Ironically enough, I was Aventador shopping this weekend, and right on the front of the car was an advertisement for Woodside Credit:6.75% APR WOW! Dial 911 I want to report a Robbery in progress!
I walked around the dealer, and it seems all their cars had a similar placard. My credit union is currently offering me 1.99% APR on whatever I want, but I know several friends that have these crazy high APR/extended term loans on their exotics with Woodside
I had the cash to purchase my Gallardo outright, but I was making more in the market than the apr on the loan I got (2.24%). I made the decision to finance based on the fact that my invested cash was making more ROI than the interest on the loan. But, I still ended up paying it off early simply by force of habit in not wanting outstanding debt. I've since sold the Gallardo for more than I paid for it, and rolled that money into my Aventador slush fund. Right now, I could pay cash for a "cheap" 2012 Aventador, but I wouldn't mind financing for that 1.99% and getting exactly what I wanted/leaving some of the cash invested in the market. My goal is to get my dream car in the next 8 months or so. I'm not in a rush, and simply keeping an eye on the market/looking for the right one.So how close are you to your dream Aventador? I'm also an Engineer...I guess I am ultra conservative because I think financing toys is cray-cray. Bought both my exotics cash money. First time, took 9 years, 6 years the second time....andstill self identify as a dreamer.
I still self identify as a dreamer too