[chabot150]

I unfortunately do not have the cash to buy a used Exige so I am looking for some financing on a used Exige. Do you guys recommend any companies to look at for financing a used Lotus in the $50k range?

 

[yellowvert]

I haven't looked in about a year but typically PenFed is the cheapest and easy to work with.


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[driftwood]

I haven't looked in about a year but typically PenFed is the cheapest and easy to work with.

+1 for penfed typically having the best rates... they are very quick to approve as well

I had some quirkiness initially with them (both parties were to blame)... but knowing what I know now I would still use them again without hesitation

 

[Lowtush]

penfed is great to get the loan on older cars espicially. The only issue I ran into was when selling the car they kinda dropped the ball and made it a bit of a pain. Wasnt a deal breaker but it was a PITA. I would still do business again with them.

 

[derrek1280]

I just got mine financed by a local credit union. They gave me a good rate and had no issues. Very smooth.

Let me know once you get the financing

 

[allectrebek]

Another vote for PenFed... 2.24% on a 7 year old car is crazy low. They made it easy work to get a loan, from application to check-in-hand, it only took 4 business days.

 

[TachItUp]

+1 more for PenFed

 

[Jrigali4]

PenFed or USAA

 

[ehowton]

... or USAA

This is good to know, thanks!

 

[driftwood]

penfed is great to get the loan on older cars espicially. The only issue I ran into was when selling the car they kinda dropped the ball and made it a bit of a pain. Wasnt a deal breaker but it was a PITA. I would still do business again with them.

out of curiosity, was the car paid for at the time of sale, or did you still have a lien on it?

 

[RuPiddy]

PenFed x1000! 1.49% on my '06 Exige.

 

[ZeRoSL]

Another Penfed here I think i got 1.79% for 5 years

 

[Korntera]

I did local credit union and it was either 1.99 or 2.49% through my credit union for a 7 year old car when i bought it.

 

[Flyntgr]

Penfed is the best of all I have used.

 

[VtotheJ]

So there would be no issues financing 8+ year old Exiges? Planning to explore this next year.

 

[Gunpilot]

Your fine with most places. They don't advertise it but usually will finance 120% of blue book value. You just have to ask. USAA didn't say anything but I mentioned seeing it online and got an "oh, why yes we do"! My wife financed her 05 Elise for full asking price and it was at 13 years. Less than 4k on the ODO but it was 13 years old.

 

[sturgeongeneral]

Your fine with most places. They don't advertise it but usually will finance 120% of blue book value. You just have to ask. USAA didn't say anything but I mentioned seeing it online and got an "oh, why yes we do"! My wife financed her 05 Elise for full asking price and it was at 13 years. Less than 4k on the ODO but it was 13 years old.

That one doesn't make sense GP. 05 Elise is 13 years old?

 

[Shoof]

I attempted to use PenFed, but my problem is I have a lot of cars in my name that are used for my business and/or personal (8 cars)...They wanted to see my personal financials, and to have my wife co-sign the financing, I respectfully declined, I didn't want my wife involved. Ended up getting financing with my personal bank, sure the rate is a little higher, but much less headeaches. I lease cars all the time and never have problems with the banks or have the need to get a co-signer, why should I have to in this case? I have yet to miss a payment on ANYTHING in over 20 years. Ridiculous.

 

[XtinctElise]

Wait... you can finance a Lotus???

 

[ee.engineer]

+1 on penfed