APEX GT3

...maybe with Porsche's new IPO update, they are going to come out with 0% Financing for 60 months on all Porsche Models!
(also change the 992.2 to a NA 4.0L) bahhahahahha

Vader1287

Quoted same rate from PFS yesterday

rouxeny

I think this thread shows that you could do much better from a credit union.

Caliporsche

PFS quoted me 6.2%, just last week (October). Credit union quoted me 3.9%. Went w credit unit. This was for my lease buyout. I had PFS for 3 years during my lease. Literally no difference that I know of from a credit union. Wish I did it the first time. This is my first time using a credit union. I’m pretty happy with 3.9%. I’d recommend shopping at credit unions and other banks. I was quoted 4.9% from chase and bofa. Best of luck!

jack_carls0n

I paid off PFS and refinanced with another institute. Much lower rate from BOFA and credit unions. But not as low as it was in 2021. If rates go down can refinance again down the road.

BobMisakunt

If you live in Georgia, Georgia’s Own is still in the 2% range. No limit.

mdrobc1213

Yes can see that..only makes sense IF you're not flipping the car in a few years (i.e. plan to keep it for a long time...life of the car). At that point then really the "stretched" loan doesn't matter as much and is based on circumstances and personal finances and preferences. There may be something else that the buyer can utilized the saved $$ from the lesser note over the extended time frame on. Also I've seen folks take 72+ mo payments and pay them off in 48 or 60 mos and save the interest just to have that flexibility. Again each person's circumstance is different. As I also recall quite a few exotics are leased/financed way past 72 mos and have all types of balloon financing and such to allow their purchase with as low a monthly as possible. Isn't this almost the same albeit for a 911 vs a Ferrari or Lamborghini?
I'd check with a local credit union of a few...I think Navy Fed CU still is low. My Taycan quote thru them in Jan 2022 was 4.5% I believe and my 992 in Nov 2020 wa like 3.4%. Shop around but am sure the Fed hikes are affecting car rates as well as mortgage ones (almost 7% now from what 3.5% last year this time). Low rates and free cash is pre-COVID19 thing it seems now! High rates are here for the next 12-24 mos my financial and real estate friends say.
Did you purchase from Porsche Hawaii? They are great...got both my cars there. Rates were pretty competitive also...in both cases matched my Credit Union and less the PFS! Nice car also if that is your car in the profile avatar too!

rouxeny

Yes, Porsche Hawaii. I kinda figured you had some Hawaii tie from prior posts. They gave me a quote from BOH, which was just a bit higher than the credit union I ended up with.

Still waiting on the car to get put on the boat to Maui…..

911dude41

PFS will match a rate if you come into the dealer with a pre-approval. BofA gave me 2.75% @$180k and PFS matched it, I took PFS to please the dealer and to establish a future relationship with PFS.

7 months later Ferrari Financial approved me for $405k with no proof of income, or any proof at all. Instant approval. Only asked for $50k down. I believe the PFS loan assisted in that to an underwriter.

911dude41

Early last year. Still seeing rates in the mid to high 4's from BofA.. Relationship banking helps reduce points.

SBAD

So you now have $600K in auto loans?

I doubt having debt increased your chances to get even more debt.

Cokerrat

Serious question: given an assumption that anyone buying a new 911 will have substantial savings and liquid assets, is the main reason to borrow money to pay for the car simply to allow investing the amount of the loan? And if that’s true, why do people find it more attractive to take out the loan secured against the car rather than simply an investment loan secured against other assets? Is it more attractive somehow in the expected way it all plays out, or is it for limiting loss in the “worst case scenario”, ie. default? Other? Thanks in advance.

shrimp money

Because you default on the car, they take the car. Default on the house, they take the house. I realize most of us could live in a 911 and shower at a truck stop, but some of us have kids.

Are you referring to portfolio loans?

AlexCeres

I did, and then no one would finance my 911. Because debt is “bad” and we should pay for things only with “cash”. Except that’s not how the system is rigged anymore. Credit score dropped a lot. It was quite inconvenient. “I can pay cash, see $200k right here!” -> “**** you, go do that we don’t give a ****”. Got my local bank to pitch it to their district manager as an exception, story ends with a beautiful TTS, and a 180K loan. Paid the loan off and now credit score is magical. In the last few years, there’s been no downside to getting loans and paying them off early.

interest rates are changing that calculus a little. Still pretty low by historical standards, and I don’t see 4-5% changing the math too much. But rates will likely be much higher next year. I expect rates to get a lot higher short term. But then the economy will tank, and the Fed will give up, and rates will come back down in a few years. Same as it ever was.

AlexCeres

taxes. Portfolio loans have a lot of upsides. However traditional auto loans avoid margin calls and have fixed interest rates. It’s not especially advantageous to double your collateral for the auto loan (the car AND the stock). You can always sell the car and pay off the loan, maybe with a small gap, but still, it keeps some truly terrible **** from happening to your portfolio if the market crashes. The brokerage will loan you an order of magnitude more money than is healthy for you. It takes a large buffer to avoid the market fluctuations, like the March 2020 mini crash, from setting you back years.

but if you can manage a large enough buffer, the capital gains implications are worth the effort.