Ascend

Whats the limit on how much I can borrow? 100k?

3-Pedals

In the current economy, best place for auto loan is your checking account.

TRAKCAR

I remember the before time..

Paying 0.99% for a 4 year loan :-)

shrimp money

I've never seen a limit on how much a credit union will loan. Obviously they won't loan you $425k on a $450k car.

HelpMeHelpU

Great auto lenders in my experience:

Penfed.org
DCU.org
USAA.com
Lightstream.com
XCELfcu.org

Good luck!

Leo_g

They usually have a cap, most of the places that I contacted had the cap of 125k. For example if you check the penfed that he's shared above, the limit is 150K.

rsabeebe

i have used penfed and lightstream with very good results. i'd suggest lightstream.
rates used to be so low. no idea what they are now.

Leo_g

Based on their website, the cap is 100K and for 8 year, the rate is 10%. Extremely high.

rsabeebe

the days of free money loans is over. i'd hate to calculate the interest paid on a 96 month loan at 10%.

shrimp money

What is it realtors say, date the rate, marry the car.

GT3 Mike

The tide is going out, time to see who's skinny dipping.

irontmp

I have never purchased an old/Classic car before, upon checking with my bank they don't finance anything older the 15 years. I'm looking at a restored 69 coupe in TX. Which finance institution/ bank would you recommend? The classic car shop in TX has one recommended on it's web site but I would like to shop around to ensure I'm getting the best rate for my purchase/loan. Do these financing companies have any weird stipulation because these vehicles are old/classics that I should be aware of? Any Pro's/Con's or experiences you have and want to share would be greatly appreciated.

2024 GT3 RS

Check out Consumers Credit Union. They had the best rate I could find when I bought my new Huracan. I don't know if they have a cap or not because I only did $100,000.. You have to open a checking account with at least $10.00..

irontmp

Me and my other half are looking to buy our first decent car, we’ve been using older cars for a while, and even through they serve there purpose well, this years MOT costs about 40% of both cars value, and generally my feeling is they’ll only get worse or go bang. I never really borrowed a large amount, nor am I happy about doing it especially in this turbulent economy. However, I’ve been researching and it seems the sensible calculation for what you can borrow is the 20/4/10 method. Collectively we take home £5122, after all of our rent and Direct debt bills we are left with £3155. We spend roughly £150-200 a month on fuel. So going of the 20/4/10 calculation the monthly car spend for us is £315 assuming the 10% is after bills? £315-£200 in fuel leave us with £115 a month to spend on the loan. £115/month really doesn’t get you much. Is this 20/4/10 calculation outdated for the current climate? I think I want to hear peoples opinions on; - Is borrowing in this climate wise or should I hold out with the older cars for now? - Do you base the ‘no more than 10% monthly spend’ before or after bills? - We’re looking to buy a house in a year or two and need to improve our credit rating, is it better to finance against the car or bank loan? (I like the option to pay off earlier with the bank loan) many thanks.

3Series

Wait a minute, huh? Suze Orman, is that you? This is a 992 GT3 forum, I’m no financial advisor but if you are trying to budget a toy against your rent, it’s prob not a good idea. Those cliche percentages are crap. Everyone’s financial circumstances are bespoke.