MDA0303

I'm about to pull the trigger on a 993. Are there any banks out there that are financing 95-98 model year 50k mile cars with extended terms? Looking to go 60-72 months if possible. There aren't really any book values to reference aside from kbb, eliminating certain banks.

Also need a bank to realize these cars are bringing more $ than they were new and values aren't dropping anytime soon.

Can anyone recommend a bank or credit union that has helped you out?

adcampo

Pen Fed seems to be the bank of choice. I’ve used them a bunch of times and they’re great. However, they’ll only go to 60 months. And depending on how much you need to borrow they may require a PPI and appraisal.

Woodside Credit will go all the way to 120 months with simple interest @5.9% with 10% down.

Mark in Baltimore

+1 on PenFed. I was going to use them to finance the new Macan, but I ended up getting a better deal through the dealer/BOA.

Suntrust also has some product called Lightstream, and briefly looked into them, but I read the reviews on them and decided that, as a business person, they seemed like too much work even though my credit is in the high 700s/low 800s with a decent income and a perfect payment history with many cars and homes.

GBX

Penfed. Second air-cooled I’ve financed with them and it’s been great. Great rates and easy to deal with.

Brig993

If your a member USAA is great as well.

s14kev

People finance these things? Crazy...

Quadcammer

Lightstream. If you have good credit its an unsecured loan so they dont even ask about the car. i wouldnt finance such a car but i guess thats a personal choice

spruden

Big fan of Lightstream. I’ve used them a couple of times over the past few years. Super easy.

windydog

I didn't know you could finance these cars?
please share rates and terms with us.

Todynot

JJ Best specializes in classic car financing.

gavonder

Lightstream- super easy, great rate & unsecured.

Gbos1

There will always be "specialty" lenders. Typically higher interest rates, require good FICO 740+, Agreed Value Insurance required, and some down payment. Pen Fed is your best bet but shop around. Somebody is always willing to take your money. Good luck!

phoneyman

Since people above asked about financing in general, here is my information. I used a credit union accessible through my work so not available to everybody, but the terms might help those shopping around.

60 month, 2.99%, the down was the difference between sale price and what NADA listed the car. NADA had it around ~23k in 2013, sale price was 28k, so down was around $5k. Must carry decent insurance with proof, etc. I financed to build credit since I didnt have student loans or mortgage to bolster the credit score. Its helped over the years.

Jupiterfish

i did penfed. they wanted an appraisal to have on record since the bluebook was way off.
great rate, and minimal hassle. they offered to extend the loan 1/2 way thru since the value was so high lowering the monthly. i said no thanks and paid it off early.

jibmaster1

Lightstream this week...$45K 4.01% 72 months. I went longer terms because I will be selling my Cab this Spring to pay for the new purchase. So really a short term loan. I do have to admit it was almost too easy to borrow the money. The car isn't secured with this loan. No hastles. I am impressed with these guys. Years of good credit and being responsible with my $$ I guess pays off when you enjoy Porsches as a hobby! Good luck.