How many of you got your car with a personal loan?
10-25-2006, 10:44 AM
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How many of you got your car with a personal loan? I am thinking about getting an ls1 car again, but since they are old i don't think the bank will do an auto loan. I think they are going to have me do a personal loan. How many of you all here are doing a personal loan on your lsx based car? What are the payments? interest rate? length?
10-25-2006, 11:02 AM
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I went through Capital One, and they did a something a little different. They send you a blank check up the approved amount, and there is no lien or anything on the car. I still owe on the car, but I have the title in my hands and everything. And this was on a 5.5% interest rate. If I were to sell the car, it would be just like paying on a personal loan after that. And you don't have to keep full coverage insurance, so it really is more like a personal loan than anything.
10-25-2006, 11:16 AM
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key bank was an auto loan, i belive the will give as low as 7/5 % for upto 72 months with good credit, but i woudl check witht hem for details. they turned the laon aroudn for me in just a few hours, it was a very pleasurabel expereience. plus the will finance 100% of the vehicle value which may or may not matter to you. capital one i believe atleast when i looked will only give used vehicle loans when goign through a stealership.
Goodluck on the purchase.
Goodluck on the purchase.
10-25-2006, 11:21 AM
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I used Capitol One for my 97 Civic with 105k miles earlier this year and they did the blank check for $7500 cause that was the cheapest car loan they do even if you pay less for the car. I got 10% for 48 months and only a $200 payment.
PS - I am selling my 98 Z28 for $7800, hmm sounds like your kinda deal. :yup:
PS - I am selling my 98 Z28 for $7800, hmm sounds like your kinda deal. :yup:
10-25-2006, 11:29 AM
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Originally Posted by ss427ci
I used Capitol One for my 97 Civic with 105k miles earlier this year and they did the blank check for $7500 cause that was the cheapest car loan they do even if you pay less for the car. I got 10% for 48 months and only a $200 payment.
PS - I am selling my 98 Z28 for $7800, hmm sounds like your kinda deal. :yup:
PS - I am selling my 98 Z28 for $7800, hmm sounds like your kinda deal. :yup:
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10-26-2006, 08:03 AM
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I got a personal loan through my bank for 8500, 6500 for the car and the rest to fix crap that might go wrong...and things went wrong alright..
I got 8.0% interest rates for 3 years...not bad for no credit at the time.
I got 8.0% interest rates for 3 years...not bad for no credit at the time.
10-26-2006, 01:32 PM
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In the past, I've used Capital One Auto Finance to buy person to person used cars; the "blank check." Good service, and usually the most competitive rates for those with excellent credit. Make/model doesn't matter. As mentioned above, $7500 minimum.
For this car, I decided to use a balance tranfer offer from one of my credit cars; 4.9% fixed, forever, with no fees, couldn't pass it up. Easiest because money was wired to my account, then I got a cashiers check from the bank to give to the private seller. With a credit card, its easy to make additional payments online beyond the minimum, if you want to as well. Obviously, no bank lien to consider if I sell it.
Several options if you have good credit that aren't dependent upon the year/make of the car.
For this car, I decided to use a balance tranfer offer from one of my credit cars; 4.9% fixed, forever, with no fees, couldn't pass it up. Easiest because money was wired to my account, then I got a cashiers check from the bank to give to the private seller. With a credit card, its easy to make additional payments online beyond the minimum, if you want to as well. Obviously, no bank lien to consider if I sell it.
Several options if you have good credit that aren't dependent upon the year/make of the car.
