Wish the ACR could be "bought" this weekend - awesome auto loan rate...

[Martin]

Just got a flyer from PenFed, and they're offering a 0.99% rate 48 month auto loan for a $100k loan this weekend. If the ACR was "buyable" now, I'd probably jump on it - that rate just can't be beat... Maybe next Memorial Day weekend...

[Blue T/A 2.0]

Just got a flyer from PenFed, and they're offering a 0.99% rate 48 month auto loan for a $100k loan this weekend. If the ACR was "buyable" now, I'd probably jump on it - that rate just can't be beat... Maybe next Memorial Day weekend...

I still think you can do it. Just make an application for what you want to borrow and after you get approved, call them and tell them that you have to order it. I think the application is good for 90 days from approval.

[Martin]

Hmm... Thanks for the advice. I might do a drive down to Normandin tomorrow and see what is possible. The last time I did a deal with PenFed, they required some sort of delivery confirmation (and I think VIN) at the time the loan was approved - but that was a while ago. I generally like to just pay cash for toys, but at 0.99%, it's hard to pass up on it. That's almost free money.

[ViperSmith]

With inflation it surely is free money.

But ACRs won't be delivered until September so won't fly.

[Martin]

With inflation it surely is free money.

But ACRs won't be delivered until September so won't fly.

That's what I was thinking, too. I may as well do a trip to my dealer and see what's possible nonetheless. I miss my Gen IV ACR, and I have a vision in my head on what I want in a Gen V ACR. It's gotta be the Extreme Aero package, though - and ideally with the ballistic nylon Sabelt seats with a no-frills interior. I digress, though...

[darbgnik]

I generally like to just pay cash for toys, but at 0.99%, it's hard to pass up on it. That's almost free money.

Haha, ya free is tempting. When I bought this car a month ago, the manager asked about financing... I replied, No, your financing is shit!

He got kind of offended, and said I didn't even know what it was yet. I asked, Is it 0%? He sad no. I said, Well, it's shit then! I'll just buy it.

[Martin]

The last time I bought a new Viper for "cash" it was kind of a scary experience and I'd rather finance most of it on the next one. My last car got held because of some regulation about paying with a cashier's check, and they required that I gave them my SSN for some stupid reporting to the Feds. That really wasn't too cool from my perspective.

Anyhow, if there is any way to take advantage of this deal, I'm gonna do it. I'd much rather be using someone else's money to buy a toy - as long as the money is almost free. Ideal situation is that hyper-inflation happens as all the end-of-world prognosticators predict, and a $100k loan is like a $10k loan

[swexlin]

That's still one helluva monthly payment.....but if you already have the cash on hand, why not?

[Voice of Reason]

SUVs and pickups are financed every day for 70-80k. I'm not ashamed at all to say I financed my car, my 2.0% rate is close enough to free money for me. It's especially insane when I compare it to the Trans Am I financed shortly after college in 01. That was a 30k loan with a 8.5% rate, I figured up that my cost to finance that car is almost identical to the cost of financing my Viper. It's amazing what a low interest rate does.

[viper_eddie]

In my opinion, anything under 3% is basically free money. I'm self employed so for me it's better to put cash towards inventory where I can make a higher return but if you don't have that, put 50% down and finance the rest.

Theoretically, anything at or under the inflation rate is free money...so 0.99% is definitely better than free. You're actually getting more for less.

[LmeaViper]

The last time I bought a new Viper for "cash" it was kind of a scary experience and I'd rather finance most of it on the next one. My last car got held because of some regulation about paying with a cashier's check, and they required that I gave them my SSN for some stupid reporting to the Feds. That really wasn't too cool from my perspective.

Anyhow, if there is any way to take advantage of this deal, I'm gonna do it. I'd much rather be using someone else's money to buy a toy - as long as the money is almost free. Ideal situation is that hyper-inflation happens as all the end-of-world prognosticators predict, and a $100k loan is like a $10k loan

Freaking Govt's...I had that happen here (Cdn) once to me. They want to make sure you did not obtain that cash from sellin weed or what not.