Lotus Emira Financing/Lease Rates

[DerTheDer]

I just want to throw some numbers out. I looked at some finance numbers. I have exceptional credit and this is what I was quoted. I am already thousands into the vehicle, but I will show numbers as if i am just buying the car with ZERO down for the first. This is something to think about, seeing these numbers hurt. Pay cash if you can and finance as LITTLE as possible.

For 93900

36 months​

$2,986
monthly payment

8.99% APR*​

with AutoPay and excellent credit
Loan option 2 of 5, 9.19% APR, 48 months, $2,345 monthly payment autopay and excellent credit,

48 months​

$2,345
monthly payment

9.19% APR*​

with AutoPay and excellent credit
Loan option 3 of 5, 9.49% APR, 60 months, $1,972 monthly payment autopay and excellent credit,

60 months​

$1,972
monthly payment

9.49% APR*​

with AutoPay and excellent credit
Loan option 4 of 5, 9.49% APR, 72 months, $1,716 monthly payment autopay and excellent credit,

72 months​

$1,716
monthly payment

9.49% APR*​

with AutoPay and excellent credit
Loan option 5 of 5, Lowest payment, 10.99% APR, 84 months, $1,607 monthly payment autopay and excellent credit,

Lowest Payment

84 months​

$1,607
monthly payment

10.99% APR*​

with AutoPay and excellent credit

-----------------

Now I will be financing around 15k for it because I would still like to have some money in my savings to enjoy my lifestyle, but if it keeps getting pushed I will be able to pay cash for it. For 36 Months it puts me at 477 a month at 8.99%. This whole delay is whopping my ass as far as getting a good finance %. My last car was 4% and the one before that was 3.5%.

 

[2BIG2FAIL]

I just want to throw some numbers out. I looked at some finance numbers. I have exceptional credit and this is what I was quoted. I am already thousands into the vehicle, but I will show numbers as if i am just buying the car with ZERO down for the first. This is something to think about, seeing these numbers hurt. Pay cash if you can and finance as LITTLE as possible.

For 93900

36 months​

$2,986
monthly payment

8.99% APR*​

with AutoPay and excellent credit
Loan option 2 of 5, 9.19% APR, 48 months, $2,345 monthly payment autopay and excellent credit,

48 months​

$2,345
monthly payment

9.19% APR*​

with AutoPay and excellent credit
Loan option 3 of 5, 9.49% APR, 60 months, $1,972 monthly payment autopay and excellent credit,

60 months​

$1,972
monthly payment

9.49% APR*​

with AutoPay and excellent credit
Loan option 4 of 5, 9.49% APR, 72 months, $1,716 monthly payment autopay and excellent credit,

72 months​

$1,716
monthly payment

9.49% APR*​

with AutoPay and excellent credit
Loan option 5 of 5, Lowest payment, 10.99% APR, 84 months, $1,607 monthly payment autopay and excellent credit,

Lowest Payment

84 months​

$1,607
monthly payment

10.99% APR*​

with AutoPay and excellent credit

-----------------

Now I will be financing around 15k for it because I would still like to have some money in my savings to enjoy my lifestyle, but if it keeps getting pushed I will be able to pay cash for it. For 36 Months it puts me at 477 a month at 8.99%. This whole delay is whopping my ass as far as getting a good finance %. My last car was 4% and the one before that was 3.5%.

IMO these rates seem a bit high. I have been quoted lower w/ ~800 FICO score (checked through Amex). I have little credit history: no debt, my only real credit history is credit cards (always paid in full) and one paid-off car loan (got a 2.6% car loan during COVID and ended up just paying it off in ~1 year for peace of mind).

 

[Drlonline]

I just want to throw some numbers out. I looked at some finance numbers. I have exceptional credit and this is what I was quoted. I am already thousands into the vehicle, but I will show numbers as if i am just buying the car with ZERO down for the first. This is something to think about, seeing these numbers hurt. Pay cash if you can and finance as LITTLE as possible.

For 93900

36 months​

$2,986
monthly payment

8.99% APR*​

with AutoPay and excellent credit
Loan option 2 of 5, 9.19% APR, 48 months, $2,345 monthly payment autopay and excellent credit,

48 months​

$2,345
monthly payment

9.19% APR*​

with AutoPay and excellent credit
Loan option 3 of 5, 9.49% APR, 60 months, $1,972 monthly payment autopay and excellent credit,

60 months​

$1,972
monthly payment

9.49% APR*​

with AutoPay and excellent credit
Loan option 4 of 5, 9.49% APR, 72 months, $1,716 monthly payment autopay and excellent credit,

72 months​

$1,716
monthly payment

9.49% APR*​

with AutoPay and excellent credit
Loan option 5 of 5, Lowest payment, 10.99% APR, 84 months, $1,607 monthly payment autopay and excellent credit,

Lowest Payment

84 months​

$1,607
monthly payment

10.99% APR*​

with AutoPay and excellent credit

-----------------

Now I will be financing around 15k for it because I would still like to have some money in my savings to enjoy my lifestyle, but if it keeps getting pushed I will be able to pay cash for it. For 36 Months it puts me at 477 a month at 8.99%. This whole delay is whopping my ass as far as getting a good finance %. My last car was 4% and the one before that was 3.5%.

Did you happen to look into leasing? Curious what that would run these days.

 

[Davebeats]

I just want to throw some numbers out. I looked at some finance numbers. I have exceptional credit and this is what I was quoted. I am already thousands into the vehicle, but I will show numbers as if i am just buying the car with ZERO down for the first. This is something to think about, seeing these numbers hurt. Pay cash if you can and finance as LITTLE as possible.

For 93900

36 months​

$2,986
monthly payment

8.99% APR*​

with AutoPay and excellent credit
Loan option 2 of 5, 9.19% APR, 48 months, $2,345 monthly payment autopay and excellent credit,

48 months​

$2,345
monthly payment

9.19% APR*​

with AutoPay and excellent credit
Loan option 3 of 5, 9.49% APR, 60 months, $1,972 monthly payment autopay and excellent credit,

60 months​

$1,972
monthly payment

9.49% APR*​

with AutoPay and excellent credit
Loan option 4 of 5, 9.49% APR, 72 months, $1,716 monthly payment autopay and excellent credit,

72 months​

$1,716
monthly payment

9.49% APR*​

with AutoPay and excellent credit
Loan option 5 of 5, Lowest payment, 10.99% APR, 84 months, $1,607 monthly payment autopay and excellent credit,

Lowest Payment

84 months​

$1,607
monthly payment

10.99% APR*​

with AutoPay and excellent credit

-----------------

Now I will be financing around 15k for it because I would still like to have some money in my savings to enjoy my lifestyle, but if it keeps getting pushed I will be able to pay cash for it. For 36 Months it puts me at 477 a month at 8.99%. This whole delay is whopping my ass as far as getting a good finance %. My last car was 4% and the one before that was 3.5%.

Where did you get those rates? I’m looking at my credit union and they’re showing 5.49%

 

[kitkat]

I just want to throw some numbers out. I looked at some finance numbers. I have exceptional credit and this is what I was quoted. I am already thousands into the vehicle, but I will show numbers as if i am just buying the car with ZERO down for the first. This is something to think about, seeing these numbers hurt. Pay cash if you can and finance as LITTLE as possible.

For 93900

36 months​

$2,986
monthly payment

8.99% APR*​

with AutoPay and excellent credit
Loan option 2 of 5, 9.19% APR, 48 months, $2,345 monthly payment autopay and excellent credit,

48 months​

$2,345
monthly payment

9.19% APR*​

with AutoPay and excellent credit
Loan option 3 of 5, 9.49% APR, 60 months, $1,972 monthly payment autopay and excellent credit,

60 months​

$1,972
monthly payment

9.49% APR*​

with AutoPay and excellent credit
Loan option 4 of 5, 9.49% APR, 72 months, $1,716 monthly payment autopay and excellent credit,

72 months​

$1,716
monthly payment

9.49% APR*​

with AutoPay and excellent credit
Loan option 5 of 5, Lowest payment, 10.99% APR, 84 months, $1,607 monthly payment autopay and excellent credit,

Lowest Payment

84 months​

$1,607
monthly payment

10.99% APR*​

with AutoPay and excellent credit

-----------------

Now I will be financing around 15k for it because I would still like to have some money in my savings to enjoy my lifestyle, but if it keeps getting pushed I will be able to pay cash for it. For 36 Months it puts me at 477 a month at 8.99%. This whole delay is whopping my ass as far as getting a good finance %. My last car was 4% and the one before that was 3.5%.

Seems outrageously high on interest rates, who was this with?

 

[2BIG2FAIL]

Where did you get those rates? I’m looking at my credit union and they’re showing 5.49%

Curious what credit union? I think I am going to just pay cash, but my preferred credit union was far and the way the best option when I bought my first car, and they are advertising minimum rates of 6% now.

 

[Davebeats]

Curious what credit union? I think I am going to just pay cash, but my preferred credit union was far and the way the best option when I bought my first car, and they are advertising minimum rates of 6% now.

Auto Loans | GTE Financial

Great rate auto loans for new and used vehicles from GTE Financial. Tampa Credit Union offering auto loan refinancing, auto services, TrueCar discounts and more.

www.gtefinancial.org

 

[DerTheDer]

Seems outrageously high on interest rates, who was this with?

Where did you get those rates? I’m looking at my credit union and they’re showing 5.49%

I viewed those VIA lightstream, open to other options. Ive used them for 2 vehicles before. Non collateral car loans.

 

[FlyNavy01]

Credit unions will almost always have much better rates than big banks. My last car I got 1.49% for 60 months. I invested what I had planned to use as a down payment and it ended up paying for the car and then some. Mostly luck, but I would've taken an 84 month loan at that rate if it was possible. With current rates, or anything above ~6% I'll likely pay cash (I realize this is a huge privilege) to keep it simple and own the car free and clear, but everyone's situation is different of course.

 

[Maurice R]

Thankfully I am fortunate enough to pay cash. At this point in my life I’m debt free and do not want to incur any debt. Have been putting away enough over the last 24 months to pay cash. Been earning 5% nett on my savings.
For anyone interested Capital One Bank was offering 4.9% on a 6 month CD
Not trying to be full of it but a monthly payment in excess of $1000 or more is a lot in these uncertain times is crazy

EDIT just for clarification that’s not where I’m getting the 5% nett from.

 

[DerTheDer]

Thankfully I am fortunate enough to pay cash. At this point in my life I’m debt free and do not want to incur any debt. Have been putting away enough over the last 24 months to pay cash. Been earning 5% nett on my savings.
For anyone interested Capital One Bank was offering 4.9% on a 6 month CD
Not trying to be full of it but a monthly payment in excess of $1000 or more is a lot in these uncertain times is crazy

Agreed, I do not like large car payments, or car payments at all! With the next delay Ill be able to pay cash.

 

[Hell4Leather]

I just want to throw some numbers out. I looked at some finance numbers. I have exceptional credit and this is what I was quoted. I am already thousands into the vehicle, but I will show numbers as if i am just buying the car with ZERO down for the first. This is something to think about, seeing these numbers hurt. Pay cash if you can and finance as LITTLE as possible.

For 93900

36 months​

$2,986
monthly payment

8.99% APR*​

with AutoPay and excellent credit
Loan option 2 of 5, 9.19% APR, 48 months, $2,345 monthly payment autopay and excellent credit,

48 months​

$2,345
monthly payment

9.19% APR*​

with AutoPay and excellent credit
Loan option 3 of 5, 9.49% APR, 60 months, $1,972 monthly payment autopay and excellent credit,

60 months​

$1,972
monthly payment

9.49% APR*​

with AutoPay and excellent credit
Loan option 4 of 5, 9.49% APR, 72 months, $1,716 monthly payment autopay and excellent credit,

72 months​

$1,716
monthly payment

9.49% APR*​

with AutoPay and excellent credit
Loan option 5 of 5, Lowest payment, 10.99% APR, 84 months, $1,607 monthly payment autopay and excellent credit,

Lowest Payment

84 months​

$1,607
monthly payment

10.99% APR*​

with AutoPay and excellent credit

-----------------

Now I will be financing around 15k for it because I would still like to have some money in my savings to enjoy my lifestyle, but if it keeps getting pushed I will be able to pay cash for it. For 36 Months it puts me at 477 a month at 8.99%. This whole delay is whopping my ass as far as getting a good finance %. My last car was 4% and the one before that was 3.5%.

Rates seem high. I’ve been recently quoted 7.9% for 84 months $100k as a signature style loan. If I use the car as security and add a down payment the rate stays the same but the terms offered go up to 120 months. I’d shop around.

 

[Dabjbr]

I’ve used both of these credit unions. Much better rates…

 

[Sjetware]

My local credit union is about 6.5% - anything 7% and above id be shopping for a new lender.

 

[kin]

My credit union is similar, 6-7% rates currently

 

[Cwolf]

IMO these rates seem a bit high. I have been quoted lower w/ ~800 FICO score (checked through Amex). I have little credit history: no debt, my only real credit history is credit cards (always paid in full) and one paid-off car loan (got a 2.6% car loan during COVID and ended up just paying it off in ~1 year for peace of mind).

Agreed. I think any car payment over $700.00 is ridiculous. Rates are high and will stay that way a while, use a Credit Union if you can. But if you can only put $10k and finance the rest, don't get the car. If you say you have no debt, well pay at least half in cash. Car debt is a huge loser. If you can truly afford a $95k car, you should be able to afford 50% down. Just cause you can make the payment doesn't mean much. Not trying to be arrogant, but I never bought six figure cars till I could pay cash if I had to. The only good way to borrow a lot of money for a car (say $50k or more) is if rates are low. I used to buy and sell cars around $70-90k when my eqline was 2.5% and I had a tax deduction. Basically I was getting the money for 1.5%. That makes sense in terms of how to use debt. Getting in with $80k car debt at 7% is not a good financial decision. To each their own, just sayin.

 

[KAR120C]

Agreed. I think any car payment over $700.00 is ridiculous. Rates are high and will stay that way a while, use a Credit Union if you can. But if you can only put $10k and finance the rest, don't get the car. If you say you have no debt, well pay at least half in cash. Car debt is a huge loser. If you can truly afford a $95k car, you should be able to afford 50% down. Just cause you can make the payment doesn't mean much. Not trying to be arrogant, but I never bought six figure cars till I could pay cash if I had to. The only good way to borrow a lot of money for a car (say $50k or more) is if rates are low. I used to buy and sell cars around $70-90k when my eqline was 2.5% and I had a tax deduction. Basically I was getting the money for 1.5%. That makes sense in terms of how to use debt. Getting in with $80k car debt at 7% is not a good financial decision. To each their own, just sayin.

Of course, any of us buying a $100k Lotus probably aren't making wise financial decisions to begin with...

 

[Cwolf]

Of course, any of us buying a $100k Lotus probably aren't making wise financial decisions to being with...

Hey, you have to live a little too! It's a balance.

 

[K_Squared]

Hey, you have to live a little too! It's a balance.

I was about to say, buying this car really shouldn't be a huge financial decision. If it is, then it's most likely a bad move. Buying this car is purely an entertainment play. Let's hope the price is worth the fun!

 

[KAR120C]

Hey, you have to live a little too! It's a balance.

I keep a finger on the scales so "new car" always wins. My wife says the first step to healing is to admit I have a car buying problem. I don't know what the second step is so I keep buying cars and repeating the first step. Working ok so far...