Who REALLY owns their Z???

Guavazo · 08-15-2011, 12:16 AM

borrow 29k with 3.25 for 5 year in march, interestingly I have 800+ credit score with 7 years of credit history(25 years old), could not get any loan from the big bank due to not enough credit history, got a loan from credit union. plan to pay it off in 3 year.

11Thumper · 08-15-2011, 01:08 AM

Financed mine at 3.9%. Put something like $10k down. My S2000 is paid off and have been thinking to sell it for the extra cash. Personally, with this economy (and a mortgage) I would rather have the safety net. I have the $ in the bank to pay off the z now easily but it takes a while to build up a savings. I would probably blow that extra cash each month on alcohol and loose women anyway

PluckyPurcell · 08-15-2011, 06:53 AM

I decided instead of tying up more money in the car I would put half ($18K) down and financed the other half at 0.9% the dealer was offering. Payments are under $300/mo and I can earn more than 1% on the cash I have. Sometimes it doesn't pay to pay cash.

EazyD · 08-15-2011, 01:03 PM

Quote:

Originally Posted by Guavazo

borrow 29k with 3.25 for 5 year in march, interestingly I have 800+ credit score with 7 years of credit history(25 years old), could not get any loan from the big bank due to not enough credit history, got a loan from credit union. plan to pay it off in 3 year.

almost literally same story here.

Vaughanabe13 · 08-15-2011, 01:37 PM

Quote:

Originally Posted by EazyD

almost literally same story here.

That's absolutely ridiculous that you guys can't get a loan with several years history and a great 800+ credit score. Unbelievable.

theDreamer · 08-15-2011, 01:41 PM

Quote:

Originally Posted by Vaughanabe13

That's absolutely ridiculous that you guys can't get a loan with several years history and a great 800+ credit score. Unbelievable.

After the market crash getting a loan was very difficult from big banks. Credit unions were the best bet for a quick low interest loan, but you must be a member and some require you be a member for X months before any loan can be filed.

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08-15-2011, 12:16 AM	#1 (permalink)
Guavazo Base Member Join Date: Oct 2010 Location: ME Posts: 61 Drives: 10 370Z PG+Sport 6MT Rep Power: 16	borrow 29k with 3.25 for 5 year in march, interestingly I have 800+ credit score with 7 years of credit history(25 years old), could not get any loan from the big bank due to not enough credit history, got a loan from credit union. plan to pay it off in 3 year.

08-15-2011, 01:08 AM	#2 (permalink)
11Thumper Track Member Join Date: Mar 2011 Location: Bay Area, CA Posts: 754 Drives: '11 370Z, '01 S2k Rep Power: 19	Financed mine at 3.9%. Put something like $10k down. My S2000 is paid off and have been thinking to sell it for the extra cash. Personally, with this economy (and a mortgage) I would rather have the safety net. I have the $ in the bank to pay off the z now easily but it takes a while to build up a savings. I would probably blow that extra cash each month on alcohol and loose women anyway

08-15-2011, 06:53 AM	#3 (permalink)
PluckyPurcell Premium Member Join Date: Jun 2011 Location: 353018 811254 Posts: 72 Drives: '11 Z Roadster GM M6 Rep Power: 16	I decided instead of tying up more money in the car I would put half ($18K) down and financed the other half at 0.9% the dealer was offering. Payments are under $300/mo and I can earn more than 1% on the cash I have. Sometimes it doesn't pay to pay cash.