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Author
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Topic: Auto loan
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blackfifty
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Member # 9023
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posted
 
 
I want to apply for a car loan and was wondering where the best place to apply would be. I have a good amount for a downpayment but supposudly in this economy my credit history is short.
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03 Terminator
Posts: 1331 | From: Oakland | Registered: Mar 2009
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Rigo5.0
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Member # 5247
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Credit Union.
My girl just got one for a car she purchased. This expecially if your buying a "new" but used car.
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91 5.0 [331|T56]
87 Grand National
02 Z06
08 Challenger SRT8
13 Shelby GT500
00 Lightning
14 Camaro SS
Posts: 1454 | From: Kansas City | Registered: Jan 2005
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venomous99
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Member # 1917
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credit union is the way to go unless you can get one of those incentive deals from the dealer where u can get low to zero interest.
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MKII Q7
89LX
Posts: 4811 | From: dc | Registered: Oct 2002
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t top freak
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Member # 6269
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posted
golden one is always good.
ill be going through them again shortly ![[patriot]](graemlins/patriot.gif)
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1994 cobra - sold!
1986 t top gt - parted out and sold!
on the hunt for another
Posts: 1023 | From: sacramento | Registered: Dec 2005
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essasin
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Member # 4741
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posted
I'm locked in at 4.5% at Golden 1.
Posts: 2402 | Registered: Jul 2004
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Gnari-Garage
CAFords OG
Member # 3164
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posted
Credit unions are the best if you have good credit! For people with short credit, just go to the dealer were you want to buy your car and they have banks that take anyone with a good down payment!
Remember with bad credit the banks will only finance you up to the wholesale value of the car! Just something to think about.
if you want to buy one privatly, I would try Wachovia (wellsfargo) Finance and thrift, chase bank, Americredit, Fireside just search around your area, I'm sure there are more but I can't think of any right now.
Good luck
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2017 McLaren 570GT
2019 Audi S5
2017 Tundra 7" Lift, 37" Tires
Posts: 4017 | From: 916-sacramento | Registered: Aug 2003
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Blind
2.3L
CAFords OG
Member # 3052
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I just used a credit union for my truck purchase, they proapproved me for anything 2002 and newer, with under 100k miles, it was a very easy process.
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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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Thanks for all the the advice I'm actually looking to buy a used car from a private owner possibly because I don't wan to pay for the extra charges a dealer will gave, but what will b the best possibility?
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03 Terminator
Posts: 1331 | From: Oakland | Registered: Mar 2009
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blackfifty
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Member # 9023
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posted
Hey blind what credit union did you use and did they ask for the pink slip of the car you were purchasing.
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03 Terminator
Posts: 1331 | From: Oakland | Registered: Mar 2009
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Blind
2.3L
CAFords OG
Member # 3052
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posted
quote:
Originally posted by blackfifty:
Hey blind what credit union did you use and did they ask for the pink slip of the car you were purchasing.
Pacific oaks federal credit union, and yes they hold the title until the loan is paid off.
I had the option to buy private party or dealer, there was no difference in the rates or limits.
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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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cobraracer46
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Member # 1142
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posted
Sucking the dicks of the banks and car dealers for the rest of your life by messing around with car payments is foolish so if you dont have the cash in the bank to buy the vehicle outright, then you cant afford it.
The 100% down payment plan is always the best way to go, no payments.
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2001 SVT cobra convertible with a Viper T56, Fikse wheels, Griggs frame kit, roll bar, Vortech, 4:30 gears, brembo GT brakes and more.
Posts: 1172 | From: Woodside California | Registered: Apr 2002
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Blind
2.3L
CAFords OG
Member # 3052
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posted
quote:
Originally posted by cobraracer46:
Sucking the dicks of the banks and car dealers for the rest of your life by messing around with car payments is foolish so if you dont have the cash in the bank to buy the vehicle outright, then you cant afford it.
The 100% down payment plan is always the best way to go, no payments.
I have the cash in the bank earning me more interest than the car note, and I'm building my credit history so I can buy a house next year. Even with my 720 fico score, since I've never had a car loan or a credit card with higher than a $5k limit I can't buy a house right now even though I could easily afford to, so I bought a car and will just pay it off in 1 year.
Sucks to have to play around with this credit bullshit to buy a home.
My 100% cash style in the past is slowing down my ability to live the way I want, fwiw.
[ November 30, 2009, 07:01 PM: Message edited by: Blind ]
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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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cobraracer46
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Member # 1142
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posted
quote:
Originally posted by Blind:
quote:
Originally posted by cobraracer46:
Sucking the dicks of the banks and car dealers for the rest of your life by messing around with car payments is foolish so if you dont have the cash in the bank to buy the vehicle outright, then you cant afford it.
The 100% down payment plan is always the best way to go, no payments.
I have the cash in the bank earning me more interest than the car note, and I'm building my credit history so I can buy a house next year.
One problem with financing a new vehicle is that it is comparable to flushing money down the toilet. As an example say you bought and financed a brand new mustang Mach 1 way back in 2003 for $28000 and then you fast forward to today and find out that the car is only worth $10000!
I refuse to get bitten in the ass financially with my car hobby so every last one of my Automotive purchases are done in cash for something used.
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2001 SVT cobra convertible with a Viper T56, Fikse wheels, Griggs frame kit, roll bar, Vortech, 4:30 gears, brembo GT brakes and more.
Posts: 1172 | From: Woodside California | Registered: Apr 2002
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Blind
2.3L
CAFords OG
Member # 3052
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posted
quote:
Originally posted by cobraracer46:
quote:
Originally posted by Blind:
quote:
Originally posted by cobraracer46:
Sucking the dicks of the banks and car dealers for the rest of your life by messing around with car payments is foolish so if you dont have the cash in the bank to buy the vehicle outright, then you cant afford it.
The 100% down payment plan is always the best way to go, no payments.
I have the cash in the bank earning me more interest than the car note, and I'm building my credit history so I can buy a house next year.
One problem with financing a new vehicle is that it is comparable to flushing money down the toilet. As an example say you bought and financed a brand new mustang Mach 1 way back in 2003 for $28000 and then you fast forward to today and find out that the car is only worth $10000!
I refuse to get bitten in the ass financially with my car hobby so every last one of my Automotive purchases are done in cash for something used.
ok, but I, and the person of interest in this thread here is buying used, already depreciated cars.
Do you have trouble with reading comprehension all the time, or just selectively?
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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 am in the same boat as Blind I want to establish more credit like that and plus I'm buying a used car and not asking for a ridiculous amount of money to borrow plus I'll probably have thr loan paid off in about 16 months
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03 Terminator
Posts: 1331 | From: Oakland | Registered: Mar 2009
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SLOWBACK 67
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Member # 6348
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posted
quote:
Originally posted by cobraracer46:
Sucking the dicks of the banks and car dealers for the rest of your life by messing around with car payments is foolish so if you dont have the cash in the bank to buy the vehicle outright, then you cant afford it.
The 100% down payment plan is always the best way to go, no payments.
Sooooo you paid cash for your cobra? Did you buy it new?
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Originally posted by turbo50:
I have no intenions of keeping anyones parts or taking anyones money.
Posts: 8582 | From: Vallejo | Registered: Dec 2005
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SteveL
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Member # 1241
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posted
quote:
Originally posted by cobraracer46:
The 100% down payment plan is always the best way to go, no payments.
That's not necessarily true.
For example, if the auto maker is offering 0% interest loans, you're better off putting the money in a savings or CD account and paying off the loan monthly. Of course the key is the use the saved money for paying off the loan over time and not use it for something else.
Posts: 578 | From: San Jose, CA | Registered: May 2002
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