5 yr financing for 5 yr old car?
03-11-2010, 03:12 PM
#1
5 yr financing for 5 yr old car? hey guys i was wondering if anybody knew if it would be hard for me and my fiance to get a 2005 C6 Corvette from a dealership & for them to finance it for 5 yrs? would it be hard for them to go that long on an 05? or would a bank even go that long for us? please let me know. oh and our cosigner has good credit which really doesnt mean much with the economy the way it is. but let me know thank in advance.
03-11-2010, 03:16 PM
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The only thing that would stop you is credit rating, not age. 5 years on a 5 year old car should be no problem. I did 5 years on a 6 year old car once.
03-11-2010, 07:07 PM
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Depends on the bank and their guidelines. I work for one of the largest banks and they only will finance cars 5yrs old or less. Also they will only finance for 48 months max on a 5yr old car. There are some out there that will finance older cars but you just have to look around. Things have changed ALOT in the past few years so finding a loan on an older car is going to be tough. 2005 isn't very old so you shouldn't have a problem as long as credit is good.
