ChicagoM4

It seems Credit Unions usually have the best rates in today's world. However, many CUs that I researched only offer loans up to $100k. Has anyone had a good experience or know of a CU that finances $100k+ with good terms?

I currently have a loan with Digital Credit Union (DCU) @ 1.74% for 65 months, but it was a small loan. I don't believe they go much beyond $50k.

timwu12

woodside credit union does up to $600k and 144 months but the interest rate won't be all that great

Wild Weasel

If you go with a 3rd party leasing company and determine the residual will be higher than the cost of the car, will they pay you to lease it?

alpine-al

I did a $150K loan with DCU @ 1.49% for 65 months in January 2015.


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dave w

I've never understood the "better to lease to save the sales tax in CA" argument. When you factor in cap reduction cost and increased interest on lease vs lower loan rates, it comes out almost exactly the same. I've done the math many many times. Either way you pay.....

mooty

^ yes, porsches you pay now or pay late, pay pay pay keep paying paying.

Alan Smithee

^ True that Porsche jacks up the rate, making it more or less a wash, but there is still the benefit of protected downside in the event of a recession, lemon, accident, etc.

Makes more sense with other brands. Just leased a new Range Rover; with nothing up front and a MF equivalent of under 3% for 3 years, it was a no-brainer to lease and avoid over $5k in CA sales tax over the term.

WernerE

And don't overlook the rule that commuting to and from work counts as personal use, not business use. It's driving from work to other work-related location that's business.

WernerE

?? Money factors are often comparable to interest rate equivalents, though I'm less familiar w/what Porsche is offering at the moment. Regardless, if you trade your car in every 3 years in California, you've saved a ton on sales tax by leasing vs. paying 100% on sales price (vs. sales tax on monthly lease payments). No sales tax credit in California. Paying cap cost reduction is optional and is not recommended -- you're accelerating sales tax.

WernerE

Sounds like a lot...

speedie

Hello to all! My opinion is to lease one. After a small research I found here that they have amazing deals! https://dsrleasing.com

dave w

I get the theory. My point is that the math doesn't really work out on 911's. Current MF is around .0024 (5.75%), and PFS typically requires $5000 cap reduction to get those terms. Loan rates are around 1.75% right now. So you walk out paying the same either way. Without the cap reduction you are paying more interest as well. With a 100k loan you pay 9k in taxes and about 2.5K in interest in 36 months. With a lease you pay about 3k in taxes, 4k in interest and 5k in cap reduction. 12k either way. Add in equal amounts of depreciation and at the end of 3 years you are in the exact same place either way.

06C2s

Im going to get flamed on but have always lived by you always pay for toys and a GT car is a toy.

MJones

Easy!
Write check - Buy car

RealityGT

^+1
^Exactly! ( less painful this way )