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Question on car loans....please help

Joined
24 May 2000
Messages
299
Location
Altoona, PA
Hello guys,
I have a question, I am trying to purchase a 1994 Toyota twin tubro Supra (with only 11,000 miles). However, no banks will give me a car loan because the car is over 7 years old. I also don't have a house so I can't do a home equity loan. Finally personal loans are too high of percentages. Does anyone know of a way to get a car loan with a decent interest rate for this car? Any help would be very very much appreciated.

Thanks
 
Capital One Auto Finance - formerly People First. Excellent to deal with and no restriction on the age of the car as far as I can tell. Interest rate currently 5.99% out to 60 months with direct debit.
 
Credit unions! Some will only give lowest rates on 98 and up cars and only 60 month term on 98 and up cars. They will give you a point or 2 higher for a older car, and may only go 36 or 48 months.

Others yet, as mine did, gave me 60 months on my 91 NSX at a point higher than a brand new car.
 
Most Credit Unions cater to specific people. In an extreme case, it may be only to people who work for a certain company ex- say there is a DELL Credit Union. An extreme would be that only DELL employees can bank there. This is how Credit Unions first started. Presently most C.U.'s cater to those who live or work in an area, usually by county. I would shop around at a few C.U.'s and find out their membership requirements and then apply for a loan.
 
I'll second the recommendation for peoplefirst (now capital one). I used them for my '95. They never asked anything about the car, just sent me a check. My rate was around 6%, can't remember exactly.
 
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