Topic: TheHire's IS 500 Launch Edition

[TheHire]

I've loosely been thinking about selling the IS 500. As much as I absolutely love it, what I could get for it is effectively what I owe on my home mortgage. There's some redundancy with the LS460 and obviously the IS is worth significantly more on the market.

I'm thinking that I should unload it while I can still get well over MSRP, and drive the snot out of the LS460 as a daily for the next 5-10 years. I'm fortunate to have a few great toys at my disposal, so I feel like this is the right "big boy" decision to make.

Making some calls to figure out what # to sit at.

Pay off your mortgage?  No discussion required.  Do it.

Soooo happy to have closed our final 4 yr term at 1.4% two years ago! Halfway there, soon done  Penalties remove the fun of going lump sum payment on a mortgage, depending on what your contract offers.

Penalties should be minimal on the remaining principal, no?  Annual prepayment privileges?

Yeah so since COVID, we've done all we could. Tripled the bi-weekly payments to minimize interest, putting in the max annual prepayment, we're within ~$100k now of paying it off since buying the home this time in 2017. I know that there are some mindsets that I could invest the money elsewhere and get better returns, but I want to just pay off this home ASAP and not have that outstanding mortgage. Just my personal OCD working here.

I'm going to daily the LS460 for a few years and enjoy it.

[rrocket]

I'm going to daily the LS460 for a few years and enjoy it.

There are much worse things than daily-ing an LS!

[valuator]

I've loosely been thinking about selling the IS 500. As much as I absolutely love it, what I could get for it is effectively what I owe on my home mortgage. There's some redundancy with the LS460 and obviously the IS is worth significantly more on the market.

I'm thinking that I should unload it while I can still get well over MSRP, and drive the snot out of the LS460 as a daily for the next 5-10 years. I'm fortunate to have a few great toys at my disposal, so I feel like this is the right "big boy" decision to make.

Making some calls to figure out what # to sit at.

Pay off your mortgage?  No discussion required.  Do it.

Soooo happy to have closed our final 4 yr term at 1.4% two years ago! Halfway there, soon done  Penalties remove the fun of going lump sum payment on a mortgage, depending on what your contract offers.

Penalties should be minimal on the remaining principal, no?  Annual prepayment privileges?

Yeah so since COVID, we've done all we could. Tripled the bi-weekly payments to minimize interest, putting in the max annual prepayment, we're within ~$100k now of paying it off since buying the home this time in 2017. I know that there are some mindsets that I could invest the money elsewhere and get better returns, but I want to just pay off this home ASAP and not have that outstanding mortgage. Just my personal OCD working here.

I'm going to daily the LS460 for a few years and enjoy it.

I totally get it.  I'm in a similar boat.  Making double payments and doing max annual prepayment.  IMO paying down debt is a no brainer on a personal level....you would need to invest elsewhere at double your mortgage rate to earn the same after-tax return.  And it's risk free!  Then there is the peace of mind you're buying and the freedom you've achieved. 

In a world where we pay tax on income but can't deduct interest on borrowing (and I know that's a broad statement and someone in a more sophisticated personal financial position may look at this differently), it makes a TON of sense to reduce debt with any extra cash.

[Layne]

I've loosely been thinking about selling the IS 500. As much as I absolutely love it, what I could get for it is effectively what I owe on my home mortgage. There's some redundancy with the LS460 and obviously the IS is worth significantly more on the market.

I'm thinking that I should unload it while I can still get well over MSRP, and drive the snot out of the LS460 as a daily for the next 5-10 years. I'm fortunate to have a few great toys at my disposal, so I feel like this is the right "big boy" decision to make.

Making some calls to figure out what # to sit at.

Pay off your mortgage?  No discussion required.  Do it.

Soooo happy to have closed our final 4 yr term at 1.4% two years ago! Halfway there, soon done  Penalties remove the fun of going lump sum payment on a mortgage, depending on what your contract offers.

Penalties should be minimal on the remaining principal, no?  Annual prepayment privileges?

Yeah so since COVID, we've done all we could. Tripled the bi-weekly payments to minimize interest, putting in the max annual prepayment, we're within ~$100k now of paying it off since buying the home this time in 2017. I know that there are some mindsets that I could invest the money elsewhere and get better returns, but I want to just pay off this home ASAP and not have that outstanding mortgage. Just my personal OCD working here.

I'm going to daily the LS460 for a few years and enjoy it.

Well done!

[TheHire]

Deal's done.  Got into the six figures for it.

It's bittersweet because it was the first brand new car I've bought, and I special ordered it.

I do have a GT3 Touring allocation for the next round of production that I was planning on foregoing, but depending on if it happens in 2024 I might just keep that for a bit.

[OliverD]

Deal's done.  Got into the six figures for it.

It's bittersweet because it was the first brand new car I've bought, and I special ordered it.

I do have a GT3 Touring allocation for the next round of production that I was planning on foregoing, but depending on if it happens in 2024 I might just keep that for a bit.

Have a GT3 Touring allocation certainly makes up for it.

[JohnnyMac]

Deal's done.  Got into the six figures for it.

It's bittersweet because it was the first brand new car I've bought, and I special ordered it.

I do have a GT3 Touring allocation for the next round of production that I was planning on foregoing, but depending on if it happens in 2024 I might just keep that for a bit.

LOL, you live a great life my friend.  You could certainly get the GT3 drive it for a couple of months and flip that again for a profit too, so I'd just keep the allocation. 

[tortoise]

6 figures for an IS!  I know it's the most special IS, but wow.

[OliverD]

6 figures for an IS!  I know it's the most special IS, but wow.

I missed that part. Holy hell.

[quadzilla]

Deal's done.

That is sad, how will you sleep at night.

Got into the six figures for it.

I do have a GT3 Touring allocation for the next round of production

Ya, that will help a lot. 

Congrats!

[TheHire]

6 figures for an IS!  I know it's the most special IS, but wow.

It is absurd.

[Dante]

6 figures for an IS!  I know it's the most special IS, but wow.

Isn't this like $90K on the road to begin with? What's another $20K-$30K for someone who really wants it now and has the means? Lots of such people in GTA so no surprise.

Good for TheHire to capitalize on the madness...

[warp]

I do have a GT3 Touring allocation for the next round of production that I was planning on foregoing, but depending on if it happens in 2024 I might just keep that for a bit.

You should go all in and get this, big wing and all 

2023 911 GT3RS

[Gurgie]

WOW!! Nice work!!

Sent from my SM-G970W using Tapatalk

[quadzilla]

Deal's done.

Did you happen to sell it to someone in Cambridge that decided to wrap it in a chemo pee yellow/green colour and enjoys racing through traffic at double the limit? If they keep driving like that, things are going to get very expensive for them.

[TheHire]

Deal's done.

Did you happen to sell it to someone in Cambridge that decided to wrap it in a chemo pee yellow/green colour and enjoys racing through traffic at double the limit? If they keep driving like that, things are going to get very expensive for them.

No sir, I sold it back to the dealership that was kind enough to get me the allocation. I'm still sort of tracking it on the Lexus app, and it's been sitting in Virginia since last week with the doors unlocked. Car has enough mileage on it to have been driven.

Is it creepy of me to not disable this? 

[tortoise]

With great power comes great responsibility.

But do keep us updated on it's whereabouts.