Any good finance companies that finance over 100k?

Do Pen Fed for $80K, they will place alien on it.....
Then do a Lightstream NO lien loan on the car purchase for the balance.

With excellent credit they do not place a lien and it shows as a car loan.

Lightstream only states that funds be used as you designate, kind of an
honor system, so you are not fraudulently using the funds.
In 2 days I had $$ in my deposited in my account for a used car purchase.

I just checked, Lightstream is doing $100k loans on used, 60 mo. 1.99%...

 

I was going to suggest Lightstream as well. Their limit is $100K, but as noted they will do well qualified borrowers unsecured.

I would read the terms and conditions carefully though before adding then as a second finance source behind a secured note. There may be conditions there you need to be aware of. I have never investigated that myself.

(That said, I have used Lightstream myself and can vouch for their ease of use, customer service, and all around solid experience.)

 

I used Lightstream just for the rate, but didn't need that much. Woodside Credit is popular among enthusiasts and collectors of high-dollar automobiles. Woodside does have a pre-payment penalty which lifts after 24 months. This works fine for those who buy cars as investments.

 

FYI, Penfed does go up to $100K - they increased the amount a couple years back.

 

WOODSIDE CREDIT.. I used them in the past with a great experience. They're a pretty well known outfit who specializes in exotic car financing. Rates are "ok".. Depending on credit of course 4-6%. They require strong credit and 20 percent down but they do not have a limit to what they'll lend. Terms up to 10 years with no hassle at all. Only "catch" is a 2 year pre-payment penalty but that wasn't a concern for me and as I recall it wasn't very substantial. I'd use them again without a doubt.

I enjoyed dealing with a company that understands the exotic car market and you don't have to explain why you're paying so much for such an old car in many cases. I could have gotten a better rate from my bank but the hoops I would have had to jump through made it not worth the savings. This was a piece of cake..
Good luck!

 

lightstream is amazing - if you have excellent credit they advise you to NOT add them as lien holder! pretty friggin cool

 

What's the reasoning for them to do this?

 

+1

 

El Chapo Finance. .. self certified, self insured.

 

people have disagreed with me in the past but the only reason i can think of that makes sense is they dont actually care what you do with the money. its another way for them to lend money and they probably get to classify the loan under a different category than "auto".

 

yeah, "personal, unsecured".

They sure put a lot of "unique" pressure on their underwriting capability.

 

With lightstream, it's a personal unsecured loan, which means there's no lien involved. iIf you tried to list them as a lien-holder, it would only hold things up.

 

U.S. Bank is in the mid 2% range, and I think the upper limit is $500k.

 

Ferrari Financial Services. This might not be optimum but I like to think a little of it goes into the F1 team. LOL. FFS will place a lien but no prepayment penalty.

 

Ive used Amazon Leasing and was very happy with them

 

How much did you use for Amazon leasing, if you don't mind me asking?

Also, can you use these companies if you're not American? I'm a Canadian (I can see America from my house, does that count?)

-Matt

 

Putnam Leasing is great. Very flexible but require great credit. Candidly for a smaller loan I'd try Lightstream Putnam is similar to wood side but no prepay penalty and with them, it's almost like building credit as they deal with repeat customers wonderfully

 

I've used Amazon, Premier, FFS and Woodside. They all have their pros and cons and it truly does depend on the vehicle it would seem.

On most cars, Amazon will give you a great residualand a decent MF. That combo is what of what makes up a good lease in the end. And their web site has a great and accurate lease calculator. They also have a really small pre payment penalty.

FFS is fantastic once you use them once. If you buy a car and keep it a while they will have you in the system and allow you up to 500K if you have good credit and decent income. They are only available through Ferrari dealers, which is the only drawback. The rates vary wildly with FFS I have found based on the Ferrari you buy. For some cars Amazon is way better.

Premier is also great. Their customer service is I really good. Juan is their rep for the west coast where I live and he goes out of his way to put the deal together and make it work.

Woodside is tougher at least in my experience. They are sticklers for income verification and a disaster if you are self employed and run everything through your corp. But they DO have LONG loan lengths, which is cool. Hope this helps.

 

Yup, 1.7%


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I am in the process of using Wells Fargo's SBLOC's (security backed lines of credit). right now it's about 3.5 pct line of credit with NO credit check up to 60% of my assets i transferred. Moved some Coca Cola shares over and viola, instant line of credit and they go up to $1 mil no questions asked, same day approved and access to funds next day.

They have much larger sums available with better rates with credit checks and income verification and actual repayment plans vs. Lines of Credit which only require Interest Only payments of course.

Had to do with Wells Fargo Advisors, not in the branch. Waived any investment management fees due to no required investment advice. Not using this for my cars yet, but some other things as I get to that place after my pending personal business divesting. Also no concerns on my end of 'calling' my loan because I'm not going near the 60% available, so my assets I transferred could go down by 50% and still no issues with my line of credit.

Good luck

 

Keep in mind they may decide to shut that program down at anytime




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putnam structures everything as a lease though right? through santander bank. Do they actually make loans on cars as well?

 

thats if you are a great borrower. if you arent great they do ask to be added as a lien and you need to show proof of purchase.