For those of you qualified, Pen Fed is offering a .49% loan if you buy the car through them (which may also save you money)

ChuckJ
https://www.penfed.org/PenFed-Car-Buying-Service/

 

thanks for sharing. that's very low APR.

 

Financing for up to $70,000? Good I can finance a little over half of my car.

 

That is free money why would anyone buy outright? I wish we could get anywhere near that in Australia! 6% for us suckers!

 

Manged to get 1.79% on a 60 mo. loan for my wife's Volvo XC60 R-type two months ago. Just put the trade-in amount as down payment. There's no way I'm tying up a bunch of cash in a depreciating asset with these rates.

 

Perhaps that's because you have a stable financial system.

ChuckJ

 

Oh I understand it but when the official money rate for the country is 3.5%, 6% is a bit rich from the banks.......

I remember I got my first 911 back in 98 at 4.95% and I thought that was great. The cash rate at the time was 4.75%

 

Please support your bank manager. They have it hard these days - having to argue and substantiate bonuses and all that. Your bank manager also wants to drive a Porsche.
I remember paying a whopping 25% per annum the first (and only) time I had a car financed. By the time I made the last payment four years later I had payed much more than double the original purchase price.
I was stupid then. Now I understand - if I don't have the money - I can't afford it. Very simple. If I want it badly - work for it and save up !
Or apply for the job as bank manager...

Rainier

 

Dont get me wrong this has nothing with being able to afford it....... Its just a gripe I have with greedy banks and financial institutions. If I leave my $345K in the bank I will return 5% at best if I lock it away for a period of time. In an at call account I get 1%????? I just want some balance between their offerings.

I too believe in buying things you can only afford to pay cash for, but when I can get more by using my money elsewhere and borrow even at 6% and still be ahead then its a no brainer for me.