Approved for financing on my 992 custom build, then denied when car arrived...
03-08-2020, 12:36 PM
#151
Sure! So initially I was denied by PFS and my SA kept trying other banks to try and finance through, two days ago he gives me a call and said he was able to get an approval through US Bank, but that I needed to put more down. I was a bit nervous because I thought that the APR would be extremely high due to my lack of credit history- it turns out it was 2.59 for 72 months which is really great actually, much lower than PFS' APR. The down payment changed from an initial 20k to 32k. That's pretty much it!
This is why I don't really agree with posts that you should pay off the car in cash up front -- the money is practically free at these low rates and there is an opportunity cost to be considered as well.
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AlexCeres (03-08-2020)
03-08-2020, 01:01 PM
#152
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Note to self:
1) short US Bank tomorrow
1) short US Bank tomorrow
The following 9 users liked this post by LexVan:
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03-08-2020, 01:12 PM
#153
Sure! So initially I was denied by PFS and my SA kept trying other banks to try and finance through, two days ago he gives me a call and said he was able to get an approval through US Bank, but that I needed to put more down. I was a bit nervous because I thought that the APR would be extremely high due to my lack of credit history- it turns out it was 2.59 for 72 months which is really great actually, much lower than PFS' APR. The down payment changed from an initial 20k to 32k. That's pretty much it!
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Freddie Two Bs (03-08-2020)
03-08-2020, 01:20 PM
#154
same. not even my credit union has lower rates. us bank's published rates are a point higher.
03-08-2020, 03:47 PM
#155
Rennlist Member
The Fed cut rates couple of days ago.
03-08-2020, 04:08 PM
#156
Rennlist Member
Thread Starter
I was shocked too, I'm not sure why it was the case with my loan but in total I am financing 120k. My SA explained to me that they're a high volume dealer and they have a relationship with a lot of banks- still scratching my head at 2.59 but no complaints.
03-08-2020, 04:38 PM
#158
Rennlist Member
Thread Starter
03-08-2020, 05:06 PM
#159
looks great -- curious -- why are the door handles out?
03-08-2020, 05:12 PM
#160
Rennlist Member
Thread Starter
Thank you! It's because I didn't get comfort access, I have to unlock and lock the car using my key fob. I noticed a lot of people had problems with the comfort access feature so I figured I'd just skip it and not have to deal with the headache. I had comfort access on my M4 but I always use my key fob to open the car anyway; didn't think it'd be something I'd be kicking myself over later on.
03-08-2020, 05:14 PM
#161
not an idiot bro enjoy your car, when you ask for advice it may not be what you want to hear ....but the end it’s your choice. My boss once told me feed back is the breakfast of champions, but you have to choose what you want to eat. Looks good have fun.
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crimewave (03-08-2020)
03-08-2020, 08:02 PM
#163
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Originally Posted by saabin
Do 992s come with a rear view camera as standard?
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crimewave (03-08-2020)
03-08-2020, 08:02 PM
#164
Burning Brakes
I just looked at the rates and Bank of America is at 2.69% for new purchases.....
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crimewave (03-08-2020)
03-09-2020, 12:25 AM
#165
Race Car
BofA is 2.69% for Ohio as well.
Beats my CU by over 1%.
Beats my CU by over 1%.