A good friend of mine has been looking into getting a 996TT, but he wants to finance it. He nor I have ever finance a car over 7 years old. I imagine it may be difficult finance one of these normally, never mind in the current loan restrictions. Anybody had any experience with this recently? If all else fails, he could buy a 2004+ car. It is kinda hard to pass on some of these high 30 low 40k 01-02 cars now, cash may be the only way though.

 

PENFED! 3.99%, went with them on the 01 I picked up in Sept. www.penfed.org

 

local credit union finianced me at 24 with minimal down 10% at 6%apr i believe the contributing factors are finiancing 85-105% of NADA Book value/ KBB value and milage over 60k is gonna be challenging to get a loan for.

so car purchase price under book value, lower milage and you should get a nice rate as long as you have good credit.

 

24 months?

 

24 months? 24 years old?

 

age silly, 5 years i think i stretched this one as my income fluctuates throughout the year ona project basis


edit 60months is what im at buying this fall in august


this damn keyboard sucks i swear

 

+1 for Penfed

 

Thanks. I thought a 24 month loan wouldn't make sense, but some banks only give a shorter term loan(48 month loan or under) for older cars(over 8 years old).

 

I went through AAA. Good rates and VERY easy. Had a check in 2 days. 5.99% for 4 years with 0 down. (actually $300 down) for a 45k mile, 5 year old car.

 

+1 for Penfed, Zero Down 3.99% 60 Months for me

 

If you are looking for a longer term (60 -72 months) but at a higher APR (~12%) you can check out JJ Best. I was looking at them for an 01/02 996TT but I just picked up an 05 996TT and went with Chase instead.

 

That PenFed option sounds great, but you could also look into a local credit union. I've found that CU's tend to be pretty lenient when it comes to age and mileage on used car loans through the years. Good luck!

 

Very true. I ALWAYS use credit unions except for this AAA deal. Credit Unions are usually privately owned and not subject to many of the laws that regular banks are.

 

I've financed my 04 car at 3.25% with the local CU. I did put some money down to get this rate, tho.

 

To mirror what Steve said, definitely shop all your local CU's.

There's one here in OR that a friend has purchased two Supra's with, allowing 72mo at 5% for both. They also had they're own value system (that rather shocked me), noting his high mileage TT was valued at up to $32K. I haven't made contact yet until I've found the 996TT (or maybe another Supra) I want, but my fingers are crossed that nothing has changed.

I would also assume getting the 996 financed would be simpler considering the inflated book values vs actual street sales. Many places only care about the numbers, so if you're only borrowing $35k on a car that's $50k in the book, advantage you.