boosted98gst Posted June 24, 2009 Report Share Posted June 24, 2009 any places in central ohio that will do loans for an older car? im looking for somthing for my girlfriend's brother he has half the money in cash but needs a small loan to get the car. He wants to build credit. He also has a co signer with very good credit. any help? most banks I thought only did pre 2003 but he does not want anything that much. any help would be great. Quote Link to comment Share on other sites More sharing options...
AudiOn19s Posted June 24, 2009 Report Share Posted June 24, 2009 any places in central ohio that will do loans for an older car? im looking for somthing for my girlfriend's brother he has half the money in cash but needs a small loan to get the car. He wants to build credit. He also has a co signer with very good credit. any help? most banks I thought only did pre 2003 but he does not want anything that much. any help would be great. PM Smokey. I think it was Bank Of America he used to purchase his FD RX-7. They don't car about the age. as long as the loan amount is reasonable for the price of the car. Interest rate wasn't GREAT...but at the same time it wasn't bad either. Quote Link to comment Share on other sites More sharing options...
Buck531 Posted June 24, 2009 Report Share Posted June 24, 2009 I went to telhio for a $2,000 loan last year. Interest was around 5.5% for 2 years. Payment is like 70 bucks a month. I had a good chunk of change to buy the Regal but needed a few more. Quote Link to comment Share on other sites More sharing options...
bbboti Posted June 24, 2009 Report Share Posted June 24, 2009 capital one used to have something on there website about auto loans. it was a pretty easy process if i remember. just fill out a short app. once approved they send you a check in the mail next day. i dont remember any of the guidelines though Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted June 24, 2009 Report Share Posted June 24, 2009 I went to telhio for a $2,000 loan last year. Interest was around 5.5% for 2 years. Payment is like 70 bucks a month. I had a good chunk of change to buy the Regal but needed a few more. Come to the Telhio off Wilson Bridge road and ask for me (Marc). I will set you up with a pre-approval and will more than likely have the best rate. I will be here until 5:30pm. -Marc Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted June 24, 2009 Report Share Posted June 24, 2009 Come to the Telhio off Wilson Bridge road and ask for me (Marc). I will set you up with a pre-approval and will more than likely have the best rate. I will be here until 5:30pm. -Marc Also, bring your social security card and ODL with current address or the most recent utility bill with your name and address as we need to open an account. I'll explain it when you get here. -Marc Quote Link to comment Share on other sites More sharing options...
shotgun Posted June 24, 2009 Report Share Posted June 24, 2009 tell him to think about a personal loan or line of credit. When I was trying to purchase a older vehicle that was the best route available plus most times apr's can be a little bit lower than a auto loan Quote Link to comment Share on other sites More sharing options...
ghost face Posted June 24, 2009 Report Share Posted June 24, 2009 If he is still in school and have a good steady job, tell him to apply for a student loan, that is probably the lowest interest rate out there. Also with citi credit card, and they have this offer that can get you 3% interest for the life of the loan, might want to look into that too. Quote Link to comment Share on other sites More sharing options...
Mr. Jones Posted June 24, 2009 Report Share Posted June 24, 2009 +1 for credit unions. I use First Service Federal credit union. http://www.firstcu.com/ Literally no hassle, and is how I got the S8 so quickly same day. Walked in, and walked back out with a check no problems. Quote Link to comment Share on other sites More sharing options...
Solo Vette Posted June 24, 2009 Report Share Posted June 24, 2009 One other place that used to do it, was First Bank. They had a couple of branches, I know one was in Tiffin. However the Telhio option sounds better. Quote Link to comment Share on other sites More sharing options...
HAOLE Posted June 24, 2009 Report Share Posted June 24, 2009 If you aint payin with that, you cant afford it. My advice is to buy a beater then put the amount of the monthly payment into savings, before to long you have enough to buy with cash. http://www.mediabistro.com/prnewser/original/cash-wad.jpg Quote Link to comment Share on other sites More sharing options...
boosted98gst Posted June 24, 2009 Author Report Share Posted June 24, 2009 he has the cash to pay for it he said he wants to build his credit. paying in cash is the reason why he has no credit. Quote Link to comment Share on other sites More sharing options...
HAOLE Posted June 24, 2009 Report Share Posted June 24, 2009 he has the cash to pay for it he said he wants to build his credit. paying in cash is the reason why he has no credit. Well thats good. 0 credit score is the best! Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted June 24, 2009 Report Share Posted June 24, 2009 Well thats good. 0 credit score is the best! So fucking ignorant. -Marc Quote Link to comment Share on other sites More sharing options...
HAOLE Posted June 25, 2009 Report Share Posted June 25, 2009 So fucking ignorant. -Marc I have done a detailed anaylysis finance and one conclusion that is evident is 100% of cars that are repossessed have liens. Look at the condition of our countries economic system. How did we get here? Because people borrow money from banks for things they cant afford. I see in your profile you work in banking. I am sure you love people to borrow money, it keeps you in business. Borrowing money for cars is not a wise thing to do. If you had to get a loan for the car, you cant afford the car. Think about it. You are paying interest on something that loses value nearly 100% of the time. Not real smart. Remember assets produce income, liabilities steal income. Unless you have some rare car, your car is not a asset. When you lose your job and cant make the note, you will think different about having a bunch of monthly payments. A good friend of mine is a plumber/HVAC contractor, he was at my house last night telling me about a Job that he is doing for a surgeon in Columbus. The Doc is having a geothermal system put into his house and it runs about 14K. When the doc called my friend back to ok the job he ask "do you do financing?" This is a guy that makes about 300-400K per year, maybe more. He has a house that has about 200K in landscaping. Another 200K in cars in the garage, and a second home. Why does he need financing for 14K? Because everything he has is not his, the bank owns it. If you make that much, and cant afford a 14K geo system you are doing something wrong. "Your credit score is your I love debt score"- Dave Ramsey Quote Link to comment Share on other sites More sharing options...
HAOLE Posted June 25, 2009 Report Share Posted June 25, 2009 Come to the Telhio off Wilson Bridge road and ask for me (Marc). I will set you up with a pre-approval and will more than likely have the best rate. I will be here until 5:30pm. -Marc I see the problem Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted June 25, 2009 Report Share Posted June 25, 2009 I see the problem And you're the same asshole that refuses potential life saving vaccines for his children due to your 'professional' ( ) doctorate opinion. Way to be the next Travolta. You are ignorant. Plain and simple. Do you really understand economics or financing? There is such a thing as GOOD DEBT. I SERIOUSLY doubt you paid cash for your home. What's that? Another example of a consumer making a poor choice? People like you make me sick. You stick to your pseudo medicine and I will stick to banking. Kthnxbye. -Marc Quote Link to comment Share on other sites More sharing options...
HAOLE Posted June 25, 2009 Report Share Posted June 25, 2009 And you're the same asshole that refuses potential life saving vaccines for his children due to your 'professional' ( ) doctorate opinion. Way to be the next Travolta. You are ignorant. Plain and simple. Do you really understand economics or financing? There is such a thing as GOOD DEBT. I SERIOUSLY doubt you paid cash for your home. What's that? Another example of a consumer making a poor choice? People like you make me sick. You stick to your pseudo medicine and I will stick to banking. Kthnxbye. -Marc Nice try at a redirect, your as bad as thorne, maybe you should change you name to bugboy. Is that seriously the best you can come up with? Now lets stick to the subject of debt and not get personal. The bottom line is there is no such thing as good debt. That is a line that bankers tell people to convince them it is smart to be a slave to them. The only "acceptable" debt is for a home, for a couple of reasons. First of all, with the exception of a few periods in history real estate increases in value. Secondly, most people will never be able to save enough money to pay cash for a house. For home loans you should not go over a 15 year fixed, and it should be paid down as quick as possible. Banks are one of the most disgusting business around. The lending industry is one of the most heavily marketed aspects of industry. My guess is you don't understand how the US banking system actually works and its history. The indentured servitude that is created by banks is very sad. When you take out that loan with tellhio, your work and income just became theirs. Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted June 25, 2009 Report Share Posted June 25, 2009 Nice try at a redirect, your as bad as thorne, maybe you should change you name to bugboy. Is that seriously the best you can come up with? Now lets stick to the subject of debt and not get personal. The bottom line is there is no such thing as good debt. That is a line that bankers tell people to convince them it is smart to be a slave to them. The only "acceptable" debt is for a home, for a couple of reasons. First of all, with the exception of a few periods in history real estate increases in value. Secondly, most people will never be able to save enough money to pay cash for a house. For home loans you should not go over a 15 year fixed, and it should be paid down as quick as possible. Banks are one of the most disgusting business around. The lending industry is one of the most heavily marketed aspects of industry. My guess is you don't understand how the US banking system actually works and its history. The indentured servitude that is created by banks is very sad. When you take out that loan with tellhio, your work and income just became theirs. I started typing a response and realized how blind you are. Keep thumping your bible and practicing 'medicine' and pretending like you understand finance/economics. I'm done with you. -Marc Quote Link to comment Share on other sites More sharing options...
Qtr_pndr Posted June 25, 2009 Report Share Posted June 25, 2009 just have him do a personal loan for the amount he needs you can ussally get a lower apr with the personal loan also Quote Link to comment Share on other sites More sharing options...
Mr. Jones Posted June 25, 2009 Report Share Posted June 25, 2009 Ok, this thread has gone completely off topic. Some healthy advice has been provided, and then the bickering began. Quote Link to comment Share on other sites More sharing options...
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