Financing an old car

"BugEyedBimmer - back in the Saddle Dakota Leather" (bugeyedacura) 02/01/2015 at 22:32 • Filed to: None

1

9

Hey guys, I might be looking to get an older Vette, maybe something in the C4 range. However, I don't have the money to just buy cash. Is it possible to finance a 90s car?

Jedidiah > BugEyedBimmer - back in the Saddle Dakota Leather 02/01/2015 at 22:37

3

Maybe if its from a used car lot dealership, but it will likely be more expensive in the end and I trust used dealerships about as much as I trust chinese car parts.

I'd save up for a while and buy the right one, it's not the world is going to run out of C4s anytime soon.

Jayhawk Jake > Jedidiah 02/01/2015 at 22:39

2

What he said. I wouldn't recommend it. Set a goal, save towards it. It's what I'm doing

BugEyedBimmer - back in the Saddle Dakota Leather > Jedidiah 02/01/2015 at 22:39

0

True. I'm just looking to get into a RWD car on the cheap. And my wife won't go for a big outflow from our savings.

415s30 W123TSXWaggoIIIIIIo ( •_•))°) > BugEyedBimmer - back in the Saddle Dakota Leather 02/01/2015 at 22:43

1

I do personal loans when I have projects. I build my credit and I free up my cash flow. They won't really do an auto loan on an old car.

Jedidiah > BugEyedBimmer - back in the Saddle Dakota Leather 02/01/2015 at 22:44

1

They aren't too terribly expensive. You can get a really nice one for about 7k or one that needs work for 4k.

You'll wind up putting money away anyway the way it sounds, so it's better to hold out for the nice one even though it's a larger sum of money; it will be most financially viable in the long run.

ly2v8-Brian > BugEyedBimmer - back in the Saddle Dakota Leather 02/01/2015 at 22:44

2

Talk with the Banks

BugEyedBimmer - back in the Saddle Dakota Leather > 415s30 W123TSXWaggoIIIIIIo ( •_•))°) 02/01/2015 at 22:46

0

What kind of rates do you usually get with that?

415s30 W123TSXWaggoIIIIIIo ( •_•))°) > BugEyedBimmer - back in the Saddle Dakota Leather 02/01/2015 at 22:49

1

It depends on your credit and length of the loan. Back in college my mom who has ultra perfect credit cosigned for me on some stuff and then they trusted me, so I have a good score. Of course you can pay a little more a month and cancel the interest.

Conan > BugEyedBimmer - back in the Saddle Dakota Leather 02/01/2015 at 23:04

0

It depends on how you do it. I know a lot of folks who got old cars on "transportation loans" from credit unions.