While browsing FB Marketplace, I found a gem I'd been chasing for a minute. A 2003 Jaguar S-Type R, black on black, with 85k miles on it. Now, most lenders wouldn't touch something like this with a 10ft pole, but I needed to purchase a new-to-me DDer, and I'm finally at the point where I can treat myself after years of grinding.
First, I went to PenFed, but the best they could do was a 7.5%. Not good enough. DCU would do 6.5%, but they would require an appraisal, and I didn't have enough time for that.
Then I tried using Plastiq to get a wire sent to the seller, they denied that, stating that they don't do peer-to-peer transactions.
After that, I ended up settling for a personal loan from DCU @11%. After POI & identity verification, I was approved and funds were deposited on the same day. Before anyone says anything about the interest, I've got an ace up my sleeve.
I had received a 0% APR BT offer for 12 months on one of my Navy cards, and that card recently got a CLI, enough to hold the balance of the purchase price without a sweat. I'm going to use that to transfer the entirety of the loan before it accumulates any interest. It's going to destroy my utilization percentages for a bit, but it's worth to avoid giving the bank a free $1000 of my hard-earned money. I'm going to let the loan report for the 1st month and then transfer the balance over. Would've done something like Lightstream, but I was really trying to minimize HPs. Anyway, enough yappin', here's a pic of the kitty:
It's a 21 year old Jag, how are you going to finance the repairs?
(Seriously though, congratulations.)
