Wells Fargo is pretty good on car loans as well. I did a refi with them a while back and get a good rate. Very easy to deal with as well.

 

Also might want to check PNC, they have some good rates.

 

Agree with BOA. 2.74% on my 997.1

 

I cannot believe people are financing at this level, what are the payments like $1500+ per month + insurance?

cash only

 

you paid cash for a 2007 turbo ?!?! (and you're ONLY 40)
you must be a rockefeller, right ?

 

I wouldn't finance a pleasure car either, but the OP's priorities are up to him alone.

Although, with interest rates as low as they are these days, you might actually be able to grow the cash faster invested elsewhere if you're aggressive. Not my cup of tea, though.

 

+1 - just go to any credit union. The rates are unbelievable.

 

Precisely never invest any cash in a highly depreciable asset. Not a finance guy but in today's market a proper investment of cash equal to the value of the cars we all love can cover the payment .

 

I'm not a finance guy either, but I hear spider monkeys are the way to go in the current economic climate.

 

say wha??? whether you have the $ or not, why would anyone pay cash for a $150K car when you can finance for 2.5%, have a write off on the principal and interest on both state and federal levels (assuming you're self employed) and get 5% on tax free bonds??

The difference in the rate arbitrage alone is like giving away $15K (tax adjusted) over 5 years for the pleasure of paying cash

http://www.matadors.org/rates/loans.html

 

When I bought my 2011TTS in April I planned on paying cash because I don't like the idea of a payment. After spending 10 minutes negotiating the price, I spent the next 30 minutes trying to convince the salesman and finance manager that I didn't want to do a loan because my $ in the bank was earning .49. They started out with 4.25 and finally I gave up at 2.25, with automatic withdrawal. It was through BOA. I am sure if you shop around you'll find a bank or credit union willing to do the loan at good rate.

 

A previous thread mentioned pentagon federal credit union.
there were great to deal with....easy to get a loan with ....AND
doing 1.9% loans...

highly recommend them

 

http://www.sccu.com/personal/vehicle-loans/

1.99% Go get that car.

 

Penfed is great but they will only loan up to 70k on a used car period.

 

Thank you all for the advice...

I spoke to the dealer this morning and it appears the additional income and bonus was approved, however my current car is not yet paid off and that is what's holding them back. It's for sale, and isn't even being driven, but Chase needs proof that it's sold (I guess they don't think I can hold two car payments?).

Dealer's finance manager also said he has a few other options that he will try. In the meantime I told him this is the car I want and I will not be giving up.

Anyway, I will be going through some of the options you guys have mentioned, including Bank of America, who I have been with for 15+ years. I'm not sure about a Federal credit union since I'm not affiliated with the government/military.

For those of you not financing a "pleasure car", I envy you that you can pay cash for a car like this. I'm obviously not as wealthy as you are. My wealth, if you can call it that, comes from being single and having the ability to save very well. That being said, I still don't have $100K laying around.

Thanks again all.

That is correct. Fortunately, my finance amount is $71,800 haha. I can just easily make it $70K even. It's also 60 month max, which is fine.