Current Financing Rates and Length of Term for 150k+ Loan Amount

I am in the UK and can’t find a loan below 5.5%. Any advice. I have excellent credit.

Thanks

 

I agree. Be financially prudent. Just from my own experience though, I waited 10 years longer than I needed to. It’s my only regret relating to cars. I wish I would have taken the plunge far sooner. I waited too long in fulfilling my dream and now I am trying to make up for lost time. To each their own, but here is where I seem to be different than OP:

1). I simply cannot relate to the “marginal utility” of my cars diminishing rapidly. Even the car that I have owned the longest, my Huracan Performante fascinates me as much today as it did when I acquired it 28 months ago. The experience is fresh And livevery time I climb behind the wheel. I am filled with wonder every time I perform a cold start, and that sensation lasts until I sadly put the parking brake on.

2). I’m also hyper focused on building assets (own 3 businesses, employ 700 people, etc), but not so that I might worship at the alter of net worth, but that I might enjoy security, partake in unique experiences, have extra flexibility, and, most importantly, buy more cars!! I use to work and build for the sake of accumulating assets, and did so at the detriment of all else. Now, I strike a much better balance, and if my assets are $xM or so less at my passing than they otherwise might have been if not for the nasty car habit, then so be it.

Having said all that, I might well be reading too much into OP’s reflections. It’s just a couple themes presented run counter to my personal sensibilities.

 

I am paying 5.61% with an 851 credit score... I'll have it paid off in 14 months, so not too much to worry about for me. I'll pay $3k more than I wanted to when all said and done. I can piss that away at the poker table in a bad night.

 

HUGE sale on cars coming soon....keep your powder dry.

 

I'm thinking about financing a 2012-2015 458 but I see some lenders only accept the 72 months or longer loans if its a newer vehicle (2016+), why is that and what can I do about that?

 

Funny to look back on this comment from a year ago - quite the opposite has happened - the value of most assets has gone up considerably including cars. Who would have thought!

 

Indeed, prices have GONE UP.

Check this thread now going on 9 years if you want to see more Chicken Littles.

If I listened to these clowns and jokers, I would have almost a decade of my life wishing and dreaming instead of smiling every day when I look at my garage. I didn't lose a cent and got almost 9 years of priceless memories.

The world ends tomorrow - no regrets.

@ttforcefed remember those folks telling everybody to sell now because all Ferrari are worthless?

Goodness gracious, definitely comedians everywhere.