Hello. I want to buy a Porsche, but I'm scared. I make 100K+ but I don't have a whopping down payment available. How many of you guys buy cars over 100K cash/finance? If you don't mind sharing. Am I nuts to even consider it? [>:]

 

I financed about one hundred K of my Aston had saved all the cash but put pnly $50 K down and actually got a loan for 5.4% for the rest, when the stocks I were going to sell are earning 5.2%,this makes sense becauseI avoided cashing out the stocks and paying capital gains tax, so over the life of the loan I'mpretty farahead. I have heard of even bigger loans up to about $140K. Most however have a significant down payment (that was roughly 50% financing on a Ferrari599.

Mypayment is about $2200;mo, which frankly strikes me as a bit much to try on a salary anywhere near $100-$130K. No car is worth straining your finances for. (I'm lucky enough to be making several times that right now, so the payment, frankly, isn't a burden. Plus having the cash in stocks, if I need it, eases any financial concerns.

Still, you can probably do it if you want, and if your credit is really goo.