Click to go to Forum Home Click to go to maXbimmer Home

Go Back   maXbimmer Forums > General > General Discussion
User Name
Password


Welcome to Maxbimmer.com!

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

Closed Thread
 
Thread Tools Rate Thread Display Modes
Old 09-20-2007, 04:05 PM   #31
Boots R
Boots, not boost
 
Boots R's Avatar
 
Join Date: Jun 2006
Location: Brampton
Posts: 11,032
Quote:
Originally Posted by e30bim View Post
Boots - Yeah you post alot and have a bigger mouth than you do a brain, a) because my name is "e30bim" doesn't mean that's all I drive. I have an e30 as a summer weekend car, my daily driver is an e36 328is that is fully paid for. It's strange that you think someone that can "only afford to drive an e30" is lower than you. I think you just offended half the board. If you had a brain, you would see that there are alot of e30's out there that are worth alot more than your car, not that it matters at all. You just wanted to chirp and be heard. Congrats on contributing about as much to the air as a hangover fart.
Excuse me? didn't I prove you wrong in the first part of my reply? I guess you missed that part.
Boots R is offline  
Old 09-20-2007, 04:24 PM   #32
propr'one
op sucks cock
 
propr'one's Avatar
 
Join Date: Jun 2004
Location: T.
Posts: 17,701
Send a message via MSN to propr'one
Believe me, i know lots of wealthy people, most of them lease cars. Why? Cause they dont give a **** about them, its someone else's car, they drive it whatever, it breaks, ****it, it gets stolen ****it, its not their car.


poor people like me and my parents buy cars outright.
__________________
d1s bulb canada

Hot: 2001 Estoril M RoadsterZCP 19's michelin supersports, ZHP knob, JL 8W3
Cold: 2002 TiAg M3 6mt ZCP 19's michelin supersports, deoranged, dechromed, led tails, ZHP knob, UUC SS v3, GROM, OEM 18's w310's,
hid headlights hid kit
propr'one is offline  
Old 09-20-2007, 04:42 PM   #33
dtthiaga
6th Gear Member
 
Join Date: Mar 2002
Location: Ontario
Posts: 1,551
Dinan 3, you do realize that you if you own the car, there is a ceiling of $30,000 for automobiles when considering CCA (Capital Cost Allowance). The CCA may be claimed at a rate of 30% per year, and in the first year, it's only 15% depreciated!!!!!

Leasing allows you $800/month to be written-off, even in the first year. You have to crunch the numbers, but to some, leasing is far better than owning it. You might be leaving Tax money on the table!!!!

And, if you can do it right, you can then buy the car out of the business for far less than it's actually worth, Don’t assume people are “inexperienced”.

e30bim You still didn’t tell us where your dad was/is a CFO??? You still don’t get it do you. I’ll break it down in simple terms for you.

Let’s assume you have $10,000 cash for a car. The bank/lease rate is 4%. So, buying the car outright, you saved yourself $400.00 in interest.

Now, if you INVESTED the $10K, at 10% rate of return, you would have made $1000.00. Now, paying the car payment, or lease, you spent $400 in interest. So, I’d be up $200 by leasing and investing. Given the opportunity to write off more with a lease (potentially), you would be up even more.

And, if the car turns out to be a POS, you can walk away from the lease vehicle.

When crunching numbers, you have to consider opportunity cost as well. But, do or think what you want. It’s your money.
dtthiaga is offline  
Old 09-20-2007, 04:45 PM   #34
e30bim
Banned
 
e30bim's Avatar
 
Join Date: Apr 2003
Location: Kitchener
Posts: 697
I don't care anymore, I really don't.
e30bim is offline  
Old 09-20-2007, 04:45 PM   #35
propr'one
op sucks cock
 
propr'one's Avatar
 
Join Date: Jun 2004
Location: T.
Posts: 17,701
Send a message via MSN to propr'one
then stop posting.
__________________
d1s bulb canada

Hot: 2001 Estoril M RoadsterZCP 19's michelin supersports, ZHP knob, JL 8W3
Cold: 2002 TiAg M3 6mt ZCP 19's michelin supersports, deoranged, dechromed, led tails, ZHP knob, UUC SS v3, GROM, OEM 18's w310's,
hid headlights hid kit
propr'one is offline  
Old 09-21-2007, 12:15 AM   #36
rodo
6th Gear Member
 
Join Date: Feb 2004
Location: oakville, ontario, canada
Posts: 4,203
Exactly, leasing is for people that don't care to be bothered by selling the car, having to worry about maintenance and all that hassle. You lease a car, you have it while its under warranty and scheduled maintenance and 3 yrs down the road you lease a new one
__________________
2010 328i

2010 Expedition


Objects in mirror are farther than they appear Only in a BMW

rodo is offline  
Old 09-21-2007, 02:36 AM   #37
shimajer
loudddddd
 
Join Date: Aug 2004
Location: at home
Posts: 2,954
i believe there are mod chips that arent detectable? contact TECHNINE (Gary)
shimajer is offline  
Old 09-21-2007, 07:15 PM   #38
rodo
6th Gear Member
 
Join Date: Feb 2004
Location: oakville, ontario, canada
Posts: 4,203
hey shimajer, i see your car at least once or twice a day around school
__________________
2010 328i

2010 Expedition


Objects in mirror are farther than they appear Only in a BMW

rodo is offline  
Old 09-23-2007, 01:24 PM   #39
BlitzSix
6 Speed
 
Join Date: Dec 2002
Location: Toronto
Posts: 3,405
Send a message via AIM to BlitzSix Send a message via MSN to BlitzSix
Quote:
Originally Posted by e30bim View Post
Sorry Rodo, I'm not saying there's a chance that he cannot afford to plop down $45k cash for the car, but it's very unlikely, in fact I will put down $1000 of my own money as a bet to say that he does not have that sort of $$$ lying around, even if it is parked in mutual funds, bonds or actively in the market. I personally am saying this as a person who grew up in a house with a father who is a CA and is the CFO of a large company. I was always told the best financial advise in terms of cars, if you cannot afford to pay cash for a car you shouldn't be driving it. I am not disagreeing for one second with you in regards to interest rates, and why not borrow money at a lower APR when you can park it in an investment that will yield higher returns, than putting it into a car which will depreciate in the long run and put you in the red.

I am just simply saying, there is a 95% chance in this case he is driving a car, which on paper he probably shouldn't be. He is the credit companies wet dream. He is not the Avg. Oakville VP pulling down $180k that doesn't know shit about cars, doesn't care about a huge motor (otherwise he would have got the 335i) and just wants to drive something new and stylish. He's a young guy probably living paycheck to paycheck and needs some pussy bait (probably doesn't have a gf), and is beating the shit out of the car.

My assumption is based on the fact that he is driving 218km/h riding the limiter probably on the qew or the 401 or 407 and is irresponsible; (and wanting to go faster). He is going to lose his license, or kill someone in only a matter of time. In this case, he was probably not the solid minded guy looking for a way to save money/invest money and thinking of his financial future.

Best case scenario, in 4 years he:

-Is alive
-Has a license
-Has some money left in his pocket
-Doesn't go over his km allowance by xx,xxx km
I'm sorry if I come across as an ass, but you're pathetic. All I came here for is a SIMPLE question of whether there is a way to take the limiter off.

You don't know

a) how old my friend is
b) where he drives the car (track/street)
c) how much money he makes
d) how much money he has in his bank account

Yet, you choose to assume all these things, and bash him for it? Hell he is not even on this forum so why would you bother? Even if he was, what business is it of yours how he handles his money ? I asked a question about BMWs in the GENERAL forum, not a question about what to do with money in off topic. Perhaps, he makes more than 180k a year? Perhaps he's an older person who tracks the car? Well guess what, you don't know, so why do you post all this bullshit? To start arguments for the hell of it ?

In fact, I'd like to take you up on your $1000 bet. Why don't we meet up and he can show his bank info to you, and you can hand him a grand.
BlitzSix is offline  
Old 09-23-2007, 01:56 PM   #40
Jim .E.
E90 n00b
 
Jim .E.'s Avatar
 
Join Date: Jun 2003
Location: Brampton
Posts: 6,649
Quote:
Originally Posted by BlitzSix View Post
... I'd like to take you up on your $1000 bet. Why don't we meet up and he can show his bank info to you, and you can hand him a grand.
e30bim you just got called out. Put your money where your mouth is.
__________________
Jim .E. is offline  
Old 09-23-2007, 03:05 PM   #41
DINAN 3
6th Gear Member
 
Join Date: Jun 2004
Location: Toronto
Posts: 1,194
Send a message via AIM to DINAN 3
Quote:
Originally Posted by dtthiaga View Post
Dinan 3, you do realize that you if you own the car, there is a ceiling of $30,000 for automobiles when considering CCA (Capital Cost Allowance). The CCA may be claimed at a rate of 30% per year, and in the first year, it's only 15% depreciated!!!!!

Leasing allows you $800/month to be written-off, even in the first year. You have to crunch the numbers, but to some, leasing is far better than owning it. You might be leaving Tax money on the table!!!!

And, if you can do it right, you can then buy the car out of the business for far less than it's actually worth, Don’t assume people are “inexperienced”.
That's why I just bought my '03 540 for 29 grand.....even assuming an unreasonable 10% opportunity cost...it cost me less than half of $800/month to drive her. Also, wondering what in comparison you can lease for $800/month (Tax in & No $$$ down) these days ?
I agree w/ most people on this thread that leasing is a luxury and it almost never makes financial sense.
DINAN 3 is offline  
Old 09-24-2007, 01:41 PM   #42
e30bim
Banned
 
e30bim's Avatar
 
Join Date: Apr 2003
Location: Kitchener
Posts: 697
Fair enough, I will put my money where my mouth is. He can prove to me that he has $45,000 of liquid money in his bank account. I'm not talking about getting a line of credit, or a reverse mortgage or anything like that. I'm talking about 45k cash.
e30bim is offline  
Old 09-24-2007, 07:31 PM   #43
Mystikal
Moderator/Event-Coordinator
 
Join Date: Feb 2002
Location: Stance
Posts: 12,767
Quote:
Originally Posted by e30bim View Post
Fair enough, I will put my money where my mouth is. He can prove to me that he has $45,000 of liquid money in his bank account. I'm not talking about getting a line of credit, or a reverse mortgage or anything like that. I'm talking about 45k cash.
Don't change the bet now...

Quote:
Originally Posted by e30bim View Post
I will put down $1000 of my own money as a bet to say that he does not have that sort of $$$ lying around, even if it is parked in mutual funds, bonds or actively in the market.
Pretty sure that means all investment and savings funds are game.

I wanna see how this turns out!

Jay
__________________

@stancejay
Mystikal is offline  
Old 09-25-2007, 09:14 AM   #44
e30bim
Banned
 
e30bim's Avatar
 
Join Date: Apr 2003
Location: Kitchener
Posts: 697
You're right, $45,000 of money which is not borrowed can be acceptable. He cannot use home equity though.
e30bim is offline  
Old 09-25-2007, 09:31 AM   #45
DINAN 3
6th Gear Member
 
Join Date: Jun 2004
Location: Toronto
Posts: 1,194
Send a message via AIM to DINAN 3
Exclamation Just to make sure...

Quote:
Originally Posted by e30bim View Post
You're right, $45,000 of money which is not borrowed can be acceptable. He cannot use home equity though.
I would add a condition that the 45 g's had to be in the account before Sept. 17th.....the start date of this thread...just to guarantee that no funny business went down + RRSP's don't count as they are not liquid $$$.
DINAN 3 is offline  
Closed Thread

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT -4. The time now is 07:11 PM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.