Loans on Older Cars

[jasontiff]

Hey, guys!

When I pulled my loan for my 1993 2 years ago, Eloan said "with good credit you can finance anything" whereas the other 2 lenders had age stipulations on the vehicle (at the time 2002 and newer). Does anyone know of a bank/credit union that will lend on an older car?

Reason being I have a buyer for my car but Eloan is outsourcing to Lending Tree now and they won't do an older car. He's trying to find someone that will lend him the money and is running out of options. Has anyone financed an older car recently, or am I the only dude around these parts that went the lending route? Thanks in advance!

 

[Gottaviper]

Try JJBESTBANC co. They are out of Chatham Ma and will loan on almost anything. I financed my 94 back in 2004 with them. Goolge them and call them. They are easy to deal with and at the time I got 8.99% for 72 mo on a 10 year old car not to bad. Good luck

 

[TAXIMAN1]

The world of auto financing has changed forever.. Take what ever deals were out there 3 years ago, and pretend they never existed. Financing that car will be tough. JJ Best will want 20% down, and OUTSTANDING credit, and very little outstanding debt.

 

[jasontiff]

I think my guy can swing the $5k for that. I've passed along all this information. Thanks, guys!

 

[Warfang]

I think my guy can swing the $5k for that. I've passed along all this information. Thanks, guys!

let us know how it goes.

 

[AZMotorgod]

Jason,

For what it is worth I just purchased my '96 GTS last month through a local Credit Union here in the Phoenix area. The rate was 7.99% and their only stipulation was that they would only finance up to 80% of the value of the vehicle based on the Kelly Blue Book "Private Party- Good Condition". If there are any credit unions in your area they may be worth a try. Good Luck!

 

[TAXIMAN1]

I think my guy can swing the $5k for that. I've passed along all this information. Thanks, guys!

Well, He is financing a -$30k car... So, I wasnt sure...

Give it a shot, the worst they can say is no...

 

[darkostoj]

www.penfed.org 3.99%

 

[Stretch]

www.penfed.org 3.99%

I 2nd that, they were great to deal with in my opinion.

 

[94RT10Ohio]

Join a Credit Union. Almost all will finance anything. Mine requires an appraisal, which makes sense, older cars have a wide range of value.

 

[Sweet Ride]

I financed through:

Summit Credit Union - Do More. Start Here. - Madison, Wisconsin - Summit CU - SCU - American Parkway, Baraboo, ****** Dam, Call Center, City Station, Downtown, Fitchburg, Hill Farms, Journal, Lake Mills, Madison WI, Milwaukee, Old Sauk, Sun Prairie,

Most credit unions are still good for loans on "older" cars.

 

[dave6666]

I'd look into the Bank of Cash for a discretionary purchase like a sports car.

 

[SkyBob]

EDIT : Sorry everybody. I didn't realize I just responded to a post from six months ago.

For what it's worth, it was a very clever and funny reply to Dave6666's post, but I decided to kill it.

 

[jdeft1]

Darn, should have left it up... Afterall, here I am ready to read it....