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Financing for a used C5

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Old May 8, 2022 | 02:59 PM
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Default Financing for a used C5

A used car from a private party?

I’m considering selling mine at a good price.

A good price, possibly better than it’s worth
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Old May 8, 2022 | 04:05 PM
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If the buyer has good credit and is a member of a credit union, a lot of credit unions will waive the age limitation of the vehicle when buying a corvette or anything else they can justify the value being great than the loan amount.

At least that was my experience.

I actually had a small loan on my 97 for a year or so back in 2018 and had no problems getting said loan.

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Old May 8, 2022 | 04:08 PM
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Originally Posted by Mr. Black
If the buyer has good credit and is a member of a credit union, a lot of credit unions will waive the age limitation of the vehicle when buying a corvette or anything else they can justify the value being great than the loan amount.

At least that was my experience.

I actually had a small loan on my 97 for a year or so back in 2018 and had no problems getting said loan.
Exactly! I've actually taken out a loan at my Credit Union against my C5's value. I have an LS7 in it. Since car was paid off, I borrowed against the value, or equity(?), to "fix" () my LS7 heads......
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Old May 8, 2022 | 08:41 PM
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Guy I bought my C5Z from had a loan from Credit Union of TX.
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Old May 8, 2022 | 09:37 PM
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I don’t know how it could possibly get any easier than LightStream. I had 8% with Navy Federal. They would only give me a secure personal loan because the car was over 20 yrs.
Refinanced with LightStream at 3.8% unsecured. Easiest loan process I have ever been through.
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Old May 9, 2022 | 09:14 AM
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Yes, light stream does not put a lien on the car. But their rates are about the same as you would get with a traditional loan.
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Old May 9, 2022 | 09:19 AM
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I haven’t personally use them but the lady that bought my ZO6 financed it through JJ Best Financial.
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Old May 9, 2022 | 09:34 AM
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Originally Posted by DallasLoneStar
Yes, light stream does not put a lien on the car. But their rates are about the same as you would get with a traditional loan.
I bought my dually using Lightstream for financing and their rate was way below what several local banks were offering me. I think a person's credit rating has a lot to do with the rate they quote you.
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Old May 9, 2022 | 10:14 AM
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I have found that credit unions tend to be easier to work with on financing older specialty vehicles. Of course there are always exceptions to that.
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Old May 9, 2022 | 01:41 PM
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Lightstream requires excellent credit. They turn down a lot of average borrowers.
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Old May 9, 2022 | 04:07 PM
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Thanks guys for the info
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