They are a classic car financing outlet. They weren't as competitive when I checked them out.

 

Give Lightstream a try, very easy to deal with, do lots of collector/performance cars, age of vehicle not an issue. East to find on the interweb under either Lightstream or google Collector Car Financing. Good luck and best wishes!

 

 

Yea, I understand. My employers plan is about the same.
At least the company match helps offset the loss.

Buts its down across the board. My Vanguard IRAs, which have averaged about 18% gains in each of last 5 years, are being severely beaten up right now.

 

 

I think you could easily find 2.99%-4.99% interest if you shop around a bit. Nothing wrong with that. Good luck, sir. You're gonna love your new Z06.

 

Regular banks (like mine, Wells Fargo) and most CU's don't like dealing with older cars and/or of this nature. JJ Best (google it) would give me 60 months on my 99 etc etc Trouble is they are a pain in the a__... Need pictures taken (by them, by appt.), forms sent back in forth etc. LightStream is great. If your credit is good, they don't even need the car as collateral. Simple to deal with. Lien or no lien....

 

So going to look at car on saturday and I'm pumped. Any suggestions which one is easiest to deal with , with 750 credit score? 04 zo6 low mileage.

 

LightStream took me about 15 min for approval and funding was super fast.

 

I don't know if you have a newer vehicle that is paid off, something like a truck that holds good value, my credit union will let you refinance it instead of the Vette with a very good rate (I got 1.89) that's how I bought my Vette, sounds risky but remember the Vette will be paid for and you will get the better rate.

Good luck
These are great cars!

 

Are you saying borrow against your paid off truck? Similar to taking the equity out of your home for a remodel?

 

Your credit union is correct anything older than 10 years old is classified as antique which puts it to a higher rate.

 

"in the current market conditions"...

In most any conditions this is a bad play, not just the current conditions. Others have discussed the IRS penalty ramifications, so I won't write about them. Once your money is contributed, let it ride.

A 401k or 3b isn't a short term investment; not even a 5/10-year investment. Pulling money out locks your losses permanently and what was once a hypothetical loss on paper would then be an actual loss (and tax credits are a dismal compensation).

Conventional wisdom says the strategy of pulling money out and reinvesting it later (a. k. a., "timing the market") is a really bad play. Three things have to happen for that strategy to be correct in practice--1) your timing 'out' has to be perfect every time; 2) your timing 'in' has to be perfect every time; 3) you have to have the 'guts' repeatedly to get back in... for example, the DOW drops 2,000 points and NASDAQ drops 300 over 2 weeks' time; the media talks 'panic' and nothing else-- and nothing you read or hear from the 'experts' makes better sense, so you pull out... the DOW bounces back up 500 and steadies for 3 months, see-sawing back and forth; you re-invest. During the next week, it drops again, 700 points. You've lost more money. Are you going to pull out? If so, when will you reinvest this time? How do you guarantee you'll have the financial guts to do it again and this time stay the course? Or will you just do as so many others have, and regard the "short-term" (say, a one-year trend) as your last burn? ("I'm not putting any more money into that investment medium")

"I just got it back to where it was in 2008 last year. So I've stayed stagnant for 7 years." Same as a lot of folks; you're better off than those who cashed out. The good news is you're back. Remove your money for 10 specific, and selected days out of those last 7 years, and you'd still be down extremely badly. All you have to do is miss 15 days during the last eight years when the DOW had +200-gain days, and your portfolio would look like it did in 2009.

"My thought process is at least I can pay back my 401K with a positive interest to off set the negative and lower my taxable income." I don't understand what you're trying to say here.

I know you're not specifically asking about timing the market, but the process of removing and returning the money later is essentially just that. Regular periodic "repayments" won't automatically reduce your losses but a withdrawal could easily increase them just through opportunities lost during the days when the market bounces very well.

 

After researching all day so far best I found was lightstream at 3.59 for 60 months. Anyone know anywhere else better?

 

I have never used them but I have been told USAA does financing based on the value of the car not the age. Might try them if you haven't.

 

Yes, the rate was the same as a car from a dealer, no downside for me. It was a no brainer not to use savings with a rate that low.

It was all done over the phone in just a few minutes, then went to the branch to show them the truck and pick up a check to use for whatever I wanted. It was a better rate than a home equity line or a used older car.

 

Interesting. Can't argue with that rate, it's like free money

 

USAA had some great rates but I am not ex military. Wish they had banks like this for teachers which i have been for 16 years. After all my research looks like Lightsream is best i found. 3.59 is ok but I wanted in the 2.75 area.