Any one encounter a credit union not willing to finance a 9 year old RS6?

[905084]

I think a lot of the burden is on the individual too..why would someone buy a rare, "one-off" car, that you KNOW would be ridiculous to maintain...if you couldn't afford it?... unless you really don't care about your credit...In which case, the risk is BACK on the lender...but not everyone in this economy is liquid, and most are also not willing to put life on hold, especially for a stupid opportunity to own one of these stupid cars......wait.....what?

Finally seems like people are getting to the point where they aren't willing to put their life on hold. Finally. And as for credit, banks won't lend anyway, so does it matter if your credit is good? I've got great credit, still could never get a loan for real estate, but I'm sure I could walk off any car lot with a 60k car.....wow this is messed up.

[ttboost]

I'm not ashamed to admit that I couldn't have bought this car with cash..mostly because we decided to build our garage with our cash...you know....REAL equity...regardless, I have no problem living on someone else's money ...especially at these ridiculously low rates...Proof in point, we just bought a brand new VW TDI Touareg for 0%...yep...nothing, nada, zilch. VW let us borrow $50k for nothing...for 5 years...probably pay it off in 3 or so, but still won't pay a penny in interest...

[905084]

Just be careful that you consider real estate to be "REAL" equity....not always true....believe me, I know. And of course VW lent you money at 0%, depreciation on the VW will still be way more than you spend on maintenance for the RS.

[QuattroRS]

Kinda harsh there eh

I have owned a RS6 for 5 years.

Regardless of my ability to pay for a 6000 dollar repair or not my RS6 has cost me 600 in repairs over the 5 years.

Financial institution's and risk management? How did MERS work out for everyone? There is your gold standard of risk management.

Cheers to you and your CTSV or the bomb AMG.

I'm amazed anyone is financing an RS6 without requiring a full powertrain warranty. It's a failure of the finance institution's risk management practices - why would they write a loan that would seem to me to be set up to default? Given that most people who would need a loan on an RS6 probably can't easily cough the $6000+ when their tranny inevitably grenades. And what then? Car payments on a cool looking gargoyle for your driveway until you come up with the funds? What you gonna drive in the interim? Oy vei.

[Jimmy Joe]

Pixie, I think you are right on your assesment. But it seems that you stepped on some toes. (not members of this forum, of course).