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    Jul 23, 2005 1:55:18 AM

    AJVIP
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    AJVIP
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    Survey - Payment Options / Financing

    Hey just wanna throw out a survey - for those of you that financed your car, how much did you put down (including your deposit), did you get a good rate, etc? I may pick up my car in a week or two instead of the end of August...it finished early so... :-D

    Jul 23, 2005 3:33:03 AM

    mcdelaug
    Expert
    mcdelaug
    Loc: Fort Worth, Texas , United States
    Posts: 1919, Gallery
    Registered on: Mar 3, 2004
    Reply to: AJVIP

    Re: Survey - Payment Options / Financing

    Prequalify with any of the internet capable lenders...then see what the dealer can offer you.

    Try Wells Fargo:
    https://autofinance.wellsfargo.com/rateTermPage.jsp

    But Capital One is usually competitive too.
    http://www.capitalone.com/autoloans/auto.php?linkid=WWW_0605_AUTO_03_HOME_C1_01_T_ALNU

    I can't promise the links will work as pasted, but you should be able to figure it out.

    mcdelaug

    Jul 23, 2005 3:40:14 AM

    Moogle
    Rennteam Master
    Moogle
    Loc: Bay Area , United States
    Posts: 5019, Gallery
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    Reply to: mcdelaug

    Re: Survey - Payment Options / Financing

    Down payment is a thing of the past.

    Do something else with the capital, if you are good, you can beat the interest rate.

    Jul 23, 2005 4:38:39 AM

    AJVIP
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    AJVIP
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    Reply to: Moogle

    Re: Survey - Payment Options / Financing

    Im doing it through this Porsche Options program (cause you can't lease from Porsche in NY anymore) - hoping that the rate isn't too outrageous...

    Jul 26, 2005 5:36:07 PM

    ELUSIVE
    Junior
    ELUSIVE
    Loc: Denver, CO
    Posts: 98, Gallery
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    Reply to: AJVIP

    Re: Survey - Payment Options / Financing

    I put very little down and got a rate through my local credit union for 2.75% for 84 months.

    I say go with the credit unions over the major banks. I also got gap insurance for a $250 flat rate.

    Stacey

    Jul 26, 2005 5:50:13 PM

    wtsnet
    Rennteam Pro
    wtsnet
    Loc: Bath, UK
    Posts: 2430, Gallery
    Registered on: Nov 19, 2004
    Reply to: ELUSIVE

    Re: Survey - Payment Options / Financing

    2.75%??? My word. You get it easy over there!

    Jul 26, 2005 6:09:34 PM

    LowPolarMoment
    Senior
    LowPolarMoment
    Loc: Boca Raton, FL
    Posts: 725, Gallery
    Registered on: May 22, 2005
    Reply to: Moogle

    Re: Survey - Payment Options / Financing

    Quote:
    Moogle said:
    Down payment is a thing of the past.
    Do something else with the capital, if you are good, you can beat the interest rate.


    "Buy things that appreciate and rent things that depreciate". - Henry Ford

    Jul 26, 2005 8:10:37 PM

    Michael Russell
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    Michael Russell
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    Reply to: LowPolarMoment

    Re: Survey - Payment Options / Financing

    ajcastaneda --

    I am interested in that program as well. Are you finding it to be fairly easy to work with your dealer on?

    Michael

    Jul 26, 2005 8:30:50 PM

    cayman_s
    Newbie
    cayman_s
    Loc: USA
    Posts: 32, Gallery
    Registered on: Jun 8, 2005
    Reply to: Michael Russell

    Re: Survey - Payment Options / Financing

    My 987S is coming to around $60,000, I've got about $40,000 in cash and got a Citibank Diamond Rewards card for the other $20,000. It's 0% for 12 months with no fees on balance transfers, they mailed me a check for $20,000, and after your 1st purchase Citibank also sends a $100 gift card. Seemed like a good/easy way to go, I will probably move what's left of the $20,000 to another 0% offer when the Citi 12 months are up.

    Jul 26, 2005 8:33:12 PM

    mcdelaug
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    mcdelaug
    Loc: Fort Worth, Texas , United States
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    Reply to: cayman_s

    Re: Survey - Payment Options / Financing

    Make sure your dealer will accept payment in this form, as many credit card "checks" still incur a 2-3% fee for the vendor.

    mcdelaug

    Jul 26, 2005 10:33:45 PM

    AJVIP
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    AJVIP
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    Reply to: mcdelaug

    Re: Survey - Payment Options / Financing

    All right, I'm going to try to respond to everyone (I thought people were just ignoring this thread, haha)

    Elusive-

    I can't see myself financing something for more than 4 or 5 years unless its a house so I'm going 60 month at the most. In 5 years I plan on giving the vehicle to my younger brother or to my parents and have them finance or pay for the balloon payment (similar to lease buy-out, but in Porsche Options terminology, it's the final balloon).

    Lowpolar,

    I don't believe that quote applies to Porsches :-D They are just too enjoyable for me to pass up.

    Michael,

    I am arranging financing through the options program in a couple of weeks when I have time to go into my dealership and set the terms. I have already put down $1200 on my order date (5/31) and have more to put down if necessary. I was thinking of putting 3800 more (to make it 5K down) or slightly more (6K down) to lower my monthlies. The MSRP of the vehicle comes out to 58,900 (with $2,000 discount from the dealer, and Bose and heated seats thrown in for free) 2005 prices, final 2006 MSRP won't be known until my dealer receives the actual car (end of this week/early next). The down payment would come out to 7-8% of MSRP+tax which I believe is enough. For some reason I'm afraid that I may get turned down even though my FICO range is in the high 6's and low 7's, which according to a couple of Porsche dealers puts me at a Tier 2 or borderline Tier 1. My fingers are crossed.

    What I'll end up doing is write a check that's linked to my VISA (McDelaug, my dealership does accept these...just a matter of the dealership calling the CC company and asking if there are funds or not to satisfy that check amount) and give a personal check as well.

    My fingers are crossed hoping that everything will go as planned...I have waited way too long for my baby. :-D

    -AJ

    Jul 26, 2005 11:27:14 PM

    LowPolarMoment
    Senior
    LowPolarMoment
    Loc: Boca Raton, FL
    Posts: 725, Gallery
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    Reply to: AJVIP

    Re: Survey - Payment Options / Financing

    Ajcastaneda said: I don't believe that quote applies to Porsches :-D They are just too enjoyable for me to pass up.
    Don't pass up a Porsche. It applies to Porsche too. Leasing is equivalent to renting. There's no need to build equity in something that's depreciating. You get a negative return on your investment.

    Jul 26, 2005 11:36:16 PM

    cayman_s
    Newbie
    cayman_s
    Loc: USA
    Posts: 32, Gallery
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    Reply to: AJVIP

    Re: Survey - Payment Options / Financing

    mcdelaug, Citibank sent me a regular check for the 20k payable to me as my balance transfer, I put it in my Emigrant-Direct savings for now earning a gigantic 3.5%. Some credit cards (I think Discover and Chase) will do balance transfers as a direct deposit straight into your checking account which would be a little easier.

    Jul 27, 2005 12:20:30 AM

    Michael Russell
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    Michael Russell
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    Posts: 109, Gallery
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    Reply to: cayman_s

    Re: Survey - Payment Options / Financing

    Ajcastaneda --

    Thanks for the info. If you dont mind I would very much like to hear back after you are through with the experience, to see how smoothly it went. I just have a feeling that my very small Porsche Dealer is going to look at my like I have three eyes when I ask about it.

    Michael

    Jul 27, 2005 2:15:17 AM

    ELUSIVE
    Junior
    ELUSIVE
    Loc: Denver, CO
    Posts: 98, Gallery
    Registered on: Sep 20, 2004
    Reply to: AJVIP

    Re: Survey - Payment Options / Financing

    Quote:
    ajcastaneda said:
    Elusive-

    I can't see myself financing something for more than 4 or 5 years unless its a house so I'm going 60 month at the most. In 5 years I plan on giving the vehicle to my younger brother or to my parents and have them finance or pay for the balloon payment (similar to lease buy-out, but in Porsche Options terminology, it's the final balloon).




    I wasn't going to do 84 months either, but at that interest rate it's in my best interest to do as I can actually pay less for the car in the long run because I can make more than 2.75% with my money invested properly.

    Jul 27, 2005 10:01:39 AM

    throt
    Rennteam VIP
    throt
    Loc: London , United Kingdom
    Posts: 6078, Gallery
    Registered on: May 9, 2005
    Reply to: AJVIP

    Re: Survey - Payment Options / Financing

    Quote:
    ajcastaneda said:
    All right, I'm going to try to respond to everyone (I thought people were just ignoring this thread, haha)

    Elusive-

    I can't see myself financing something for more than 4 or 5 years unless its a house so I'm going 60 month at the most. In 5 years I plan on giving the vehicle to my younger brother or to my parents and have them finance or pay for the balloon payment (similar to lease buy-out, but in Porsche Options terminology, it's the final balloon).

    Lowpolar,

    I don't believe that quote applies to Porsches :-D They are just too enjoyable for me to pass up.

    Michael,

    I am arranging financing through the options program in a couple of weeks when I have time to go into my dealership and set the terms. I have already put down $1200 on my order date (5/31) and have more to put down if necessary. I was thinking of putting 3800 more (to make it 5K down) or slightly more (6K down) to lower my monthlies. The MSRP of the vehicle comes out to 58,900 (with $2,000 discount from the dealer, and Bose and heated seats thrown in for free) D

    -AJ



    Jeeps you guys are so lucky , we get well shafted along with crap % rates and shown the door if we ask for freebies ( even mats is a no ) and your List pricing for vehicles are so much cheaper as well . You guys need to pop over here and go into one of our P dealers , believe me you will have a good laugh , you end up going back home and ordering two , meaning for us if we come to yours it would be like buy one get second free.

    Lol..

    throt..

    Jul 27, 2005 10:50:37 AM

    WAY
    Rennteam Master
    WAY
    Loc: Melbourne, Australia
    Posts: 3344, Gallery
    Registered on: May 11, 2004
    Reply to: throt

    Re: Survey - Payment Options / Financing

    I wouldn't be complaining too much if I were you. We are even worse off than you UK P-car drivers! Just as well fuel cost a little less here.

    Jul 27, 2005 3:25:36 PM

    wtsnet
    Rennteam Pro
    wtsnet
    Loc: Bath, UK
    Posts: 2430, Gallery
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    Reply to: throt

    Re: Survey - Payment Options / Financing

    Quote:
    throt said:crap % rates and shown the door if we ask for freebies ( even mats is a no )


    Hey, I thought I negotiated some leather-edged mats and a decent interest rate (2.5% over base rate - and I had to really turn the screws for that)... then they slipped me the basic mats that (I think) they give free with the car anyway!

    In UK showrooms they don't have chairs in the sales offices......You just have to bend over the desk.

    AND the petrol price is silly.

    AND it's bloody raining again!



    Well, we Poms have got to keep our reputation for being whingers.

    Jul 27, 2005 6:28:53 PM

    throt
    Rennteam VIP
    throt
    Loc: London , United Kingdom
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    Reply to: wtsnet

    Re: Survey - Payment Options / Financing

    " Ben Dover " , is he a good salesman then . LOL ..

    Free mats thats it I am dowm there this weekend to throw some .. At the mo I have squat diddly but on second deposit down they shall be getting some tongue lashing from myself .. ..

    throt..

    Jul 27, 2005 7:05:53 PM

    sertag
    Junior
    sertag
    Loc: italy
    Posts: 138, Gallery
    Registered on: Dec 14, 2004
    Reply to: throt

    Re: Survey - Payment Options / Financing

    guys...

    anyone buying CASH in here
    besides me...

    Jul 27, 2005 7:47:06 PM

    dreamcar
    Rennteam VIP
    dreamcar
    Loc: Hampshire , United Kingdom
    Posts: 8797, Gallery
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    Reply to: sertag

    Re: Survey - Payment Options / Financing

    Quote:
    sertag said:
    guys...

    anyone buying CASH in here
    besides me...



    me.

    Jul 28, 2005 8:15:00 AM

    Rich C (UK)
    Veteran
    Rich C (UK)
    Loc: Mortimer, UK
    Posts: 1098, Gallery
    Registered on: Jul 11, 2004
    Reply to: dreamcar

    Re: Survey - Payment Options / Financing

    Quote:
    dreamcar said:
    Quote:
    sertag said:
    guys...

    anyone buying CASH in here
    besides me...



    me.



    And me... 'Chip and Porsche' - gave the debit card a fright!

    Jul 28, 2005 2:53:45 PM

    pols
    Junior
    pols
    Loc: ireland
    Posts: 98, Gallery
    Registered on: Mar 20, 2005
    Reply to: Rich C (UK)

    Re: Survey - Payment Options / Financing

    Wow, try buying in Ireland, no discount, nothing free & Euro 72,000 for base 2.7 + Euro 1000.00 for 12 months road tax & Euro 1650.00 for an insurance approved tracker that must be fitted. I managed 4.6% Apr which is pretty good. Anyway the Sun is shining & the Galway Races are on so I am not complaining

    Jul 28, 2005 2:55:49 PM

    pols
    Junior
    pols
    Loc: ireland
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    Reply to: pols

    Re: Survey - Payment Options / Financing

    Oh I forgot my racing companion.

    Jul 29, 2005 8:20:06 AM

    pols
    Junior
    pols
    Loc: ireland
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    Reply to: pols

    Re: Survey - Payment Options / Financing

    Ready for the off.

    Jul 29, 2005 8:41:26 AM

    pols
    Junior
    pols
    Loc: ireland
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    Reply to: pols

    Re: Survey - Payment Options / Financing

    Impatient!

    Jul 29, 2005 1:59:30 PM

    mcdelaug
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    mcdelaug
    Loc: Fort Worth, Texas , United States
    Posts: 1919, Gallery
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    Reply to: pols

    Re: Survey - Payment Options / Financing

    A nice car, but a gorgeous dog...

    mcdelaug

    Jul 29, 2005 4:49:22 PM

    cayman_s
    Newbie
    cayman_s
    Loc: USA
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    Reply to: AJVIP

    Re: Survey - Payment Options / Financing

    I agree, that's a very dignified looking passenger in your Boxster.

    Jul 30, 2005 2:26:24 PM

    JZ
    Pilot
    JZ
    Loc: London, UK , United Kingdom
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    Reply to: cayman_s

    Re: Survey - Payment Options / Financing

    Lovely dog, but I won't let mine anywhere near the seats. Claw marks and sports seat leather don't mix!!

    Did you ever consider going to the North for the car?

    Cheers,

    JZ

    Jul 31, 2005 9:02:11 AM

    pols
    Junior
    pols
    Loc: ireland
    Posts: 98, Gallery
    Registered on: Mar 20, 2005
    Reply to: JZ

    Re: Survey - Payment Options / Financing

    Quote:
    JZ said:
    Lovely dog, but I won't let mine anywhere near the seats. Claw marks and sports seat leather don't mix!!

    Did you ever consider going to the North for the car?

    Cheers,

    JZ



    There is as throw folded up on the seat, so no paw marks, but getting an 4x4 as a runaround for the dog.

    Thanks she is special.
     
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