Applying for a Loan on a 1991-1996 year car?

[OdyOwnage]

Is it possible?

I would think maybe capital one could do it?

I'm sure that credit is a big factor here as well.

Any inputs or suggestions?

[Jeebus]

I was wondering the same thing:ninja:


My credit isnt even all that great anyways so I doubt I would get aproved but I was wondering after finiding an ok deal on a 93 NSX:D

[OdyOwnage]

I was wondering the same thing:ninja:

you and me both then buddy. :ninja:

[Brooklyn]

Wells Fargo goes by value, not really the year of the car.

Worked at Chase, and from what I remember they go by year. They wont do anything older then 6 years or something like that.

[Andru]

it cant be more than 6 years old.

[Vick_]

go to a credit union

[Kohinoor]

lol good luck

[OdyOwnage]

So I can't finance a 2001? WTF that doesn't make sense at all.

What about an unsecured loan?

[Jeebus]

Wells Fargo goes by value, not really the year of the car.

Worked at Chase, and from what I remember they go by year. They wont do anything older then 6 years or something like that.

Are the interest higher as oppose to a newer car? I mean I know it depends on credit. But will a person with the same credit score applying for a new car and an old 90s car get the same interest rate?

[Brooklyn]

At some place, No you can't.

[OdyOwnage]

Are the interest higher as oppose to a newer car? I mean I know it depends on credit. But will a person with the same credit score applying for a new car and an old 90s car get the same interest rate?

I believe the older the car the higher the rate because the banks have "more risk" to finance that car for you.

But that is where "No Pre-Payment Penalties" come into play :p

[Vick_]

So I can't finance a 2001? WTF that doesn't make sense at all.

What about an unsecured loan?

you can get an unsecured loan at a credit union

[Brooklyn]

Are the interest higher as oppose to a newer car? I mean I know it depends on credit. But will a person with the same credit score applying for a new car and an old 90s car get the same interest rate?

In most cases, interest is always lower on a new car Vs. used. It also depends on the term of the loan.

[Djlockjaw80]

When trying to get a loan for an older car 9 times out of 10 you will have to apply for a higher rate personal loan.

[OdyOwnage]

Well then I guess I could save money to go 50/50 then.

Put down 50% and then get an unsecured loan for the other 50%.

Makes sense to me.

[Brooklyn]

So I can't finance a 2001? WTF that doesn't make sense at all.

What about an unsecured loan?

You'll get fucked with the interest rate on a unsecured, plus a secured loan is easier to get. If you dont qualify for a secured loan, you def. wont be able to get a unsecured.

[Jeebus]

What kinda things do you give up for a secured loan?

[OdyOwnage]

I was wondering the same thing:ninja:


My credit isnt even all that great anyways so I doubt I would get aproved but I was wondering after finiding an ok deal on a 93 NSX:D

My thoughts exactly :ninja:

You'll get fucked with the interest rate on a unsecured, plus a secured loan is easier to get. If you dont qualify for a secured loan, you def. wont be able to get a unsecured.

Simple interest?

[Brooklyn]

I believe the older the car the higher the rate because the banks have "more risk" to finance that car for you.

But that is where "No Pre-Payment Penalties" come into play :p

Go with a Bank where theirs no Pre-Pay Penalty.

[Brooklyn]

What kinda things do you give up for a secured loan?

Cars, Motorcycles, Boat, House, Savings/CD account....think thats about it.

[Jeebus]

Cars, Motorcycles, Boat, House, Savings/CD account....think thats about it.

FACK!!! I dont have any of those minus the car.:hsrun:

[OdyOwnage]

I will probrably wait a LOOOOONG time before I can find the right one.

[Scr4ppY]

I will probrably wait a LOOOOONG time before I can find the right one.

what kind of car are you trying to buy?

[OdyOwnage]

what kind of car are you trying to buy?

N S X - R :p

[RACER X]

bad credit, a 12+ y.o. car

good luck w/ that. lol

[benster]

Try HSBC or Capital One. Capital One has changed a bit from last year and more anal. I got financed from HSBC with a better rate than CO. I still havent found a clean RZ since last year.

[NisAznMonk]

I'm financing an 88 GMC1500 right now. At first it was with a normal bank (USAA) at 9.19%, and now its through my credit union (Navy Federal) at 4.90%.

The loan amount was only $3000, but for some reason the truck is worth at least $5,000. Either way it is possible, but the banks will charge you a higher interest rate because there is a much higher chance of your ride getting totaled out if it gets into a wreck.

[whiteboy1634]

if you get a nsx james ill buy your supra!!! lol lmk!

[PIYF]

Is it possible?

I would think maybe capital one could do it?

I'm sure that credit is a big factor here as well.

Any inputs or suggestions?

What are you trying to get, a Lambo??? You can't just save up and pay cash for a 10+ year old car?

EDIT, seen the car you want.

[koolaider]

dibs on the supra, tell me where you can finance your nsx and ill finance the supra there lol

[Kokis93lude]

Credit unions usually do not finance vehicles more than 10 years old. However they look more at the equity of the vehicle and if they hold their value. Supra and NSX hold they value a lot even for at 10-15year old car so i couldn't see why they would not finance them. Rates on secure and unsucured loans differ depending on your credit and term of the loan. I have seen secured loans go from 3% to 18% and unsucured from 9% to 18% at credit unions.Is way better to go with a secured loan then unsecured if they can finance it. Some credit unions have the same rates for used/new automobiles and other don't. Search the web and see which one best helps with your needs. In my personal opinion i would try any credit union before a bank when financing a vehicle, they have lower rates then most banks.

[OdyOwnage]

bad credit, a 12+ y.o. car

good luck w/ that. lol

Who's got bad credit you? :ninja:

Cause I know I don't :p

[syntheticGT]

I would like to do this in a year or two.

What if the car is more of a classic/rare auto?

[OdyOwnage]

I would like to do this in a year or two.

What if the car is more of a classic/rare auto?

I think those people usually have cash money or they build it from the ground up using money SPARINGLY! :Goofy:

[NisAznMonk]

I would like to do this in a year or two.

What if the car is more of a classic/rare auto?


Depends really on the condition of the car, but in the cases I've been through the projects were purchased with cash or the loans were unsecured personal loans. You can't really determine the value of that kind of ride through the usual KBB, NADA, etc.

[Krypto]

If the turd's worth it, Wells Fargo will do it.

Kruso