i just bought a 2007 cayman for my gf by cash 3 weeks ago ...now i still want a 996tt for myself in the near future..
however ,here comes to financial part..
i want to get some cash in order to get the 996tt..about 35K-40k
first option is to finance the cayman but just dont know which bank to go to..
my gf just got her credit card afew months.i just tried one online bank which offer lower rate.unfortunatelly she didnt get approved..i think some other may be ok by higher interest rate....should i try lendingtree or just take the title to her bank..she is a student..what kind of interst are we looking for.?

second option is to lease this cayman by lease compare...maybe ,..just thought about this..
the good part is i dont loose alot if i want to sell the car in 3 years..
however,i paid for the tax..so dont know it can be credit if i do a lease now..

anyones input will be appreciated.
thanks..again

anthony

 

Since you've already purchased and paid tax on the car, leasing is not the way to go. You can take your title to where you bank. They can give you a secured loan up to the full purchase price of the car. You will of course give the title to your bank. As for the rate, it depends on the terms: length of finance and credit score. Your GF probably didn't qualify because her income or her credit score was not high enough. Not a big deal because you can co-sign the loan with her. Go to bankrate.com to check on current car loan rates. Best of luck on your 996TT search.

 

Chase has decent rates; should be able to get 7% or so.

-Awais

 

thanks alot.
u mentioned about the secured loan...what about a student loan?
the question is not about the interst rate..is which bank can qualify a loan to a student even with higher rate?(of course ,need a good bank to get a lower rate)...
the title is under my name now..however my score has droped..the same online bank didnt approved us....we didnt put us together though..
should we try her own bank or lendingtree?use my name and her for the second.?or have to transfer the title to her,and then i wil be the cosign?

 

is the chase 7% for a student?
the loan should be considering a new car purchase from individual (me) if we have to transfer the title?
we dont care who is or are on the title.//just which way is better to get the loan ...
anyone has persona experience can PM me..
thanks

 

What's the end goal? Do you just want to pull some cash out of the Cayman so you can put it down on the 996TT? You should have just financed the Cayman when you bought it new; that probably would have been the best time to get financing. Rates for new car from dealer are also lower than used car; especially used private party sale.

-Awais

 

Capital One. Very fast and easy approval.

 

Check out your local credit unions. They do great rates on used cars. My used NSX was financed at 4.34%... Now rates are up in the high 6's to low 7's depending on your credit score. I'd also look into credit cards. I bought my current Porsche with cash and then wanted to pull some money out for a property investment so i cash advanced 30 grand on a credit card @ 3.99% fixed til payoff-best rate out there!

 

used vs dealer new. i think its about 1%..which doesnt make much different to us..
and the dealer will make money on the finance part too..

thanks to vincent...i will check out capital one..what about lending tree?do they including capital one ?
a stupid question...is credit union is the bank that someone curently banking with or some franchase bank?
kato..
you have really good credit..i never have that low interst on the cc cash advance ....

 

3.99% is crazy cheap. I'd put that in a 1 year CD and make 120bp. But if you're late on one payment, by even a day, that rate gets jacked up to 19%.

 

Gotta ask, if you're being turned down for on line cc's, why are you looking to extend yourself even more with a TT or any Porsche for that matter?
When you get turned down for credit it's usually in your best interest in the long run. You know everytime you check your credit, or apply for credit your FICA score takes a small hit. What's your FICA, what's your good debt(mortgage/SL/secured) vs bad debt(cc's, unsecured) situation, do you own anything?
Sounds like you can't really afford a porsche just yet, why not step back and get your financial health in order.
Not trying to be a hardass, just being realistic, been there ,done that , got the t shirt. I was 40 before I bought my first porsche, now I'm about to buy a new TT, good things come to those who wait.
Good luck
BTW, never buy a gf expensive gifts that put you out on a financial limb, it's never worth it imo.

 

i just paid cash a Cayman,,is cayman a Porsche?only 911?oh..
luckly i had my first 996 c2 wehn i was 21.had slk32.now drive a bmw 540..its time for me to stick with P family now..so the bmw will retire soon..
the online bank offer low rate at 6%...so i guess not everyone can qualify..
thats why i ask where should i go?
by the way,i went to MB to lease,.and get approved ,but higher monthly payment..just cant get the special leasing..

 

I'm not sure where you're from, but if you're in California call:

Christina Radicia

877.495.1600

Tell her Jason Cuffel sent you-

I financed my car used person-to-person and got a 6.4%- better than any dealer was doing for me.

 

6.49% http://www.matadors.org/new_auto_loans.htm

 

Capital One via CostCo webiste (have to be a member and click-thru). They will also match/beat other rates if you can prove it to them.

-A