How To Get a 100k -300k Auto Loan (Exotic Car Classic Car Highline Car Financing)
ฝัง
- เผยแพร่เมื่อ 30 ก.ย. 2024
- How to Get approved for a Auto Loan $100,000 - $300,000 People think all you need is a high score but thats completely false. we break down all the things you will need
Contact me at Lucky@Automotivelife.com
IG 📷: / automotive.life
FB: / automotive-life-207241...
Visit Our Website for Online Courses
www.Automotive...
How to Start a Dealer Licensing
How to Start a Rental Car/ Exotic Rental Car
How to Start a Auto Repair Shop
How to Start a Auto Body Shop
How to Flip Cars for Extra Cash in 30 Days
"It's very scary... but people are desperate and they wanna show off"
That made me LOL
Just picked up brand new AMG and everything he said was true... Bank didn't care about my 800+ credit score all they said was I never had a loan for over $200K lol glad deal went through tho this guy knows what he's talking bout!
Did you need a down payment
@@LESURELOVE really should always be doing 20% down unless its ultra new and you have very low intrest
@@LESURELOVE Most of the time you do/should have a huge down payment. Shows u can actually afford the car, one guy goes in with 800 credit score trying to get a 200k car with 0 down, doesn't look that great to the banks, another guy comes in maybe 720-750 credit score but 60k down, on same 200k car one dude despite not having "perfect credit" on paper just presents himself as someone who can afford the car no problem. I planned on buying my exotic with a large sum down payment as a given, 90k car i put 35k down.
What lenders do I need to go thru?
I laughed out loud at the comment about the "amazon FBA" people. I do that type of business myself and I sell well in the seven figures a year, but drive a 20k car and keep my head down. There are SO MANY people who claim to be big FBA sellers and show themselves with an exotic car and I know well that the pool of people in this line of work who can actually afford a car like that are very very few.
It's better to go under the radar really. But if I'm buying a sports car it's not to show off, even though it looks like that, I just like extreme cars lol
12:37 - in MOST (I DON’T KNOW ABOUT ALL) states WITH A SALES TAX you DO have to pay sales tax. You just pay to DMV to register car, rather than to the dealer at the point of sale.
Yup. Here in NJ and PA you pay sales tax every time a car is sold, used or new
yes, texas is the same. even if you lie about how much you paid, they still have a 'taxable amount"
I'm a sales exec, employed, 250k net EOY income, 65K base with rest in commish. I got 5k exp/mo.
What would be a down i need to get to get into a Gallardo or a AMG GT ?
Up to 25% down payment 😢 I’ve had several exotics and the biggest issue on down payment is purchasing the right car that gives a depreciation curve that has flat lined. #exoticcarfinancing
You don’t have to pay sales tax?! Laugh my ass off wtf your sure af gunna pay sales tax when you go to register it. Lost all credibility
Its true I had a 800 score. I tried to buy a new Audi R8 and they wanted me to put 80k down.
9:27 yeah you can buy a super car a couple years old for 65k to get where you can finance a new one for 100+. ….
If that doesn’t set off your equity radar nothing will. 😂😂😂. Look at the price of it New then look at the price of the same one a couple years old. It tells you the truth.
I have had a lot of different cars the last few years, $560,000 in auto loans all paid for because I traded every 3 months for awhile. Credit is in high 7s income is just over 100k but my highest auto loan was a 2017 GT-R for 80k back when the market was good, everything else was around 60-65k. Think I can get an approval for something in the low 200s? Really want a Hurucan at the end of this year. Only thing on my credit right now is 3 rental properties.
Not with that income most likely. I was someone on the same boat with no big auto loans and only reason I got the 250k for mine was due to our income is over 300k and we have 6 figures in our saving account with them. They’re going to want to see at minimum 250k a year income to be even considered
Ok so lemme ask you this. I got a 2020 shelby gt500 $1285 a month, lets say i wanna keep my car for 18 months just making "one payment at a time" then i trade it in. And lets say the car i want is a $160K WITH TAX OR 220K with tax, audi R8 what are my odds of getting approved with 10-15k down. And yes everything else is thier
Odds are good
Most solid car buying information I found on TH-cam
Appreciate it. Thanks 😁👍
I would totaly by a lambo. if I didnt have a wife and kids lol
There’s definitely Kelly blue book for Aston Martin
Thanks for the information and guidance I definitely learned a lot. So now I know how to properly position myself. I appreciate
Thanks for watching 😁👍
Car insurance prices are pretty strange, especially the 25 year old's example at the end for $550/month on a GT350. I actually happened to have owned a GT350 as well and I was 24 years old at the time with 2 speeding tickets and the insurance was $130/month through state farm full coverage $500 deductibles. Pretty much all of the cars I've owned have been around that price including a 2009 Aston DB9 at $110 and a 2018 BMW M5 at $160, they also quoted me $260/month for a 2017 Ferrari F12. I also pay $400/year for an Aprilia Tuono, I mention that because I hear of people paying thousands for sport bikes. I have asked why my rates are low and the reps (super nice people btw) tell me that it's because I've never filed a claim. I'm sure insurance companies look at people's histories and driving habits differently. I still remember the days when my clapped out 1995 Dodge Dakota that I paid $2k for was costing me $200/month in insurance.
Sport bikes are like 50$ a month lol
Man thank you so much for this info! Finally someone speaking the truth!
Sub and liked!
Thanks for the sub!
How long should I keep the 100k auto loan before I'd qualify for 200? I usually don't keep cars longer than a year
6 to 9 months a year at most should work
Great content. Once the excitement is gone that bill stays the same got to do your home work. And it only makes sense if its bringing in dough!
💯
HI Lucky! Show me hoe to "DO EPIC SHIT" like you do, with a bridge loan.
Can I go from a Tesla Model Y up to a Model X in 6 to 9 months?
Yes sir
Im sure the bank will give a $250k loan for a Ferrari with a 620 credit score….
We'll never finance another car ever a Illegal banking system in this country is crazy !!!! If you want a highline car save the money and go pay cash!!!!
I work as a loan officer for a local DFW credit union, this guy knows his shit lmfao
Thanks 😁. I used to have a loan for a vette with you back in the day. How’s the lending now with all the stimulus ballers. Do
You have a cap on amount financed?
I'm in Dallas, how are your rates?
Currently self employed….I tend to write off a lot of stuff so at the end of the year I pay very little or nothing in taxes, should I stop doing that so if they look at my taxes it shows I made profit ?
yea you need to dor a couole of years till you get everything you need under your name then lower your tax
I bought a Maybach. 6 months ago so i can get a Rolls Royce Ghost by Nov
AllL very true, I had to work my way up on loan values to finally get what I wanted. Some very good advice here.
😮... So much value.. 3 to 5 strategies to acquire exotic cars . Thank You!😊
II applied for financing for a new 2021 TRX. I've only ever taken out 3 loans for less than 10k each for my vehicles in the last 12 years because there were no new vehicles I ever wanted; was never late or defaulted on a payment. Even though with the monthly payment for the TRX and insurance would be around 12% of my monthly income (with no debt to my name), nobody will approve me for the amount I need even with me ready to put 25% down on it.
I wish I had known all of these tips years ago, back in 2016 when I first saw the TRX concept, I knew that I wanted one and now that it's out, I can't get it.
You can try pen Fed
@@LuckyLopez777 I'll definitely try PenFed. I'm just not sure weather it'd be a smart move to try now, or in a couple of months since my credit got pulled from a couple of places when I was shopping around for financing.
@@Cronus577 dispute the inquiries if you never authorize other banks to see your credit! I do credit repair and this is one way of getting them removed. Basically if they don’t have a loan attached it is easy to get removed. The banks need to have a signature that you authorized them to lookin at your current credit report. Hope this helps.
@@thelordwillprovide911 where do you go to dispute these inquiries?
@@fluffythenut4615 call the three credit reporting agencies.. and/or ask them to remove them. Or ask them to verify them !
I’m just trying to get a 10k loan with bad credit 😒
That’s a very good reasonable number if you can get two to $3000 down and if you have a job for at least six months and you got to have some sort of positive credit so go take to $300 go get a secured credit card and 90% of subprime banks will get you a car you may have to pick something normal like a Kia optima Ford focus Honda Civic but just get started and then every six months refinance it and every year keep upgrading
LMFAO
If you borrow 100k + you better be mowing some grass. 100k car is a cash money or don't do it yet.
A professional car flipper or something ... Lol.....I think I know of who you may be talking about lol.... ECH 🤔🤫😎
Can i ask u 2 questions?
(Subscribed)
A few minutes into your video and I can tell you’re sincere about the information you have shared. Idk why exotic cars came up on my feed, but what is your take on using the exotic vehicle as a rental. I’m curious because I’m always down to invest but I feel like it’ll be a lot more expensive than other avenues
Watch Ryan Pineda's video interviewing the owner of Royalty Exotic Cars
I want to get a 100k to buy my Dream Car a gold plated Toyota Pruis
light stream offer up to 100k.. any other companies offer up to 200k
I love my car I only spent $5000. dont need 100k car
I love my car I only spent $5000. dont need 100k car
I want to get a 100k to buy my Dream Car a gold plated Toyota Pruis
I’m 20 years old and want an m4. I got a 768 credit score, I have 20k equity in my current car lots of credit card experience for my age. About to go risk it all for this m4
Check your insurance price first when I was 19 I got a M3. The insurance was more than the payment lol
I would never buy a depreciating asset
I bought a Maybach. 6 months ago so i can get a Rolls Royce Ghost by Nov
What if I can produce physical assets. If I had more liquidity cash wouldn't be a issue. Credit is shit 6 something never kept accounts long enough to build credit. How would I or can I use my assets to leverage purchase?
if you have assets Home or Investment portfolio. you can always go to your bank or broker and. borrow against them for a low rate to pay cash for the car or get a Business LOC and Collatralize the loan with your assets
Subscribed from Spencer! I want to have a rental company and I want to learn EVERYTHING from you! Time to binge watch!
Welcome to the Automotive Life family 😁👍
I have a 6 month old auto loan for 120k can i go for 250k next year?
I show $170k-$190k a year on my taxes with stubs I'm a CEO, I recently went through a divorce my credit is shitty, 640-670 credit score, zero debt other than mortgage and have 40k down maybe more. I'm gonna be in the market next year. let me know if this is possible.
Do you do consulting?
Yes I do. email me at. Lucky@automotivelife.com
Great stuffs Man! Thanks....
Thanks for watching 😁
Does this count towards RV Loan around $180,000?
I have a auto loan paid in 1yr for 24k. what can i get?
How much should i put down on a $220k car car if I only financed a 60k car
I sold 3 of my cars in the last week 45k 20k and 34k so total about 100k in auto loans paid my current score is 785 but the auto loans didn’t show up yet I want to get a Tesla about 90k you think it’s worth trying?
If you want a Tesla. You can try on capital ones website they do a soft pull on Trans Union won’t affect your score
I was trying to get loans for business dealer the bank said I need to have experience two years of business and income to get loans but I’m new dealer with no experience business before.
A lot of banks do not like dealerships it’s extremely hard to get a loan for a dealership you can get lines of credit once you’re operating there’s a bunch of things you have to do before you apply for credit if you’re serious about it set up a call we can tell you how to go through it
I love my car I only spent $5000. dont need 100k car
You don’t need a $100-300k To get a fun car. I have a $2000 Miata I drive like crazy
10k likes and only 3 dislikes?? i never seen this before..how its possible? lol
3 people don’t like me 🤣
@@LuckyLopez777 i mean its very good results...good job..and video was very interesting ... even i will never finance car like that(i d rather buy a few cheaper ones for cash)
Laughs in air cooled porsche depreciation
100%.
I can wait to buy my first supercar
This video is horrible financial advice that’s foundation is built on anecdotal evidence
I have never heard of NOT paying sales tax because its a 'private' sale. When you register it the DMV will ask for paperwork stating what you paid, at the dealer its usually included in the total like the cost of the vehicle + sales tax, title, etc.
How much should i put down on a $220k car car if I only financed a 60k car
You still gotta pay taxes from person to person, Specially here in Florida... When you do a Title transfer, that's when they are going to shove the lead pipe up the butt.....unless the private seller signs on the title that he sold it for less.....$100k purchase is $7,000 bucks in taxes at 7%. The only good thing about person to person is not having all those fees, but you may end up with a piece of shit exotic car...unless you bring an inspector.
That’s sucks I know if you states that you have to still pay tax from private party at least in Nevada if it’s private party no sales tax.
Thnx bro!!!!!
Welcome 👍
Yay I'm an amazing viewer
What Banks will give approvals ?
What if youre not required to pay taxes but make 200k a year? Because thats me. I dont have to report income due to my work. I can only prove income by bank statements and by check stubs from the federal government.
WOW!!!! You just dropped knowledge on us. Bravo!!!!
I have a 6 month old auto loan for 120k can i go for 250k next year?
I will keep it for at least another six months and when you purchase your next vehicle try to do 2017 or newer with $50,000 down it should be pretty easy I would definitely go to PenFed first and get pre approved
Exotic Cars Fun to drive hard to pay for lol
Very true.....they will look at the most expensive car you financed and paid off.....I went from 30, 40, 50, and now 60k and seriously doubt they would sign off for 100k.........70-75k max
Same when you get a loan thru a CU....you get a not to exceed amount on the draft.....everyone has a "tap out" limit
Well not everyone but us mere mortals
You would have to come up with enough DP to match your limit I am guessing
What Banks will give approvals ?
Exotic Cars Fun to drive hard to pay for lol
What Banks will give approvals ?
Im only here for Jokes
Can you link that lav mic, sounds great
its the Rode Mic 2. its a great mic
www.amazon.com/Rode-Microphones-Wireless-Transmitter-Microphone/dp/B07Y3VC994/ref=sr_1_11?crid=MBGK2YJTH0WT&dchild=1&keywords=rode+microphone&qid=1612972601&sprefix=rode%2Caps%2C219&sr=8-11
Yo this great stuff...
I have a auto loan paid in 1yr for 24k. what can i get?
Depending on credit but I would got for a 40-60k car next
I have a auto loan paid in 1yr for 24k. what can i get?
Next Jump would be a 40-55k loan.
Great videos. I watch all your videos. Any idea what are the current rates for new Lamborghini with over 20% down? I know you said you have a Tecnica on order. Mine is due to arrive in November. Where would you recommend to sell my used Lamborghini with 550 miles. It is a Fluo Capsule matte green.
Im only here for Jokes
How can i get a loan on a salvage car
only had car loans for 35k
If you can afford it Dont do it
Damn I wonder how much you have to put down on a new Bugatti
Damn I wonder how much you have to put down on a new Bugatti
How do I get A business auto loan
whats a paymnt on $300k car
In the video you mention "purchase from a private party" does not require sales tax. Can you please explain this more? I thought (US) states require proof of sales tax for registration.
Depending on what state you live in some states do not collect private sales tax from individuals
@@LuckyLopez777 but most do
That don’t work in California
Penfed only does 100k max. Navy Federal does 500k max. I've been member with each over 20 years. First exotic was Navy and they sent check for 135k. Simple process. No income verification at all.
I love Navy Fed all my loans are from them
@@Gunterforever no, because they will make the check out to who you are buying the vehicle from. They dont put your name on the check.
@@honor4thoseb471 ok so have my girl create an llc?! An act like she is selling a car an deposit it into her account 🤔lmaoo
@@Gunterforever what? They will still NEED the title to the vehicle since they own the car until its paid off.
@@honor4thoseb471 nope, it will turn into personal once they don’t receive the title in 90 days
How can i get a loan on a salvage car
only had car loans for 35k
I have a Repo 2 yrs ago can i still get a loan now with 740
I would recommend paying a company to see if they can clear off your repo get as many secured credit cards or regular credit cards as you can I always recommend having at least 10 so this way you have that many more items are putting your credit to jump your score up much faster and quicker
Exotic Cars Fun to drive hard to pay for lol
100%
I want to get a Classic Car?
Its true I had a 800 score. I tried to buy a new Audi R8 and they wanted me to put 80k down.
Didn’t have any big tradelines huh?
Damn I wonder how much you have to put down on a new Bugatti
How can i get a loan on a salvage car
So people actually get auto loans for cars that expensive? 😐
100k to 2mill
From this video.. I can't understand why a loan if you can easily save up money if you can afford an exotic loan..
Its true I had a 800 tried to buy a new Audi R8 and they wanted me to put 80k down.
A lot of people get told that. I’m getting my next R8 in 3 months.
Exotic Cars Fun to drive hard to pay for lol
So true lol
Exotic Cars Fun to drive hard to pay for lol
Facts 🙌 💯
Great content. I am purchasing a new C8 Z06 and i was gonna go through llc in Montana to save sales tax but dealership is saying i cant?? Are they able to do this? Any advice would be greatly appreciated. TY
Whats Your IG