Found my Grand National......best way to finance?

[Christophah]

Hey all. I found a good deal on a nice low mileage (54k) 87 GN. It is all original, no mods very clean driver quality car. I can get the car for around $12k. I wish I had the cash on hand to buy it out, but my house has broken me for the last year, so I will need to finance. I dont want to get a home equity loan or line of credit, and it is impossible to fiance a 87 model year car through an auto loan (unless you are willing to pay 15% interest ) what is the best way to finance this car? I know all of you guys didnt buy your cars cash. Any suggestions?

 

[Robbie-87plz]

Family-assisted Loan program...

 

[DCVING 6]

buddy of mine financed his through Capital One at around 6.5%. I would try them.

 

[Christophah]

Family-assisted Loan program...

thanks for the reply, but I don't want to go there - I'm a grown man and I don't like getting money from the P's.

 

[excobraguy]

Hey all. I found a good deal on a nice low mileage (54k) 87 GN. It is all original, no mods very clean driver quality car. I can get the car for around $12k. I wish I had the cash on hand to buy it out, but my house has broken me for the last year, so I will need to finance. I dont want to get a home equity loan or line of credit, and it is impossible to fiance a 87 model year car through an auto loan (unless you are willing to pay 15% interest ) what is the best way to finance this car? I know all of you guys didnt buy your cars cash. Any suggestions?

JJ Best financed mine @ 9.5% interest...........5 year loan for $16,000. Just make sure you quote to them what you need, plus 20%. They want you to put down a 20% down payment. But if you are smart you quote your purchase price 20% over, then you can finance the full amount. Example, if the car is $10,000 they will loan $8,000. So initially you ask for $12,000 and they will loan 80% of that or $9600 in this example........They did mine and it worked out great.

 

[Robbie-87plz]

Chances are they will look at kbb and will be more than willing to loan you a substantially lower amount. This is one case in which the kbb helps the avg Buick owner.

 

[fatride]

I have used Capital One Auto Finance for 4 of my Buicks....

 

[BOSS6]

i financed my car through the credit union at 7.5% . i only paid 5000.00 for it:smile: :smile:

 

[1987BuickGN]

Credit Union worked out best for me

 

[86 TR]

X2. My credit union is real flexible about older musclecars. When I bought my car I paid 7.9% interest on the loan. And they said I could go up to five years on it.

 

[Project TNX]

Are you a USAA member? They would do it, or at least they would have a few years ago when I called about doing it myself.

 

[SS/GNX]

Classic Car Financial

www.classicarfinancial.com

financed my 68 camaro through them. They are just a broker and find a bank to finance it, so I would probably just call some banks and ask around. Everybody is different.

 

[dgoodhue]

I would try capital one autofinance. The are up around 9% for person to person loan and last I used them they didn't go by book value. You have to have decent credit or goes up quite a bit though. If you are looking a dealer, you can get high 6's.

 

[DragulaGN]

I did a Capital One loan for my GN. I just got pre-approved for a certain amount and they sent me a blank check...no questions asked. I think the interest is 9 percent if you do a direct deposit.

 

[at7we2]

I've purchased two GN's through JJ Best. They sold both loans to Sovereign Bank, but I have not had any problems or complaints with JJ Best or Sovereign. The approval process was very easy.

J. J. Best Banc & Co. - Classic Car Financing

nice to see I'm not the only one paying interest on a 20 year old Buick!

Rob

 

[Whut]

I paid cash for mine but two of my friends used credit unions to finance theirs.

 

[Christophah]

I've purchased two GN's through JJ Best. They sold both loans to Sovereign Bank, but I have not had any problems or complaints with JJ Best or Sovereign. The approval process was very easy.

J. J. Best Banc & Co. - Classic Car Financing

nice to see I'm not the only one paying interest on a 20 year old Buick!

Rob

Yeah really. It kind of sounds silly when you say it..........that you need a loan and make payments on a 20 year old Buick I think it is worth it. Can't wait to get one!! You only live once right?

 

[at7we2]

Yeah really. It kind of sounds silly when you say it..........that you need a loan and make payments on a 20 year old Buick I think it is worth it. Can't wait to get one!! You only live once right?

HAHAHAH!! don't even get me started!

Here's my "abriged" gear-head life story.....

had several "hot rods", lived and breathed it. got married, tried to "grow up" and sold last hot rod. never got it out of my system. wanted a turbo Buick since high school. heard about JJA Best through Kirban's website...."OH YEAH!!! I DON'T HAVE CASH, BUT I'VE GOT GOOD CREDIT! TURBO BUICK HERE I COME!!!!"

like I said, I've purchaed two through JJ Best. unfortunately, I sold the first one before I bought the second one. (as a side note, I did pay cash for the first turbo Buick I ever bought, but it was a little "rough")

 

[dgoodhue]

Yeah really. It kind of sounds silly when you say it..........that you need a loan and make payments on a 20 year old Buick I think it is worth it. Can't wait to get one!! You only live once right?

I would rather take a loan on something that will hold it value vs a new or almost new car that will lose half their value in 3 years.

 

[justabuickv6]

I used my Credit Union. They use NADA values. They just cut me a check.