[chabot150]

Hey all,

Long time lurker, first time poster here. I have decided that I want an Elise as DD. I am looking into different financing options, and am wondering what you guys have used to finance your Lotus's. Term lengths and who you financed through would be great.

I saw that Woodside Credit specializes in Exotics, w/ terms up to 96 months. Any other companies like that?

TIA Guys! Great board you have here!

 

[Abe]

Hey all,

Long time lurker, first time poster here. I have decided that I want an Elise as DD. I am looking into different financing options, and am wondering what you guys have used to finance your Lotus's. Term lengths and who you financed through would be great.

I saw that Woodside Credit specializes in Exotics, w/ terms up to 96 months. Any other companies like that?

TIA Guys! Great board you have here!

Before the economy went bust, most banks would finance Lotus with the exception of B of A (at least for CA) and most banks still would finance a Lotus however, just having good credit isn't enough anymore. If you already have a car loan, chances of getting a second loan is slim just because banks do not want to take the risk. Also, most banks would finance up to 84 months on a new car (current model year) but in my opinion, it's best to go through a credit union as the rates are typically better and are less stricted than regular banks-a small fee will get you in as a member.

If I remember correctly, Woodside Credit only finances a minimum amount of $95K-$100K? I forget but I'd definitely double check with them. Good luck :up:

 

[chabot150]

OOOOOOps. Sorry for posting to the wrong forum. I called Woodside the other day, and they said they finance Lotus's. The 50kish isn't an issue. The lower the cost of the vehicle though, the shorter the term I believe. I think if you are over 100k, they extend payments out until 144 months.

 

[Vishus_1]

Is your objective to stretch out the loan as long as possible or get the lowest interest rate possible?

Abe is right. Credit Unions have some of the best rates going. I would suggest Pentagon Federal Credit Union. It is a government credit union and you don't have to be a government employee or serving to join - a small donation (I think it's $15) and you can be a member. I can't find anyone who beats their rates.

https://www.penfed.org/

 

[ageek2000]

Credit Unions are where it's at. I bought a used '05 three weeks ago. Got a 4.9 for 60 months.