Looking for best loan options for model Y, 72 or 84 months, located in Washington State. Obviously DCU is available but past 72 months the rates really peak. I found Sound Credit Union quotes a rate of 2.54% for 84 months. They also have a program called auto advantage, which is essentially a lease with a balloon payment at the end where you can either refinance into a normal loan for the balance, trade it in or return it and pay nothing more. Any other options I should be looking at?
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Best financing options Washington State
- Thread starter swiftd03
- Start date
I was going to wait until you responded to elaborate on your thoughts before I said anything else but after looking at your other posts it is pretty clear that you are as much of a douchebag as you came off to be on this post so I won't bother waiting.
You have no idea what anyone on this forums financial situation is so for you to be coming on here and telling people who should and should not be buying a car is pretty freaking ignorant of you. You also have no idea how people are using the car or how long they intend on keeping the car. For you to be telling people that you shouldn't be buying a Tesla unless you have a million dollar net worth or telling responsible people on here that they don't have high enough insurance coverage to be able to afford a Tesla is pretty high up on the idiot meter and that is by internet forum standards so you've already shot well above an already very high bar. I am happy for you and your situation to be able to buy a Tesla as a "toy" just to drive when you feel like it and am happy you get to add another status symbol to show off at your country club but nothing gives you the right to come here and be a dick to people who are driving to work and use a Tesla as a daily driver.
There are plenty of people out there who go to work every day, make great money and don't have a million dollars net worth who want to buy a Tesla because they like the car. You trying to gatekeep the lowly middle class from depreciating the value of your status symbol does nothing but make you look like an ignorant asshole. There are also plenty of people out there that have high net worth but are drastically over leveraged and are buying a Tesla they can't afford because they out spend their actual income. I don't know about you but to me the guy who is buying the Tesla who makes $120k a year and only has a house payment of $1,600 a month with no other debt who likes to keep his payments low and money in investments seems like a better bet to pay back a loan on a $60k car then a guy with a $1 million net worth that is over leveraged.
For some context on things you might not understand, I've worked my ass off the last 15 years to be where I am now, I have the ability to pay cash for the car today if I wanted to but why would I take money out of investments I spent the last 15 years building that grow 8+% a year to buy a car when the bank will give me a loan for 2.2% for that same time frame? I am already trading in a car that has been paid off for 4 years and putting a substantial down payment in (more than half the $60K cost of the car) so I have no reason to be concerned about negative equity or what happens if the car gets totaled. Also, I am going to be saving $2,500 a year at least on fuel costs by buying a Model Y instead of something like a loaded Ford Explorer or similar. On top of that I get reimbursed mileage when I travel for work so I get on average $550 a month for mileage. I put around 14,000 miles a year on my vehicles so even if I did a 7 year loan at the end of the loan I would only have 100,000 miles on the car which is nothing for an EV. By that point my youngest will be done with college and my expenses will have gone down drastically. After charging costs, the payment and insurance I am going to be out of pocket well lower than my $550 a month reimbursement and not paying for fuel (except for the rare time when I need to supercharge for a trip to Spokane, Portland, etc.).
Now, I am going to assume that you are actually trying to be helpful, against every indication you have provided in your posts on this forum. Please continue to use your knowledge to educate people who may be coming here looking for advice on insurance that state minimums don't cut it and that there are huge risks with carrying low coverages. A lot of people do not know about this and I had to learn that lesson the hard way myself early in my life. You obviously have some sort of financial prowess ( I hope) or you would not be in the position to buy a Model S as a toy to play with on the weekends, I am happy for you for that, please use some of that prowess to try to educate people who may not have had the same experience and education that you have had. Just to be clear, demeaning people and educating them are not the same thing.
I come from a military family and am the first in my entire family to even go to community college. I had to learn a lot of things the hard way and did not have the resources or the sense at the time to educate myself about financial matters. Once I did life became a lot easier and happier for me and my family. I had that opportunity because I found a person in my life who was smarter and more experienced than I was and I asked him for help. Without him reaching down to help out the poor kid working 2 jobs trying to keep college together at the same time I would not be where I am right now. Because of that I spend time giving back and helping in the community I grew up in to try to spread some of that knowledge on kids that don't have anyone to teach them the hard lessons in life. Some of these kids will take portions of that advice and use it to better their lives, a lot of them won't but every one of them has a resource that I did not have when I was in their place. You talked on another post about boy scouts and always being prepared. If you were ever involved in scouting I would remind you of something that may have been familiar to you at one point. An oath to help others at all times and be morally straight. Before you start shitting on other people on the internet perhaps you should take a look in the mirror and ask what you are doing for others by doing so?
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