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21 October 2019, 05:46 AM | #1 |
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MC12 - $500,000 in interest for 48 months
God bless this buyer for being able to do this.
$2.3 million dollar car, $2,800,000 in total payments with interest, in 48 months. https://www.motor1.com/news/377367/m...nance-details/
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21 October 2019, 06:45 AM | #2 |
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I don’t know...maybe find a $2M car and pay cash?? But, to each his own...
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21 October 2019, 06:52 AM | #3 |
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It's only money.
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21 October 2019, 07:03 AM | #4 |
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He could have gotten a Richard Mille for that price. lol
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21 October 2019, 07:17 AM | #5 |
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That's insane but chances are if he holds onto this car long enough it won't matter. Over the years these and other similar vehicles have pretty much doubled as blue chip investments for the long-term owners. If he missed out on this one there's no telling when he'll get the chance again or for what price. Cash is king, for sure.
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21 October 2019, 12:22 PM | #7 | |
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Quote:
That MC12 was $670,541USD when new in 2004-5. So in 15 years, CAGR ~ 8.5% (not counting approx $500-750K of recurring servicing over those years) That does include the Great Recession of 2008. It’s likely top of mark now. Sent from my iPhone using Tapatalk Pro
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21 October 2019, 04:03 PM | #8 |
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X2
If you've got it and you want it, get it!
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21 October 2019, 04:37 PM | #9 |
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Smoke em if you got em lol
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22 October 2019, 03:19 AM | #10 |
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Exactly, and it really is just an electronic entry. At least wit Bitcoin there are limits to how many 'coins' there are. Alas, with central bank electronic currency there is no limit, so it boils down to a basic CONfidence game they're playing.
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22 October 2019, 03:57 AM | #11 |
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Think I'll stick with my Jeep.
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22 October 2019, 04:03 AM | #12 |
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That's how a car loan works. A 23k car probably ends up costing 28k on a 4 year loan too.
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22 October 2019, 04:58 AM | #13 |
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I want that blue Enzo further down the page ... wow!
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22 October 2019, 06:16 AM | #14 |
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I don't get the issue, but most supercar financing is done like this and part of the reason why there are so many supercars and hypercars showing up at your local meets now.
The theory is that you can enjoy the car for a bit with a bet on appreciation to make you whole, or even come out ahead. This works in the super high-end like a Senna or an Egg, but not so much in your run-of-the-mill production cars. I think the last "run-of-the-mill" cars this type of financing would've worked well on is something like a manual Murcielago purchased on the bottom of the depreciation curve. |
22 October 2019, 07:00 AM | #15 |
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Contact the buyer and tell him I will sell him my 95 Vette for half the price!!! Hell, I’ll even throw in my 2015 Ford Fusion Hybrid!
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22 October 2019, 08:52 PM | #16 |
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Yolo
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22 October 2019, 08:56 PM | #17 |
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