How I Was Able To Buy A Ferrari & A Porsche
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- เผยแพร่เมื่อ 22 พ.ย. 2017
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Huge thanks to Magnitude Finance for taking part in the video. To use their car finance calculator or to find out more information on them, please click this link;
www.magnitudefinance.com/
See my original video talking about car financing with my McLaren 540C;
• How I Was Able To Buy ...
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Music:
Oh My Luvv by Jef2
/ oh-my-luvv
Watts95 by DJ Grumble
/ watts95
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Filming & Editing by Sam.
What I Use To Make My Videos:
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Intro Music - Holismo, Sheldrake by Seiscientosdoce
Channel Art & Intro Photography by Adam Shah [ / adam_shah_ ] & Chris Williams [ / munch997 ]
Thanks for watching SeenThroughGlass. If you liked this video you may also like videos by Salomondrin, Car Throttle, Shmee150, Supercars Of London, MrJWW and Petrolicious. - ยานยนต์และพาหนะ
![Driving My Ferrari 360 To Italy [Day 1]](http://i.ytimg.com/vi/m1HjjGLbZtU/mqdefault.jpg)
Car financing isn’t always the right way to buy a car ... it’s definitely more expensive. It’s also not the only way to be able to afford the cars of your dreams but if you want more info or to use the Magnitude calculator to work out some example prices, visit www.magnitudefinance.com/
Seen Through Glass What would happen if I Tune a M140i to 500+hp ?
This is strange, I thought most financed cars. Is it just a US phenomenon?
Seen Through Glass ooo STG plate on the Porsche or not?
Patryk Slowikowski I know a place that could help you: BR-Performance, they have a lot of experience with BMW. If you need more information you can contact them 🙂
When GM want's more for a 4 banger Camaro than what the V8 used to cost . When the cost of living goes up by 200 % , and the ability to earn stays pretty much the same . When car companies aggressively try too sell cars , to people who can't afford a used car let alone a overpriced new car . When a mini van costs more than a Corvette did 20 years ago . Pretty easy to see why financing is such a big part of buying now days , also easy to see that the best car is an undervalued used car .
All the money he saves on shampoo ;)
I want to see a Picture of him with hair 👌🏼 can’t picture it
Here you go, ssl.c.photoshelter.com/img-get2/I0000bcme8YkBWkQ/fit=1000x750/DON-SUT-240.jpg
Hob lol
Lol
Sam is sponsored by Wash and Go, and it sure has gone!
For people who don't get financing and if they should do it I will make it real easy for you. If you finance you get what you want right now and just pay a little of it off each month. However, at the end you'll have paid more due to interest. Your interest payments are the most important. In the US, some of these sketchy used car places will sell you a $5000 car with 0 down, and low monthly payments for 5yrs. The problem is once you do the math you realize you're paying $17k for a car that is worth 5k.
Also, if you don't have the money to make the payments you're fucked. If you go to sell the car and it depreciated in value you'll owe the difference. This is what happened to Sam when he said he had to pay 5k to sell his Alfa. Of course, if you don't have the money, again, you're fucked.
Your credit also matters a lot. Good credit might mean you can pay 2% interest. Bad credit means you might be paying 20%. On 100k car 2% is only an extra $2000, but the bad credit person would be paying an extra $20,000. Massive difference.
Most people don't do the math to see what the actual price of the car is with the interest. Also, they don't calculate how much deprecation might be on their particular car in a few years when they might sell it. If your 100k car drops to being worth only 50k when you sell it and you had bad credit. You will sell it for 50k and still owe the remaining 50k (minus whatever you already paid in payments) plus the extra 20k (20% interest) and are fucked. This is why so many people get totally fucked financing cars.
Finally, the extra money for your car payments could be used for investments that make you money instead. This is how the rich actually get rich. You live like a bum for 15yrs using literally all your cash to make more cash and eventually you're rich. Everyone else around you financed their life away and have no more money from where they started. They might earn more at their job, but just spend it on higher payments.
The choice to finance or not is up to you, but don't let your emotional wants ruin your life. Be smart and actually think about the purchase. Sam makes videos and earns money from driving these cars so it makes more sense for him. You probably aren't like that and have to be a lot more careful.
Thank you for your time that went into writing this comment.
Nice advices bro... Thank you so much!
No problem guys. Seen way too many people go completely broke from financing and had to share.
Great comment dude
Thank you so much, what an advice 🤜🏼🤛🏼
That's me in the background at 2:55 (the postman!). I tried to say hello to you guys when you were stopped outside the pub but unfortunately you were just pulling away! Oh well, it was cool to see you on the road!
claytonfarlow76 haha well spotted
Honestly my favourite car 'fleet' on youtube keep it up sam you're a friggen legend!
Sam, your videos are always fantastic but seriously mate, please just go into London, or any other city for that matter and do some POV vlog car spotting. Take it back to its roots!
Absolutely agree! I really like that type of videos! Maybe another SOL MrjWW Shmee STG spotting video? If they only had time to meet up😅
Great video, I used to work in the financing sector myself so completely understand how it all works and the pros to it. The main expertise when it comes to cars however is working out the residual value of the car through time! Very clever people out there that know the market.
Forget all this work hard talk, its too ambiguous - Work smarter! a guy working 12 hours flipping burgers at burger king is working hard, its just not the smartest use of his hard work.
+Patrick Peter What if a guy can only get a job in Burger King? And working his ass off gets him a manager position in BK, then a regional job, then head office. In my mind hard work is the answer
You are truly an inspiration
Sam - If you think my comment sounded like i were belittling someone working in Burger King i am not - in fact i was stating that every one works hard in their employment (whether of choice or not). i agree with your point everyone has to start somewhere and it’s about good hard work ethic to better yourself and nothing against Burger King and using the job as a means to go places and work his way up, hats off to him, probably not the best choice of example to use... ‘ I agree it’s about working hard and having an end goal, so you’ve something to work towards. Working smart and efficiently as well as working hard all comes into play if you want to get somewhere in life and go places. Hard work IS part of the answer/equation - working smarter is the other part. In my experience I have found the latter to be more effective for success.
But... But... But... Those Burgers taste so good!
Thats not what he means. If the burger flipper worked hard at learning a trade he would have a better job. No one makes money from his own sweat.
Happy for You Sam!!!
thanks for the honesty ... you're the only car youtuber i watch now
Great video sam, found it really interesting as I work as a business manager in a dealership, keep it up man
thanks sam. this was a really helpful video. i dont know why people giving you grief but ignore the haters. enjoy the cars and look forward to more content and honesty.
Great video Sam, thanks for making it. Good info
Hey Sam, recently discovered brilliant channel. Obviously some of the other car ones are much more entertaining and exciting with various car engine notes, However this is really informative and useful. nice one!
Great video happy thanksgiving
Really interesting. Thank you. I keep looking at financing my next car. I am going to check out the website
Fair play Tim you explained everything extremely well and clearly.
Really enjoyed this Sam!!
THIS IS WHY I LOVE THIS CHANNEL. NO SHIT! ONLY GENUINE TALKS.👍👍
Great video! Thank you.
I will be buying my ‘first car’ next year and have my eye on either the RR SVR, a 458 or Huracan. Can. Not. Wait.
Great discussion provoking video Sam. Like you I always finance. People tend to forget that buying with cash still involves taking money from savings or other disposable income. You buy the car but you still need to replace that value while also saving again to replace the depreciation. Most car purchases involve loss, unless you're in a manual Italian super car of course!
Great video man !
You’re gaining subs!!!! Amazing
May i just say that i love the Cayman because it has that sleak look of the 360? The first generation looked even more like it. And now you have both beauties! Well done mate!
Genuinely happy for you even though we've never met in person.
Cheers for the great video, an eye opener.
Cheers Sam. I've always wanted to know more about financing cars.
Great informative video Sam...👍
Great video sam very GOOD advice.very helpful
great vibe to the opening scene, feeling groovy
CARRY ON WITH PODCASTS I MISS THEM!!
Love the Cayman Sam, such a great looking car!
You deserve it ! Love the car's , keep doing what you do .
Thanks for this insight on how you buy your cars.
Love the videos matey, that Ferrari is awsome!
How much are you paying for both cars a month?
Good question! I am really interested in that 🤔
I have never thought of approaching a broker to get finance for a car... Mortgages, other expensive toys including brokers to get insurance for these toys but never to buy a car! Thank you Sam.
Why not just talk ACTUAL figures? how much you pay for your cars? it always has to be a secret and I don't understand :/
Because bank-sponsored videos like this are all the rage, as they get lots of likes ... Forgetting to tell people it also can be used as a business expense ... etc, etc.
because it is huge figures that he cant pay from yt ads and deals. Plus insurance,gas,roadtrips,apartment in london and someone still think that he is paying all that from yt ... people would attack him hard.
pacoo 97 He's clearly paying for them ei5h TH-cam money, and sponsorship/paid "ads" for banks.
He may not be as big in Europe as America, but StreetSpeed717 has come right out several times and shown on his videos what he makes from his TH-cam videos, and it's a lot (~$2K per video, and he uploads almost every day).
Nick JR People generally don’t want to publish how much money they spend in a public forum. I wouldn’t want people to know how much I’m spending either.
If you can't afford it, don't buy it - never spend money you don't have.
I'm just old fashioned that way...
And being that way means you have nothing.
Red TV Productions - NO it simply means when you get it, it really is YOURS and that you are not a ‘spend-to-pretend’ type like the world is awash with.
What rubbish. You must be very young and on a fixed low salary to have that view. No one should ever buy something they cant afford. Life is about what we do, not what we have got. I have had 27 brand new cars and when I buy a new one, I never turn around to see the old one as I drive away. I believe people should never have the same house, job or wife for 40 years.
im that way too, wheres the fun if you are guilty driving a car you like?
What horse shit. Whether you saved X amount of $ per week, or pay a similar amount in repayments each week, it is still the same affordability, Does that mean that people should buy houses with cash too ? So I shouldn't have bought my $750,000 house because I didnt pay cash for it ?
Very cool he agreed to explain everything.
Awesome video!
The harder you work the luckier you become - Simple as that! Great insight Sam.
cool vlog...keep up the good work ;)
Amazing again Sam STG wow nice Ferrari and Porsche 😲😲😲😲😲
More Ferrari videos, absolutely love it!
For those that say he's stupid he's buying things he can't/ couldn't afford, just doesn't understand that most people are in debt anyways and we all as car enthusiasts love to drive nice cars, no matter income
Sam you need to change your intro picture it's outdated with the biposto and the McLaren hahah
As a young person looking to get into a second car after uni, am I better off saving now for a nicer car later or financing/leasing reasonable cars now and saving less, but having pretty awesome cars for longer? Thanks :) really awesome video by the way
I’ll always continue to support your videos Sam, because it’s clear & obvious about how much you appreciate the fine cars you have. You’ve worked hard and deserve these cars, and you don’t take them for granted. Keep up the good work, and keep appreciating what you have because it’s noticeable.
Not sure what a lease entails in the UK, based on the info provided at the beginning, but in the USA a lease is not just simply renting a vehicle as they mention, it is paying it off with a balloon payment/residual that you know up front that is going to be payable at a predetermined date (the end of the lease) if you wish to keep the car, or you can give it back (usually with a small fee). This is why a lease is such a great way to own an expensive car, however as mentioned it is harder to get out of than a straight purchase or finance.
Very nice video and informative for someone who hasn't ever owned a car but where is the new intro with both the new horses.
Did you finish each contract off before getting the next car or is it constantly updated monthly payments and residuals? You had said you paid 5 to end the 4c contract but did you do that for the McLaren ?
Hey Seen Through Glass, you saw our group in Cambridge. Your girlfriend took a picture of us on a bridge. I was so stunned to see you as I have been a long time subscriber and now meeting in real life was crazy. If you want to shoot a video of a BMW e36 cabrio LHD here in UK hit me a message - may be a bit different from your usual vids.
Quality vid as always.
Magnitude's phone ringing off the hook now.
Your 718 has some extremely low (below 150Hz), but loud, bass noise that interferes with the ability to hear the conversation. Your 360 isn't nearly as bad (possible because it is noiser across the spectrum). Most people won't have a problem because you need decent headphones or speakers to hear it.And no, I'm not one of those guys who turns up the bass! Perhaps you could cut it by tweaking the equalising in the video edit.
Same issue here! EQing your videos slightly would really make things better, @SeenThroughGlass!
+Mark Porthouse Yes I’m aware of this and trying to find a solution
There may be an equalizer in your video editing software. downward curve cut everything below 200 hz on the audio channel for the video.
Hook people up with an Instamic.
Most pointless and irrelevant comment in the history of TH-cam, well done!
Hi Sam, appreciate the effort required to make each video, however I'd love to see a behind the scenes, from concept, to shooting, edit, to upload, this may help us understand whats required, and who's involved. Keep up the good work.
Good video
What sort of rate do you get with magnitude Finance?
And do you go for pcp or hp ??
Thanks
I've only financed and am a firm believer that leasing is throwing money out the window, but then I have outstanding credit score and pay them off in less than 3 years time.
Anyone else really like the look of the new 718 Cayman/Boxster? It's really growing on me.
I am!
Sam I’m sure you know but if you don’t, dub customs are rewrapping steering wheels, why haven’t you got your 360 in yet for a quick steering wheel refresh
I had a look on their website. Surprised to find the quote I got directly from Porsche was cheaper than the one quoted by Magnitude.
Surprised at how much the issue of car finance has raised such a heated debate. More alarmingly surprised at how easily people can just arrive at a conclusion with little financial acumen. Comparing finance for a car (depreciating asset - loses value) to that of a home (appreciating asset - increases in value) is very misleading. In most instances in the developed world property prices increase over time at a rate or above the rate of the cost of borrowing (interest cost) thus it can make viable sense to borrow (mortgage) to purchase a home, that is to say in the long run the increased value of your home should be at least equal to or greater than what you paid in interest plus you have the benefit of living in your home. In the case of a car very few instances will occur where the value of the car increases beyond the cost of borrowing. The accumulated cost of borrowing (interest payments) plus the loss in the value of the car (depreciation) when its sold is ultimately the cost of "enjoyment" for using the car. As long as you understand that and can accept that cost then there is nothing wrong with financing a vehicle.
What Sam fails to elaborate on is that his cars as enjoyable as they are, are essential to his business of being a professional you tuber much like it is justifiable for a professional chef to spend on a very expensive kitchen or a professional photographer to purchase the best camera gear. It is like the cost of plant and machinery for a manufacturer - it loses value but it is required by business that makes money. If however you are an amateur cook or a hobby photographer or car enthusiast doing it for your own personal enjoyment then it is a very different proposition.
Finally comparing finance of car to that of a phone .... where do I even begin!
Sam love your work, you have over 300k subs. With that level of success comes a degree of responsibility and awareness of what your commentary can do to influence the minds of aspiring young minds. I hear your emphasis on hard work but I suspect many younger viewers would simply hear "how you can get behind the wheel of a supercar"
So this doesn’t cover HOW YOU afford these cars.... Just a guide to finance deals that to be fair, anyone in the market for these kind of cars don’t need a beginners guide to finance. They either have the funds available or are clues up enough without the need for this. Seems more like you just did this video to plug a finance broker
Lease definitely has it positives. Brand new car and its usually quite a bit cheaper on monthly payments than finance, however I'm aware you don't keep the car but if u can afford lease payment then you know can get a new every couple of years
I don’t have a problem with Car finance. I’ve used pcp and HP previously. What I would like to know is how do you sell these cars, “early” in the finance agreement? Does the new buyer pay clear the existing finance? Are buyers not cautious of purchasing a car with existing finance against it? Great vid!
You have to pay it out before you can sell it. Simple. If the new buyer pays then that money goes towards the finance company. Its not yours to sell.
Can't wait to see Seen Through Glass Companies House Account.
"Word hard, buy cars". Now that sounds like a great philosophy of life tbh. I'm in!
I think I'll make a video on how I was able to buy a Hyundai and a Kia.
Would've loved to have a realistic example of month rates for someone with an average Joe job and the cars that go with that rate. And... to see how things look when you keep a car for 1 year only, keep it low mileage and then bounce it off without too much loss... then to see how much you actually ended up paying in total for 1 year ownership.
What a fantastic video thanks so much for doing this!
I pay monthly for my car purely for the added benefits of free warranty and servicing. Financing is great depending on the circumstances
How you afford it insinuates how you got the money to pay for the monthly, you didn’t talk about that once. The whole video was simply a promotion for a finance company, to help you get a better deal on your next car.
Like borrowing money for anything; if you can afford it then fine, if you can't then you're in for a bad time and you will find it much harder to borrow money in the future. For me i don't own a car of a value high enough to warrant financing, but in business use where you may be able to write off certain costs on tax it does make sense.
great vid
Sam, question would it be better for me or anyone else looking for a first car to go down the route of financing s it would be cheaper in the long run than just buying out right, I'm asking because I'm sure many of us young drivers know the insurance can be ridicules for 17/18 year olds.
Could you give us a little bit more details on the topic of selling the financed car. I understand the deposit and the monthly payments, but when it comes to selling it, what happens? Who gets the money? Do you give a fraction of it at the company? Also, when you have payed all of the monthly payments, do you then "own" the car?
You sell it like normal but have to pay the balloon at the end. If leasing you pay the difference owing on the car. If jot appreciates then good, but how often does that happen? The main benefit is tax deductibility but you have to use your car for business use.
Hi Sam, looking to finance a McLaren P1 on £10 a month with no deposit. Hope you can advise. Cheers, Bambi La Choi.
If you were somehow able to do this in 2014 when it was new at the base price of £866,000 then at £10 a month it would take 7200 years to pay off.
At the current price of £1,500,000 it would take 12500 years.
Have you considered buying the Jaguar XJS 6.0 XJRS 1992? IT HAS A V12!
Great vlog. Very informative. But you really really should give us true transparency and numbers otherwise it’s just got air. And it would be great because we are all bloody nosy. Good work chap!
Didn't you see the link for a quote?
My take is never fall for the “what is your monthly budget”? question. Always ask what the total PURCHASE PRICE is across the term, including charges. A package can within reason meet a monthly payment specified by inflating the final value at the end. This is fine if it’s a guaranteed future value and if you plan to run full term, however, all a higher end value really does is to lower the monthly payment but also provider greater risk to negative equity, plus, you’re always paying interest on the final value too, which you’ll never technically pay back. Recently I asked a Business Manager to agree to a certain monthly payment, but I knew as the APR was high at 9.3%, that the only way it would be possible, would be with a a very high end value. This meant that in the first year, hardly any capital was would be being paid down, with the majority being on swallowed up by interest and so if I wished to get out of the deal at say the end of first year, there would be a very high chance of negative equity. Personally I like taking a personal loan at a very low APR over a longer term to keep the monthlies down, but also knowing that my settlement at any point at say month 36 or 48 will always be much lower than a typical final value on a balloon HP or PCP and hence they’ll be much more chance of positive equity in the deal.
The last time I saw someone less comfortable than Tim sitting in the passanger seat, I was the driver.
Paying interest on a depreciating asset is always going to cost more than an outright purchase,but not many people have circa £130'000 to lob on the table.
However for Sam,the cars are his living,and he has built a business around them,which means he can use every tax break available for business use (which every time they appeare on a vlog they are).
Debt, Debt, Debt. Borrowing money to buy a depreciating asset is not very sensible.
Beano yep most of the world lives off borrowed money. It’s gonna be scary when it this bubble pops!
I agree re his choice of Cayman. That will depreciate like a stone. But the Ferrari 360 will not. It, being the manual, red, with tan leather, will hold it's value if not climb. Personally I'd have put the money on an equity loan but that's me.
Agree with you but if you own it for less than 2 years. You'd only be paying the depreciation and not the actual cost of the car.
Which is why leasing works for brand new cars, unless you believe the car will appreciate.
You should think about putting an aftermarket exhaust on both of your car
Having checked their website out its pretty clear they don't cater for most people, get far better rates through the dealerships. I was quoted at 3.7k interest with them and only £1300 through VW plus the advantage of their £1500 deposit contribution makes the Golf R about £3900 cheaper financing through VW....
The only question I have is this: Does your business pay for the cars or do you pay for the cars? As in, the monthly payments do they come out from your company or from your personal bank account?
My business pays for my car and my rent.
Pushing finance on cars is pretty irresponsible. Cars generally lose large amounts of money and financing - however you look at it - is an expensive business. Your target audience are generally young and impressionable car enthusiasts who would love to have cars such as yours. What they should be doing is saving their money and looking to their futures, not joining the current 'I want it all and I want it now' way of thinking which could end up ruining their futures.
Sam I think it would have been good to have made a clear distinction between average daily cars which suffer much higher rates of depreciation compared to exotics.
Financing vehicles is by far the best way to do it. Even if you just invest your money in simple index funds, the long term rate of return will easily be better than the financing rate on your vehicle. So it's always best to put your cash in your investment fund, and finance your major purchases through lower monthly payments. Upfront cash to buy a fancy car is a huge opportunity cost.
Sam, you keep saying in comments about keeping a car 3 - 4 years, but you never keep a car that long. So how does that impact on the next deal? What are the penalties? I Currently have a 1 year old car on a HP agreement. I wanna upgrade but not sure what to do or where to get a good deal. Can u advise me on that?
When you're doing talk-like videos, ensure that you partner has a mic or figure out a better way to capture sound. Enginge and road sounds are louder (or as loud as) your voices and it's not as pleasant to watch. Anyway love your work, and keep it up.
+Szymon Brygidyn Yes. Apologies. I’m aware of the issue and trying to fix it
Sam just wondering, are you not going to have the car plate you used to have on the banana car？00I0STG
For your classic car you should check out the Jaguar XJS 6.0 XJRS 1992!
That was interesting 👍
How does it work when you want to leave the agreement early?
You have to pay it out.
All the people complaining that this is "bad advice" are clearly missing the title. " how I afford a Porsche and Ferrari". Now if this video was called "how to make money by owning 2 exotic cars" or "how to be the die with the most money" I'd understand.
You're all just mad you realised you can't afford this stuff like you thought you may be able to when you clicked the video :-)
Another Tim, another blue sweater
Happy american thanksgiving everyone!!
I can understand why people want to have PCP finance deals for cars you want. Personally I feel they are horrendous deals where you lose out on interest rates and a huge lump sum at the end. I have very recently bought the car of my young 20's dreams by lumping half the value of the car upfront and pay the rest off with a low interest rate until all is solved. This was better for myself, the only other way I would have been happy to buy my new car would be all in cash. An interesting approach when you have tonnes coming in but we don't all earn lots of money definitely touts to the richer part of society. Let's help the little guys when the big rich guys can already afford these cars. Interesting video Sam, would have been even better to have heard some numbers (up front, per month etc) even if they were just examples