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PenFed Payment Saver/Purchase question

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Old 03-26-2017, 08:13 PM
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NNN Investment
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I already did use them in my last 911. There awesome.
Old 03-26-2017, 08:36 PM
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PJ Cayenne
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Originally Posted by paxton
Considering Penfed myself for my June delivery on a similarly price 991.2 carrera. Would be interested in hearing about your experience if you decide to move forward with them.
I used them before 6-7 years ago. Easy to deal with. Not sure how long it will take them to get the money to the dealership. Financing through the dealer takes about 15 minutes if your credit is good.

I tried to finance my current car with USAA 2.5 years ago. I would have taken nearly a week to get the check to the dealer, then I'd need to wait for the check to clear prior to taking delivery. The dealer matched the USAA rate with a major bank and delivered the car the next day.

No way the dealer has a product like this. Just destroys what is a mediocre lease deal he is offering.
Old 03-26-2017, 08:56 PM
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MJG911
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Originally Posted by NNN Investment
I only can speak for Florida.
Georgia too
Old 03-26-2017, 09:31 PM
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The biggest issue for me and probably most is having to cut a check palm beach county for 7% if purchased. Lease would cost $90 bucks a month. Huge difference.
Old 03-27-2017, 08:53 PM
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MJG911
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Originally Posted by NNN Investment
The biggest issue for me and probably most is having to cut a check palm beach county for 7% if purchased. Lease would cost $90 bucks a month. Huge difference.
In Georgia, we now have a title tax. Have to pay the whole 7.5% up front whether you lease or buy. And if you buy out the lease, you have to pay it all over again!
Old 03-27-2017, 08:54 PM
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Title tax? That's crazy. So a penfed loan is smarter for you or straight finance.
Old 03-27-2017, 09:21 PM
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yep. In my case, I was stupid and trusted the local dealer. Ordered a CD to replace the end of lease Cayenne Diesel, and also bought a 991 on the same day. Was tired and thought because we had a relationship that I could trust them. found out after the fact they gave me a money factor of .0035. (got 1.9% on my 991) So, even though its a business lease, after 4 months of Porsche Financial not cashing my payment checks and trying to give me late charges, having 3 extra checks outstanding in the PFS stratosphere, I wound up buying the lease out after 6 months. Had to pay tax all over again, and lost my writeoff. Still love the diesel though, and now Porsche has made the warranty 6/100 and is going to be paying me about 16500 in damages and Bosch 1500 for the dieselgate settlement. Had I kept leasing the settlement would have only been 2000,



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