Self introduction / used car loan time!
03-23-2010, 10:27 AM
#21
Melting Slicks
Member Since: Jun 2008
Location: New Jersey - National Corvette Museum Member '08, '09, '10, '11, '12
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Here is a 
idea.......
Keep the Civic...use Corvette $$ to pay off college loans.....then buy a new Corvette when you have no debt.........
I know......this is I just couldn't help myself.......
Every 24 year old male, w/ school loans, must have a C6 Corvette now!
It is the
way.......
idea.......Keep the Civic...use Corvette $$ to pay off college loans.....then buy a new Corvette when you have no debt.........
I know......this is
I just couldn't help myself.......Every 24 year old male, w/ school loans, must have a C6 Corvette now!
It is the
way.......
03-23-2010, 11:29 AM
#22
Racer
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Member Since: Mar 2010
Location: Reston Virginia
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Well you said you would consider an 07, so why not an 06? They are basically identical.
You said 07 or 08 however there are major changes in those years but very minor changes from 06 to 07.
Are you familiar with the changes through the years more specifically from the 07 to 08 vettes?
James
You said 07 or 08 however there are major changes in those years but very minor changes from 06 to 07.
Are you familiar with the changes through the years more specifically from the 07 to 08 vettes?
James
Here is a idea.......
Keep the Civic...use Corvette $$ to pay off college loans.....then buy a new Corvette when you have no debt.........
I know......this is I just couldn't help myself.......
Every 24 year old male, w/ school loans, must have a C6 Corvette now!
It is the way.......
idea.......Keep the Civic...use Corvette $$ to pay off college loans.....then buy a new Corvette when you have no debt.........
I know......this is
I just couldn't help myself.......Every 24 year old male, w/ school loans, must have a C6 Corvette now!
It is the
way.......
03-23-2010, 11:53 AM
#23
I just bought a 2006 C6 a week ago. I paid 60% of it on the down payment and took out a loan for $13,000 to build my credit. I have a score of about 780 and have my own insurance & registration, under my name with no co-signers on the loan. I am 24, have no college loans out, and have 2 income sources. My 5-year car loan was at 6%, but I plan to pay it off in 2.5 years to save interest.
hope this helps.
hope this helps.
If you have a credit score of 780...why are you trying to "build" your credit?
"Building" your credit means pulling your score up. Yours is already up in prime lending ranges.
OP - I just financed my 07' Z06 two weeks ago. Put 20% down and financed @ 6% for 5 years which I think was a good rate considering the car is almost 3 years old.
Also - with a 720 and two documented sources of income, you won't need a co-signer, no matter your age. Down payment always helps as the banks like to know you have skin in the game.
Last edited by Victory07; 03-23-2010 at 11:56 AM.
03-23-2010, 12:02 PM
#24
Melting Slicks
Member Since: Jun 2008
Location: New Jersey - National Corvette Museum Member '08, '09, '10, '11, '12
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There's no money there to just magically pay off the $50k+ in student loans, all of which are at relatively low interest rates as is. I understand eliminating all of that debt would be great, but even throwing $1000/mo at the loans would leave me with 6-8 years of payments and little money to invest for "retirement" (whatever that is).[/QUOTE]
Ok.....but w/o a monthly Corvette payment and insurance, your loans would certainly be paid off much sooner.
It is not just you....the majority of young people want all the toys now, and put themselves into more debt to accomplish it.
Like I said before....It is the way........
Ok.....but w/o a monthly Corvette payment and insurance, your loans would certainly be paid off much sooner.
It is not just you....the majority of young people want all the toys now, and put themselves into more debt to accomplish it.
Like I said before....It is the
way........
03-23-2010, 12:35 PM
#25
Racer
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Location: Reston Virginia
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Ok.....but w/o a monthly Corvette payment and insurance, your loans would certainly be paid off much sooner.
It is not just you....the majority of young people want all the toys now, and put themselves into more debt to accomplish it.
Like I said before....It is the way........
It is not just you....the majority of young people want all the toys now, and put themselves into more debt to accomplish it.
Like I said before....It is the
way........You need debt in this country to avoid having the government take your money and use it for their own good. It's a double edged sword because at the same time, you could be debt free and feel great knowing that you don't owe anyone a dime. What it boils down to is what you want from life.
I entertain the idea of being debt free, but I also know that *my* quality of life would be vastly improved by having something that I can take care of and enjoy whenever I desire. All things considered, adding bad debt isn't the end of the world given my current financial situation. I'll still be investing in my future and I don't foresee myself paying on the Corvette for more than a few years (surely not the full 60 months that I plan to take the loan out for).
At that point, I suspect my girlfriend will finally be ready to settle down somewhere. The car will be paid off, I'll have more money saved up for a down payment on a condo/house, and then I can start down the road of homeownership.
04-18-2014, 07:40 AM
#26
1st Gear
Member Since: Apr 2014
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Compare different car loans to find good interest rates. Not only are there physical locations for lending, many are available online. They want to get your business so they have very competitive prices. As a first time borrower, you might benefit from some promotional offers too. Compare and contrast car loan expenses and options before choosing a lender.
Do your research before choosing a car lender to make sure you get the best deal. There are many options available when it comes to car lenders; therefore, it is important to use a reputable lender. Read the reviews on a company before you make a decision to borrow through them.
http://foxcarloans.com.au/
Do your research before choosing a car lender to make sure you get the best deal. There are many options available when it comes to car lenders; therefore, it is important to use a reputable lender. Read the reviews on a company before you make a decision to borrow through them.
http://foxcarloans.com.au/
04-18-2014, 08:13 AM
#27
Melting Slicks
If you have any immediate family that has a military background maybe you could qualify for USAA.
With a high credit score they offer 2.99% up to 72 months and 2.49% if they draft from your bank account (which I allow them to do).
They are absolutely first rate to deal with also. I have my car insurance with them too.
I understand being young and wanting a vette. I had my first at 21. Just be sure that you don't make yourself car poor - lots of car but no money.
Good luck!
With a high credit score they offer 2.99% up to 72 months and 2.49% if they draft from your bank account (which I allow them to do).
They are absolutely first rate to deal with also. I have my car insurance with them too.
I understand being young and wanting a vette. I had my first at 21. Just be sure that you don't make yourself car poor - lots of car but no money.
Good luck!
04-18-2014, 08:58 AM
#28
If you have a credit union with your work thats the best way. My credit union at my work gave me the best rate, 2.5% plus .5 off for having the payment direct withdrawal from my check. I just turned 25 got a 07 c6 put 40% down
04-18-2014, 09:07 AM
#29
penfed.org will give you 2.49% on any used C6 5 year loan, and yes you can join.
As somebody who is 34 I personally believe that you should spend your 20s paying down debt but also having some fun. While being old and wealthy is nice, they can never go back to their 20s and have a corvette now
As somebody who is 34 I personally believe that you should spend your 20s paying down debt but also having some fun. While being old and wealthy is nice, they can never go back to their 20s and have a corvette now
03-07-2017, 06:44 AM
#30
1st Gear
Member Since: Mar 2017
Location: Canada Etobicoke
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First and foremost, I should probably introduce myself since I finally signed up last night. My name is Brandon and I'm located in Northern VA, working as a Technical Analyst in the Reston area. I've been lurking for about a year now, primarily monitoring the C6 ads for prices, investigating colors and features, etc.
The goal this year is to finally put myself into a nice car, something exciting that I can turn to on the weekends (maybe during the week at times, but I'm planning on leaving my daily commute to my trusty and ever-so-cheap 2000 Civic EX). I went back and forth between a C5/C6 and an e46 M3 and I decided that costs associated with the E46 (relatively high price for the car, extra seats, not-so-glorious gas mileage and costly BMW maintenance fees) were simply not my cup of tea. The styling, colors, sheer power, and highway mileage (I do a lot of traveling on the weekends to visit my girlfriend) are reason enough to go with the C6 in my book.
As I suggested in another thread I was responding to, I'm looking into getting pre-approved from my Credit Union in the coming weeks for a used car loan. The minimum APR from them is 5.24% for 0-48 months and 5.49 for 49-60 months, the latter of which suits me best given my month-to-month expenses for the last 5 or so months.
I can't guarantee that I'll actually get that low of a rate, but I am going to have my parents cosign (my credit score is 732 right now and I'll be 25 in July).
I'm curious to know though what you guys have seen / received lately regarding interest rates on used car loans. Assuming I get locked in at 6%, is that high? About average?
Thanks in advance for any feedback.
The goal this year is to finally put myself into a nice car, something exciting that I can turn to on the weekends (maybe during the week at times, but I'm planning on leaving my daily commute to my trusty and ever-so-cheap 2000 Civic EX). I went back and forth between a C5/C6 and an e46 M3 and I decided that costs associated with the E46 (relatively high price for the car, extra seats, not-so-glorious gas mileage and costly BMW maintenance fees) were simply not my cup of tea. The styling, colors, sheer power, and highway mileage (I do a lot of traveling on the weekends to visit my girlfriend) are reason enough to go with the C6 in my book.
As I suggested in another thread I was responding to, I'm looking into getting pre-approved from my Credit Union in the coming weeks for a used car loan. The minimum APR from them is 5.24% for 0-48 months and 5.49 for 49-60 months, the latter of which suits me best given my month-to-month expenses for the last 5 or so months.
I can't guarantee that I'll actually get that low of a rate, but I am going to have my parents cosign (my credit score is 732 right now and I'll be 25 in July).
I'm curious to know though what you guys have seen / received lately regarding interest rates on used car loans. Assuming I get locked in at 6%, is that high? About average?
Thanks in advance for any feedback.
03-07-2017, 10:19 PM
#31
Burning Brakes
And this is probably the best option in my locality http://autoloanservice.ca/car-loans-for-bad-credit/
03-07-2017, 10:54 PM
#32
Team Owner
And this is probably the best option in my locality http://autoloanservice.ca/car-loans-for-bad-credit/
