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 7Likes
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4
Post By PSB
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1
Post By fordracing65
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1
Post By DrivinWest
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1
Post By Cashburn
07-31-2015, 07:30 PM
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CC Member
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Join Date: Jul 2015
Cobra Make, Engine:
Posts: 25
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Not Ranked
The Best Source for Financing?
I have used Premier Exotic leasing for my other toys. But they wont lease a kit. Who do you guys recommend?
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07-31-2015, 07:57 PM
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CC Member
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Join Date: Mar 2000
Location: Dayton,
OH
Cobra Make, Engine: RCR SLC, Graziano 6-spd, LS3
Posts: 914
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Not Ranked
Your savings account.
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07-31-2015, 08:28 PM
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CC Member
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Join Date: Jan 2009
Location: Las Vegas,
NV
Cobra Make, Engine: Shelby CSX4005LA, Roush 427IR
Posts: 5,462
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Not Ranked
Toys are bought with cash. It's OK to leverage, but don't go into debt.
__________________
Cheers,
Tony
CSX4005LA
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07-31-2015, 08:46 PM
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CC Member
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Join Date: Jul 2015
Cobra Make, Engine:
Posts: 25
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Not Ranked
Ok boys I forgot whenever folks bring up financing there's the requisite fiscal responsibility lecture. No worries here. Can more than afford to pay cash. But rates are low and my investments outpace the interest rate on my 997TT for example. So I put $30k down and financed rest.
So too with this coupe I may get.
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07-31-2015, 09:01 PM
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CC Member
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Join Date: Feb 2004
Posts: 149
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Not Ranked
Never heard of anyone financing a replica to build. Credit Union perhaps?
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07-31-2015, 09:12 PM
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CC Member
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Join Date: Dec 2010
Location: Tempe,AZ-High Point,NC,
AZ
Cobra Make, Engine: Kirkham #684, 482FE, Mike Mccluskey build
Posts: 2,520
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Not Ranked
I will finance you, let's work out a deal on payments...I have a dealers license for cars, I am the BANK...
__________________
PRIDEnJOY
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07-31-2015, 09:32 PM
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CC Member
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Join Date: Jul 2015
Cobra Make, Engine:
Posts: 25
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Not Ranked
LOL. I have heard JJ Best. But I've so heard bad things about them. May just do cash after all.
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07-31-2015, 09:59 PM
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CC Member
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Join Date: Dec 2010
Location: Tempe,AZ-High Point,NC,
AZ
Cobra Make, Engine: Kirkham #684, 482FE, Mike Mccluskey build
Posts: 2,520
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Not Ranked
I tried my Credit Union, they would only give me a personal loan years ago and the rates were not worth it then...it was for a replica
__________________
PRIDEnJOY
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08-01-2015, 08:28 AM
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CC Member
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Join Date: Oct 2010
Cobra Make, Engine: Superformance
Posts: 663
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Not Ranked
You guys that live beyond your means...you've obviously met my sister, huh?   |
08-01-2015, 09:49 AM
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CC Member
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Join Date: Jun 1999
Location: Boulder,
CO
Cobra Make, Engine: None. Yet.
Posts: 104
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Not Ranked
If one has a reasonably predicable rate of return (RoR) on their investments, and they can finance a toy for an interest rate less than that RoR, there's no reasons not to finance; it's the financially prudent thing to do.
__________________
Member since 1999 - and I still don't have a Cobra!
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08-01-2015, 10:46 AM
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Senile Club Cobra Member
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Join Date: Feb 2001
Location: Buffalo, NY USA,
NY
Cobra Make, Engine: Time Machines Motorsports LLC- Superformance Dealer
Posts: 4,489
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Not Ranked
We have used and have customers that have used, Astra Lease https://astralease.com/ (ignore warning about the website, it is safe)
Mike Brannigan at Astra understands kits/rollers, etc. and you will not get the "deer in the headlights" look a conventional banker will give you when you ask for money for a car without a 17 digit WMI VIN and tell them it is a "roller" |
08-01-2015, 11:12 AM
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CC Member
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Join Date: Jan 2009
Location: Las Vegas,
NV
Cobra Make, Engine: Shelby CSX4005LA, Roush 427IR
Posts: 5,462
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Not Ranked
Quote:
Originally Posted by Evoking
Ok boys I forgot whenever folks bring up financing there's the requisite fiscal responsibility lecture. No worries here. Can more than afford to pay cash. But rates are low and my investments outpace the interest rate on my 997TT for example. So I put $30k down and financed rest.
So too with this coupe I may get.
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We just bought a new daily driver. We have no, I mean zero, debt. We own everything. Our credit union approved us for a 1.7% 7 year loan in about 10 minutes. We chose to pay cash anyway.
But you are right, well qualified individuals get really good auto rates. You can certainly get a better return as an investment, but the auto loan isn't tax deductible whereas a second mortgage is, which improves the margin even more.
__________________
Cheers,
Tony
CSX4005LA
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08-01-2015, 12:58 PM
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CC Member
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Join Date: Dec 2010
Location: Tempe,AZ-High Point,NC,
AZ
Cobra Make, Engine: Kirkham #684, 482FE, Mike Mccluskey build
Posts: 2,520
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Not Ranked
I try to buy with someone else money whenever I can, especially in an investment type deal...or if the rate cant be beat, 1 percent aint **** in this day and age...
__________________
PRIDEnJOY
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08-01-2015, 01:12 PM
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CC Member/Contributor
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Join Date: Feb 2000
Location: Greenville,
SC
Cobra Make, Engine: 70 Shelby convertible, ERA-FIA, 66 mustang convertible, mystery Ford powered 2dr convertible
Posts: 12,627
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Not Ranked
Quote:
Originally Posted by twobjshelbys
We just bought a new daily driver. We have no, I mean zero, debt. We own everything.
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Been this way since 2007, it's the only way to live.
Bill S.
__________________
Instead of being part of the problem, be part of a successful solution.
First time Cobra buyers-READ THIS
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08-01-2015, 04:38 PM
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CC Member
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Join Date: Aug 2007
Location: Carlsbad,
Ca
Cobra Make, Engine: SPF 2932 with 438 Lykins Motorsports engine. Previous owner of FFR 5452.
Posts: 2,613
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Not Ranked
Two schools of thought and both have merit.
Pay off all debt and sleep well (unless you have a catastrophe and need a bundle of cash)!
Maintain manageable, smart debt. invest the difference and eat well.
__________________
Jim
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08-01-2015, 04:42 PM
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Backdraft Racing Dealer
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Join Date: Dec 2004
Location: North Haven,
CT
Cobra Make, Engine: Backdraft Racing
Posts: 5,115
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Not Ranked
One of our customers just went this route:
https://www.lightstream.com/ |
08-01-2015, 09:17 PM
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CC Member
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Join Date: Dec 2010
Location: Tempe,AZ-High Point,NC,
AZ
Cobra Make, Engine: Kirkham #684, 482FE, Mike Mccluskey build
Posts: 2,520
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Not Ranked
My motto is spend, borrow, waste, give, make, MONEY, then die, cant take it with you...
__________________
PRIDEnJOY
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08-10-2015, 06:41 AM
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CC Member
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Join Date: Nov 2014
Location: PORT LAVACA,
TX
Cobra Make, Engine: BD 1445 Coyote TKO 600 3.91
Posts: 109
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Not Ranked
Light Stream
Quote:
Originally Posted by Cashburn
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NO car or VIN number needed. Just click AGREED that you are using for a Car purchase.
Rates vary. but 2.39% for 5 years.
Found one lower after I bought. They too will do the Loan on a COBRA
they are at 1.49% for 4years... up to 100K
https://www.penfed.org/New-Auto-Loan/?WT.ac=1853
Good Luck! |
08-11-2015, 12:26 PM
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CC Member
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Join Date: Dec 2010
Location: Allen,
TX
Cobra Make, Engine: Werk77 289FIA
Posts: 1,295
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Not Ranked
Quote:
Originally Posted by fordracing65
My motto is spend, borrow, waste, give, make, MONEY, then die, cant take it with you...
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...some of us have kids and grand kids - they care about!
__________________
Scratch build 289 FIA see the Scratch builder forum on CC - sold
DRB GT40 MK1 red #49- sold
FF5 Mk4 #7733 302/T5/IRS - dark blue - sold
FF5 MK4 #7812 427/TKO/IRS - Guardsman Blue - sold
FF5 MK4 #8414 501/TKO600/48IDA Ollie the Dragon #91 - sold
FF5 Daytona Coupe 347/TKO/IRS Homage CSX2299 Viking Blue - sold
SPF 2063
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