topic Re: PenFed $35k @ 6.44% (Audi S6) in Auto Loans

PenFed $35k @ 6.44% (Audi S6)

credit_is_crack — Sun, 12 Mar 2023 20:41:54 GMT

My current car warranty is about to expire so I'm going to do the responsible thing and just get another one Didn't want to go new this time (car market is not my fav right now and with chip shortages some of the brand new cars are missing features I don't want to go without)

Traded in paid off 2019 Audi SQ5 and got $34k
Picked up 2021 Audi S6 w/Black Optics for $69k (11k miles)
Financed remaining $35k with PenFed (6.44%, $587/mo for 72 months) -- EQ was 820 w 3 inquiries in last 2 years (total debt was ~$2k)
Audi Financial offered 6.99% so went with PenFed

Sure miss those days of 1.9% Interest, but the market is what it is. Plan to have this one paid off in a year

Re: PenFed $35k @ 6.44% (Audi S6)

JoeRockhead — Sun, 12 Mar 2023 14:50:45 GMT

Very nice ride, congratulations!

Re: PenFed $35k @ 6.44% (Audi S6)

Creditwiser — Sun, 12 Mar 2023 15:00:54 GMT

Sweet car Congrats on the new ride !

Re: PenFed $35k @ 6.44% (Audi S6)

fury1995 — Sun, 12 Mar 2023 15:24:48 GMT

Nice trade up! Prestige? Also, are all S6 Hybrids?

Re: PenFed $35k @ 6.44% (Audi S6)

credit_is_crack — Sun, 12 Mar 2023 18:46:57 GMT

@fury1995 wrote:
Nice trade up! Prestige? Also, are all S6 Hybrids?

Thanks @fury1995. This one is the prestige tier. As far as them all being hybrids now, I have no idea. They all have adaptive drive where it can switch between 6 and 4 cylinders based on driving mode to save on gas, but it's 100% gas. What they definetly are not anymore is V8. They stopped producing the V8 and are all now supercharged V6s

Re: PenFed $35k @ 6.44% (Audi S6)

7774x — Mon, 13 Mar 2023 00:02:40 GMT

@credit_is_crack wrote:
My current car warranty is about to expire so I'm going to do the responsible thing and just get another one Didn't want to go new this time (car market is not my fav right now and with chip shortages some of the brand new cars are missing features I don't want to go without)

Traded in paid off 2019 Audi SQ5 and got $34k
Picked up 2021 Audi S6 w/Black Optics for $69k (11k miles)
Financed remaining $35k with PenFed (6.44%, $587/mo for 72 months) -- EQ was 820 w 3 inquiries in last 2 years (total debt was ~$2k)
Audi Financial offered 6.99% so went with PenFed
Sure miss those days of 1.9% Interest, but the market is what it is. Plan to have this one paid off in a year

Did you get extended warranty?..

Re: PenFed $35k @ 6.44% (Audi S6)

CreditCuriosity — Mon, 13 Mar 2023 00:20:39 GMT

Nice car.. Miss low interest rate days as well as use to getting new car every 2 years and won't be happening with these interest rates

Re: PenFed $35k @ 6.44% (Audi S6)

credit_is_crack — Mon, 13 Mar 2023 00:32:29 GMT

@7774x wrote:

Did you get extended warranty?..

Nah. I won't keep it long enough for an extended warranty to kick on. It's still under the original Audi warranty

Re: PenFed $35k @ 6.44% (Audi S6)

credit_is_crack — Mon, 13 Mar 2023 00:35:55 GMT

@CreditCuriosity wrote:
Nice car.. Miss low interest rate days as well as use to getting new car every 2 years and won't be happening with these interest rates

I know what you mean. I didn't have any intentions of getting it, but the fact that the warranty is expiring was all the reason I needed. Plus it stung less since dealers are still being mildly generous with trade offers (not as much as a few months ago), but certainly not insulting

Re: PenFed $35k @ 6.44% (Audi S6)

CreditCuriosity — Mon, 13 Mar 2023 00:40:15 GMT

@credit_is_crack wrote:
@CreditCuriosity wrote:
Nice car.. Miss low interest rate days as well as use to getting new car every 2 years and won't be happening with these interest rates
I know what you mean. I didn't have any intentions of getting it, but the fact that the warranty is expiring was all the reason I needed. Plus it stung less since dealers are still being mildly generous with trade offers (not as much as a few months ago), but certainly not insulting

right on with warranty.. although my car is under warranty i have a few cylinders in my AMG Mercedes misfiring at 2500 miles and has been in shope the last week and sitll waiting to get it back. Glad I don't have to pay that bill. Warranties are needed .

Re: PenFed $35k @ 6.44% (Audi S6)

TRC_WA — Mon, 13 Mar 2023 22:16:36 GMT

@credit_is_crack wrote:
I know what you mean. I didn't have any intentions of getting it, but the fact that the warranty is expiring was all the reason I needed. Plus it stung less since dealers are still being mildly generous with trade offers (not as much as a few months ago), but certainly not insulting

@credit_is_crack

For kicks I looked up my '22 Bronco the other day on KBB and the trade value they showed is about $2k more than the MSRP I paid... and I checked twice. No idea what a dealer would offer but it was still interesting to see.

No plans to change vehicles because I love this Bronco but the market still seems a bit crazy... I got a nice deal on my Challenger trade when I bought this in October and am comfortably in the green right now.

Grats on the Audi.

Re: PenFed $35k @ 6.44% (Audi S6)

cashorcharge — Mon, 13 Mar 2023 22:16:00 GMT

Great choice! Congrats

Re: PenFed $35k @ 6.44% (Audi S6)

fury1995 — Tue, 14 Mar 2023 00:18:59 GMT

@TRC_WA wrote:
@credit_is_crack wrote:
I know what you mean. I didn't have any intentions of getting it, but the fact that the warranty is expiring was all the reason I needed. Plus it stung less since dealers are still being mildly generous with trade offers (not as much as a few months ago), but certainly not insulting

@credit_is_crack

For kicks I looked up my '22 Bronco the other day on KBB and the trade value they showed is about $2k more than the MSRP I paid... and I checked twice. No idea what a dealer would offer but it was still interesting to see.

No plans to change vehicles because I love this Bronco but the market still seems a bit crazy... I got a nice deal on my Challenger trade when I bought this in October and am comfortably in the green right now.

Grats on the Audi.

Valuations like that for your Bronco have been the norm for the last 20 months or so. It all started around May 2020 but caught on publically around August 2020. There was a December dip but the U/C market has bounced back a little over 7% since beginning of January.