How did you finance your LS1
04-10-2008, 12:26 AM
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How did you finance your LS1 I am 19 years old and currently drive an 03 cobra. I am looking at trying to purchase a 01-02 SS or WS6 but am wondering how to get that type of vehicle financed. According to my credit union they can only finance 13k or so due to the KBB value. Any ideas as to how I can get 16K or so without having to put cash down?
04-10-2008, 12:31 AM
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Wait your 19, you have a cobra. Ok beyond that, try a dealership or banks.
I could not get a loan at 18 at all, now I'm 19 with one year of payments on my trans am. I was approved for a 32k car with 7.5% APR, not bad. My credit is in the 700's though.
Best of luck, try to use the APR's against other companies they might just lower it for you.
Or just keep the cobra and go 2.6 kenne bell.
I could not get a loan at 18 at all, now I'm 19 with one year of payments on my trans am. I was approved for a 32k car with 7.5% APR, not bad. My credit is in the 700's though.
Best of luck, try to use the APR's against other companies they might just lower it for you.
Or just keep the cobra and go 2.6 kenne bell.
04-10-2008, 04:52 AM
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Is the capitol one, "blank check" program an option? I believe my credit is right around 1690's the last time i checked, and I know my parents is phenomenal so would I have a problem using Capital One?
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04-10-2008, 06:33 AM
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are you getting rid of the cobra for an f-body, or are you getting an f-body in addition to the cobra?
if you're getting rid of the cobra for the f-body, then just sell the cobra and buy the f-body outright with the cash you make off the cobra....screw all that "payments" nonsense.......
you should be able to buy a nice, clean f-body with low miles and still have mod money left over for the price you could get for the cobra, assuming the cobra is clean as well (never wrecked, interior & exterior in good condition, etc.)
if you're getting rid of the cobra for the f-body, then just sell the cobra and buy the f-body outright with the cash you make off the cobra....screw all that "payments" nonsense.......
you should be able to buy a nice, clean f-body with low miles and still have mod money left over for the price you could get for the cobra, assuming the cobra is clean as well (never wrecked, interior & exterior in good condition, etc.)
04-10-2008, 09:09 AM
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yeah I'm looking to get an fbody in place of the cobra. Unfortunately I'm not really going to make any substantial cash off the cobra so I'm looking at financing the full amount of the SS or WS6. I'm gonna give capital one a call and see if they can give me a loan even if the KBB value is less than what I'm paying for the car.
04-10-2008, 03:47 PM
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I think what he is saying guys is if he sells the cobra, he still needs to pay that loan off. then the rest is what he will be able to put down on the T/A. How much more do you owe on the cobra???
04-11-2008, 09:00 AM
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lol yeah..i just noticed that typo. Although a 1700 credit rating would be sick! I talked to Capital One and asked them that although the car may Blue Book at 13K if I would be able to take a loan out for 15k to cover the taxes and he said that I could do that as long as my credit supports it. I figured I would file a joint application with my father to improve the chances of getting it. SVT-- no more...FBody-- here i come!!
04-11-2008, 09:16 AM
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yeah I bought my Z at the age of 20 last year. they just asked me how much money I wanted and approved me at USAA lol. They saw my credit score was 720 and instantly accepted. I payed 11.5 for mine, why are you trying to get 16k? you looking to get a very low mileage 01 or 02 in perfect condition?
04-11-2008, 09:16 AM
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i am surprised you hate the cobra that much. Maybe its the IRS that people hate and the fact that they are so slow stock. get a pulley and tune and it'll be litte more fun. fbodys are cheaper, but cobras are cheap to mod.. why the change of heart just curious? sounds like you just got the cobra not long ago..