The Best Source for Financing?

[Evoking]

I have used Premier Exotic leasing for my other toys. But they wont lease a kit. Who do you guys recommend?

[PSB]

Your savings account.

[twobjshelbys]

Toys are bought with cash. It's OK to leverage, but don't go into debt.

[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.

[40k Later]

Never heard of anyone financing a replica to build. Credit Union perhaps?

[fordracing65]

I will finance you, let's work out a deal on payments...I have a dealers license for cars, I am the BANK...

[Evoking]

LOL. I have heard JJ Best. But I've so heard bad things about them. May just do cash after all.

[fordracing65]

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

[ACademic]

You guys that live beyond your means...you've obviously met my sister, huh?

[DrivinWest]

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.

[Mark IV]

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"

[twobjshelbys]

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.

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.

[fordracing65]

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...

[mrmustang]

Originally Posted by twobjshelbys

We just bought a new daily driver. We have no, I mean zero, debt. We own everything.

Been this way since 2007, it's the only way to live.


Bill S.

[jhv48]

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.

[Cashburn]

One of our customers just went this route:

https://www.lightstream.com/

[fordracing65]

My motto is spend, borrow, waste, give, make, MONEY, then die, cant take it with you...

[BADSN8K]

Originally Posted by Cashburn

One of our customers just went this route:

https://www.lightstream.com/

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!

[G-Pete]

Originally Posted by fordracing65

My motto is spend, borrow, waste, give, make, MONEY, then die, cant take it with you...

...some of us have kids and grand kids - they care about!