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SSProwler Prowler Newbie From:Mustang, OK, SUA |
posted 12-13-2000 07:44 PM
    
Being new to the list and in the Prowler buying market. I am preparing myself on the financial side and was wondering how the members of this association are paying for their Prowlers. Straight auto loan (5-10yrs?), second mortgage, business write-off, or what other clever ways to keep the payments low. Im my current situation, cash wouldnt be the best idea! Just curious and would love some ideas or suggestions!!! |
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davidn unregistered Admin Use |
posted 12-13-2000 08:01 PM
ssprowler, first of all welcome to POA. in my opinion I would think that a 2nd mortgage is the best way. why? 1.clear title to the cat. 2.interest is tax deducible. 3. lower rate than car loans. 4.longer terms = lower payments. BTW I have a brand new woodward for sale if ------------------ davidn |
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Nyle Wing Prowler Junkie Personal ScrapBook From:USA. |
posted 12-13-2000 08:40 PM
SSProwler, I sold 2 of my other cars to buy my cat  It was a very hard to do but the Prowler has been well worth it  I think that davidn way is ok to. just do what it takes to get one. see ya ------------------ |
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SSProwler Prowler Newbie From:Mustang, OK, SUA |
posted 12-13-2000 08:43 PM
Has anyone done the 2nd mortgage option? |
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Todd Bertrang unregistered Admin Use |
posted 12-13-2000 09:14 PM
I simply pulled car loans out and plan to refinance them at a lower rate later... Going to be looking into credit union possiblities this next week or two. They have THE lowest rates I have yet seen! ------------------ |
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PhxSuncat unregistered Admin Use |
posted 12-13-2000 09:28 PM
SS - I would think if you are going to finance a new car, a 2nd on your property is the only way to go. Interest is deductible (ask your tax person), where a conventional auto loan is not - big difference if you need the deductions, and as David said, you have clear title to the car. Check out the POA/POL classified ads section. Contact me if you want a new sparkle orange for MSRP. Welcome to the POA website, visit us often. ------------------ |
dpena            POA Site Supporter Administrating Kat Visit Dan's Prowler Excitement Personal ScrapBook From:San Jose Ca Santa Clara |
posted 12-14-2000 01:51 AM
Been blessed and purchased my Prowler cash. I thank God for his blessings in my life! Later... ------------------ |
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NightProwler Prowler Junkie From:Chicago |
posted 12-14-2000 10:49 AM
Depending on your adjusted gross income ("AGI",) while the interest on a second mortgage or line of credit May Be deductible for an individual the tax regs limit the amount you can deduct which is a function of your AGI. If you're in the 39.6% marginal tax bracket (AGI over $288,350 for 2000)then you can deduct 100% of your interest expense/property taxes, but only up to a certain limit which is a function of your actual AGI. For a corporation the rules differ. Don't think for a second that if your earned income is $500,000 and you have property taxes and interest expense of $500,000 =pre-adjusted AGI of ZERO that the IRS is going to let you off for taxes. Thank the outgoing slick Billy for that one. ------------------ This message has been edited by NightProwler on 12-14-2000 at 10:49 AM |
JUST JP POA Site Supporter Prowler Junkie Personal ScrapBook From:Navarre, Florida, USA |
posted 12-15-2000 04:42 AM
SSProwler, I, the poor guy, financed mine for 7 years. Worth EVERY penny. ------------------ |
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Todd Bertrang unregistered Personal ScrapBook Admin Use |
posted 12-15-2000 02:19 PM
Dan, whatcha do for $? Clue us in! ------------------ |
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dpena POA Site Supporter Administrating Kat Visit Dan's Prowler Excitement Personal ScrapBook From:San Jose Ca Santa Clara |
posted 12-15-2000 07:42 PM
.. This message has been edited by dpena on 12-17-2000 at 07:58 PM |
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Lance.d Prowler Junkie From:Tulsa, OK |
posted 12-16-2000 10:04 AM
I have a orange below msrp....phxsuncat..maybe I should talk to you about a referall program as well. email me ------------------ |
Nyle 
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