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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
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#1 (permalink) |
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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.
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#2 (permalink) |
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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
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#3 (permalink) |
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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.
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#4 (permalink) |
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A True Z Fanatic
Join Date: Nov 2009
Location: Massachusetts, USA
Posts: 1,211
Drives: 2010 6MT Sport pkg.
Rep Power: 27 ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
almost literally same story here.
__________________
![]() Pearl White 2010 370Z Sport, Stillen CBE, tint, K&N drop-in filters, GT-R start button, Kenwood DNX-6980 with backup cam, LED bulbs, Raceseng shift knob. |
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#5 (permalink) |
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Enthusiast Member
Join Date: Jul 2011
Location: Iowa
Posts: 387
Drives: 09 Nissan 370Z M6
Rep Power: 15 ![]() ![]() |
That's absolutely ridiculous that you guys can't get a loan with several years history and a great 800+ credit score. Unbelievable.
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2009 Nissan 370Z Touring, w/sport, 6MT, chicane yellow/black. |
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#6 (permalink) |
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A True Z Fanatic
Join Date: Feb 2009
Location: Texas
Posts: 30,879
Drives: 370z
Rep Power: 4212 ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
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.
__________________
theDreamer's Z // Fast Intentions // Uprev // GTM // HKS // TEIN theDreamer's Silvia // URAS // GREDDY Houston Zs // Facebook // Twitter // Instagram |
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