No, I didn't need a same-day loan for $100k to save my company recently, and then decided once I was cash flow positive to throw $50k away on a depreciating capital expenditure when I could have financed it at 2% and deducted the interest.
I mean, that's just dumb.
Lol you are misrepresenting facts again. No imminent bankruptcy, no saving the company. Just ordinary course of business stuff. Are you even out of high school? Your hysterical misrepresentation of facts just amplifies how stupid and uneducated you really are.
Needing a $100k same-day emergency loan is not "ordinary course of business stuff".
You did mean one-hundred-thousand, not one-hundred, right? Maybe I misunderstood
People seen pretty quick to judge from a book. I bought some equipment,was going to pay but hard to pass on2.5% interest. Bought a new Malibu couple years ago after getting hosed on two used cars. Bought a new ram 2500 for $31k last year. Buying a used work pickup is dumb. Not enough depreciation. Maybe when I'm older I'll treat myself to a fancy pickup but my family loves the room in the Ram.
Is this all real world experience talking Splits? Sometimes the playbook changes as the game goes on. Maybe a.deal.comes up.after the.loan is maxed? Great to be elastic.
Fabbs is a re , no need to argue with him.
Fabbs is a re , no need to argue with him.
So you also graduated from the Liberty school of economics with a theology degree?
What is "elastic" is that a bank will give you a loan one day, and not give it to you the next. That's the nature of small business. If you tried to get $100k loan during the final year of the Bush presidency, you would be skull ed and told NO. If you had $50k on hand to pay off some of your debtors, you could survive as a business. What CC is trying to sell you is that he is sooooo smart that he had $50k in cash right after he had to take out an emergency loan of $100k in order to pay off his debtors because his cash flow was ed up, and then decided that he couldn't make more than 2% on his $50k so he decided to pay cash for a captial asset that depreciates faster than almost any other asset you can own.
There is no other "playbook" to look at. This is finance 101. He ed it up and he refuses to admit it. Well, unless he is lying about his $50k truck or the $100k emergency loan he needed to cover expenses because his cash flow was ed, and he would have otherwise bankrupt his company.
This is basic stuff guys, c'mon.
So no small businesses qualified for an impromptu 100k loan that year? Interesting.
That's your takeaway? SMH
Of course small businesses obtain credit when credit markets are fluid. There are plenty of reasons for small businesses to take out lines of credit. Perhaps they want to upgrade their facilities, expand their market, hire additional personnel, etc etc. In a "normal" business environment, they can secure those loans without much scrutiny. In "abnormal" business environments, banks apply greater scrutiny and refuse such loans. If you're a responsible small business owner, you should have cash on hand to deal with "abnormal" environments in case hits the fan. CC didn't do that. He survived this time. His bank gave him the emergency $100k, but you can't always count on that. Credit lines can be retracted as quickly as they are granted.
Instead what CC did is completely irresponsible. You don't take out a $100k loan to pay off debt in an emergency because you can't properly manage your cash flow, then turn around the next day and be like, "oh hey I got $50k I'm gonna buy myself a fancy new truck with cash instead of having a bank give me free money".
I can't believe this is even debatable.
I see absolutely nothing wrong with buying a nice new car. Some people love to drive,and in comfort, while they are driving. I have a friend with one of the really fast Teslas and he loves the thing. He rockets off down empty streets to let me feel the acceleration. He gets endless fun out of that thing.
I am not one of the aforementioned who loves to drive. When I travel via plane and get picked up, its usually in a nice car simply because the clients think the people they are picking up want a nice ride to their site. I personally don't care but obviously some of the folks they pick up do. They want you to arrive comfy and ready I guess.
Opportunities don't wait. I've made major purchases that I didn't have the money for because I have a good relationship with my banker. I don't really know or care what he used the funds for but people don't like making deals with someone who can't do things on a whim. Folks who love the low interest rates offered sometimes find it easy to get over there head's on loans.
well cowboy, sometimes the kids just don't get it.
Yeah, Splits is an ignorant troll I should have just ignored. For someone who tries to pretend he understands business you would think he would have heard of bank credit lines for individuals and businesses with impeccable credit. Only really stupid people would try to stubbornly continue to make the case that financing a 50K depreciating asset for 5 or 6 years is good business. Arguing that tying yourself to a 5 year, $50,000 amortization schedule is superior to paying $150 to borrow 100K for a week proves he is clearly an idiot.
Anytime you hear some idiot using "well it's deductible" to a business acting like it's free money you know they don't know what the they are talking about. It's not like it's a personal tax credit.
Just paid off my lexus last month... only 88k miles on it, plan to keep it until it starts to fall down... car is loaded and a joy to drive...
Thanks, boutons.
Interesting heat sink design. Have you had any heat issues with them, and how warm do those braids actually get? The site says they'll fit my truck so I think I'll try a pair.
I can see what Split is saying...but anyone who runs a small business knows that covering short-term happens...I would have to lower CC's company rating to B+ though...
the headlights sockets where they plug in are kinda worn, so the LEDS don't stay put. I'm probably gonna put little drop of gorilla glue or duct tape to hold them.Thanks, boutons.
Interesting heat sink design. Have you had any heat issues with them, and how warm do those braids actually get? The site says they'll fit my truck so I think I'll try a pair.
a couple times, I've popped the hood after a long night drive and fiddled with the LED positioning, the braids were not even warm to touch, kinda weird.
If you brought the copper "radiator fan" through the dust cover like in the video, and there is some air flow through your particular car in that volume and the night was cool, I can see it being cooled quickly.
All of my cars are leases. I own a truck, and it cost more than 25K, but I don't care.
"till the wheels fall off"
Any 3/4.ton or.bigger pickup (truck must be a southern thing) it's almost a terrible thing not to buy new these days. Not enough depreciation.
It's a 3/4 ton. 5.5K miles in 3 years lol. Just sits there, looking lonely.
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