Discussion
I'm about to move from my F430 to something else- have a few things in mind.
Just looking for a little guidance please on the finance. I have read previous threads on this subject.
My current agreement, taken in 2010, has a 9.4% APR which I know I can better.
What are the current market finance rates for borrowing £100k or thereabouts, on a variable rate (I believe interest rates will remain low)? Looking at with a balloon.
Can I have some suggestions of finance companies to approach pls.
Am in a good job so approval won't be an issue.
Much appreciate the help. Thank you.
Just looking for a little guidance please on the finance. I have read previous threads on this subject.
My current agreement, taken in 2010, has a 9.4% APR which I know I can better.
What are the current market finance rates for borrowing £100k or thereabouts, on a variable rate (I believe interest rates will remain low)? Looking at with a balloon.
Can I have some suggestions of finance companies to approach pls.
Am in a good job so approval won't be an issue.
Much appreciate the help. Thank you.
ferdi p said:
z4chris99 said:
your borrowing 100g at 9%?!!!
living out of your means or what
How did u work that out?living out of your means or what
He may have borrowed 40k on a 100k 430
He may want to borrow 100k on a 200k 458
he is very brave. much braver than me.. if he likes taking such risks maybe i can introduce him to a couple of deals I have going!
z4chris99 said:
he wants to borrow 100k on a depreciating asset with probably a high interest rate which is pretty mental. Finance isn't cheap anymore, not like back in the old days.
he is very brave. much braver than me.. if he likes taking such risks maybe i can introduce him to a couple of deals I have going!
100k over 3yrs maybe £500 a month of interest? Hardly that shocking if your about to spend 200k on a car. he is very brave. much braver than me.. if he likes taking such risks maybe i can introduce him to a couple of deals I have going!
More fun than green fee's that you don't get back either.
RevHappy said:
z4chris99 said:
he wants to borrow 100k on a depreciating asset with probably a high interest rate which is pretty mental. Finance isn't cheap anymore, not like back in the old days.
he is very brave. much braver than me.. if he likes taking such risks maybe i can introduce him to a couple of deals I have going!
100k over 3yrs maybe £500 a month of interest? Hardly that shocking if your about to spend 200k on a car. he is very brave. much braver than me.. if he likes taking such risks maybe i can introduce him to a couple of deals I have going!
More fun than green fee's that you don't get back either.
z4chris99 said:
it maybe 500/600 a month, then you pay your 100k back, then your 200k 458 is worth 130k? and you've paid nigh on 30k a year to rent a 458
Really though, if he can afford the interest & depreciation, always has enough equity to get out of the car at any point without having to default on somebody elses money....... who really cares.Enjoy the 458 I say. Spunk your monthly income as you see fit my friend.
bless anyone that has. in which case why borrow?
most people on high incomes borrow as the cash is better invested elsewhere, I.e a higher rate of return.
if you can afford 100k equity to spunk on a supercar, but not 200k it would suggest to me your living outside your means
OP; go for it you only live once, your a braver man than I
most people on high incomes borrow as the cash is better invested elsewhere, I.e a higher rate of return.
if you can afford 100k equity to spunk on a supercar, but not 200k it would suggest to me your living outside your means
OP; go for it you only live once, your a braver man than I
z4chris99 said:
in which case why borrow?
most people on high incomes borrow as the cash is better invested elsewhere, I.e a higher rate of return.
if you can afford 100k equity to spunk on a supercar, but not 200k it would suggest to me your living outside your means
OP; go for it you only live once, your a braver man than I
aah! but not if you can use the difference of 100k to return,say,20% somewhere else to negate the hurt of 9% on the first 100k.that amount of money invested in your own business(that you presumably understand very well)should readily create more than you pay in interest on the original 100k.to me it's all about sensible gearing.most people on high incomes borrow as the cash is better invested elsewhere, I.e a higher rate of return.
if you can afford 100k equity to spunk on a supercar, but not 200k it would suggest to me your living outside your means
OP; go for it you only live once, your a braver man than I
tuscaneer said:
aah! but not if you can use the difference of 100k to return,say,20% somewhere else to negate the hurt of 9% on the first 100k.that amount of money invested in your own business(that you presumably understand very well)should readily create more than you pay in interest on the original 100k.to me it's all about sensible gearing.
Very true, 8% apr is only about 4.1% flat? Shouldn't be that hard to beat and keeping capital liquid rather than stuck in a car has other benefits. Imagine the apr on a short term loan of 100k.....Gassing Station | Supercar General | Top of Page | What's New | My Stuff