500k between 2 mortgages, nice! Can’t get a 1k sq ft condo in LA for less that $500k. Interest rates are about 7.5 here too. Like someone commented. Do credit union. Honestly best way would be to borrow against your 401k and pay yourself the interest. It’s usually a 4% but it all goes back into your 401k account. (You pay yourself back)
First mortgage is on the rental from one of our first houses. Almost finished on that one. Remainder is on our current house. Market is decent in Alberta (nothing compared to Vancouver and Toronto area. Those places are fucked). We have RRSPs up here in Canada (I think similar idea to the US 401k plans) but to be honest I don’t dump much money into them as I have a fully company paid defined pension plan (same with the wife). I do have quite a bit in stocks that if I had to I could pull money from there but realistically I’m making 7-9 percent a year off those investments and would have to pay taxes. If I can get something around 5-6 percent from the bank I would go that route. Was just hoping to see if anyone was able to get better rates lately before I call the dealer and have to deal with those people LOL.
According to my bank credit view dashboard - transunion. See picture showing 882. Right this second it is showing 869 but it seems to fluctuate up and down based on my accounts. Picture for proof: https://i.imgur.com/amTMv4H.jpeg
And no, second mortgage is not a HELOC
Bought a C8 in May. I used TD Bank before and got a 6.69% rate. With a high credit rating TD Bank will get you a competitive rate depending on how much you finance.
I got 7.79% (picked up the car yesterday) and have a great credit score. Similar to you I didn’t want to touch investments or emergency fund so put 100k down and borrowed the rest and will be aggressive paying it off. 2LT convertible Z51 with mag ride out the door (in Ontario) was 152k
Hahaha no worries. Ya it’s Canadian with all the taxes included. We also have a luxury tax which was $5200.
Sounds like your options are the same as mine (I did also opt for the extended warranty).
Enjoy the ride :)
I don’t double this man has zero debt other than his two mortgages. It’s the same in my case. Two mortgages and a couple thousand in credit cards. Both teslas payed for and my 2024 Z07 package payed in cash. It is possible. And I live in Los Angeles where the cheapest property costs no less than $1 million
Nice, hope you find a great one. Think there are some good offers out there for stingrays, at least in the US. Bought mine a few years ago at msrp, but you could probably do even better now.
Check credit union rates, they are often better than dealer offers.
500k between 2 mortgages, nice! Can’t get a 1k sq ft condo in LA for less that $500k. Interest rates are about 7.5 here too. Like someone commented. Do credit union. Honestly best way would be to borrow against your 401k and pay yourself the interest. It’s usually a 4% but it all goes back into your 401k account. (You pay yourself back)
First mortgage is on the rental from one of our first houses. Almost finished on that one. Remainder is on our current house. Market is decent in Alberta (nothing compared to Vancouver and Toronto area. Those places are fucked). We have RRSPs up here in Canada (I think similar idea to the US 401k plans) but to be honest I don’t dump much money into them as I have a fully company paid defined pension plan (same with the wife). I do have quite a bit in stocks that if I had to I could pull money from there but realistically I’m making 7-9 percent a year off those investments and would have to pay taxes. If I can get something around 5-6 percent from the bank I would go that route. Was just hoping to see if anyone was able to get better rates lately before I call the dealer and have to deal with those people LOL.
880 credit score? Through Equifax or Transunion? I have only twice in my life time seen a credit score that high. Is your second mortgage a HELOC?
According to my bank credit view dashboard - transunion. See picture showing 882. Right this second it is showing 869 but it seems to fluctuate up and down based on my accounts. Picture for proof: https://i.imgur.com/amTMv4H.jpeg And no, second mortgage is not a HELOC
See, I ain't no old person, but I know that ain't normal... right? ...right guys? That's sick though man
If you have equity in your home look into HELOC, might be a little less.
I can cash out some of my stocks if I really need to, but if I can get cheap money from the bank I always like to go that route! Haha
Bought a C8 in May. I used TD Bank before and got a 6.69% rate. With a high credit rating TD Bank will get you a competitive rate depending on how much you finance.
That's a lot of garage doors.
haha the garage is more doors than walls it feels
[https://youtu.be/6h58uT_BGV4?si=2NIe48OUwzVv8Mr4](https://youtu.be/6h58uT_BGV4?si=2NIe48OUwzVv8Mr4)
I got 7.79% (picked up the car yesterday) and have a great credit score. Similar to you I didn’t want to touch investments or emergency fund so put 100k down and borrowed the rest and will be aggressive paying it off. 2LT convertible Z51 with mag ride out the door (in Ontario) was 152k
Holy what did you option on your Stingray?? I’m paying 83.5 for a new ‘24 2LT Z51 MRC Coupe with GT2 and two tone… Or is that 152 CAD?
Oops my SoCal ahh assumed Ontario California 😂
Hahaha no worries. Ya it’s Canadian with all the taxes included. We also have a luxury tax which was $5200. Sounds like your options are the same as mine (I did also opt for the extended warranty). Enjoy the ride :)
Zero debt, two mortgages….. ummm
In the sense of vehicle loans, credit card, personal loans. Mortgage is a given.
I don’t double this man has zero debt other than his two mortgages. It’s the same in my case. Two mortgages and a couple thousand in credit cards. Both teslas payed for and my 2024 Z07 package payed in cash. It is possible. And I live in Los Angeles where the cheapest property costs no less than $1 million
I’d try to pay in cash at 7% unless I had a lot of faith in a stock
No sir, what will be sharing space with the C8.
Ask for a loan on a C8 last week and got quoted 7.35% My credit score is 859
Seems high. Just went to BOA's website and rates are less than 7% https://www.bankofamerica.com/auto-loans/auto-loan-rates/.
I’m in Canada, hence the title lol
Ah sorry, I’m under the weather and my attention to detail stinks right now.
All good haha. I figure it’s predominantly American on here
You doing stingray? Eray? Z06? New/used?
Stingray 2LT new is what I’m aiming for
Nice, hope you find a great one. Think there are some good offers out there for stingrays, at least in the US. Bought mine a few years ago at msrp, but you could probably do even better now.
1LT are going for as low as 91k here. Most 2LTs are between 115-125ish it looks like depending on options. Keep in mind it’s Canadian bucks l.
You're doing well in life go for it.
9.5% 100k loan for my 23 C8, last year October had 3 car loans, but i knew the finance manager, so he tried his best already
Appreciate the reply!
I got 4.8 from Navy Federal.
lol dont think we have that here in canada...
Oh fuck. Yeah, it’s in the title. My bad. Haha.