/snicker/

“Next into The Tank is an enthusiastic young man from South Africa who has built an electric car. He is looking for a 72 billion dollar investment from the sharks against a valuation of 84 billion dollars”

I’ve never really quite understood his fixation on the Shorts. His massive short burden is not really a “we hate Tesla” thing, but more a symptom of a company that’s fundamentals are out of balance with it’s share price. UBER would have the same issue if it were public.  Day in day out, the number of shorts shouldn’t…

That's fine, but I wasn't complaining about economy class air travel. Just pointing out the bullshit language the CEOs use to justify it. It's not about what people desire. It's about what they can afford. If he had just said basically what you said (People typically opt for the lowest price so we have to cram in as…

They’re mostly short hops so I don’t accumulate a ton of miles.  This year I should be close to hitting the segments for Silver with United, but as I’m Houston based, Silver doesn’t really mean much- everyone in this damn town has it, so you’re better off paying the $500 

Airlines: What do you passengers want?
Passengers: Cheaper flights.

Do you know why it’s gone? All you “enthusiasts” who ask me to bring these to the NA market and then buy a CVT Kia Soul instead because you suddenly remember you’re 39 years old 215lbs, make $65K a year and have a wife, 2 kids and a dog.

I think the GT4 will have a second gen. So you’d be better off with the 993.

I’m hardly the person that should be arguing with that premise. I use my car payment money for an air-cooled Porsche, and I drive a 20 year old 4Runner daily that I got for 5 grand and I put about a grand of preventative maintenance into and a ton of sweat equity into. But my terms are a LOT more favorable. I pay 2.5%…

Okay, so I worked for the company who provides the financing on 144mo terms. Their name is Woodside Credit, and they are the official financing partners of Barrett-Jackson Auctions (and their official showroom in AZ as well).

There is a big point you’re missing here. Most people that buy exotics with loans like that already have a fleet of cars. The reason they do it is so they have a lower payment for the year or maybe 2 they have the car and usually it’s on cars like the GT4 that don’t depreciate much. Instead of tieing up 105k or having…

This is just a way for people with a lot of income but not a lot of dry cash sitting around to own one of these for a year or two and then sell their stake to someone else.

I don’t think you necessarily have to be “bad at math” to take this deal. This is very different from low payment deals targeted towards the poor who just need to get to work.

Surely this would make sense if you took out the loan but planned to keep the car for two years and then sell it. A GT4 should have very low depreciation which probably would leave more than enough equity to pay off the loan and not require the owner to have to top up.

There is probably a 0% chance that the owner will ever get to the payoff part of this loan. Probably not even keep it a year or two. Just like a house, most people never get to the end of their 30-year term before they sell.

It’s worth noting that even if it’s driven some reasonable amount, the depreciation on this car is likely to be extremely low, if not non-existent. With that in mind, the 12 year term could make the payments reasonable to someone so they could enjoy it for a few years and then sell it and pay off the balance.

Most importantly, the odds of the buyer actually keeping this car for more than a couple of years is very low. With 20% down, this car is not likely to ever be upside down. As long as there is no prepayment penalty, very few will be paying all the interest.

How fucking pathetic that this program didn’t get the death penalty.

Sure, but I wouldn’t be counting points just yet. McLaren got lucky after the safety car in the first race, and both got lucky with both Red Bulls and 1 Ferrari not finishing the race ahead of them in this race.

Agreed 100%.