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Thread: PSL finance rate

  1. #1
    Undrafted Free Agent
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    PSL finance rate

    Have the finance rates on the PSL's always been 6.5% and 8%? Have they ever offered a lower rate or even 05? Thinking of upgrading my psl's and if they go 0% I can without a change in my yearly payment.

  2. #2
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    Call the ticket office tomorrow morning and they'll give you the latest rates. It's also possible to take out a personal loan with any bank and use that money towards the PSL purchase. So if your credit rating is strong enough to command that kind of number from the outside, consider going that route.

    SAR I

  3. #3
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    Quote Originally Posted by bobr68 View Post
    Have the finance rates on the PSL's always been 6.5% and 8%? Have they ever offered a lower rate or even 05? Thinking of upgrading my psl's and if they go 0% I can without a change in my yearly payment.
    Not sure, but I think the always were those rates.

  4. #4
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    Quote Originally Posted by bobr68 View Post
    Have the finance rates on the PSL's always been 6.5% and 8%? Have they ever offered a lower rate or even 05? Thinking of upgrading my psl's and if they go 0% I can without a change in my yearly payment.
    wait so psl holders who are financing psls are paying interest of 6.5% and 8% for 15 years...... investment gold.

  5. #5
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    Per Jets sales reps a couple of years ago: these were the rates that the Jets were required to set for those who chose to finance their PSLs under the terms of the Stadium financing agreement. In other words, the banks that ponied up the loans for the construction required the team to set specific rates as a condition of financing. Those rates were over the market rate from day 1. But, they are unsecured loans and nobody got a credit check. Basically, any unemployed dude with only enough for the 10% down payment would have been financed by the Jets. I guess the over-the-market rate was prescribed to somewhat compensate for the many defaults that were inevitable. 2 reasons for defaults: 1. fans changing their minds and walking away and 2. Fans who have terrible credit and should never have been given any such loan by the Jets.

    Frankly, the way both the Jets and Giants offered financing was absurd. Without credit checks and income requirements, both were practically assured of getting defaults. The extra mark-up on financing rates probably is some sort of built in compensation for the anticipated defaults.

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