How are you financing this older cars??
#1
How are you financing this older cars??
Just wondering if anyone has had trouble getting financing for this older cars 01 s 02 s ? . I know I need to call my CU to find out but just wanted to get some feedback .
thanks
thanks
#4
First I financed through PenFed at 1.49%. Then, before even making my first payment my local credit union sent me an offer saying they could beat any other offer and give me $100. So I got an even better rate at my local CU. My local CU does not normally like to do cars older than about 6 or 7 years but given the 911 is a little more special than something generic and holds its value better it was easy to get them to take the loan.
#6
Given the current price of them paying cash is pretty reasonable. That being said I did finance half of my car through Penfed at 1.45%. Doesn't really make sense to pay it off given such a low rate.
#7
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#9
#13
I have the opposite philosophy on this.
If it is between the house and a toy I would rather finance the toy. If I lose my job and want to eliminate monthly expenses quick I can sell a car quicker than I can the house... but even if I could sell the house quickly I would need some place to live. There are also additional costs involved in selling a house not incurred in selling a car.
Obviously, ideal is to be able to pay cash for everything, unless you can make a sure thing of making more money by investing it over what you would pay in financing. Unfortunately, being young I have not had the time to build up the wealth to own my home outright or a nice car. My goal for my next house is large down payment and pay the thing off as quickly as possible. With how things are looking I don't think my interest rate on my next house will be as good as my current.
If it is between the house and a toy I would rather finance the toy. If I lose my job and want to eliminate monthly expenses quick I can sell a car quicker than I can the house... but even if I could sell the house quickly I would need some place to live. There are also additional costs involved in selling a house not incurred in selling a car.
Obviously, ideal is to be able to pay cash for everything, unless you can make a sure thing of making more money by investing it over what you would pay in financing. Unfortunately, being young I have not had the time to build up the wealth to own my home outright or a nice car. My goal for my next house is large down payment and pay the thing off as quickly as possible. With how things are looking I don't think my interest rate on my next house will be as good as my current.
#15
Just went up today, my sis in law just financed through Penfed Monday and it was still 1.74%. With interest that low, it really doesn't make sense to pay in cash and I am the pay in cash type of person.