Pretty sure i finally found the 964 I'm going to buy! Will give more details on that later

If i wanted to finance the purchase, I know that typical banks won't finance cars over 10 years old. Can you guys recommend any options for financing?

I've come across places like JJ Best, Haggerty, Woodside. Any feedback on these or others would be appreciated.

Thanks!

 

Are you sure that financing a 964 is a good idea? If it were me and I didn't have the cash, I would wait until my savings were sufficient to buy with cash.

 

I'm financing mine through LightStream, no issues, very easy transaction and great rate also. Even setting it up on auto-pay saves .5%

 

Many Credit Union's will do loans on older cars. I doubt NADA and KBB have caught up to Market Value though so, that may make it a bit difficult. I got mine done at 3.9% for 48 mos. a couple of years ago.

As for being a good idea, IMO financing an old car that's going up in value makes more sense than financing a new one that drops the second you drive it off the lot.

 

If you have a line of credit, you can segment it into (sub category) loans. You should be able to get rates close to your home interest rate.

Jeff

 

check out penfed.org

 

Line of credit is what I used.

 

I have also heard good things about Penn Fed. While it is OK to finance the purchase, just be sure that you have sufficient money set aside for the inevitable repairs and maintenance costs. As I'm sure you know, these were expensive cars when new ($60k in 1991 dollars is over $105k now) and repair and maintenance costs are commensurate with original cost, not present purchase price. Budget at least $5k for the first year, as you catch up on all the deferred maintenance and other issues that the previous owner didn't take of, not including the cost of mods. Best of luck!

 

Used JJ Best with no issues. They were pretty responsive and easy to deal with.

 

Penfed is good. They usually offer less than 2% APR and over 48mo financing. It's cheap money. I think the only thing they care about is mileage less than 100k, not the age of the car.

Had I known 964 prices were gonna appreciate like they have in the past 3-4 yrs, I would have financed as many of them as possible, sat on them for a couple years, and would be selling right now for some fat profits.

 

Pretty much every 964 I saw for sale needed a new engine....so be wise that it will double your cost of purchase so you have to budget for that. I figured that the only reason someone would sell a 964 was because they anticipated an engine rebuild and didn't have the want or resources. It's pretty easy to drop the engine and change one head stud and call it a top end. Anyone who did a proper rebuilt would not sell unless they had to and those would be like winning the Porsche lottery.

 

Financed my 964 this April 2014 100%..... 1.99% for 6 years from my credit union...... They only did Nada guides as a basis for amount lent, but would accept higher amount if appraised......

My bank was bomb and I bought my prior used GT3RS on loan last June 2013 100%...... 0.99% for 7 years.

Firefighters First Credit Union

 

Man that is cheap financing , at that rate that's the amway to go