i am in the process of selling my 92 and i have a guy that wants to buy it. the problem is that the banks dont want to finance the car due to its age. is there a way around this? i suggested personal loans. i was just wondering if any of you guys selling / buying slightly older c4s had to deal w/ this and what can be done to get the car financed.

 

I asked about that when I bought my 95. The dealerships finance company would do a 3 year at 11.5% I said thanks anyway. Even my bank wanted near 10%. I went a different route and used a personal line of credit at 4.5%; or cash is always a good option.

 

Try Eloans they refinanced my 94 with 5.5%, pretty decent for being my first loan ever

 

Anyone who has to borrow the money to buy a '92 has no business purchasing the car....does he plan to borrow gas money as well?
Sorry, but people without good financial sense are a pet peeve of mine....
Hope you sell the car. (Someone with cash will come along soon.)
Larry

 

Stupid snobby *** people like you are my pet pieve, who are you to tell people that they have no financial sense because they don't have 11k cash to buy a car....If you lived anywhere near Ct i would go over and and smack you

 

Try the link below. Thats who I used. With good credit they didn't care how old the car was. BTW I agree with you LT1Vetteguy.....Code5coupe...get a life..........
http://www.capitaloneautofinance.com...e/Default.aspx

 

 

...yes i would advise the same....use capitol one...i did, and borrowed $13500 and the process was great getting it done....they had it set up and ready to go in 2 days, even with an automatic withdrawal, and with the seller as well, and with an attractive interest rate as well....something like 5.59%. all over the phone and fax machine...i was very satisfied. the seller was happy, and so was i, since i did not have any cash laying around.

 

You may want to suggest he find a credit union and join. CU's can be a little easier to deal with compared to banks. A signature loan is always a possibility if the prospective buyer has a good credit rating.

 

He should use www.capitaloneautofinance.com

Having said that i agree with the poster who is being flamed. If you can't afford to buy a 92 C4 at where prices are at you are most definitely not in a position to be buying it anyway. WAY too many people living on credit. And please don't lecture me about how it must be nice to have money etc. It's call common financial sense. I could Finance a Ferrari if i wanted (which is my true dream car) but i know it is dumb to do that so i pay cash for a vette instead. I lvoe my vette and it's absolutely awesome but i can afford it and don't have to worry about paying on it.

Financing toys and loading yourself up with debt is just plain dumb. Save your flames for someone who will care to hear them. This is a fact not an opinion. You should not go into debt for toys. Wait till you can afford them. It's rediculous to see people who have 90% of their income go towards some kind of payment. Then they go bankrupt and who does it end up costing. People like me who are more responsible with money.

 

BTW i live very close to CT. If you'd like to smack me cmon up and give it a shot

 

i would really, but i can tell by your post you need all the brain cells you can afford and your teeth

 

hey guys, i like the suggestions so far. keep them coming i'm gonna email him later in the day after i hear more of everyones ideas. as far as his reasoning to finance, i dont think anyone is in a position to judge. the guy has 2 brand new cars and seems to make decent money. he has a wife and kids and has always had T/As (12, to be exact). hes a nice guy who is just looking to get into vettes and wants a c4 as a toy. lets leave it at that and stick to the topic

 

Try a credit union. Most people have to borrow the money to buy a 92 with todays cheap money it makes good sence.
If you've got $11k laying around in the bank your wasting at 3% interest.

 

When I got my '88 my bank wouldn't go beyond 1 1/2 yrs so I finally found a broker, J.J.Best in MA, who would go 6yrs with 20% down and gave a livable monthly payment.

 

Did I hit a nerve?
Name-calling is really not acceptable on this forum, BTW.
Real adults realize that borrowing money to buy toys is the height of irresponsiblility. Financial sense means wisely using the money you have, not the unwise spending of money you don't have.

Smack me if it makes you feel better...but it won't change the truth.
(and, by the way, its spelled "peeve".)


Larry

 

Yeah you hit a nerve, but not from personnal issues.....My issue is with arrogance and people like you telling other people how they should live their lives, i have no idea where you get your standards...but in America, people have the right to do as they please without being judged....Only an Arrogant ***** like you would make comments like as you did...

As far as name calling...Well i do believe telling someone they are Financially irresponsible because they would like to purchase a vehicle is as far as you can go in the name calling world...

And when did a car become a toy.... i do believe its a legitment form of common transportation used by pretty much every country in the world regardless of what kind of car it is....

Toys..IMO....jet skis, quads, snow mobiles, ak-47's , a new addition in your airplane collection..

So STFU and keep your arrogant opinions to yourself...

 

Relax, Scott. I can see this is a very emotional subject for you.
No one meant to insult you or anyone else. No one has called anyone names (well, except you, of course).
Certainly you have the right to borrow money in the USA. That doesn't mean its a good idea, now does it?
I'll back off now, and let this dialog die a quick death.

Larry

 

Nothing wrong with borrowing 11K to buy a car as long as you get a good interest rate. Capital One is the place if you have a good credit rating. My wifes Lexus is fiananced through them. Not everybody has 11K lying around, but some still make a good living and can afford $200 a month to own a Corvette.

 

I remember a while ago at my work this new female b1tch VP they just hired after doing a nationwide search came down to give us a pep talk. What a peice of crap this idiot was, but I digress.

Anyway, somehow she managed to get on the subject on how she buys cars. She said she paid cash for a car, and after that she would set aside the equivalent of the monthly payment into a savings account. A few years later she would buy a new car with the cash and the trade. She touted how she did not like to have loans on a deperciating asset and that we should do the same.

But she had absolutely no clue that the rest of us peons did not have $30K sitting around to buy the first car! [or jobs for that matter after the work was sent to INDIA] After all, we were not getting high six figure salaries, stock options and bonuses.

And this POS worked for the CFO.

Nice work if you can get it.

BTW - her career was short and ilustrious. But she left her legacy by hiring all her [female] fireinds, giving them fat sign on bonuses, relocation, and sticking them in high executive positions even though they were basically clerks in their old job. I wonder what company she went on to totally screw up.