financing a car over 10 years old...

[twastheglow]

Does anyone know of any banks that will offer financing for a 1997 vehicle? I'm having a hard time finding one as everyone I spoken to only go back 10 years @ most.

[Schepis]

Originally Posted by twastheglow

Does anyone know of any banks that will offer financing for a 1997 vehicle? I'm having a hard time finding one as everyone I spoken to only go back 10 years @ most.

Most likely your only option will be a personal loan. The interest rate is higher, but you also won't have to put full coverage on it..

[11secdsm]

Local Credit Union. Also check e-loan and Cap One.

[twastheglow]

Originally Posted by Schepis

Most likely your only option will be a personal loan. The interest rate is higher, but you also won't have to put full coverage on it..

To be honest with you, I have great credit (740 as of the purchase of my house in August), but I have too much $$ in unsecured loans right now (buying **** for my house) to get a personal loan through my local credit union that I do business with. So it would have to be an auto loan, but thanks a lot for the input. I'm also not concerned with the interest rate as the loan will be paid off once I sell my Nissan. Also, insurance isn't an issue since I was planning on having full coverage...not to mention I sell auto insurance for a living.

Originally Posted by 11secdsm

Local Credit Union. Also check e-loan and Cap One.

As I already mentioned, my local CU is out. They only go back 10 years anyway.

Do you know if this "e-loan place or Capital One definately finance cars that age?

[twastheglow]

Capital One's out...no older than 7 years old.

[11secdsm]

Originally Posted by twastheglow

To be honest with you, I have great credit (740 as of the purchase of my house in August), but I have too much $$ in unsecured loans right now (buying **** for my house) to get a personal loan through my local credit union that I do business with. So it would have to be an auto loan, but thanks a lot for the input. I'm also not concerned with the interest rate as the loan will be paid off once I sell my Nissan. Also, insurance isn't an issue since I was planning on having full coverage...not to mention I sell auto insurance for a living.



As I already mentioned, my local CU is out. They only go back 10 years anyway.

Do you know if this "e-loan place or Capital One definately finance cars that age?

Cap One used to...I guess this credit fiasco killed that. E-Loan doesn't take into account the vehicle you're purchasing...they just loan you what you're worth based on credit.

[mcperson2k]

Personal loan!

[twastheglow]

Originally Posted by 11secdsm

Cap One used to...I guess this credit fiasco killed that. E-Loan doesn't take into account the vehicle you're purchasing...they just loan you what you're worth based on credit.

Is it just e-loan.com or what? And is it an auto loan or a personal loan? I'll have to check that out.

[11secdsm]

http://www.eloan.com/ It's an auto loan. I used them back in the day as did a buyer of one of my cars. They basically send you a blank check good up to a set amount (loan approval amount). You then write it out to whom ever you want for whatever you'd like up to that amount.

[twastheglow]

Originally Posted by 11secdsm

http://www.eloan.com/ It's an auto loan. I used them back in the day as did a buyer of one of my cars. They basically send you a blank check good up to a set amount (loan approval amount). You then write it out to whom ever you want for whatever you'd like up to that amount.

I couldn't find a place where it says they have a year cut-off. How many years old was your car at the time?

[twastheglow]

So I filled out the application online and got an e-mail with an approval for what I want (that isn't the problem), but it never asked about the car I want financing for. I'm just concerned they won't when they find out it's a '97 with 94k miles. I'm going to have to call them tomorrow morning I guess. 12 year old cars ftl.

[DPancoast]

good luck Mike! What are you looking at?

[twastheglow]

Originally Posted by DPancoast

good luck Mike! What are you looking at?

A second owner, adult owned, bone stock e36 M3 coupe.

[DPancoast]

saaaaaweeeeeeeeeeeeet....

good luck man!

[twastheglow]

Originally Posted by DPancoast

saaaaaweeeeeeeeeeeeet....

good luck man!

Thanks. But the problem is I can't buy it outright until I sell my Nissan. So I'm trying to finance it then pay off the loan with the car $$. But financing a '97 is more difficult than I thought it would be.

[11secdsm]

PM sent Mike.

[DPancoast]

Originally Posted by twastheglow

Thanks. But the problem is I can't buy it outright until I sell my Nissan. So I'm trying to finance it then pay off the loan with the car $$. But financing a '97 is more difficult than I thought it would be.

yeah I hear ya man, but you'll work it out...

although you're dealing with more money than I was... I thought I HAD to sell my red MR2 to buy the blue one... figured out later that I would have been just as deep in the hole either way lol...

but I have it under control now.

[twastheglow]

Originally Posted by 11secdsm

PM sent Mike.

Thanks for the info! I PM'd you back.

Originally Posted by DPancoast

yeah I hear ya man, but you'll work it out...

although you're dealing with more money than I was... I thought I HAD to sell my red MR2 to buy the blue one... figured out later that I would have been just as deep in the hole either way lol...

but I have it under control now.

It's good to be in control. That's why I always pitch. lol

[DPancoast]

hahahaha

you know...


you could just sell yourself to me....

I MEAN

UH

WHAT























no homo


























?

[twastheglow]

Originally Posted by DPancoast

hahahaha

you know...


you could just sell yourself to me....

I MEAN

UH

WHAT























no homo


























?

PM what you're willing to pay...I've been working out lately...lifting some Campbell's soup cans daily.