Unreal bank loan.
#17
#18
You really think you'll own the car for 7 years? I doubt it.
At what point is the car ever worth more than the loan? If ever.
Is the CPO as long as the loan?
Good job putting $50 down. That helps.
At what point is the car ever worth more than the loan? If ever.
Is the CPO as long as the loan?
Good job putting $50 down. That helps.
#21
#22
Here you go, there's one my local Craigslist for sale right now - I kid you not. Just north of Baltimore.
http://washingtondc.craigslist.org/d...398648118.html
http://washingtondc.craigslist.org/d...398648118.html
#23
When I financed part of my M5 I used PenFed Credit Union and they were great, applied online and got 1.49%. Had I not paid in full for the GTS I no doubt would have went to them, definitely worth a look. You only need to donate like $15 to become a member.
My condo which I sold was also financed through them at an awesome rate.
My condo which I sold was also financed through them at an awesome rate.
#24
When I financed part of my M5 I used PenFed Credit Union and they were great, applied online and got 1.49%. Had I not paid in full for the GTS I no doubt would have went to them, definitely worth a look.
My condo which I sold was also financed through them at an awesome rate.
My condo which I sold was also financed through them at an awesome rate.
#25
$50k down- owe- $100k. The floor on 911 Turbo's IMO is fairly high vs a Cayenne or a Panamera. People have laid awake dreaming about this car or had a Turbo on their wall as a poster.
If you told me a Cayenne Turbo I'd agree more that the loan could be upside down quickly w/o such a down payment as most of those cars are worth $10-15k.
Sold my 07 997TT in Oct '15 for $68k. no 07 cayenne Turbo but a 06 is about $20k or less. 08 a bit more.
#27
I have been using PenFed for the last ten years, I have financed my BMW M cars with 72 month loans with almost free money building equity along the way. Just did a payment saver puting down $48000 on my 2015 GTS with a $53000 ballon at the end of 5 years. My payment is $688 a month.
+1 on Pentagon Federal Credit Union.
+1 on Pentagon Federal Credit Union.
#28
A small table showing some relevant financial data. OP not only got a good deal from a financial standpoint (given the loan is $100K) but also from a presumed depreciation standpoint* (I calculated the principle owned after 3 years).