Freakin auto loans
Safety Car
Joined: Sep 2002
Posts: 4,971
Likes: 9
From: The reason time exists is so everything doesn't happen at once
A lot has changed in the past 3 years as far as loans are concerned. Back then a borrower only needed a pulse (and I've heard even that requirement was waived on more than one occasion). Credit is very tight now and unless you have a stellar credit score you'll wind up paying through the nose. I see even CapitalOne has tightened their criterea (I used them to finance a 12 year old 93 in 2005). If you can hold off on the purchase save your money until you can pay cash. If not, a personal loan may be your only option, but you'll pay a high rate.
Le Mans Master
Joined: Oct 2004
Posts: 6,314
Likes: 508
From: South-central Missouri
I used www.capitalone.com
No problem w/ older cars. My wife bought her 69 Vette thru Capital 1 as I did to on my 90.P.
Pro
Joined: Oct 2009
Posts: 730
Likes: 0
From: LaGrange Highlands IL
Joe
Race Director
Joined: Oct 2005
Posts: 11,772
Likes: 177
From: Rolla Missouri
2021 C4 of the Year - Unmodified Finalist
St. Jude Donor '10 thru '25
Capital One will also do personal signature loans, providing you have good credit. 
You are free to do whatever you want with the money.
You are free to do whatever you want with the money.
Advanced
Joined: Sep 2009
Posts: 69
Likes: 0
From: Houston TX
Where do y'all think the "economic crisis" came from to begin with??
If you can't afford it don't get it! Drive a $500 Chevette until you save enough money to BUY the Corvette. (That way you can still tell people you have a 'Vette.)
If you can't afford it don't get it! Drive a $500 Chevette until you save enough money to BUY the Corvette. (That way you can still tell people you have a 'Vette.)
Instructor
Joined: Dec 2008
Posts: 161
Likes: 0
From: St-Eustache Quebec
Dont know if its different for you guys in the U.S but why dont you just get a personal loan from your bank. Thats what I did. For a personal loan, they ask me for what Im getting it but they dont really care. They dont look at the car, dont ask proof of purchase or anything.
Oh and like you I sold my Vettes and now have a 93 LT1 Z28 as my summer toy. Fun car but the ''Corvette Fever'' has struck again and Im selling it to buy a C4.
Good luck
Oh and like you I sold my Vettes and now have a 93 LT1 Z28 as my summer toy. Fun car but the ''Corvette Fever'' has struck again and Im selling it to buy a C4.
Good luck
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Team Owner
Joined: Jan 2009
Posts: 73,568
Likes: 33
From: Somewhere in Mo
St. Jude Donor '09-'10, '14
Dont know if its different for you guys in the U.S but why dont you just get a personal loan from your bank. Thats what I did. For a personal loan, they ask me for what Im getting it but they dont really care. They dont look at the car, dont ask proof of purchase or anything.
Oh and like you I sold my Vettes and now have a 93 LT1 Z28 as my summer toy. Fun car but the ''Corvette Fever'' has struck again and Im selling it to buy a C4.
Good luck
Oh and like you I sold my Vettes and now have a 93 LT1 Z28 as my summer toy. Fun car but the ''Corvette Fever'' has struck again and Im selling it to buy a C4.
Good luck
Race Director
Joined: Dec 2002
Posts: 13,348
Likes: 233
From: SCMR Rat Pack'r Charter Member..Great Bend KS
Borrowing money to buy toys is never a good idea, but it's especially ill-advised these days.
Larry
______________
not easily impressed....
Last edited by rocco16; Dec 31, 2009 at 05:59 PM.
Racer
Joined: Aug 2009
Posts: 496
Likes: 4
From: Cordova TN
What seemed like a flame at first is probably very true in this thread. With these cars going for so little you need to have the cash or forget about it. The upkeep costs will rival a car note some months so best to not have to pay for both. If paying for both isn't a big deal save up a few months and pay cash.
Race Director
Joined: Dec 2005
Posts: 11,664
Likes: 15
From: Wellsboro Pa
Burning Brakes
Joined: Mar 2000
Posts: 1,131
Likes: 2
From: Panama City Beach FL
And this contributes how?
As stated earlier, check Cap One, Credit Unions, look into a 401k loan if you have one left...
As far as financing an older vehicle, if the peanut gallery doesn't have something to contribute, then move on.
The question was about sources of financing, not WHETHER the OP SHOULD OR SHOULD NOT.
Best of luck with your new purchase.
As stated earlier, check Cap One, Credit Unions, look into a 401k loan if you have one left...
As far as financing an older vehicle, if the peanut gallery doesn't have something to contribute, then move on.
The question was about sources of financing, not WHETHER the OP SHOULD OR SHOULD NOT.
Best of luck with your new purchase.
Last edited by finnor; Jan 3, 2010 at 04:51 AM.