The Lotus Cars Community banner

61 - 72 of 72 Posts

·
Registered
Joined
·
493 Posts
why dont you take out a loan at 4% and invest your 25K in mutual funds (earning 8-10% because the economy is recovering) and you come out ahead a couple points.

I've never understood paying cash for a depreciating asset. It's just not good use of your money.

Sure there is a risk that the market will crash, but if you take out a 6 year loan it's a safe bet that the market will be up over the same 6 year period.



Also, Capital One Finance is probably the cheapest, but if you go to Costco's website you can get a better rate - and it's really Capital One. Costco members get a discount on the Capital One financing!
 

·
Registered
Joined
·
12,374 Posts
For what it's worth, you might want to check your Credit Union (if you have one). Our Credit Union is currently offering 3.99% financing for up to 60 months (last time we bought a car, we took a 36 month loan for a lesser rate that the "regular"), and they reduce it to 3.75% if we apply "on-line"...

We are also going to pay off about half and finance the rest...

Tim Mullen
 

·
Registered
Joined
·
6,301 Posts
smura said:

Also, Capital One Finance is probably the cheapest, but if you go to Costco's website you can get a better rate - and it's really Capital One. Costco members get a discount on the Capital One financing!
Costco's rate through Capital One is currently listed at 4.14% for 37-60 months, but if you are an executive member the rate is .10 less......good deal....

Capital One quotes 4.39% on their web site.....
 

·
Registered
Joined
·
493 Posts
Capital One and Costco are the same. You just get a discount for being a Costco member. It costs $50 to be a member, well worth the rate difference.
 

·
Registered
Joined
·
7,431 Posts
I originally looked at leasing and many companies won't even look at it once they see the name Lotus. I think many companies took a short term bath on the M100 Elans and frankly, the Esprit is no wonder kid when it comes to residuals.
 

·
Registered
Joined
·
6,301 Posts
rates continue to go up...

costco (cap one) 4.24% for 37-60 months (.1 less if executive member)

capital one directly - 4.49%

Being optimistic about my delivery date, I just applied through costco at the 4.14% exec member rate....

now hurry up with my car:D
 

·
Registered
Joined
·
1,352 Posts
Since this thread has come up again.

I received a 3.9% loan amoratized at a 10 year term for the first 48 months. At 40k, this puts my minimum payment at $400 a month. :bow:

Of course, I will pay an extra $200 a month towards the principal.

But if I need to skimp.... I can.

After 48 months, the loan will adjust.

This loan is with NAPUS FCU. Now, I just need a damn car to purchase before they expire my approved status.
 

·
Registered
Joined
·
5,420 Posts
ivan1 said:
rates continue to go up...

costco (cap one) 4.24% for 37-60 months (.1 less if executive member)

capital one directly - 4.49%

Being optimistic about my delivery date, I just applied through costco at the 4.14% exec member rate....

now hurry up with my car:D
Would the extra 50 bucks up from the business membership be worth it for the lower rate?
 

·
Premium Member
Joined
·
29,081 Posts
1FASTMX5 said:
Would the extra 50 bucks up from the business membership be worth it for the lower rate?
For $100 you get an executive membership. They give you a 2% cash back for your purchases with the executive membership so it can pay for itself if you spend a bit...or need a spouse card, buy stuff for resale, or use the other business services.
 

·
Registered
Joined
·
6,301 Posts
1FASTMX5 said:
Would the extra 50 bucks up from the business membership be worth it for the lower rate?
the 0.1 lower rate makes little difference, depending on how much you finance and for how long - for 30k finance 60 months, I believe it is about $80 less in total you pay with the lower rate over 5 yrs. But as Randy said if you shop a lot at Costco, the 2% cash back is nice
 

·
Forum Mop
Joined
·
612 Posts
Genjuro said:
Since this thread has come up again.

I received a 3.9% loan amoratized at a 10 year term for the first 48 months. At 40k, this puts my minimum payment at $400 a month. :bow:

Of course, I will pay an extra $200 a month towards the principal.

But if I need to skimp.... I can.

After 48 months, the loan will adjust.

This loan is with NAPUS FCU. Now, I just need a damn car to purchase before they expire my approved status.
now THAT is an interesting idea.... excuse my ignorance, but what is NAPUS FCU??
 

·
Premium Member
Joined
·
29,081 Posts
ace3 said:
now THAT is an interesting idea.... excuse my ignorance, but what is NAPUS FCU??
Postal service federal credit union.
 
61 - 72 of 72 Posts
Top