Credit Union just approved me for $100K!!!! The story of my purchase...
#1
Credit Union just approved me for $100K!!!! The story of my purchase...
Whoa!!!! Are they insane???
I was halfway kidding when I spoke with the loan Department. They asked me how much I would like to apply for. I said, "How much you got?" They said you can approve me up to $100,000... I said, "Well then, Let's do $100K" They ran my credit and in about a minute came back and said, "OK Mr. Vector... you're approved." No Freakin Way!! I guess that perfect FICO is worth something after all!
Well, I'm getting a new C7Z Coupe!! I had a C5 FRC and selling that car was such a mistake.... I'm so going to make up for it!
I'm pretty much set on on custom ordering the vehicle so I can get it exactly how I want it. I'm also doing Museum Delivery so I can pretty much go with any dealer. One thing is, it's getting to the end of the build year so I gotta move or wait for 2017...
Anyway, this is what I'm thinking of as of right now...
Z06 Coupe 2LZ
Corvette Racing Yellow Tintcoat
M7
Black Aluminum Wheels
Yellow Calipers
Jet Black Seats w/ sueded microfiber
Comp Seats (if I can confirm they fit right for me)
Sueded Microfiber Steering Wheel
Carbon Fiber Ground Effects - Carbon Flash
Performance Data and Video Recorder
Corvette Museum Delivery
Still debating A8 as well.....
I was halfway kidding when I spoke with the loan Department. They asked me how much I would like to apply for. I said, "How much you got?" They said you can approve me up to $100,000... I said, "Well then, Let's do $100K" They ran my credit and in about a minute came back and said, "OK Mr. Vector... you're approved." No Freakin Way!! I guess that perfect FICO is worth something after all!
Well, I'm getting a new C7Z Coupe!! I had a C5 FRC and selling that car was such a mistake.... I'm so going to make up for it!
I'm pretty much set on on custom ordering the vehicle so I can get it exactly how I want it. I'm also doing Museum Delivery so I can pretty much go with any dealer. One thing is, it's getting to the end of the build year so I gotta move or wait for 2017...
Anyway, this is what I'm thinking of as of right now...
Z06 Coupe 2LZ
Corvette Racing Yellow Tintcoat
M7
Black Aluminum Wheels
Yellow Calipers
Jet Black Seats w/ sueded microfiber
Comp Seats (if I can confirm they fit right for me)
Sueded Microfiber Steering Wheel
Carbon Fiber Ground Effects - Carbon Flash
Performance Data and Video Recorder
Corvette Museum Delivery
Still debating A8 as well.....
#2
How much were you intending to get approved for?
#4
Melting Slicks
Member Since: Dec 2015
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Just because they'll give it to you doesn't mean you should take it.
Buying a $90,000 car is one thing, financing a $90,000 car is another.
If you a one percenter by all means have at it, and have fun!
Buying a $90,000 car is one thing, financing a $90,000 car is another.
If you a one percenter by all means have at it, and have fun!
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johnnyvector (04-17-2016)
#6
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St. Jude Donor '15
If you wait for the 17 you'll be waiting a while. They don't restart z06 production til later in the year. I'd get one now, especially before you talk yourself out of it, and you should get exactly what you want! Get the m7, it's a hell of a lot of fun!
#7
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That would be one heck of a monthly payment. But if you can afford it, enjoy that new car.
#10
If the interest rate is lower than your average return on your invested money then it makes sense to finance even if you have the money.
Drive a car with comp seats before you order. I'm babysitting a buddy's Stage-3 C7Z for the summer and have found the comp seats too much for lots of driving. But I'm 6'4" 250 with broad shoulders.
They're great on track. I drive a student's C7Z51 at VIR last year and they were a very nice blend of a trackable seat that is tolerable on the street.
Drive a car with comp seats before you order. I'm babysitting a buddy's Stage-3 C7Z for the summer and have found the comp seats too much for lots of driving. But I'm 6'4" 250 with broad shoulders.
They're great on track. I drive a student's C7Z51 at VIR last year and they were a very nice blend of a trackable seat that is tolerable on the street.
#11
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St. Jude Donor '15-'16,'18
No way I would borrow that much money to finance a depreciating asset. That said, go for it if you can afford the payment but you will be upside down for at least 3 years. JMHO.
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BladeSilver2015 (04-16-2016)
#12
Tech Contributor
The suede wheel can only be ordered with the upgraded seat package, but you can easily get one after you have the car if you don't order the seats, or go with an aftermarket wheel that's even better
#14
Le Mans Master
#15
It sounds like a nice configuration and museum delivery is great. I picked up my Laguna blue with 2LZ + PDR/nav (black interior suede comp seats) two weeks ago. I thought about it awhile but decided on the A8 and I am happy with that choice. Although mine won't be a daily driver I decided the level 2 aero with its more extended front splitter would be more troublesome with rapid elevation changes so I went with level 1 and had ACS skirts added by the museum during PDI.
This week I passed the 500 mile point, got the first oil change, and finally the weather was warm enough for the tires. What a fun car!
I was planning to pay cash for my Z but I ended up financing 50% because my credit union offered such a low rate. I should have taken them up on their offer to finance whatever I wanted but that was beyond my comfort level. Most credit unions (and even most banks) are providing extremely low rates IF you have excellent credit. I expect banks are once again starting to become much more cautious for those with good but not excellent ratings as there are numerous hot spots around the country where a large percentage of auto loans are in the troubled category, mostly due to energy sector issues.
This week I passed the 500 mile point, got the first oil change, and finally the weather was warm enough for the tires. What a fun car!
I was planning to pay cash for my Z but I ended up financing 50% because my credit union offered such a low rate. I should have taken them up on their offer to finance whatever I wanted but that was beyond my comfort level. Most credit unions (and even most banks) are providing extremely low rates IF you have excellent credit. I expect banks are once again starting to become much more cautious for those with good but not excellent ratings as there are numerous hot spots around the country where a large percentage of auto loans are in the troubled category, mostly due to energy sector issues.
Last edited by NSC5; 04-16-2016 at 06:56 AM.
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johnnyvector (04-17-2016)
#16
Team Owner
You are not seriously thinking of financing the entire amount, are you? If you finance $100,000 for 72 months, at 3.69%, including approximately $8.000 in taxes, the total comes to $1,674 monthly payment. And a grand total cost of $120,561. Not good, in my opinion.
Enjoy the ride.
Enjoy the ride.
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nmvettec7 (04-16-2016)
#17
Melting Slicks
You are not seriously thinking of financing the entire amount, are you? If you finance $100,000 for 72 months, at 3.69%, including approximately $8.000 in taxes, the total comes to $1,674 monthly payment. And a grand total cost of $120,561. Not good, in my opinion.
Enjoy the ride.
Enjoy the ride.
#18
#19
you sound like my best friend who bought my CTS-V because he HADDDD to have it for 48,000 financed at 17.7% interest for 96 months on a non-warrantied 4 year old car that even I TRIED to talk him out of buying from me. Did me no good hahaha! Anyways, if you have the money, by all means, go for it, the car would be sweet. Last color i'd ever get is yellow, but that's just me. Enjoy it!