1st time used car loan questions

insidethreat07 · 05-27-2013, 07:30 PM

Basically Ive been eyeing a 2000 WS6. Im wondering where would be the best place to look for a loan. Id really like to get a loan without selling my 01 v6. Opinions are welcome.
13k and the WS6 is mine

DemonZL1 · 05-27-2013, 07:40 PM

Quote:

Originally Posted by insidethreat07

Basically Ive been eyeing a 2000 WS6. Im wondering where would be the best place to look for a loan. Id really like to get a loan without selling my 01 v6. Opinions are welcome.
13k and the WS6 is mine

go to whoever you bank with and discuss it with them.

upflying · 05-27-2013, 08:05 PM

A loan on a 13 yr old car could be expensive and hard to find. A car loan depends on many factors. Expect a substantial down payment and interest rates that depend on your fico score.

67RS2010SS · 05-27-2013, 09:28 PM

You can try a credit union, usually have to be a member but you would only have to open an account.

cvp33 · 05-27-2013, 09:32 PM

I would have said PenFed but the age of the car could be an issue. I bought a 3 yr old vehicle and got 1.34@60mos so the rates are definitely low. My ZL1 was 1.25@60mos.

jaysonstuart · 05-27-2013, 09:34 PM

Man I'd find another way, owing money on a car that is 13 years old is a bad deal.

PHXLT1 · 05-28-2013, 11:54 AM

Wow 13k? Bit pricey idnt it? Id say credit union. They work with you a lot better than banks. My opinion anyway.

WheelmanSS · 05-28-2013, 12:00 PM

I have been in your shoes before, and it is a bit of a challenge.

The Pro - If you have decent credit, a bank will finance part of the loan.

The Cons - The rate may not be the best, and the bank will likely only finance 80% of the value of the car (not the actual price). So, you may need to cover the difference with cash if you have it.

insidethreat07 · 05-28-2013, 12:09 PM

Quote:

Originally Posted by PHXLT1

Wow 13k? Bit pricey idnt it? Id say credit union. They work with you a lot better than banks. My opinion anyway.

it has around 44k miles on it. I'm just going to save up my money this summer and see where I'm at closer to fall

CamaroC-17 · 05-30-2013, 08:45 PM

Quote:

Originally Posted by insidethreat07

it has around 44k miles on it. I'm just going to save up my money this summer and see where I'm at closer to fall

Save your dough for more important things. Already have a Camaro

Sent from my DROID RAZR HD using Tapatalk 4 Beta

2010SSRSM6 · 05-31-2013, 06:31 AM

I think the max age on a used car loan is 10 years. You would likely have to take out a signature loan or line of credit.

Sent from my iPhone using Tapatalk

05-27-2013, 07:30 PM	#1
insidethreat07 Drives: 2001 Camaro 3.8 Join Date: Jul 2010 Location: Continental Ohio Posts: 11,108 View My Garage	1st time used car loan questions Basically Ive been eyeing a 2000 WS6. Im wondering where would be the best place to look for a loan. Id really like to get a loan without selling my 01 v6. Opinions are welcome. 13k and the WS6 is mine __________________ 2001 Camaro V6 2016 Camaro 2SS

05-27-2013, 09:28 PM	#4
67RS2010SS Drives: Maroon 67 rs and CRT 2012 ZL-1 Join Date: Apr 2012 Location: Connecticut Posts: 2,005 View My Garage	You can try a credit union, usually have to be a member but you would only have to open an account. __________________ " No matter how tough you are when a 2 year old hands you a toy phone you answer it"

05-27-2013, 09:32 PM	#5
cvp33 America FVCK Yeah! Drives: 2021 ZL1 1LE A10 Join Date: Mar 2013 Location: Florence, SC Posts: 1,388	I would have said PenFed but the age of the car could be an issue. I bought a 3 yr old vehicle and got 1.34@60mos so the rates are definitely low. My ZL1 was 1.25@60mos. __________________ 1997 Z28 Anniversary Edition *SOLD* 2004 GTO *ORDER CANCELLED* 2004 CTS-V *SOLD* 2005 CTS-V *SOLD* 2006 300C SRT-8 *SOLD* 2006 300C SRT-8 *SOLD* 2010 CTS-V *SOLD* 2012 CTS-V coupe *SOLD* 2013 ZL1 vert *SOLD* 2016 Callaway Z06 *SOLD* 2019 Z06 *SOLD* "I lived my life by one motto.......mottos are for losers" cvp33

05-28-2013, 11:54 AM	#7
PHXLT1 Drives: black Z28 Join Date: Apr 2013 Location: el mirage Posts: 1,323	Wow 13k? Bit pricey idnt it? Id say credit union. They work with you a lot better than banks. My opinion anyway. __________________ My family 1994 Z28 (mine) 2015 Camaro (wife's) 2015 Silverado (mine!) 54 Belair (wife's) 2004 silverado (daughters)

05-28-2013, 12:00 PM	#8
WheelmanSS Logic is dead Drives: 2010 Camaro 2SS/RS Join Date: May 2010 Location: Chicago, IL Posts: 1,804	I have been in your shoes before, and it is a bit of a challenge. The Pro - If you have decent credit, a bank will finance part of the loan. The Cons - The rate may not be the best, and the bank will likely only finance 80% of the value of the car (not the actual price). So, you may need to cover the difference with cash if you have it. __________________ 2010 Camaro 2SS/RS (LS3) 573 RWHP 498 RWTQ - Vortech V3 Supercharger - Kooks Stepped Headers, Magnaflow 16580 - Suspension by Pfadt, Hotchkis. 2007 Trailblazer SS- Sold 2001 Trans Am WS6 431 RWHP 408 RWTQ - Sold 1994 Camaro Z28 - Sold

05-27-2013, 08:05 PM	#3
upflying Drives: '86 Monte Carlo SS Join Date: Nov 2010 Location: Reno, NV Posts: 3,119	A loan on a 13 yr old car could be expensive and hard to find. A car loan depends on many factors. Expect a substantial down payment and interest rates that depend on your fico score.

05-27-2013, 09:34 PM	#6
jaysonstuart Drives: 2016 Camaro 2SS Join Date: Jun 2012 Location: Albany, OR Posts: 685 View My Garage	Man I'd find another way, owing money on a car that is 13 years old is a bad deal.

05-31-2013, 06:31 AM	#11
2010SSRSM6 Drives: My wife crazy with my C5 usage. Join Date: Apr 2009 Location: DFW Posts: 6,558 View My Garage	I think the max age on a used car loan is 10 years. You would likely have to take out a signature loan or line of credit. Sent from my iPhone using Tapatalk __________________ UNDER CONSTRUCTION......again......