How did you pay for your Taycan?

How have you paid/financed your Taycan?


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feye

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I love my Taycan, every second of it. BUT I will never buy one. Too much risk of depreciation as technology evolves quickly. Although I personally feel that in terms of performance there isn’t much left to improve. Maybe the focus should be on range.
I bought mine, as we always do. Interest rates are high here.

Not much risk of depreciation? https://www.taycanforum.com/forum/threads/used-taycan-prices.6756/post-96998

If the waiting lists for new EVs are so long now, the second hand market for EVs will also be dry for many years to come, right?
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Silveral

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Klepper

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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.
This is me as well. I prefer to have my debt against appreciating assets, not cars. Just my personal preference.
 

B61

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Same here….on the other hand, I have nothing against “cheap money”….and nowadays money is cheap.
 

Miwa

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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.
Because markets don't always go up, especially in the timeframe of owning a single car.

Paying cash with funds that were already sitting in cash isn't the same as paying with cash you got from selling investments.
 


Chris8536

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Because markets don't always go up, especially in the timeframe of owning a single car.

Paying cash with funds that were already sitting in cash isn't the same as paying with cash you got from selling investments.
Except when you are in a highly inflationary environment that somehow due to the Fed also has insanely low interest rates. Its practically the best time ever to put cash to work.
 

TaycanTurboUK

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Mine was cash, but is a company car so the company paid the cash.
Decent BIK (benefit in kind for non-UK readers) incentive, going for the Porsche actually saved me about £600 a month over the old company car.
 

Silverback

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Company Car route; which to me is a lease, specifically as it is classed as salary sacrifice, which you basically pay no income tax on the lease charges (over £1.2k per month for a Taycan) so this saves you 45% on the income tax you would have paid. You then have to pay BiK (Benefit in Kind tax on a company car, which is a % based on the original car order value each yr) on the car which is hugely incentivised by the Uk gov (used to be on average 15-20%) to buy an EV is down to 1%. So on a £100k car you save a fortune on tax. Probably over 3 yrs it will cost me £25k and as it is a company car, that includes insurance, maintenance etc, just add electric :)
Note: I am not a financial advisor, I am sure i have not included all the right terms, just a summary of the route I went down. Also the BiK is not fixed, the UK gov could up this in the future past the planned 2% (but who knows).
 


Chedman13

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1) save enough cash to purchase outright.
2) take out a loan when interest rates are low.
3) look for investments using said cash.
4) if nothing looks good to invest in, pay off loan early or pay off a portion (e.g. 50%) and wait a little longer to see if something becomes attractive.

I like having dry powder to invest, and willing to pay some interest for the right one.
 

jimithing

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1) save enough cash to purchase outright.
2) take out a loan when interest rates are low.
3) look for investments using said cash.
4) if nothing looks good to invest in, pay off loan early or pay off a portion (e.g. 50%) and wait a little longer to see if something becomes attractive.

I like having dry powder to invest, and willing to pay some interest for the right one.
Agree. I was going to pay cash but if they're going to loan me money under 2%, I'm not turning it down. So I took the loan.
 

andrewket

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Having a car loan and paying it on time can increase your FICO score vs. not having the loan. Twice now my scores have dipped a bit after paying off my one and only installment loan. Once a new loan appears and you've made payments on it for ~3 months it goes back up. One would think that having less debt would be better, but FICO is largely about your payment history and not about your debt/income ratio.
 

hkarthik

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Just financed with a 1.74% interest rate from a national online credit union with about 33% down payment in cash . At that price, it was a no brainer to finance and invest the rest of the cash in the market.
 

andrewket

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KTC

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No one has said Bitcoin yet thought there would be at least one...
Agree. I remember that post where someone said, "I paid for my Taycan with 3 bitcoin. It costed me $800."

:CWL:
 

HRHTHEO

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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.
What credit union? That’s a good rate. I have DCU now and they’re awesome but not opposed to someone else for a rate like that.
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