Bank to finance NSX ??
- Thread starter nsx4play
- Start date
capital one, or if you have excellent credit get an unsecured loan, no hassles and they transfer whatever amount you request into your checking account
Navy Federal credit Union is now open to the public. They have a website and they will just give you a used car loan and then you go buy whatever type of car you want.
Their web site is navyfcu.org
Their web site is navyfcu.org
Check out firstagain.com Unsecured etc....but you must have excellent and substantial credit.
I used this credit union they will give you 100% car value not loan value if you want.
http://www.postalcu.org/ASP/home.asp
http://www.postalcu.org/ASP/home.asp
Go with Addison Avenue. Its a federal credit union that will fund a 91+ NSX. You need to speak to Viet Le. Shes is the only one capable there that can help you. Call her at 360.449.6457 or email her at [email protected] Tell her Brian from Socal sent you. She will take good care of you. A lot of emails/fax/calls back and forth but well worth the time! Do a search for addison avenue on prime and you will see a few people have used her! Good luck!
ExxonMobil federal CU.:wink:
I just used local banks when checking out financing on my NSX about 3 years ago. The second back I called said 5.5% (for my '95) and that was good enough for me. There might be cheaper rates, but I'd just recommend you call the locals and see what they say.
Also, if you have plenty of cash in hand, you might consider putting a large downpayment on the car. That way, if you elect to insure your NSX with a substantial deductable (over $1,000) the bank will likely let you do this due to a very secure asset. Interest rates are one thing, but being able to shed $100's off your annual insurance is another thing to consider as well.
Good luck in your search!
Also, if you have plenty of cash in hand, you might consider putting a large downpayment on the car. That way, if you elect to insure your NSX with a substantial deductable (over $1,000) the bank will likely let you do this due to a very secure asset. Interest rates are one thing, but being able to shed $100's off your annual insurance is another thing to consider as well.
Good luck in your search!
I'm just curious on why you want to finance if u can pay cash? seems like a no brainer unless you like paying more for the same thing....
Danny_Ocean
Suspended
Why not use someone else's money? Money is cheap right now (assuming you get a loan for 6% ~ 7%). That free's up your money for other investments/emergencies. Always use someone else's money whenever possible.
I do alot of my banking with Addison Avenue. This poster is correct Viet Le is very informative and knowledgeable. There is only one branch in Georgia and I still do a lot of business with them, that branch is 45 miles from my home and 35 miles from my office. If you are not local look up Addison Avenue and get their 800 number and enter Viet's extention 6457. Let her know Brian from Atlanta said to take care of you.
Have a Happy New Year "Prime"
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- 17 December 2007
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Yup, if youre making 8% on your money why tap that? you are better off letting that money keep making money and financing assuming the rate isnt retarded. (ie not more than you are making) if the best rate you can get is 10%.. yeah, pay cash.
i dont see 5.5% begin offered today... I was offered 6.9% from US Bank for an older car, I want to say new cars were around 6%ish... I called 5 places, US Bank was the first that said they would for a 91-93.
Danny_Ocean
Suspended
Yes, typically cars older than 4 ~ 5 yrs. pay a higher rate on loans.
If you have buckets of money laying around, sure...paying cash is the way to go. However, for the average investor, forking over $30k, $40k, $50k is going to deplete most "emergency" or retirement funds. At low rates, borrowing money isn't a bad thing (assuming all your other ducks are in a row...own a home, no outstanding CC debt, good health, bills paid, etc.).
I got my 93 nsx loan from addison avenue federal credit union at 4.x% @ 5 years, 5.x% @ 6 years and 6% @ 7 years. However, you gotta go through the RIGHT person there.
Just need atleast decent credit.
Just need atleast decent credit.
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- 17 December 2007
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- 14
noted! :biggrin:
I think you mean spades :biggrin:
If you like living on credit you can go ahead and finance but where I'm from we take pride in owning things free and clear. Houses yes I would finance as a matter of fact I have a mortgage on my house at a good rate but in NO way I would have finance a car that sit in the garage most of the time. If you was asking my opinion I would invest the money take the profit and pay cash because at the end of the day your just making payment on a car that will take years to pay off and u will pay more then the car is worth.. don't take my word this is just MY opinion....
good luck
Danny_Ocean
Suspended
I paid X amount for my '74 Pantera. Financed with a few thousand down. Made the payments for about 10 months and sold the car for $5500.00 more. Paid off the loan, put the $5500 in my pocket (actually put it down on the NSX) and that was that. So, instead of risking "X" amount, I only used/risked about $6k (of someone elses money) to make $5500. If that's considered "living on credit", then I think I'm living pretty well.
I finance my three work trucks. Write them off 100% on my taxes. So, in fact, I'm using the banks money to earn a tax break (and my cash is stashed safely in the bank, where I use it to purchase supplies & tools for my business).
Where I come from, we take pride in using our intelligence to make money while using someone else's and keeping ours safe/warm in our pocket. Credit isn't always a bad thing, unless you're financing vacations or clothing, etc.
I finance my three work trucks. Write them off 100% on my taxes. So, in fact, I'm using the banks money to earn a tax break (and my cash is stashed safely in the bank, where I use it to purchase supplies & tools for my business).
Where I come from, we take pride in using our intelligence to make money while using someone else's and keeping ours safe/warm in our pocket. Credit isn't always a bad thing, unless you're financing vacations or clothing, etc.
Not really good advice if you know how to work money. Invest what you would pay for the car, assuming you have the cash, then borrow to buy the car. Make the car payment from the investment return. When all is said and done you have your original pile of cash AND the car too. With your plan all you have is a depreciating asset and no cash, it makes no financial sense.
You put a lot of miles on those trucks? If not you might want to look into leasing. Leasing works very well for us.
Danny_Ocean
Suspended
I do put on a lot of miles, but I run them forever. My Astro and my F350 both have over 200k miles (they are no longer financed, however).
That works out pretty good if you do that many miles then. For me I can't stand fixing broken vehicles and they always seem to break when they are needed the most. Three years for me and they are about done. You should have seen the Titan I just turned in. I can't believe they took it back. It was trashed!
Danny_Ocean
Suspended
I do all my own work (typically...not so sure about this NSX, though).
Nonetheless, there will always be two factions on financing. They'll never convince us that "cash is king" and vice-versa. It's like discussing religion or politics...I shouldn't have even opened my pie-hole, cause I knew what was/is coming.
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