How did you pay for your Taycan?

[Chris8536]

I am curious why anyone would have paid in cash in this environment? That seems like throwing away 30k in earnings easily over a 3-4 year term. Why?

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[ljump12]

cash but not cash...wire, check, etc...

No one has said Bitcoin yet thought there would be at least one...

I went cash, but I asked if they'd do crypto. Would much rather send USDC which settles in 10 minutes than spend $20 on a wire which settles in 2 days. But doesn't really matter to me.

 

[Kingske]

I am curious why anyone would have paid in cash in this environment? That seems like throwing away 30k in earnings easily over a 3-4 year term. Why?

In my case:
- the convenience of getting it done and then just forget about it,
- cash on money market or savings accounts doesn't earn anything,
- returns in the stock market over the next three to five years are highly unpredictable and may be negative,
- etc.

 

[B61]

I wanted to pay with “cash”, ie. bank transfer, but my dealer suggested to sign a “leasing” since it‘s less expensive.
instead of 147k€, I paid 28k as a deposit, then additional 42k when I got a car…in next 24month I’ll pay 3k monthly….so all together 142k.

 

[TomC]

I am curious why anyone would have paid in cash in this environment? That seems like throwing away 30k in earnings easily over a 3-4 year term. Why?

As already suggested, you are going to get wildly different answers depending on where someone is based. In the UK there’s huge tax incentives for buying an electric car, specifically around reducing corporation tax. We just came off our best year, so even if I could lease (which I could not, as I did not have a drivers license when buying it) it made financial sense to buy it out right and reduce the upcoming tax liability. The Porsche almost felt like it was given as a free bonus.

 

[Jhenson29]

I put 50% down and financed 50%, but paying off same year. Didn’t pay cash because I don’t keep that much cash on hand. Not keeping the loan because I don’t like keeping debt. Personal preference. Plan on doing the same for a 992.

 

[Alex]

HP over 3 years allowing me to take advantage of CT in 1st year.

 

[charliemathilde]

Porsche Lease terms in USA are brutally awful.

 

[Chris8536]

In my case:
- the convenience of getting it done and then just forget about it,
- cash on money market or savings accounts doesn't earn anything,
- returns in the stock market over the next three to five years are highly unpredictable and may be negative,
- etc.

This seems to be a highly conservative take considering. But I’ve noticed there aren’t many people in their 30s in this forum so maybe that makes sense.

Overall I’ve already made 22% on that 100k plus the taycan has gone up in value over my contract buyout price. Seems crazy to me to pay in cash but if youre at the stage in life where you don’t care about returns anymore I guess it make sense? But I can’t imagine that stage unless several people on this forum have portfolios in the 100m range.

 

[Kingske]

This seems to be a highly conservative take considering. But I’ve noticed there aren’t many people in their 30s in this forum so maybe that makes sense.

Overall I’ve already made 22% on that 100k plus the taycan has gone up in value over my contract buyout price. Seems crazy to me to pay in cash but if youre at the stage in life where you don’t care about returns anymore I guess it make sense? But I can’t imagine that stage unless several people on this forum have portfolios in the 100m range.

Guilty as charged. I admit to being very conservative with part of my cash.

 

[f10tt]

I am curious why anyone would have paid in cash in this environment? That seems like throwing away 30k in earnings easily over a 3-4 year term. Why?

I was going to pay cash, but my CU is offering me 1.25%. I'd rather keep the cash I'd end up buying the car for in the market which is returning me way more than the finance charge they're charging.

 

[Bry5on]

I am curious why anyone would have paid in cash in this environment? That seems like throwing away 30k in earnings easily over a 3-4 year term. Why?

Preserving debt to income ratios if you’re looking to take a home or personal loan out for other reasons. You may prefer to have your borrowing done against something other than a car in this case.

 

[schad]

The CFO had a requirement about how high my car payment was allowed to be. So I paid cash until it reached that point, and financed the rest.

I didn't argue with her. I know it's smarter to borrow everything and invest it, but I feel more comfortable this way.

 

[Chris8536]

The CFO had a requirement about how high my car payment was allowed to be. So I paid cash until it reached that point, and financed the rest.

I didn't argue with her. I know it's smarter to borrow everything and invest it, but I feel more comfortable this way.

This of course makes sense since you’re getting part of it covered this way.

 

[Pozuelo]

More like a bank transfer, as cash payments in Spain are limited to 2500€… due to money-laundering restrictions legislation. Have always paid for all my cars this way (actually by check until a few years ago when they practically disappeared in Spain). The sole exception being my first car, which was a gift from my parents: a brand new Renault 12 with 60hp ! We’ve come a long way !

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