as a gambling den run by thieves when it crashes. .

05-22-2013, 06:58 PM	#14 (permalink)
The BlueMax Enthusiast Member Join Date: Jan 2010 Location: Louisville Posts: 337 Drives: 09 370/97 T/A 01 ZRX Rep Power: 26	I payed 29K for blue sport pkg. 09 leftover with 350 miles in January of 2010, it felt good to pay for all of it, hope I never have to finance again. birdmanx1 likes this. __________________ The Blue Max

05-18-2013, 09:39 PM	#3 (permalink)
370z46 Base Member Join Date: Mar 2011 Location: new york Posts: 34 Drives: 2011 Base+Sports 6sp Rep Power: 15	put down 20k in cash, loaned 14k, paid it off in 9 months

05-19-2013, 07:07 PM	#4 (permalink)
Tigger A True Z Fanatic Join Date: Mar 2013 Location: NM Posts: 8,063 Drives: Awedeeeeee Rep Power: 603	As long as the City of Virginia Beach keeps charging personal property tax I'll never actually own my Z even if it is paid off. What a scam.

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