Notices
C5 General General C5 Corvette and C5 Z06 Discussion not covered in Tech

Financing for C5

Thread Tools
 
Search this Thread
 
Old Apr 8, 2020 | 07:18 AM
  #21  
slopoke17's Avatar
slopoke17
Drifting
15 Year Member
Photogenic
Community Favorite
 
Joined: Dec 2009
Posts: 1,351
Likes: 305
From: Feeding Hills, MA
Default

Several loans with Lightstream (Suntrust) including my new 1965 coupe, and I've also had a couple with JJ Best Banc. I'd go with Lightstream if possible, good rates and you'll have your money in your bank the next day.
Reply
Old Apr 8, 2020 | 09:19 AM
  #22  
Warning's Avatar
Warning
Advanced
 
Joined: Feb 2020
Posts: 72
Likes: 14
Default

Originally Posted by roggie69
Try Lightstream (division of Sun Trust Bank)--I've used them several times, most recent was purchasing a 2005 Turbo PT Cruiser, interest rate was 4.69% for 5 years, no money down. They do not ask the year of the car, give you a loan for your asking amount and it's
unsecured, no lien on the car, so no paperwork-----best interest rates I've been able to find. Offer options as to how long you want the loan for.
What did you do, go on their website?

Did you choose auto loan or personal loan?

Reply
Old Apr 8, 2020 | 09:21 AM
  #23  
Warning's Avatar
Warning
Advanced
 
Joined: Feb 2020
Posts: 72
Likes: 14
Default

Originally Posted by billschroeder5842
Try getting a "personal loan" for the car. I have used Wells Fargo in the past for that situation and it is easy and pain free. It is credit score based.
When they asked what you needed the money for on the application did you say for a car? Did they then want it secured and owned the title?
Reply
Old Apr 8, 2020 | 09:45 AM
  #24  
jjc508520's Avatar
jjc508520
Melting Slicks
10 Year Member
Photogenic
Photoriffic
Shutterbug
 
Joined: Aug 2014
Posts: 2,470
Likes: 460
From: East Windsor NJ
Default

Originally Posted by nxvette01
I’m in the mart for a c5 Z06 but having a hard time finding a lender that will loan on a vehicle that age. My credit union will not only go back as far as 2011. What lender are y’all using to get a loan for older vehicles ?
I took a $15k loan on my 401k back in 2010 and its been paid back - but in the current climate (liquidating shares at low prices) that might not be a good strategy...
Reply
Old Apr 9, 2020 | 12:16 AM
  #25  
Supercharged111's Avatar
Supercharged111
Safety Car
10 Year Member
Liked
Loved
Top Answer: 1
 
Joined: Jan 2012
Posts: 3,956
Likes: 520
From: Da U.P.
Default

I've had excellent luck with Ent Federal Credit Union. They financed my enclosed trailer, the wife's Envoy when USAA said no to anything older than 7 years, and now my slide in truck camper. They have great rates on newer stuff and very fair rates for older/oddball stuff.
Reply
Old Apr 9, 2020 | 12:32 AM
  #26  
Jim_ZO6's Avatar
Jim_ZO6
Racer
 
Joined: Mar 2018
Posts: 454
Likes: 200
From: Chicago
2020 Corvette of the Year Finalist (stock)
C5 of Year Winner (stock) 2019
Default

I got a four year loan on my 2002 in 2018 with Great Lakes Credit Union. Sounds like a lot of people have used credit unions.
Reply
Old Apr 9, 2020 | 01:30 AM
  #27  
My Vette Life's Avatar
My Vette Life
Safety Car
10 Year Member
Liked
Loved
Community Favorite
 
Joined: Mar 2015
Posts: 3,638
Likes: 245
Default

If you going to finance an old corvette, I would just go for a C6 at that point and don't pay more than 12k for a c5.
Reply
Old Apr 9, 2020 | 08:08 AM
  #28  
kcobain147's Avatar
kcobain147
Instructor
 
Joined: Jun 2016
Posts: 126
Likes: 32
2017 C5 of the Year Finalist
Default

Small regional bank - canandaigua national. Good rate, was able to pay online. This was..4 yrs ago maybe?
Reply
Corvette Stories

The Best of Corvette for Corvette Enthusiasts

story-0

10 Ugly Corvettes That We Still Kinda Love

 Joe Kucinski
story-1

Top 10 Most Expensive Corvettes Ever Sold on Bring A Trailer

 Brett Foote
story-2

10 Things Every Corvette Owner Needs (2026 Edition)

 Michael S. Palmer
story-3

8 Most "Only Corvette Owners Understand" Quirks and Problems

 Pouria Savadkouei
story-4

10 Reasons the C6 Z06 is Still A Performance Benchmark After 20 Years

 Joe Kucinski
story-5

How Much Horsepower Every Corvette Engine "LOST" in 1972

 Joe Kucinski
story-6

Top 10 DOs and DON'Ts for Protecting Your Convertible Top!

 Michael S. Palmer
story-7

Top 10 Most Explosive Corvettes Ever Made: Power-to-Weight Ratio Ranked!

 Joe Kucinski
story-8

150 hp to 1,250 hp: Every Corvette Generation Compared by the Specs That Matter

 Joe Kucinski
story-9

8 Coolest Corvette Pace Cars (and Replicas) of All Time

 Verdad Gallardo
Old Apr 9, 2020 | 08:09 AM
  #29  
grampi50's Avatar
grampi50
Le Mans Master
 
Joined: Sep 2016
Posts: 6,480
Likes: 555
Default

If buying from a dealership, they will always finance, but it's best to shop around for the best rates...
Reply
Old Apr 9, 2020 | 08:11 AM
  #30  
grampi50's Avatar
grampi50
Le Mans Master
 
Joined: Sep 2016
Posts: 6,480
Likes: 555
Default

Originally Posted by My Vette Life
If you going to finance an old corvette, I would just go for a C6 at that point and don't pay more than 12k for a c5.
A person isn't going to get a very nice C5 for 12K...at that price it's probably going to be showing its age poorly and/or have high mileage...
Reply
Old Apr 9, 2020 | 10:58 AM
  #31  
My Vette Life's Avatar
My Vette Life
Safety Car
10 Year Member
Liked
Loved
Community Favorite
 
Joined: Mar 2015
Posts: 3,638
Likes: 245
Default

Originally Posted by grampi50
A person isn't going to get a very nice C5 for 12K...at that price it's probably going to be showing its age poorly and/or have high mileage...
in my area you can find them in great shape even some with 80k miles around 12k.

Put it this way c6 in my area start at 16k. Thats a starting price and heck i see c6z under 100k miles at $22k

But thats my area

So i still say 12k max for c5 in terms of value and performance but its to whatever floats his or her boat.
Reply
Old Apr 9, 2020 | 12:30 PM
  #32  
grampi50's Avatar
grampi50
Le Mans Master
 
Joined: Sep 2016
Posts: 6,480
Likes: 555
Default

Originally Posted by My Vette Life
in my area you can find them in great shape even some with 80k miles around 12k.

Put it this way c6 in my area start at 16k. Thats a starting price and heck i see c6z under 100k miles at $22k

But thats my area

So i still say 12k max for c5 in terms of value and performance but its to whatever floats his or her boat.
I guess it depends on what a person is looking for. If you want something as a DD and don't really care what it looks like, then a $12K car would probably be fine. If you're looking for a low mileage, well cared for garage queen, you'll have to spend a lot more...
Reply
Old Apr 9, 2020 | 04:01 PM
  #33  
jackthelad's Avatar
jackthelad
Melting Slicks
10 Year Member
 
Joined: Jun 2013
Posts: 3,473
Likes: 691
From: West Virginia
Default

Originally Posted by My Vette Life
If you going to finance an old corvette, I would just go for a C6 at that point and don't pay more than 12k for a c5.
You are being far too practical.....

Reply




All times are GMT -4. The time now is 11:24 AM.

story-0
10 Ugly Corvettes That We Still Kinda Love

Slideshow: 10 ugly Corvettes that we still kinda love.

By Joe Kucinski | 2026-06-03 10:34:17


VIEW MORE
story-1
Top 10 Most Expensive Corvettes Ever Sold on Bring A Trailer

A lot of money has changed hands at the online auction house over the years.

By Brett Foote | 2026-06-03 10:21:50


VIEW MORE
story-2
10 Things Every Corvette Owner Needs (2026 Edition)

Slideshow: 10 great gifts Corvette enthusiasts actually want for Father's Day!

By Michael S. Palmer | 2026-06-03 15:43:40


VIEW MORE
story-3
8 Most "Only Corvette Owners Understand" Quirks and Problems

Slideshow: These are the quirks, annoyances, and oddly lovable problems that every Corvette owner eventually learns to live with.

By Pouria Savadkouei | 2026-05-28 09:31:39


VIEW MORE
story-4
10 Reasons the C6 Z06 is Still A Performance Benchmark After 20 Years

Slideshow: 10 reasons why the C6 Z06 is still a performance benchmark after 20 years.

By Joe Kucinski | 2026-05-27 17:20:09


VIEW MORE
story-5
How Much Horsepower Every Corvette Engine "LOST" in 1972

Slideshow: How much horsepower every Corvette engine lost in 1972.

By Joe Kucinski | 2026-05-27 16:54:53


VIEW MORE
story-6
Top 10 DOs and DON'Ts for Protecting Your Convertible Top!

Slideshow: How to Protect A Convertible Top: 10 DOs & DON'Ts

By Michael S. Palmer | 2026-04-03 00:00:00


VIEW MORE
story-7
Top 10 Most Explosive Corvettes Ever Made: Power-to-Weight Ratio Ranked!

Slideshow: The 10 most explosive Corvettes ever built based on power-to-weight ratio.

By Joe Kucinski | 2026-05-20 07:23:03


VIEW MORE
story-8
150 hp to 1,250 hp: Every Corvette Generation Compared by the Specs That Matter

Slideshow: From C1 to C8 we compare every Corvette generation by the numbers.

By Joe Kucinski | 2026-05-12 16:54:12


VIEW MORE
story-9
8 Coolest Corvette Pace Cars (and Replicas) of All Time

Slideshow: Some Corvette pace cars became collectible legends, while others perfectly captured the look and attitude of their era.

By Verdad Gallardo | 2026-05-11 09:50:51


VIEW MORE