$#@# NADA values..anyone seen this?

[Ross L]

I'm trying to get a loan for a Syclone with 25K miles. Blue book has my GN @ $17,400 or something like that(listed as good condition, but It's excellent ). well, the bank say's they use NADA and that it runs real close to blue book value. The NADA site SUBTRACTS 10% from the value of a GN if it has a 6 cylinder $#@#$% . Plus it doesn't even give a MILEAGE OPTION! Has anyone seen such $#@%. I'm so frustrated right now. I am only using the GN for collateral,,,will NEVER sell it. So , the back say's if I can show them that my car is worth more they will re-figure the loan. Just needed to vent. Thanks ROss L

 

[efi-street]

Tell your bank to stuff it. Get your loan from Capital One Auto Finance - Car Loans and Refinancing - Low Rates - Apply Online
(formerly People First). I've been through 6 collector car loans with them including my latest '86 T that I financed for 60 months no questions asked.
The give the loan based on your credit, not the value of the vehicle being purchased. Just a thought.

-Clay

 

[420]

I would suggest getting an apprasial on your Buick. I got my Sy appraised at 30K, and it made getting my load a breeze

 

[Welby]

Tell your bank to stuff it. Get your loan from Capital One Auto Finance - Car Loans and Refinancing - Low Rates - Apply Online
(formerly People First). I've been through 6 collector car loans with them including my latest '86 T that I financed for 60 months no questions asked.
The give the loan based on your credit, not the value of the vehicle being purchased. Just a thought.

-Clay

I've used Capital One loans on two vehicles, my current DD Grand Cherokee, and my wife's Mazda Tribute. No complaints at all, it was so easy. Ross, you apply for a certain amount that you need, and if approved they send you a blank check good for up to your approved amount. So they might send you a check good for up to $15,000, but if you only use $9,500, that's what the payments are based on.
No penalties for early payoff either, which is something you have to watch out for. I bought an '03 Suzuki SV1000 and forgot to ask about it. I found out later that there were penalties for paying it off early ... Avoid National City for a loan...

 

[Ross L]

Thanks

I applied for the capital one loan last night and was approved right away. Interest rate is 9.7(cheaper than my bank). Is it really that easy? I called them this morning but their system was down so I'll call back later. Thanks for the advice!!! Ross
hope to add Syclone 1917 very soon.

 

[efi-street]

Yes, it's that easy. I'm currently on my 6th loan with them. I have very good relationships with the 2 banks that I deal with for personal and business stuff, but they've never been able to come close to touching the service and terms of Capital one. I'll put it this way, I just bought my '86 T through them last Saturday. I applied at 6PM Friday night and had the check by 9:30 AM Saturday.

 

[dgreen1069]

I applied for the capital one loan last night and was approved right away. Interest rate is 9.7(cheaper than my bank). Is it really that easy? I called them this morning but their system was down so I'll call back later. Thanks for the advice!!! Ross
hope to add Syclone 1917 very soon.

9.7% holly crap, you need to get yourself enrolled into a credit union. I haven't paid over 6.5% on a car loan in years. My last lone was 5.4%....It could have been as low as 4.9%, but I took a hit for buying used.

 

[GNBRETT]

I applied for the capital one loan last night and was approved right away. Interest rate is 9.7(cheaper than my bank). Is it really that easy? I called them this morning but their system was down so I'll call back later. Thanks for the advice!!! Ross
hope to add Syclone 1917 very soon.

9.7 SEEMS A LITTLE STEEP! IF YOU KNOW ANYONE THAT CAN GET YOU INTO A FEDERAL CREDIT UNION TRY THAT. I KNOW IN OUR POLICE DEPT. ALL A NEW MEMEBER NEEDS IS A REFERAL WITH A CURRENT MEMBER. FEDERAL CREDIT UNIONS HAVE REALLY GOOD INTEREREST RATES. YOU WILL NEVER GET THE GOING RATE FOR THESE VEHICLES WITHOUT AN APPRAISAL. DO THE APPRAISAL, IT WILL NOT ONLY HELP WITH THE LOAN IT WILL HELP WITH THE RE-SELL AS WELL AS HAVING THE ABILITY TO INSURE YOUR CAR FOR WHAT IT IS WORTH. YOUR ALWAYS GOING TO PAY SLIGHTLY MORE IN UR PREMIUM BUT WELL WORTH IT IF SOMEONE STEALS IT OR YOU WRAP IT AROUND A TREE....

 

[Ross L]

thanks for all the advive

The bank called back and will only go 3 years @ 10.5% (and I have good credit, or so I thought). Plus they wanted my GN for collateral or refinance my house I'm sure I could do better with a credit union but I don't have that option. It felt nice to tell them "no thanks" I have the exact loan I wanted with no questions asked. I'll just have to live with the interest. Thanks again.. Ross

 

[Welby]

That is awfully high, both of our Capital one loans were for around 5.5%.... Have rates gone up that much?! Yikes...

 

[Sweet6]

Figure he is buying a 15 year old car too. Rates go up as the car gets older. At least that is what I have seen.

 

[efi-street]

That is awfully high, both of our Capital one loans were for around 5.5%.... Have rates gone up that much?! Yikes...

Yes, the rates at capital one have steadily increased over the past few years. I still can't complain. My bank won't go over 36 months on a car that old. I got 60 months with capital one with no questions asked and they will go as far as 72 months. Also, person/person are the highest rates for them. You can get much lower interest when buying from a dealer. Besides, I've always paid my capital one accounts off early, so the interest doesn't bother me that much.