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Need this audi rsq8 135k

Quame15
Contributor

Need this audi rsq8 135k

I have car history 48k paid zero down 6 year payment 


10 credit cards my grandmother has history dating so far back I am trying to get a135k truck need to know who may approve us if we cosign my income is 108k a year Hers 120k and we both have 3 different car notes paid she also has a car noted for 2020 traverse one month and cashed out we have navy cards been with them since 2016 memberships I'm with penfed and we both are with chase she is also I'm looking for anyone to approve this car for us don't matter we're we have to any suggestions and I'm willing to put 9k down or 10%?

10 REPLIES 10
njcobra10tha
Established Contributor

Re: Need this audi rsq8 135k

I am sorry this has to be said:

  • You do not need this 135K vehicle
  • If you need a cosignor then you probably shouldn't get it
  • The loan will be at least $1,900 a month (assuming 7 years 5% interest 135K plus tax title license less 10K downpayment)
    • Does this make the most sense for you?  Just consider if purchasing a house might be a better option.  Only you can answer but for $1,900 a month you can have a $420,000 mortgage.

Having a co-signor is a huge burdeon on them.  No matter how much they love you and want to do something nice for their grandson it's not a good idea.  What if there was something unexpected and she wanted to refinance her house and couldn't because of this $1,900 a month car payment.

 

Looking back on my life I have had 19 new cars and would have been in so much better of a financial position if I didn't succumb to "I need this car".

Message 2 of 11
Quame15
Contributor

Re: Need this audi rsq8 135k

I asked what bank to go thru I understand what u saying but this isn't what asked sir I own my home already

Message 3 of 11
aj2121
Regular Contributor

Re: Need this audi rsq8 135k

If you are just looking for anyone to approve the loan, go to the dealer that has it and let their finance department get an approval for you. They will have relationships with lenders and could potentially get you an approval where you would not have had one before. Will this be the best rate? Probably not. Will it be competitive? Most likely, especially when considering your income, small down payment (10% on a 6 figure car is small), LTV, DTI, and PTI.

FICO8 as of 4/9/21:
Message 4 of 11
4sallypat
Frequent Contributor

Re: Need this audi rsq8 135k

Audi Financial Services is their captive lender so I'd go with @aj2121 and have the dealer work on the financing.

OP you do realize that German car depreciation is quite severe and can put you upside down as soon as you drive off the lot ?

 

I only say that because I am looking at getting a USED CPO Audi Q7 and only after 2 years old it is selling at half price (50% depreciation).

I'd rather let someone else eat the depreciation and I get to enjoy the remaining years with a steady decline in value.

Message 5 of 11
barca
Regular Contributor

Re: Need this audi rsq8 135k

That is a powerful SUV - just reading about it now.

 

bank of America is one bank I know can go up to 100k - meaning you have to find the remaining  35K .

 

as the previous posters suggested, AUDI financial will be your best bet.

 

you did not provide your FICO score. 

I don't know if penfed/navy gives auto loan that big, otherwise they give very good rates if you are a member.

 

another option you might want to consider is leasing the Audi 

 

good luck

Message 6 of 11
4sallypat
Frequent Contributor

Re: Need this audi rsq8 135k

Leasing is the best way to afford the monthly on this car.

 

The best rate lender for cars is SunTrust/LightStream but they only finance up to $100K: https://www.lightstream.com 

 

I am buying out my car at the end of the year with Lightstream...

Message 7 of 11
incognitony
Regular Contributor

Re: Need this audi rsq8 135k

Lease an Audi and let some other person pay the maintenance or get a Highlandler and put an Audi badge on it. 

Message 8 of 11
flyckfly
Established Member

Re: Need this audi rsq8 135k


@Quame15 wrote:

I have car history 48k paid zero down 6 year payment 


10 credit cards my grandmother has history dating so far back I am trying to get a135k truck need to know who may approve us if we cosign my income is 108k a year Hers 120k and we both have 3 different car notes paid she also has a car noted for 2020 traverse one month and cashed out we have navy cards been with them since 2016 memberships I'm with penfed and we both are with chase she is also I'm looking for anyone to approve this car for us don't matter we're we have to any suggestions and I'm willing to put 9k down or 10%?


You go not NEED a 135k car. You just want one. Smiley Happy

Message 9 of 11
Loquat
Moderator

Re: Need this audi rsq8 135k

The OP didn’t come here for financial judgment and around these here parts it is not our goal, objective, or duty to set ones financial compass straight.


If you have something relevant to the subject by all means post. If not, I kindly ask that you move on.

 

Please click here to refresh yourself on Forum Etiquette. 

Message 10 of 11
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