Who REALLY owns their Z???

MMC Racing · 05-17-2013, 08:31 AM

Quote:

Originally Posted by KERMIT

No one has come up with good counter arguments....

Capital gains?

Uncertainty?

Don't make me argue with myself!... There are lots more good ones left!

You did skip the emotional aspect. Some people get pleasure from having no debt. They would rather forgo taking the low or no interest rate and put their money to work for the emotional benefit of not having that debt.

We call these people crazy..

birdmanx1 · 05-17-2013, 02:05 PM

Quote:

Originally Posted by MMC Racing

You did skip the emotional aspect. Some people get pleasure from having no debt. They would rather forgo taking the low or no interest rate and put their money to work for the emotional benefit of not having that debt.

We call these people crazy..

Quote:

Originally Posted by MMC Racing

I've been a big fan ever since I attended the Inside Line reveal back in 2008 before the LA autoshow. I had been on the hunt for a GT-R, but couldn't find one at a reasonable price. After I saw the 370z at the reveal, I knew I wanted one. Then an interesting thing happened 2 days later, I found a GT-R at "only" $2000 over MSRP in California. That next weekend I was a GT-R owner..

Flash forward to June 2009, I was looking for a daily driver. I was driving from San Diego to LA almost every week. I test drove a 370z and a G37 and opted for the G37. At the time it was the right move since the G was a little more comfortable as a DD and I had the GT-R for the perfomance That goal required some sacrafice including selling the GT-R and G37. 1 year ago this month, we moved into our new house. Our vehicles at that time and still today are a 2010 Ford Raptor and a leased 2011 Accord. It was time to get into something fun again (on road, the Raptor is a blast offroad), so today we drove home a 2012 Solid Red Sport, Touring, Nav from Yuma..

Naaa, you skipped the rational aspect. Some people do get the pleasure of having no debt. they would rather forgo having to work 6 jobs, never worry about any job loss to keep their houses and cars, rather have their money work for them so they can afford to get whatever they want by paying hard cold cash.

Coming from the guy who sold a supposedly existing GTR and G to get a Raptor and to lease an Honda accord within a few months to end up with a Z.

We call these people DUMB FOOOOOOOLS

Congrats on being awesomely crazy for buying your sweet 2012 370z

RiCharlie · 05-17-2013, 04:34 PM

Paid in full..

MMC Racing · 05-17-2013, 05:08 PM

Quote:

Originally Posted by birdmanx1

Coming from the guy who sold a supposedly existing GTR and G to get a Raptor and to lease an Honda accord within a few months to end up with a Z.

We call these people DUMB FOOOOOOOLS

Congrats on being awesomely crazy for buying your sweet 2012 370z

Your timeline is off along with reasoning. I owned a 350z, G37, GT-R and Raptor at the same time. I sold all but the Raptor and took on the Honda lease when we bought a 2nd property, converting the 1st property to a rental. The 370z came later when I wanted something a little fun when desert season was over.

Cars come and go, but the investment potential of the last 3 years has been huge. Smart people are locking up cheap long term debt right now and keeping their cash working for them.

wstar · 05-17-2013, 06:42 PM

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.

Tazicon · 05-17-2013, 06:54 PM

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.

A man that thinks smart!

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.

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!

ocfoilist · 05-20-2013, 12:53 AM

Quote:

Congrats on the newborn and on such awesome plan. Nothing like knowing there won't any worries about how to cover college for the kid when comes the time.

Are you doing 529? I am staying away from it and doing with something else.

Yes, we decided to go with the 529. It's got decent outs for various possibilities such as scholarships and such. There is a limit to schools outside of the US but it can also be applied to grad school. It can also be transferred to another family member, which I wasn't originally aware of.

birdmanx1 · 05-20-2013, 01:36 PM

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.

I'm not sure I follow.

Quote:

Originally Posted by ocfoilist

Yes, we decided to go with the 529. It's got decent outs for various possibilities such as scholarships and such. There is a limit to schools outside of the US but it can also be applied to grad school. It can also be transferred to another family member, which I wasn't originally aware of.

Ah got it boss. I opted for individual stocks, mutual funds, buying property as college planning alternative. Got some decent returns on the stocks. An older friend of mine spooked me by the amount of money his 529 lost in the midst of the crisis right when his kid was set to start college.

MarkGideon · 05-20-2013, 01:58 PM

Quote:

Originally Posted by birdmanx1

I'm not sure I follow.

You never really "own" anything as long as if you don't pay personal (or real ) property taxes the local government will take it away.

05-17-2013, 06:42 PM	#290 (permalink)
wstar A True Z Fanatic Join Date: Mar 2009 Location: Houston, TX Posts: 4,024 Drives: too slow Rep Power: 3594	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. birdmanx1, DEpointfive0 and MarkGideon like this. __________________ 7AT Track Car! Journal thread / Car setup details

05-19-2013, 07:58 PM	#296 (permalink)
Bandit_Kaine Base Member Join Date: Jun 2012 Location: Miami Age: 33 Posts: 224 Drives: 16-370Z Nismo-PW-MT Rep Power: 12	Owe 29K lol.. __________________

05-19-2013, 08:23 PM	#297 (permalink)
saleshound Base Member Join Date: Oct 2012 Location: norton, ma Posts: 22 Drives: 2009 370Z Nismo Rep Power: 12	2009 Nismo Paid Cash....no other way to buy a car! Voice59 likes this.

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