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I Have Commitment Issues
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Im looking to finance an older exotic. Does anyone have any experience with lenders that give rates under 4% for car older than 5yrs? I have excellent credit but when it comes to this they wont give me anything under 7% WTF!!!

Thanks for the help
 

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thats standard. 7% is all you're going to get for a car over 5 yrs old.. hell you're lucky they're even willing to do it some banks wont even do cars over a certain age

try penfed.. pentagon fed cred union maybe they can do better idk

another option is to take the crappy rate then do a refi. refi's will always be lower rates - theyre trying to pull business over.. also youre basically already pre-approved (if another lender did the loan the new one is predisposed to accept as well)
 

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Excellent Credit Profile
Rates are subject to change. To qualify for our lowest loan rates, you must have excellent credit and sign up for automatic payments.

Loan Term Less Than $15,000 $15,000–$34,999 $35,000 or More
12 Months 4.79% — 5.15% 3.25% — 3.49% 3.25% — 3.49%
24 Months 4.79% — 5.15% 3.25% — 3.49% 3.25% — 3.49%
36 Months 4.79% — 5.15% 3.25% — 3.49% 3.25% — 3.49%
48 Months 4.79% — 5.15% 3.49% — 3.69% 3.49% — 3.69%
60 Months 4.79% — 5.15% 3.49% — 3.69% 3.49% — 3.69%
72 Months Not Available 3.59% — 3.85% 3.59% — 3.85%
84 Months Not Available Not Available 7.04% — 7.04%
 

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i've used firsttech for my 3 previous cars, but switched to penfed for the lotus, since FTFCU has a higher rate for older cars. penfed didn't seem to care that my car was 7 model years old. i'm not sure what their limit is for their quoted online rates; give 'em a call and find out. it's tough to beat 1.99%
 

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check out penfed also. A lot of us on lotustalk have used them. I don't remember seeing anything about age of vehicle. Just that they will finance 80% of NADA, or 80% of sale price if NADA is not available, on vehicles under 100k miles. Im sure there are other stipulations, but check them out. They have 1.99 right now. Hope it helps.
 

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Thanks guys i will give penfed a call. Is there any restriction to penfed or can anyone get a loan?
Anyone can join and get a loan. All you have to do is make a minimal 1 time donation to support military families. It's only like $10.

I used Penfed in the past and my dad has used them as well.

Gotta ask, What are you looking to pick up? PM or text if you don't want to post.
 

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FWIW...there are banks that will do it...and credit unions-especially smaller ones where you can actually TALK to the loan officer..

I got my 05 financed through USAA for their lowest APR....this was last year
 
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