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Author
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Topic: car bank loan advice
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Mr.10psi
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Member # 11062
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posted
 
 
hey fellas got a question. Does anyone have any good recommendation on who will give me a car loan for a car thats over 10 years old that I would want to buy. From what Ive heard is that banks dont like to give out loans for cars over ten years old. Loan would have to been above 15 grand up to 25 grand. The car is over 10 years old. Any advice or recommendations would be appreciated thanks.
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02 white saleen(sold) 347 stroker in the works
Posts: 1337 | From: 530 | Registered: Jul 2011
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flores24v
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Member # 10586
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posted
Golden 1, I've used them twice
Posts: 851 | From: Florida | Registered: Jan 2011
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351w
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Member # 11875
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posted
Since you asked for advice here it is, if you can't pay cash then maybe you shouldn't buy the car, good luck getting a decent interest rate if you are even able to find someone willing to give you a loan.
Posts: 1020 | From: 510 | Registered: Apr 2012
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ed650
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Member # 9897
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posted
Sounds like your trying to buy an 03 cobra
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410w Hatch
306Ci Coupe
Posts: 1744 | From: menlo park | Registered: Apr 2010
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GOT 50
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Member # 1960
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posted
Lightstream
Posts: 2139 | From: SF/DALY CITY/MILLBRAE | Registered: Oct 2002
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i
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Member # 12534
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posted
quote:
Originally posted by ed650:
Sounds like your trying to buy an 03 cobra
![[Eek!]](eek.gif)
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86 Caged Coupe 5.0
91 Salvaged Coupe
Posts: 1901 | From: Sacramento | Registered: Nov 2012
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68dustin
CAFords OG
Member # 5388
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posted
I have done all my car loans thru Travis credit union.. just bought a 04 truck for 18k with 3% interest. Most the time the bank will give u the loan, but they will only give u the amount that it blue books.
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"As I lay rubber down the street, I pray for traction that I can keep, and if I do begin to slide, please dear God protect me and my ride!"
Posts: 3991 | From: neverland | Registered: Feb 2005
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97cobra209
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Member # 11376
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posted
Yeah 25k for a 10 year old car is probably not going to happen like stated above what ever it's value is in the book that's all your going to get plus it will most likely come with a higher interest rate!
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2011 GT/CS 5.0
Posts: 872 | From: Stockton | Registered: Oct 2011
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Robb
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Member # 9444
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posted
My advice, Dont get a loan on a 10+ year old car. If you cant afford to pay it with cash, You shouldnt get it at all. Youll get raped with high interest.
Posts: 2467 | From: Sacramento,CA | Registered: Sep 2009
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4 CAM FOX
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Member # 11891
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posted
quote:
Originally posted by ed650:
Sounds like your trying to buy an 03 cobra
x2
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"The clutch is on the left. Gas on the right."
"What's this one in the middle?"
"It's for pussies."
Posts: 1798 | From: NOR*CAL | Registered: Apr 2012
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Boss 327
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Member # 9143
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posted
First Tech Credit Union.
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"You'll never truly understand building engines until you can make power N/A. FI overshadows an engines defficiency." Al Papito
Posts: 1789 | From: East Bay | Registered: May 2009
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68dustin
CAFords OG
Member # 5388
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posted
Nothing wrong with getting a loan... as long as your a responsible person and not be over your head.
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"As I lay rubber down the street, I pray for traction that I can keep, and if I do begin to slide, please dear God protect me and my ride!"
Posts: 3991 | From: neverland | Registered: Feb 2005
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flores24v
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Member # 10586
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posted
quote:
Originally posted by 135.0:
Get a co signer ![[Wink]](wink.gif)
Know anybody on here that will co-sign for me bruh?
Posts: 851 | From: Florida | Registered: Jan 2011
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1996 GT
I'm Joe Yates
Member # 4992
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posted
quote:
Originally posted by flores24v:
quote:
Originally posted by 135.0:
Get a co signer
Know anybody on here that will co-sign for me bruh?
I just paid my car loan off, I can help out cuZ.
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http://i.magaimg.net/img/257w.png
Posts: 9308 | Registered: Oct 2004
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*EPIK*
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Member # 7481
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posted
quote:
Originally posted by 68dustin:
Nothing wrong with getting a loan... as long as your a responsible person and not be over your head.
+1... I saw that reply from Robb, and no offense, but I think that's ridiculous. Even the best of us, and some very wealthy people get car loans, in fact, I'm sure 75% of the newer cars on the road are purchased with a car loan. As long as you can afford the payments, go for it! Car loans also are a big way to help build a good credit history. +1 on Travis credit union, I've had 3-4 loans with them.
[ 2015-06-03, 11:49 AM: Message edited by: *EPIK* ]
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=91 Notch:12.31@110 **Under Construction**
=05 CTS-V: 418rwhp/393rwtq=13.01@111
http://www.djepikmusic.com
Posts: 6966 | From: 916 | Registered: Mar 2007
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AL STOCK
Its All Stock
Cuzzon
Member # 1852
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posted
quote:
Originally posted by *EPIK*:
quote:
Originally posted by 68dustin:
Nothing wrong with getting a loan... as long as your a responsible person and not be over your head.
+1... I saw that reply from Robb, and no offense, but I think that's ridiculous. Even the best of us, and some very wealthy people get car loans, in fact, I'm sure 75% of the newer cars on the road are purchased with a car loan. As long as you can afford the payments, go for it! Car loans also are a big way to help build a good credit history. +1 on Travis credit union, I've had 3-4 loans with them.
+1
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.:: FANATICS ::.
93 Cobra Teal
93 Cobra V Red
90 SSP
SVT Raptor
Huracan Rosso Mars
E63s W213 Selenite Gray
C7Z M7 Daytona Sunrise
Posts: 6501 | From: San Bruno | Registered: Sep 2002
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Blind
2.3L
CAFords OG
Member # 3052
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posted
quote:
Originally posted by *EPIK*:
quote:
Originally posted by 68dustin:
Nothing wrong with getting a loan... as long as your a responsible person and not be over your head.
+1... I saw that reply from Robb, and no offense, but I think that's ridiculous. Even the best of us, and some very wealthy people get car loans, in fact, I'm sure 75% of the newer cars on the road are purchased with a car loan. As long as you can afford the payments, go for it! Car loans also are a big way to help build a good credit history. +1 on Travis credit union, I've had 3-4 loans with them.
choosing loan vs cash on my wifes new car last year was a no brainer. $30k financed at 1.69%...umm basically free money compared to my investment account, lol.
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89 LX Notchback ex 4cyl, 14psi
02 Harley F150, 15psi
Posts: 8521 | From: Fairfield | Registered: Jul 2003
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blackfifty
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Member # 9023
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posted
I got a loan from patelco and couldn't be happier. I got a 2.49 interest rate. I don't know about the ten year plus thing but I'm sure you can talk to them.
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03 Terminator
Posts: 1331 | From: Oakland | Registered: Mar 2009
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losbadgts
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Member # 4394
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posted
Im sure there is a lot of banks and credit union willing to give u the loan. The issue is how good your credit history is and how much of an interest u will get. To me it doesn't make any sense buying a 10+ car with high interest rate. So shop around
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Why pretent someone u are not, everyone else could see it.
Posts: 3625 | From: redwood city | Registered: Apr 2004
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POWERED BY FORD
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Member # 9204
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posted
quote:
Originally posted by Blind:
quote:
Originally posted by *EPIK*:
quote:
Originally posted by 68dustin:
Nothing wrong with getting a loan... as long as your a responsible person and not be over your head.
+1... I saw that reply from Robb, and no offense, but I think that's ridiculous. Even the best of us, and some very wealthy people get car loans, in fact, I'm sure 75% of the newer cars on the road are purchased with a car loan. As long as you can afford the payments, go for it! Car loans also are a big way to help build a good credit history. +1 on Travis credit union, I've had 3-4 loans with them.
choosing loan vs cash on my wifes new car last year was a no brainer. $30k financed at 1.69%...umm basically free money compared to my investment account, lol.
Yup, rather have the cash and get a loan with a low rate.
Posts: 2204 | Registered: May 2009
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Infamous5.0
CAFords OG
Member # 1745
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posted
quote:
Originally posted by TEXAS:
Since you asked for advice here it is, if you can't pay cash then maybe you shouldn't buy the car, good luck getting a decent interest rate if you are even able to find someone willing to give you a loan.
Calm down richy rich. He didn't ask for your advice.
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To be or not to be
Posts: 2340 | From: Bay Area | Registered: Aug 2002
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*EPIK*
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Member # 7481
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posted
quote:
Originally posted by TEXAS:
Since you asked for advice here it is, if you can't pay cash then maybe you shouldn't buy the car, good luck getting a decent interest rate if you are even able to find someone willing to give you a loan.
My bad Robb... This was the reply I was actually talking about...
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=91 Notch:12.31@110 **Under Construction**
=05 CTS-V: 418rwhp/393rwtq=13.01@111
http://www.djepikmusic.com
Posts: 6966 | From: 916 | Registered: Mar 2007
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92_5.0
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Member # 7624
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posted
I currently have a loan through Travis credit union on a 2003 Sierra with an APR below 8 percent. would have easily gotten a lower APR if I didn't already have another auto loan. (06' 3.99% APR Golden1 CU)
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Infineon/Sears point? same difference!
11.8 @ 115 mph @ Sac Raceway
411 rwhp 402 trq (old set up)
540 rwhp 517 rwtrq (new set up)
ET's to come
Posts: 1629 | From: bay area | Registered: May 2007
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FivePTSlow
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Member # 7682
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posted
Before getting a loan for my coyote, I was going to buy an 03 cobra. Golden 1 approved me, but the best they could do was 8.75% since the car was so old. They informed me I qualified for 1.9% for a newer car, that made the cobra vs coyote decision much easier for me.
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2011 GT/CS 5.0 + Boost(Procharger)
90 Bronco 5.8 Lifted
05 SRT-4 24PSI E-85 at least 50 million hp
07 Harley VROD NRS Stage 1
Posts: 1857 | From: Sacramento | Registered: May 2007
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