Exotic Loan rates - Lamborghini Forum
 
  homeFORUMSGARAGECALENDARADSSTAFFINFO
Go Back   Lamborghini Forum > Discussion Groups > General Lamborghini Related Discussion

General Lamborghini Related Discussion For General Lambo Topics.

Lamborghini-Talk.com is the premier Lamborghini All Forum on the internet. Registered Users do not see the above ads.
Reply
 
LinkBack Thread Tools
  #1 (permalink)  
Old 03-14-2020, 03:04 PM
Member
 
Join Date: Apr 20 2019
Posts: 90
Gallery: 0
Default Exotic Loan rates

Hello,

Im sure this comes up around here alot but this is the first time im going to try financing for a used vehicle and im looking for some first hand info.
In the past i always just paid outright for my cars because i dont like to have payments. its just my preference, but this time Im going to try something different and finance a portion of the vehicle.

basically what im wondering is what is a GOOD rate at this point in time? Ive called JJ best and woodside and checked on some local credit unions and most of them seem to be around 6 - 6.5%. i could be wrong but this seems high. These rates were told to me without me giving any info about myself.
I have credit score of 815 give or take and Im going to be putting about 65% down on the car.

Can anyone give me some recommendations as to where i should be looking for the best rates ect etc.
My only real requirement is that i want longer terms to keep my payment as low as possible and no pre payment penalties so i can pay it off as I please.
I know the rates get a little higher the longer the terms, but some of these companies advertise 2-3% and then hit you with 6% when you call.


Thanks in Advance,
Anthony

Last edited by AntsLambo; 03-14-2020 at 03:09 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Quick reply to this message
Sponsored Links
Advertisement
 
  #2 (permalink)  
Old 03-14-2020, 07:43 PM
wrex's Avatar
Senior Member
 
Join Date: Mar 19 2018
Location: Salt Lake City, UT, USA
Posts: 450
Gallery: 0
Default

Quote:
Originally Posted by AntsLambo View Post
Hello,

Im sure this comes up around here alot but this is the first time im going to try financing for a used vehicle and im looking for some first hand info.
In the past i always just paid outright for my cars because i dont like to have payments. its just my preference, but this time Im going to try something different and finance a portion of the vehicle.

basically what im wondering is what is a GOOD rate at this point in time? Ive called JJ best and woodside and checked on some local credit unions and most of them seem to be around 6 - 6.5%. i could be wrong but this seems high. These rates were told to me without me giving any info about myself.
I have credit score of 815 give or take and Im going to be putting about 65% down on the car.

Can anyone give me some recommendations as to where i should be looking for the best rates ect etc.
My only real requirement is that i want longer terms to keep my payment as low as possible and no pre payment penalties so i can pay it off as I please.
I know the rates get a little higher the longer the terms, but some of these companies advertise 2-3% and then hit you with 6% when you call.


Thanks in Advance,
Anthony


Can you keep the total loan amount to less than $100k? I still managed 2.49% for 60 months on my car. If you have that much down I imagine youd be close and not need more than $100k. This was over a year ago, but rates are about the same for car loans now.


Sent from my iPhone using Tapatalk
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Quick reply to this message
  #3 (permalink)  
Old 03-14-2020, 09:37 PM
octechnologist's Avatar
Senior Member
 
Join Date: Nov 07 2018
Location: Orange County, CA
Posts: 146
Gallery: 0
Default

Im would imagine nobody could give you an accurate rate without running your credit. Did they do that?
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Quick reply to this message
 
  #4 (permalink)  
Old 03-16-2020, 03:35 PM
Member
 
Join Date: Apr 20 2019
Posts: 90
Gallery: 0
Default

Im going to keep the loan well under 100k im thinkin in the 60-70k range is what im gonna borrow (all depends on the car i end up buying)


Noone ran my credit or anything like that. I called just to inquire and get some info to get the ball rolling. id imagine the rates could be a little lower for someone with good credit and good financial history, but could they really be 3-4 pts lower??

Anthony
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Quick reply to this message
  #5 (permalink)  
Old 03-16-2020, 04:54 PM
octechnologist's Avatar
Senior Member
 
Join Date: Nov 07 2018
Location: Orange County, CA
Posts: 146
Gallery: 0
Default Exotic Loan rates

Per another recent thread here, you might find yourself rejected based on other aspects of your credit history (or lack thereof), age of the vehicle, etc.

Credit score might not even be your biggest problem.

Worth getting your real number based on the various intangibles.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Quick reply to this message
  #6 (permalink)  
Old 03-16-2020, 05:22 PM
DiabloClyde's Avatar
Senior Member
 
Join Date: Oct 18 2017
Location: Seattle Area
Posts: 503
Gallery: 0
Default

Now is probably a good time to negotiate a deal with both the car and the financing. Showrooms are ghost towns all over the place and will be for at least a few weeks.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Quick reply to this message
  #7 (permalink)  
Old 03-17-2020, 04:55 PM
Senior Member
 
Join Date: Jun 03 2014
Location: Littleton, CO
Posts: 307
Gallery: 0
Default

I was quoted 4.5% for 84 months through a credit union. Credit score of 800
__________________
19 McLaren 600LT
19 Ford GT350R
18 Jeep JLU Rubicon
13 Ducati 848 Corse SE
66 Toyota FJ40 Land Cruiser
PAST
15 Lamborghini Huracan
19 BMW M2 Comp
13 Lamborghini LP550-2
06 Lamborghini Gallardo Gated
15 GLA45 AMG
15 Nissan GT-R
06 Porsche C2S
15 Camaro Z28
06 Lotus Elise
11 Porsche Panamera
11 Ford Raptor
12 Mercedes Benz C63 AMG
06 Noble M400
08 Ford Shelby GT 500
03 Corvette ZO6
79 Porsche 911 SC
Factory 5 MKII
98 Dodge Viper RT10
77 Datsun 280Z My 1st car
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Quick reply to this message
  #8 (permalink)  
Old 03-17-2020, 05:10 PM
Kratos's Avatar
Silver Supporter
Silver Site Supporter
 
Join Date: Dec 10 2012
Location: McComb, MS
Posts: 1,848
Gallery: 3
Default

Quote:
Originally Posted by 45rake View Post
I was quoted 4.5% for 84 months through a credit union. Credit score of 800
What loan amount?
__________________
Aventador Roadster Novitec-SV....build in progress
Vorsteiner ESS Supercharged Huracan Spyder
UGR Twin Turbo Lamborghini Performante
ESS Supercharged Lamborghini Performante
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Quick reply to this message
  #9 (permalink)  
Old 03-17-2020, 05:55 PM
Senior Member
 
Join Date: Jun 03 2014
Location: Littleton, CO
Posts: 307
Gallery: 0
Default

Quote:
Originally Posted by Kratos View Post
What loan amount?
190K for 84months @ 4.5%
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Quick reply to this message
  #10 (permalink)  
Old 03-17-2020, 06:40 PM
Senior Member
 
Join Date: Jun 03 2014
Posts: 299
Gallery: 0
Default

I've got 3.4% on a 5 year loan with PenFed for my G.
Got a second loan for my P-car with PenFed for 3.99% for 3 years.

Not sure why my second loan that was for less money and for less time and on a less expensive car had a higher rate, but it's minimal.

I love PenFed...look into them.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Quick reply to this message
Sponsored Links
Advertisement
 
Reply

  Lamborghini Forum > Discussion Groups > General Lamborghini Related Discussion

Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Lamborghini Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:
Security Question
**Required, this field is not shown to others. Enter ONLY vowel letters in the word: Lamborghini
Full Name
Your Full REAL Name
Insurance
Please select your insurance company (Optional)

Log-in



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -6.
The time now is 08:47 AM.



Powered by vBulletin® Copyright ©2000 - 2020, vBulletin Solutions, Inc.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.
© AutoGuide
 

Content Relevant URLs by vBSEO 3.3.2