Crown

Why you have no faith in Porsche? 

Carrera GT was't a good barometer, the price collapsed simply because they had to cram 2 years of production into one year. 

Very well edited! Also great presenter and track 

Can't wait for next part.

https://www.youtube.com/watch?v=WBpzIDioYjE

Whoopsy:

Why you have no faith in Porsche? 

Carrera GT was't a good barometer, the price collapsed simply because they had to cram 2 years of production into one year. 

I cannot risk my kids' future just for a hunch...even if the risk was pretty low. For me, this is a lot of money.

Apparently I'm not good with cars when it comes to doing business with them.  Told you about that GT3 RS 4.0 or the used GT2 RS (for under 180k EUR) and other "chances" I didn't take. In retrospect, I could have made a lot of money but I just don't have the guts for it. Same with my Tesla stocks...making money with cars doesn't seem to be my forte.  

RC (Germany) - Rennteam Editor Porsche 991 Carrera 4 GTS Cabriolet, Porsche Macan Turbo, Ford Mustang GT500 Shelby SVT (2014), Mini JCW (2015), Jeep Grand Cherokee SRT (2014)

Topspeed:

Very well edited! Also great presenter and track 

Can't wait for next part.

https://www.youtube.com/watch?v=WBpzIDioYjE

 

SportCarGroup:

Topspeed:

Very well edited! Also great presenter and track 

 

Can't wait for next part.

 

https://www.youtube.com/watch?v=WBpzIDioYjE

 

 

 

Thanks for sharing, really enjoyed watching this vid. When the second part will be released?

In the video details:

"Part 2 coming in a week so subscribe for more! ". There are 3 parts in total.

Finally got my car back from it's 1st annual service. The bill came to just over CAD$1600 plus tax.

A bargain if there is such a thing. 

Whoopsy:

Finally got my car back from it's 1st annual service. The bill came to just over CAD$1600 plus tax.

A bargain if there is such a thing. 

Impressive. Seriously. 

RC (Germany) - Rennteam Editor Porsche 991 Carrera 4 GTS Cabriolet, Porsche Macan Turbo, Ford Mustang GT500 Shelby SVT (2014), Mini JCW (2015), Jeep Grand Cherokee SRT (2014)

RC:

Whoopsy:

Why you have no faith in Porsche? 

Carrera GT was't a good barometer, the price collapsed simply because they had to cram 2 years of production into one year. 

I cannot risk my kids' future just for a hunch...even if the risk was pretty low. For me, this is a lot of money.

Apparently I'm not good with cars when it comes to doing business with them.  Told you about that GT3 RS 4.0 or the used GT2 RS (for under 180k EUR) and other "chances" I didn't take. In retrospect, I could have made a lot of money but I just don't have the guts for it. Same with my Tesla stocks...making money with cars doesn't seem to be my forte.  

Same here... rarely I made money on cars. Once when I sold a F430 which I owned for a week. Other than that I only had to spend.... and always sold in the worst possible moments. All the 911s I sold when they had their lowest low and bought them always brand new on list price. 

First time ever I fell I made it right is the SLS and of course that 356 which by now doubled what I paid for. 

I guess our problem is, we are listening to our heart and not to the brain when we buy or sell a car. I will try to optimize that in the future.

RC:

 

Apparently I'm not good with cars when it comes to doing business with them.  Told you about that GT3 RS 4.0 or the used GT2 RS (for under 180k EUR) and other "chances" I didn't take. In retrospect, I could have made a lot of money but I just don't have the guts for it. 

It is very simple: stop leasing the standard cars of the normal production line  Been there, done that, had enough... 

2015 981 Cayman GT4 | White | Full Bucket Seats | Sport Chrono
2014 991 Carrera 4S | Dark Blue Metallic | PDK | Sport Chrono | SPASM

bluelines:

RC:

 

Apparently I'm not good with cars when it comes to doing business with them.  Told you about that GT3 RS 4.0 or the used GT2 RS (for under 180k EUR) and other "chances" I didn't take. In retrospect, I could have made a lot of money but I just don't have the guts for it. 

It is very simple: stop leasing the standard cars of the normal production line  Been there, done that, had enough... 

Exactemente! You name it! Same here. The only leaser I still have is the SRT as this monster in Germany will probably never find a buyer after me and I didn't wanted to risk to keep it until the end of my days . Other than that - avoid the standards, buy the rare ones. 

Lars997:

bluelines:

RC:

 

Apparently I'm not good with cars when it comes to doing business with them.  Told you about that GT3 RS 4.0 or the used GT2 RS (for under 180k EUR) and other "chances" I didn't take. In retrospect, I could have made a lot of money but I just don't have the guts for it. 

It is very simple: stop leasing the standard cars of the normal production line  Been there, done that, had enough... 

Exactemente! You name it! Same here. The only leaser I still have is the SRT as this monster in Germany will probably never find a buyer after me and I didn't wanted to risk to keep it until the end of my days . Other than that - avoid the standards, buy the rare ones. 

Sure, why not. You talk to my wife, you take my kids with you and you talk to my financial advisor and deal with the tax office.   

I cannot buy "rare cars" as daily drivers and I cannot put them on my business because the tax office will not accept them or they accept only a minimal deduction.

This all sounds great in theory (Bluelines is a great theoretician... ) but in practice, not so much I'm afraid.

RC (Germany) - Rennteam Editor Porsche 991 Carrera 4 GTS Cabriolet, Porsche Macan Turbo, Ford Mustang GT500 Shelby SVT (2014), Mini JCW (2015), Jeep Grand Cherokee SRT (2014)

If only I get any tax deductions for my cars...

RC:

Lars997:

bluelines:

RC:

 

Apparently I'm not good with cars when it comes to doing business with them.  Told you about that GT3 RS 4.0 or the used GT2 RS (for under 180k EUR) and other "chances" I didn't take. In retrospect, I could have made a lot of money but I just don't have the guts for it. 

It is very simple: stop leasing the standard cars of the normal production line  Been there, done that, had enough... 

Exactemente! You name it! Same here. The only leaser I still have is the SRT as this monster in Germany will probably never find a buyer after me and I didn't wanted to risk to keep it until the end of my days . Other than that - avoid the standards, buy the rare ones. 

Sure, why not. You talk to my wife, you take my kids with you and you talk to my financial advisor and deal with the tax office.   

I cannot buy "rare cars" as daily drivers and I cannot put them on my business because the tax office will not accept them or they accept only a minimal deduction.

This all sounds great in theory (Bluelines is a great theoretician... ) but in practice, not so much I'm afraid.

So all the cars in your signature are leased by your business?

2015 981 Cayman GT4 | White | Full Bucket Seats | Sport Chrono
2014 991 Carrera 4S | Dark Blue Metallic | PDK | Sport Chrono | SPASM

All the special cars are two seaters... No interest really. But I was lucky to find the unicorn, my manual 612 trades for more money than I paid 6 years ago 

bluelines:

RC:

Lars997:

bluelines:

RC:

 

Apparently I'm not good with cars when it comes to doing business with them.  Told you about that GT3 RS 4.0 or the used GT2 RS (for under 180k EUR) and other "chances" I didn't take. In retrospect, I could have made a lot of money but I just don't have the guts for it. 

It is very simple: stop leasing the standard cars of the normal production line  Been there, done that, had enough... 

Exactemente! You name it! Same here. The only leaser I still have is the SRT as this monster in Germany will probably never find a buyer after me and I didn't wanted to risk to keep it until the end of my days . Other than that - avoid the standards, buy the rare ones. 

Sure, why not. You talk to my wife, you take my kids with you and you talk to my financial advisor and deal with the tax office.   

I cannot buy "rare cars" as daily drivers and I cannot put them on my business because the tax office will not accept them or they accept only a minimal deduction.

This all sounds great in theory (Bluelines is a great theoretician... ) but in practice, not so much I'm afraid.

So all the cars in your signature are leased by your business?

Yes, with the exception of the GT500 (bought it) and the Macan Turbo (wife's "company" car, also a lease).

RC (Germany) - Rennteam Editor Porsche 991 Carrera 4 GTS Cabriolet, Porsche Macan Turbo, Ford Mustang GT500 Shelby SVT (2014), Mini JCW (2015), Jeep Grand Cherokee SRT (2014)

Of course it is allowed but morally it is totally wrong. In some places in the US to get the deduction I think you need to have side marking of the company on the car. That makes a lot of sense...

Same here... rarely I made money on cars. Once when I sold a F430 which I owned for a week. Other than that I only had to spend.... and always sold in the worst possible moments. All the 911s I sold when they had their lowest low and bought them always brand new on list price. 

First time ever I fell I made it right is the SLS and of course that 356 which by now doubled what I paid for. 

I guess our problem is, we are listening to our heart and not to the brain when we buy or sell a car. I will try to optimize that in the future.

I 2nd that... When i see how much a 965 is sold now...  i almost have to give it away... also my former 993 targa ,same for all the others i owned. Hoping our upcoming boxster spyder will be nicer to my bankaccount.

Even the 996 GT3 i bought an sold last year is now 25k higher on the market :-(

965 3.3turbo/  993 targa / 996 cab /997S cab/996 GT3

Audi R8  //  Audi A6 3.0 biturbo Quattro/Mini JCW/ 993 cab// boxster spyder on order

So in Germany, a 911 GTS 4 Cab (i.e. one of the most expensive Carreras available and basically the same price as as GT3) passes as a company car, but a GT3 does not?  I guess there has to be a line drawn somewhere.

Anyway, it is easy to say you should have bought a certain car using 20/20 hindsight.  Nothing is certain in life...

vantagesc:

So in Germany, a 911 GTS 4 Cab (i.e. one of the most expensive Carreras available and basically the same price as as GT3) passes as a company car, but a GT3 does not?  I guess there has to be a line drawn somewhere.

You can also get a 918 as a company car...if your company makes enough dough to make the tax office happy.  A GT3 is difficult to justify because it may be looked upon as a track car, not a daily driver with lots of room. The 911 Carrera (and the Turbo/S to some point) is a well established business car in Germany, no kidding.

Anyway, it is easy to say you should have bought a certain car using 20/20 hindsight.  Nothing is certain in life...

Of course nothing is certain in life but I try to minimize the risk (with two kids, this is my obligation) and while I may have missed an opportunity or two in the past (or a big gain), I was never close to losing everything or a greater part of the wealth, so I think I'm doing fine. 

There is a saying: There are always lots of heroes after a war. Translated to my situation: I am whining about missed opportunities but I shouldn't really complain.  Life has been good. 

RC (Germany) - Rennteam Editor Porsche 991 Carrera 4 GTS Cabriolet, Porsche Macan Turbo, Ford Mustang GT500 Shelby SVT (2014), Mini JCW (2015), Jeep Grand Cherokee SRT (2014)

SciFrog:

Of course it is allowed but morally it is totally wrong. In some places in the US to get the deduction I think you need to have side marking of the company on the car. That makes a lot of sense...

Why? I am using my C4 GTS as a daily driver to and from work, I drive to patients to make deliveries in the car and so on, it is used at least half the time for my business, believe it or not. Everything 50% or more business usage qualifies, so no issues here. My wife's Macan Turbo is used up to 90% for business use. She uses a driver's log, so almost everything is fully deductible, I am "paying" 1% of the car's new value as a monthly gain, so I don't have to use a driver's log (for now, this can always change).

Considering the taxes (income, business taxes and VAT) the government "earns" with my business (much more than my C4 GTS costs...per year), I think there is nothing morally wrong with driving a C4 GTS as a business car. 

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RC (Germany) - Rennteam Editor Porsche 991 Carrera 4 GTS Cabriolet, Porsche Macan Turbo, Ford Mustang GT500 Shelby SVT (2014), Mini JCW (2015), Jeep Grand Cherokee SRT (2014)

You don't need a Carrera to drive around on a business. In Canada (when I used to live there) you could only use a car as a business vehicle up to $650 a month leasing cost (or 37k in value).

RC, I am making the same point as you.  No need to beat yourself up for not buying certain cars, because back then, there was no way for you to know 100% that it would turn out as a profit and not endanger your family.  

For legitimate business purposes, the GT3 is equally practical to a 911 GTS.  Long as you have folding seats, can fit a lot of boxes back there without the rear seat. :D  That is why I think the dichotomy between the two cars for tax purposes is somewhat false, but the line must be drawn somewhere.  

991 GT3 or GT3 RS is practical only without Clubsport option (aka roll cage).

Try to fit any kind of golf bag in car with Clubsport option.

wantone:

You don't need a Carrera to drive around on a business. In Canada (when I used to live there) you could only use a car as a business vehicle up to $650 a month leasing cost (or 37k in value).

Of course I do. I have to feel good in the car, I have to enjoy my way to work, I have to represent my business and so on.  Well, Germany has a big car industry, so I am glad the 911 is nothing special for a business owner. At least when it comes to the tax office evaluation. 

So in Canada, if I pay lets say 500k in taxes per year and I drive a Ferrari, I cannot deduct the cost for this car through my business? The owner of a 100 Mio. company drives a Mercedes S class for 200k and he cannot deduct the cost for this car from his business? Doesn't really sound right.

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RC (Germany) - Rennteam Editor Porsche 991 Carrera 4 GTS Cabriolet, Porsche Macan Turbo, Ford Mustang GT500 Shelby SVT (2014), Mini JCW (2015), Jeep Grand Cherokee SRT (2014)

Obviously, tax laws in every country are used to support local industries/interests. Nothing new there.

AFAIK, you can deduct the cost up to the posted limit by Revenue Canada. You are also required to log ALL TRIPS made for business with starting and ending mileage, reason for trip etc. You can't claim personal trips as a business expense and therefore these should be excluded. Not sure if they have relaxed the limits now.

Regarding the S class I remember a case where a company bought an S class for its CEO to use and they also had to pay 40% tax on the purchase price (it was 170k) the CEO owed to Revenue Canada as that was a taxable benefit (same as in the UK).

To be fair, if the CRA could figure out how to tax the air you breathe they probably would (oh wait, carbon taxes are on the way). The limits are still around the same for a car, roughly 650 a month, or you can expense your mileage at $0.52 per km up to a certain amount, then $0.48 from there.

RC, you did not seriously try to justify that a 911 is a business car?

Who says a 918 can't be used for business?

http://www.freshnessmag.com/2015/11/14/porsche-918-spyder-police-car/

I don't understand the discussion around business car or not!

What the heck - just drive your cars private and you don't have to argue with or think about the tax authorizations. I never understood the company owners driving cars based on what the government allows them to do. Matter in fact, lots of my friend are now driving their sports car private and just take a daily beater on the company. Today it is better doing things decent and "underneath the radar".

Lars997:

I don't understand the discussion around business car or not!

What the heck - just drive your cars private and you don't have to argue with or think about the tax authorizations. I never understood the company owners driving cars based on what the government allows them to do. Matter in fact, lots of my friend are now driving their sports car private and just take a daily beater on the company. Today it is better doing things decent and "underneath the radar".

You have money to throw away? I don't. I try to deduct anything possible and as long as my tax advisor plays ball and the tax office accepts it, I'm in the green. 

RC (Germany) - Rennteam Editor Porsche 991 Carrera 4 GTS Cabriolet, Porsche Macan Turbo, Ford Mustang GT500 Shelby SVT (2014), Mini JCW (2015), Jeep Grand Cherokee SRT (2014)