So thats how Chris Harris affords his cars

[Jimslips]

KennyGT said:

Yeah ok. This is why the country is full of people in stupid debt. Ok, so its finance and that but anyone can go and and get finance on a expensive car. It feels so much better knowing you dont owe a penny on a car, and its actually yours.

WRONG!
Anyone cannot get finance on an expensive car.
To many business owners / users of supercars, I am 100% sure they (and I) do not give a monekys if it is owned or not as it makes more financial sense to pay monthly.

[OlberJ]

I think people are just looking for the same slant/loophole/idea that they can exploit to pick up similar cars.

Not knocking the guy, just looking to follow in his footsteps if it makes sense to do so.

[mercfunder]

TonyHetherington said:

...and a rare Porsche, widely exclaimed to be one of the best ever made.

I think I'll wait till it's widely acclaimed.

[J4CKO]

I think he probably has an income from his music career,





I mean, check out those sideburns, they are bigger in this instance than Ray Dorset's !

Sorry Chris !

[hornetrider]

J4CKO said:

I think he probably has an income from his music career,



I mean, check out those sideburns, they are bigger in this instance than Ray Dorset's !

Sorry Chris !

I had sidies like that in 1997!

[2slo]

J4CKO said:

I think he probably has an income from his music career,





I mean, check out those sideburns, they are bigger in this instance than Ray Dorset's !

Sorry Chris !

Chrislooks a lot like his Dad when they were about the same age:

[Shmee]

The Crack Fox said:

LHD said:

only an idiot or the super rich buy a car outright.

Really ? I'm neither and have owned plenty of interesting stuff (albeit rarely brand new). Why does it make me an idiot not to want to pay interest on depreciating assets ? I (and my accountant) disagree with you.

From my short period of talking to people about this kind of things, cars over £100k are on finance more than 75% of the time. Clearly the majority who are in that position think it's a good idea.

[jdw1234]

Shmee said:

The Crack Fox said:

LHD said:

only an idiot or the super rich buy a car outright.

Really ? I'm neither and have owned plenty of interesting stuff (albeit rarely brand new). Why does it make me an idiot not to want to pay interest on depreciating assets ? I (and my accountant) disagree with you.

From my short period of talking to people about this kind of things, cars over £100k are on finance more than 75% of the time. Clearly the majority who are in that position think it's a good idea.

Please tell me where you can get a return beating car finance.

Isn't this normally nonsense spouted by property developers in the good old days.

I doubt HNW or UltraHNW individuals use finance. More likely a way of people on decent 6 figure PAYE (who can no doubt easily afford the monthly payments) to get into these cars.

Absolutely nothing wrong with that, but to say the majority of time it is due to financial wizardry making it "stupid to pay cash" is somewhat stretching it.

[Shmee]

jdw1234 said:

Please tell me where you can get a return beating car finance.

Isn't this normally nonsense spouted by property developers in the good old days.

I doubt HNW or UltraHNW individuals use finance. More likely a way of people on decent 6 figure PAYE (who can no doubt easily afford the monthly payments) to get into these cars.

Absolutely nothing wrong with that, but to say the majority of time it is due to financial wizardry making it "stupid to pay cash" is somewhat stretching it.

I didn't for a second say it was financially sensible, but if people only spent money on things they absolutely had to then we'd live in a very boring world.

[Bill Carr]

KennyGT said:

So he will never actually own the car. I love how people say this is my car when really its not.

Do you invite your friends over to dinner at the bank's house?

[jdw1234]

Shmee said:

jdw1234 said:

Please tell me where you can get a return beating car finance.

Isn't this normally nonsense spouted by property developers in the good old days.

I doubt HNW or UltraHNW individuals use finance. More likely a way of people on decent 6 figure PAYE (who can no doubt easily afford the monthly payments) to get into these cars.

Absolutely nothing wrong with that, but to say the majority of time it is due to financial wizardry making it "stupid to pay cash" is somewhat stretching it.

I didn't for a second say it was financially sensible, but if people only spent money on things they absolutely had to then we'd live in a very boring world.

Sorry. Quite right mate. I misread the last line of your previous post.

We are in agreement.

Depreciation tends to make any financing cost irrelevant anyway!!

[bqf]

'Only stupid people buy cars outright', is exactly why this country, and most of Europe, is absolutely rubber-ducked.

Finance for the Porsche in question costs 8%. The vehicle will depreciate more than 8% per annum. These are facts.

Buying the car for cash costs 0%. The lost cash investment potential is, at current rates, about 1% maximum.

Why would anyone, who had the cash, use the finance? It's only folks who can't buy cars for cash that use Finance.

[TonyHetherington]

mercfunder said:

TonyHetherington said:

...and a rare Porsche, widely exclaimed to be one of the best ever made.

I think I'll wait till it's widely acclaimed.

Oops!

[Mikeyboy]

KennyGT said:

So he will never actually own the car. I love how people say this is my car when really its not.

Are you my neighbour who the other day walked past me and said. " nice car, I would like one of those but I would have to pay for it in cash"
i smiled and ignored the implied insult, but thought to myself. "Well then you're never going to be able to buy one then are you?"

Strange thing was. I had paid for it in "cash"

[Big E 118]

I wouldn't think £14k pa on a (possibly appreciating) car a year is particularly out of the ordinary for someone on a decent salary whether it's finance payments or depreciation on a new car. Ok he's got a job that most of us would love but you don't get to where he is in his industry without putting the work in, good luck to him.

[2slo]

Mikeyboy said:

Are you my neighbour who the other day walked past me and said. " nice car, I would like one of those but I would have to pay for it in cash"
i smiled and ignored the implied insult, but thought to myself. "Well then you're never going to be able to buy one then are you?"

Strange thing was. I had paid for it in "cash"

On the other hand he might have meant that he had a poor credit history and cash would be his only option. Possibly not an implied insult?

[Jimslips]

Bill Carr said:

Do you invite your friends over to dinner at the bank's house?

perfectly summed up

[Mikeyboy]

2slo said:

On the other hand he might have meant that he had a poor credit history and cash would be his only option. Possibly not an implied insult?

Well I didn't quote him exactly, he made it pretty clear he thought that I could only afford it because I'd bought it on the never never. I've met him before, he's a dick

[Risotto]

mercfunder said:

TonyHetherington said:

...and a rare Porsche, widely exclaimed to be one of the best ever made.

I think I'll wait till it's widely acclaimed.

The fact he owns one now means it's likely to be widely acclaimed - in Evo at least!

How much did Harry Metcalfe pay for that Countach? Something in the region of £60k - £70k? Suddenly, it's getting plenty of exposure in Evo and a year later their Lambo feature suggests QVs are now worth £110k or something similar! Cause and effect? Either way, I can't imagine the features have done values any harm.

Edited by Risotto on Friday 7th October 16:45

[Jimslips]

What do u drive?