Using a 401k as an ATM is bad. While the money gets paid back (most of the time...) the cost in terms of growth that money would have sustained were it not on loan has to be taken into account.

Sincerely,

Macster.

 

Ditto Penfed. My 996 is on a 2.99% with them right now. They are easy to work with and have the lowest rates that I've seen.

USAA is good too, with typically slightly higher rates. Both have excellent customer service.

 

Regions Bank in Birmingham, AL earned my business.

 

The market isn't just now starting to show signs of life. It has been going up steadily for almost a year now. The S&P 500 is up almost 100%.

 

I agree...was just making the point that after the butt kicking I took over the last few years I'm not ready to jump out yet....

 

I got mine through the local credit union and the rate was a little over 3%. Personally, I think you can make more than that on the market with not much effort so it made sense to finance the car.

I have heard this "out of state" issue before and it's a problem for lenders that do not have a presence in that state. Something to do with the fact that the car has to be titled (in their name) in the state that they operate in. The funny thing is that I asked them directly about this and they said no problems but when a buddy of mine tried, they stopped short when the paperwork was just about to be started. Make sure you get a written agreement from your lender otherwise you can go through a lot of hassle and not be able to get the car at the 11th hour.

 

I hear bank of america or capital one do well with auto loans.

 

I'm pretty sure I was the first to turn Rennlist on to Penfed and I can't recommend them enough. If you can qualify for Navy Federal they are sometimes better - I got the loan on my GTS from them at 1.99%.

Don't waste your time with the banks. Generally, Porsche credit won't try to compete with them either.

 

Try www.Xcelfdu.com. They are a Credit Union that offers low interest rates to our NNJR-PCA region. I noticed quite a few car clubs on their list so they may be able to help. Good luck.

 

I used my military credit union Service Credit Union and they've consistently beat everything that BofA, Well Fargo and all the big banks have thrown my way. Easy and great customer service! With my 997.2 I just emailed my contact (branch mgr/loan officer) my thoughts and request and was okay'd the next morning basically if I want to go ahead with the deal all I need was to reply in the afirmative and tell him how I wanted things structured and wait for a secure email on the bank's website for e-loan documents! Same way back in 2008 when I bought my 08 M3 and had them finance it also.

I've heard PenFed and Navy Fed CU are the same way...I'd head their way if you can qualify. It would be well worth it!

 

PenFed had a deal of 1.99 for 60 months. Used that for the GT3 after paying cash for the Cayman S. At that rate, I can make more money in other places!

 

I used USAA in the past - very good.

 

Try your regional AAA office.

If you're disciplined enough to pay it back, borrowing from your 401K is probably the cheapest way.

Margin rates are well into the 7% range unless you're WEB.

Any guaranteed returns that you are currently getting are still low, and probably will remain so until the FED kicks up the interest rates. If you're getting much over 1.5% current short term yield from investments (<5 years), then you are getting paid for a non-guaranteed, non-insured risk component.

Unless you're talking about millions, losing a 1.5% return is not going to hurt.

BD

 

How do you join penfed if you've never served?

 

I have to say that I am a little perplexed by your statement that the market is just "starting to show some signs if life." In 2009 the DJI was at 6,547 and now it is close to 13,000. That is a climb of almost 100%. Now might be a good time to cash out, takes some profits and get the car you want.