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3.1cutlass

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So far best places that i've found are credit unions. Most banks will only go back 7 years (if you are lucky) and under 100k miles.

 

Here's a few you can call up:

 

TelHio - http://www.telhio.org

BMI - http://www.bmifcu.org/

Kemba - http://www.kemba.org/

 

Good luck!

 

-D

 

It also depends on how much credit you have and how good it is. I tried to get a 7k loan for a 9-2x Aero from all of those places so I would finally have a nice daily, but they all told me my credit wasn't good enough. They said I had a good score, but it was mostly because of my student loans, and I don't have anyone that could co-sign for me. :\

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Yeah I am not sure on my credit score, the only payments I have made towards anything are some credit cards. I am most likely going to have to get a co-signer due to that which will probably be one of my parents.
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It also depends on how much credit you have and how good it is. I tried to get a 7k loan for a 9-2x Aero from all of those places so I would finally have a nice daily, but they all told me my credit wasn't good enough. They said I had a good score, but it was mostly because of my student loans, and I don't have anyone that could co-sign for me. :\

 

Yes, very good point! I just assumed that credit was not a problem. :) DUH!

 

Better the credit, better the rate. Of course on older cars, the rate will obviously be higher no matter where you go, given that you are approved.

 

 

-D

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Yeah I am not sure on my credit score, the only payments I have made towards anything are some credit cards. I am most likely going to have to get a co-signer due to that which will probably be one of my parents.

 

If you have a credit worthy co-signer you shouldn't have much of a problem. As everyone said though most banks won't do older/high milage cars/etc.

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You also have to understand that any credit union or bank will go by book value of the vehicle. They will give you 90% of retail value or 100% of clean trade in value for the car, whatever is less. So the car has to be worth for what you are buying it for. If it is an older collector vehicle than you will have to get an appraisal done on the vehicle and submit that for a loan because older cars normally don't "book out" all that well.
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Another way to go about it is to just take out a personal loan but, you would probably need some other type of collateral. Ive only had loans with PNC (back when they were national city) and 5/3rd. Both offered great rates and were easy to work with. Actually my first loan through national city was on an 11 year old car with over 100k but, they were only able to do like a 24 or 36 month loan on it.
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Sadly, a co-signer can be a must.

 

Back when I was 19/20, I wanted to get a very small loan for a bike. I had just paid off a 3 year loan on my car from that bank in a hair over a year. I was asking less than half of that loan amount for the same length of time. One would assume I should get the loan - no dings on my credit, I proved to that bank to be an excellent payer. Their answer: nope, not without a co-signer. They didn't get my business.

 

Credit is a PITA to build, and one you have it, make sure to protect it. Credit union is probably your best bet. That said, I have several co-workers who are members of Kemba, and they all have consistently said that credit union does not have their shit together. But I guess if you are only getting a loan it may be okay, but I wouldn't bank there!

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Yeah I have no intentions of being a credit union member but my mom is a member of the Auto Workers Credit Union and will try through them with my mom as a co-signer. I have bought 3 bicycles on a credit card all over $1200 and payed them off with no missed or late payments. Other than that I just have a regular credit card I use for gas and such.
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