roastin240

iTrader: (13)

I am looking at picking up a nice s10 w/ a LS1 swap, low miles ~50,000 on truck. The issue I am running into is I cannot find a used auto loan for a vehicle older then 10 years. This vehicle is a 2001 so I missed it by a couple years. Any input as to where I can go for this?

This HAS to be possible to accomplish right?

04qsgtoMA

iTrader: (5)

Personal loan or look for a bank that specializes in classic car loans and such. Im pretty sure those are your only 2 options.

Orange99Z

iTrader: (25)

I use a credit union. Seems I can get a loan for anything. Just got $4k for a 2000 ZR2 Blazer. Years ago I got a small loan for a tpi Formula when it was 15 years old. They won't loan more than their book value of the vehicle though. And the loans for older vehicles are shorter term; they only allow 4 years instead of 5or6 like on a new car.

roastin240

iTrader: (13)

Good call on the classic car loan approach. I just applied to 2 different places. Also going to contact a couple local credit unions this morning and see whats up. There is no reason a bank I choose has to be local to me correct?

LSnights09

+1 on the Credit Unions. They are typically more people friendly and offer much better interest rates on their loans. You shouldn't have trouble with them. Some even offer vehicle insurance along with the loan, so you get the complete package.

SuperSport4life

iTrader: (7)

+1 for credit unions, I have always got all my auto loans through them they are the best!

CamaroSS621

iTrader: (16)

Where do you live? my credit union is crazy. they will literally finance anything as long as there is a kelly blue book. cars, bikes, boats, Rvs, doesnt matter if its a 2014 or a 1974... and they give 130% OVER KBB SUGGESTED RETAIL VALUE!

cdgreg

iTrader: (5)

As others said most large scale banks are looking more at their investment and how they are going to make money off it. Hypothetical numbers, but if you are asking for $6000 when the truck blue books at $4500 and you wreck it tomorrow they know how much the insurance company is going to give you and now they see a client with no collateral and a remaining balance. At this point you could just not pay the balance, file bankruptcy, and they lose out.

Also don't go too nuts with applying for loans all over the place, it will dip your credit score, have conversations with a representative, if they believe it is realistic then apply, otherwise you're just hurting your ability to be financed.

68BBChevelle

iTrader: (12)

Wow! Which credit union is that?

deerslayinrednek

iTrader: (8)

Try smaller local banks, I have good luck with mine

CamaroSS621

iTrader: (16)

psecu. but you have to live in pa to qaulify. lol