Financing for C5
Thread Starter
Instructor
Joined: Sep 2012
Posts: 132
Likes: 55
Financing for C5
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 ?
Cruising
Joined: May 2019
Posts: 13
Likes: 2
I had a loan for about 30% of the value of the car from USAA when I bought my C5 Z06 earlier this year. Not a good rate at all, but I've since paid it off. My excuse for not paying cash is I believed the car was exactly what I wanted and the price was right so I jumped on it quickly.
If you are ex-military I think USAA is a good place for auto insurance as well. I believe they only work with ex-military or their family members.
If you are ex-military I think USAA is a good place for auto insurance as well. I believe they only work with ex-military or their family members.
Last edited by MAndretti; Aug 10, 2019 at 11:22 AM.
Instructor
Joined: Dec 2015
Posts: 119
Likes: 21
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.
Instructor
Joined: Dec 2012
Posts: 138
Likes: 52
From: Nebraksa
I would try a credit union. I used Navy Federal Credit Union (I believe you'll need military affiliation to get a membership) to finance my 2004 Tahoe Z71. Given it wasn't a very big loan, and I really only did it for the credit history purposes, they still gave me the loan at 4.34%. Not bad for a 15 year old SUV to a 20 year old with little credit history.
Melting Slicks
Joined: Jan 2016
Posts: 2,398
Likes: 768
From: jefferson texas
I'll second on the above post for Lightstream. I have friends who have used them for older vehicles that most lenders will not touch. Full 100% financing, longer terms and very easy application process for those with good credit.
Team Owner
Joined: Dec 1999
Posts: 34,873
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From: Lacey WA RVN 68-69
NCM Sinkhole Donor
One thing about car loans is that most every lender will require certain insurance coverages on the car. The "lender" will be the legal owner of the car. Loans such as signature loans or personal loans may not require collision and comprehensive coverage.as you will be the legal owner shown on the title.
It would be a good idea to check with a number of credit unions. And your credit history and credit score will also be important to getting a loan, especially at a reasonable percentage.
It would be a good idea to check with a number of credit unions. And your credit history and credit score will also be important to getting a loan, especially at a reasonable percentage.
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Burning Brakes
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From: Panama City, Florida
Just financed mine 1997 with my local CU. They had no problem doing it. They did inspect the car first.