Loans on older vettes?
Melting Slicks
Joined: Sep 2007
Posts: 2,013
Likes: 170
From: Highlands Ranch CO
i had it pretty easy i was qualified on the spot the first time for my 01 with 36k miles for 20k with a max term of 60 months, then they denied me because they thought i was trading in a car (didnt want to be the third car i financed)
second place did it no questions asked.
second place did it no questions asked.
Race Director
Joined: Sep 2006
Posts: 11,214
Likes: 1,140
From: Santa Rosa Beach FL
There's got to be more than two CU's in Tampa.
Pro
Joined: Feb 2002
Posts: 568
Likes: 4
From: Central OH
Just bought an 2001. Have excellent credit.
Chase said too old, period.
Credit Union said yes but car had to be titled in Ohio FIRST to get loan and car was from another state, no go.
Other 3 yrs max.
Went with dealer financing for simplicity, will pay off early as always anyhow.
Chase said too old, period.
Credit Union said yes but car had to be titled in Ohio FIRST to get loan and car was from another state, no go.
Other 3 yrs max.
Went with dealer financing for simplicity, will pay off early as always anyhow.
Race Director
Joined: Feb 2002
Posts: 16,105
Likes: 7
From: Canal Winchester OH
CI 3-4-5-6-7-8-9-10-11 Vet
CI X Blind Auto-X Champ
I ended up using a credit card "convenience check" that had a fixed rate of 3.99% fixed for the 2001. Did the same with my 87 6 years ago. Sadly the conventional car loans wanted to charge a rediculous rate and only go 3 years.
I have diciplined myself to pay a fixed payment monthly on the car, no matter what the minimum payment shows. I'm paying enough to hopefully have it paid off in 2 years. I know for sure I won't be missing a payment, I would get raped on interest if I miss it.
I have diciplined myself to pay a fixed payment monthly on the car, no matter what the minimum payment shows. I'm paying enough to hopefully have it paid off in 2 years. I know for sure I won't be missing a payment, I would get raped on interest if I miss it.
Burning Brakes
Joined: Jun 2009
Posts: 787
Likes: 11
From: Santa Rosa California
I ended up using a credit card "convenience check" that had a fixed rate of 3.99% fixed for the 2001. Did the same with my 87 6 years ago. Sadly the conventional car loans wanted to charge a rediculous rate and only go 3 years.
I have diciplined myself to pay a fixed payment monthly on the car, no matter what the minimum payment shows. I'm paying enough to hopefully have it paid off in 2 years. I know for sure I won't be missing a payment, I would get raped on interest if I miss it.
I have diciplined myself to pay a fixed payment monthly on the car, no matter what the minimum payment shows. I'm paying enough to hopefully have it paid off in 2 years. I know for sure I won't be missing a payment, I would get raped on interest if I miss it.
Race Director
Joined: Feb 2002
Posts: 16,105
Likes: 7
From: Canal Winchester OH
CI 3-4-5-6-7-8-9-10-11 Vet
CI X Blind Auto-X Champ
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Instructor
Joined: Jun 2009
Posts: 154
Likes: 0
From: Northeastern PA PA
I just bought mine and used home equity for a portion of it and cash for most of it. I bought it from Conte's Corvette's in New Jersey. He has a company called JJ Best on his website that is advertised as "Financing for Collector Cars". I called them originally and the rate for my 2004 was 9.9%, I got much better on home equity. It might be worth looking at them. The website was jjbest.com. I did not ask them how much I needed to put down.
Burning Brakes
Joined: Jun 2009
Posts: 787
Likes: 11
From: Santa Rosa California
GREAT idea. I wonder if they give insurance discounts on the loans they give. Do you know if they loan on cars over 10 years old?
Thread Starter
Le Mans Master
Joined: Mar 2005
Posts: 5,492
Likes: 39
From: Tampa Florida
Racer
Joined: Jan 2009
Posts: 279
Likes: 1
From: North Port Florida
Instructor
Joined: Jun 2009
Posts: 115
Likes: 0
From: Washington PA.
I've been a member of the same credit union for 30 years, when I bought my 97 Coupe on the last Sat. in May this year, I called from the dealership parking lot,(an hour away) did the application by phone at 4.9% and drove directly to the credit union, got there 5 min. before it closed, the loan officer had me sign papers and handed me the check. I went back to the dealership on Monday and picked the car up. Oh yeah, it was for 48 mos.
Thread Starter
Le Mans Master
Joined: Mar 2005
Posts: 5,492
Likes: 39
From: Tampa Florida
Geez where are these credit unions at? I think i could get a great rate just not on a 2000. Its not that i cant get a loan because my credit, my credit is great, its because they just dont do over a 3 year loan on a car that old or dont do a loan period on a car that old. We dont even get to the whole running my credit part.
