02-17-2008, 12:56 PM
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#1
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Registered User
Join Date: Jun 2005
Location: Surf City, NC
Posts: 1,079
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Last year I bought Mrs Sixter an X5 with that 3.5% NFCU loan Bob Z mentioned. That said, if you own your home (or share it with a bank), the home equity loan can be a good way to get cash.
Payments are effectively spread over 20-30 years. And might be deductible. "Consult your tax adviser" is the usual caveat.
My local Bank of America pushed some very good terms at us. Still considering.
__________________
Mike
04 Boxster S - Basalt/Savanna, 6sp, Carrera lites, hardtop
70 914-6 - Black over tan, original/stock
PCA since 1970
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02-17-2008, 10:02 PM
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#2
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Registered User
Join Date: Jun 2004
Location: New Orleans, LA
Posts: 617
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How do you join Penfed without being a federal employee? I am about to start having to figure out how I'm going to finanace my car in a couple of weeks. From what I hear a credit union is a best bet, but the only one I can possibly join that I know is one that I'm going to have to get my brother to join so I can join, and he's not exactly excited about doing so.
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02-18-2008, 04:28 AM
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#3
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Registered User
Join Date: Sep 2007
Location: Virginia
Posts: 256
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Quote:
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Originally Posted by LoveBunny
How do you join Penfed without being a federal employee?
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They don't care, you'll have to open a savings account, I started mine with $5 bucks 
__________________
'06 Cayman 'S' - Sold (Sport Chrono, PASM, TPMS, 19' CAS Wheels, NAV)
'06 Cayenne - Sold
'01 Boxster 'S' - Sold
'00 Boxster - Sold
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02-18-2008, 09:22 AM
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#4
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Registered User
Join Date: Jun 2004
Location: New Orleans, LA
Posts: 617
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Quote:
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Originally Posted by tboyer
They don't care, you'll have to open a savings account, I started mine with $5 bucks |
Hmmm... I was noticing that I could probably join one of those various associations they list just to make it seem more legit though. I hate to just lie about it. Do they even ask?
Also, does it matter that you don't live near the branch? I don't think they have a location here. I'm still thinking I might try and join Riverland locally though if I can get my brother to open his account.
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02-18-2008, 10:37 AM
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#5
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Registered User
Join Date: Sep 2007
Location: Virginia
Posts: 256
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Quote:
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Originally Posted by LoveBunny
....just to make it seem more legit though. I hate to just lie about it. Do they even ask?
Also, does it matter that you don't live near the branch?
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They're a bank, they want your business. At least in my case, I gave them my personal info, they created my savings account and wired transferred $5 into it, no questions asked. Once I had an account, I used their online forms to apply for my refi loan. I had my check the next day.
I only plan on having a used car loan with them so lack of local branches was not an issue for me.
__________________
'06 Cayman 'S' - Sold (Sport Chrono, PASM, TPMS, 19' CAS Wheels, NAV)
'06 Cayenne - Sold
'01 Boxster 'S' - Sold
'00 Boxster - Sold
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02-18-2008, 03:57 PM
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#6
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Registered User
Join Date: Jun 2004
Location: New Orleans, LA
Posts: 617
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well, I just opened a penfed account and wired $5 into it. Seems like it was pretty easy. I guess I'll wait a bit before applying for a loan.
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