Finance for C5
Thread Starter
Cruising
Joined: Mar 2013
Posts: 11
Likes: 0
Thanks for all the advice. Wish I could pay cash. Unfortunately Im unable to do so. Had an 01 coupe before and loved that car. Had to sell cause only one kid could ride at a time. Planning on spending around 25k with a good down payment. I thought some might look at vette as more of a collectible and would finance for longer period. Especially since car would be driven less than 10k yearly. After reading replies I agree 48 might be better cause at end of loan, car would be 14+.
Racer
Joined: Nov 2012
Posts: 376
Likes: 21
From: Coos Bay Oregon
Last December I financed my 98 for 60 months through Northwest Community Credit Union. The interest rate was in line with the current markets so I'm a happy camper. I only financed $10K on the car so that may have something to do with it too.
Drifting
Joined: Jun 2013
Posts: 1,807
Likes: 1
Drifting
Joined: May 2010
Posts: 1,839
Likes: 390
Team Owner
Joined: Jan 2009
Posts: 73,568
Likes: 33
From: Somewhere in Mo
St. Jude Donor '09-'10, '14
I'm sure the OP appreciates all the great wisdom of C5 General, but to his question.
Check with JJ Best, they specialize in financing Collector type cars. You may not get the best interest rate though. Not sure what their rate is. Google them.
Check with JJ Best, they specialize in financing Collector type cars. You may not get the best interest rate though. Not sure what their rate is. Google them.
Instructor
Joined: May 2012
Posts: 175
Likes: 1
I agree they are good, I used JJ Best, but they added $500 to loan for their cut and found a bank for 8.99% for me, do better looking on your own, like my local bank $10,500 at 2.95% for 60 months. Payment $186 a month!!!
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Heel & Toe
Joined: May 2013
Posts: 22
Likes: 0
Check the Credit Unions
I recently bought a 97 with 26,000 miles in February and was able to get a 60 month loan. I have good rapport with the credit union but got hit a few points on the finance charge. If you have other loans through a credit union then this would be your best bet. I have 4 kids and it was stretch getting into another vette but it gives my life purpose and you cant put a price on that...good luck my friend...
Instructor
Joined: Jul 2013
Posts: 224
Likes: 0
From: Worcester MA
I signed up for AAA and used there auto loan services. You fill out the application and they search for a bank that will finance the loan for you. As long as your credit is good you should be all set. I just bought a 97 C5 for $12,800 put $1800 down and financed the rest.
Safety Car
Joined: Dec 2011
Posts: 4,704
Likes: 239
From: Redondo Beach CA
I went with my credit union. Wasn't really in the market, but 1.99 percent for 60 months on a used car caught my attention. They did have an age limit on the car, which I just beat , since I was closing the deal in December. They also had a top end money limit, as you would expect.
You could always join the army and get that good rate Pentagon rate.
Don't forget to budget (25%?) for repairs on your new car. People don't sell 'em for fun, there is usually a reason.
You could always join the army and get that good rate Pentagon rate.
Don't forget to budget (25%?) for repairs on your new car. People don't sell 'em for fun, there is usually a reason.
Melting Slicks
Joined: Aug 2011
Posts: 2,423
Likes: 200
From: Atlanta GA
Credit Unions or Capital One Auto Loans will go 60 months on 02-04, perhaps earlier if you have perfect credit and are not over-extended. Interest rates are not bad either. Most are under 4%.
Melting Slicks
Joined: Aug 2011
Posts: 2,423
Likes: 200
From: Atlanta GA
Burning Brakes
Joined: Dec 2012
Posts: 832
Likes: 14
From: Lake Charles Louisiana
I had to buy my Vette fast and didn't have time to shop rates. Was quitting a job with a company truck on Friday and had to be at new job on Monday. Found the Vette I wanted at a dealer, told them to use my credit union. Financed $18K on an '01. 0 money down and 72 months at 4.9%. I do have a very high credit score though. The only "catch" to the deal is they required I buy the Gap insurance, which I would have done anyway.
If you can get a decent rate with very little or no money down then that's the way to go. In my opinion anything less than 5% interest is still very cheap money.
If you can get a decent rate with very little or no money down then that's the way to go. In my opinion anything less than 5% interest is still very cheap money.
Advanced
Joined: Aug 2012
Posts: 66
Likes: 0
From: NJ
Very easy process and you just can't beat that rate!