loan for 7 year old car...
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loan for 7 year old car...
in my pursuit for a 2002 ceta. someone told me banks/loan companies wont finance a used car at the age of 7 years.... any truth to this?
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If you have excellent credit then you can buy any car. Go to capitalone auto finance on line and fill out the app. They will have an answer for you immediately if you qualify. If approved they will fed-ex you a check the next day.Good luck.
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From what I've seen it's more like banks don't WANT to loan on a car older than 7 years. My bank will loan older than 7, but it's at 14.99% interest depending on the credit of course. But the best you could get was like 10.99%. If you go to a credit union they'll usually work with you pretty easily, especially with a good credit score and it being a dealership.
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I had no credit rating established and got a loan for my '01 at the beginning of this year from my local bank. It shouldn't be a problem for you either.
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not sure how it would work now with the credit card companies being more strict but when i bought my 95 T/A in 2004 i used a 3.99% check with no cash advance fee to finance my car. i wrote the check to myself for $6500 and paid the $6k in cash like the private seller wanted and then used the rest for taxes and licensing.
no lien on the car and the interest rate was pretty low for a 9 year old car.
no lien on the car and the interest rate was pretty low for a 9 year old car.
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Yeah I forgot to mention I had a co-signer. But the car's all paid for now. The bank was trying to tell me that they couldn't give me a loan for the ammount they were asking for the car because the could only give like 9500 for a Z28. I told them it was an SS and they said they didn't make an SS. I told them it was an optioned package. I had to get proof that it was an SS so they would give me a loan for the full ammount which was only 1000 more than the Z. I was pissed