Wednesday, October 31, 2007

Scheduling a Ferrari Test Drive

Just sent Joe an email, we are going to schedule a test drive for tomorrow or Friday. As luck would have it I need to meet with one of our clients in the area. The red car may not be available to drive but they have a Maserati with F1 gear box to drive for comparison.
Had an interesting conversation with Scott Goldstien, a friend who is the chief investment officer at a local bank. We discussed the best way to finance the car. After a couple of false starts – essentially car loans or personal lines of credit we decided that given my situation a line of credit on the house would be the best option because I can write off the interest. That should result in an interest saving of almost 30% or between $3000 and $4000 for the year. I will include a complete break down of this financial structure when I get the details from Scott. I wonder if it is too risky to do an interest only loan for the first year do get an even greater write off? I will have to do the math.

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