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928 Posts
Always deals to be found if you can tolerate a crappy spec or epic stories.
Huracan pricing bubble
I don’t know about anyone else, but these prices are getting out of control. Evos with 5k+ mileage asking for 350k plus?? Performantes in the high 300 low 400 range? 610s approaching 300? At some point this has to relax a little. I’m just some old guy venting that when he finally has enough to purchase the cars that the asking price keeps getting higher and higher.
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6 months ago, this STO would’ve been priced at a minimum of $100K more -
Autotrader - page unavailable
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Aventador Roadster Extreme Edition, Huracan Performante, Gallardo Performante
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2,409 Posts
Is there a flipper rule now in place for the 2023 and 2024 models (I read someone mentioning it)? How "restrictive" is it as far as timing?
People argue that the new models being sold out will keep the market high......but what if those same sold-out cars are dumped into the used market a month after delivery?
People argue that the new models being sold out will keep the market high......but what if those same sold-out cars are dumped into the used market a month after delivery?
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612 Posts
Woodside Credit is now quoting 7.99% interest rates. That’s based on me with 800+ credit score and putting 50% down. Imagine if people have bad credit and no history of luxury vehicle loans or less money down. Pressure continues to build on the ability to purchase these cars.
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4,453 Posts
Woodside is an awful lender and you only use them if you have to. No one with perfect credit and solid income would ever use them unless they want 144 month loan.
Rates are still around 4% at many credit unions, lending is happening without much issue.
Cant base the market off one bank, just like you can’t base the trajectory of a market based on one vehicle sale price.
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612 Posts
DCU usually has great rates but are now 5.5-7.5%.
Murphys Bank (Amazon goes through them for the Amazon Leasing program) is 6.85-7.25%
Suggestion of a CU that doesn’t require a military background?
Murphys Bank (Amazon goes through them for the Amazon Leasing program) is 6.85-7.25%
Suggestion of a CU that doesn’t require a military background?
Aventador Roadster Extreme Edition, Huracan Performante, Gallardo Performante
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2,409 Posts
Never understood why anyone would use them. If I have 20-40% down, why would I need a 144 months? Such a contradictory in every way.
The reason is cash flow. 144 months frees it up way more than does 60, 72, 84, etc. Not saying that any of us would ever do that but again, that's the reason.
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612 Posts
Also you can look at almost every carfax history of these cars and see that most people only own them for 1-2 years tops at a time. Why make huge payments for the first 1-2 years when you can make small ones and sell it. Depreciation hasn’t been too bad, historically, so you’re prob not that far upside down after 1-2 years. Free up cash flow for other things instead of rushing to pay off a car you may only keep for a year. If you want to pay it off sooner, make extra payments.
Thanks @Jr Mint for the recommendations. Consumers might work! Alliant requires 2016 or newer which doesn’t work for the 2015 H I’m looking at. Going to test Consumers and if not, go cash or buy another G.
Thanks @Jr Mint for the recommendations. Consumers might work! Alliant requires 2016 or newer which doesn’t work for the 2015 H I’m looking at. Going to test Consumers and if not, go cash or buy another G.
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4,453 Posts
Alliant does older than 2015. Call them, I am 99% sure.
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612 Posts
Oops, I mixed them up. It’s consumers that is 2016 or newer.
Alliant is over an 8% interest rate for the older cars
. However, I think 2015 doesn’t fall into that category and should be around 5.20% for used vehicles. I’ll call them now.
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4,453 Posts
Consumers also does older than 2016. I believe they are around 7% for that.Oops, I mixed them up. It’s consumers that is 2016 or newer.
Alliant is over an 8% interest rate for the older cars
Do they stop at $100k or higher? Just curious. Couldn’t get from their site.
Aventador Roadster Extreme Edition, Huracan Performante, Gallardo Performante
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2,409 Posts
Everytime I bought a Lamb, I would always get an approval of up to near 84 months with $0 down. And then there was always an offer from Woodside that was 2 percentage points higher, that beloved 144 term, and they'd want $60K-$100K down first. In my mind I could take my $80K and do other things with it, so I always chose the "keep my money" option.
Now I can see if you're in a scenario where every bank on your approval list is asking 20-40%, then Woodside would then make some sense. Thus, in typing this response I see my mistake in my previous post......I subconsciously assumed that most people here can get zero down approvals as well (at least before Covid), and that skewed my view.
Online application allows up to $100K, but I do believe there is no limit in person. Depends on your financial situation
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612 Posts
Going cash if it all comes together. Will refi later after I review options, assuming I want the loan. This thread has been super helpful in leaning me in a direction on when to upgrade. Let’s continue monitoring 🤩
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332 Posts
Loan shopping right now as I am taking 765 delivery next week. 820ish credit score, BOA and Chase both in the 5s/6s right now so yea they're both still financing $100k+ cars. More down keeps it in the 5s for some of their longer terms. YMMV but this is recent, real data so thought I'd share.
Aventador Roadster Extreme Edition, Huracan Performante, Gallardo Performante
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2,409 Posts
I'm usually in the 300ish range. Haven't financed a new car since Covid started. Good to know these numbers as we go.
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