Auto Financing

[GrnNatlFan]

Are there a large number of people out there in TurboBuick.com land that financed the purchase of their turbo Buicks? If so, as I have just found out, my employer based credit union will only lend up to 90% of NADA retail. They do not use the Speciality Guide which is more accurate but the regular guide which puts the value of a 1987 GN at approx $3,500, which we all know is way off base for a car in good condition.

My question is; what are some other financing options being used besides local banks (usually same as credit unions) that offer a good interest rate for up to 5 years?

Help!

 

[gn4u2c]

capital one does autos that are collectable

 

[RBE17]

Personal loan, home equity loan, cash advance on a low interest credit card.

I hear you on the said value on these cars. When I was getting the title transferred I told the woman what I paid for the car (tax purposes) and she said, "The blue book value is only $1800". We (seller and I) were and asked where we could buy them that cheap.

Later,


Steve.

 

[TurboRegal84]

Capital One is an excellent lending source. They finance the person, and not the Automobile. This means if you have excellent credit you could finance a car that is way 'over book' with ease!

I have had customers approved in 15 minutes when they wanted to buy an Automobile at my dealership. The older cars are very hard to finance due to the range of values, and I have used them in several classic and collector cars that I have sold.

 

[GrnNatlFan]

The problem I am having with Capital One is that they will not finance less than $10,000. The vehicle I am looking at is less than that amount.

 

[GrnNatlFan]

make that $7,500 as the minimum amount Capital One will lend. I still need less than that.

 

[TurboRegal84]

Try to apply for $7500.....Use the extra money for mods or just take the extra amount, and put it back into the loan. It is all simple interest so you can pay it off early!