I've been considering purchasing a few potential 91-93 NSXs in the past few weeks but had to past them up because my credit union wouldn't finance me for a vehicle older than 1995 without an outrageous interest rate. This just bites big time because I've come across quite a few excellent condition 91 and 92s. Anybody else have the same situation? Any banks that would give you a decent interest for a pre-95 vehicle? Well, at least I'll be getting at a targa.
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Auto loans for vehicles older than 1995
- Thread starter 93B18
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www.jjbest.com
Great service...I dealt with them when I was in the process of buying a Skyline GT-R
www.peoplefirst.com
They give out car loans strictly on value and not the year of the car etc.
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Jay
'91 Red/Ivory (Sold)
'96 Red/Black
Great service...I dealt with them when I was in the process of buying a Skyline GT-R
www.peoplefirst.com
They give out car loans strictly on value and not the year of the car etc.
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Jay
'91 Red/Ivory (Sold)
'96 Red/Black
Thanks Jay.
Wow, I used JJBest 4 years ago & refered them to someone in a similar thread a long time ago. I wonder if they have spread thru word of mouth from that thread? I bet they have financed more '91-'94 NSXes than any other institution. Sean was my rep & was very efficient & easy to deal with, this was 4 years ago & internet lenders like People First was in its infancy. JJ Best will be less stringent w/ your income & credit, but the tradeoff is a higher % rate, I think 10% APR. I recently refinanced w/ People First at 5.75% on my '91 NSX. Let us know how it goes.
I thought about "peoplefirst" but I know many that were not happy with them + I got a lower rate of 5.25% elsewhere.
May I ask where you got your auto loan?
And what kinds of issues are some having with peoplefirst? TIA.
And what kinds of issues are some having with peoplefirst? TIA.
Thanks to NSXprime for all of your help. I just refinanced through Peopefirst.com and got 6% rate vs. the 12% rate I previously had. It is frustrating that no matter how good your credit is, banks will give you the unsecured rate for vehicles older than 1995.
I just financed a '91 NSX for 72 months at 4.75% through the Star one credit union. It used to be the Lockheed credit union in Sunnyvale. They accept members if they live or work in Santa Clara county. Older cars need to be in some sort of "distinctive car" guide and the NSX clearly fit that. They loan about $22K on the '91.
No issues w/ Peoplefirst here. Totally satisfied. They require just about perfect credit and automatic payment to get the best interest rate. Payed something like $12 to $15 to have the check overnighted. Whole process took about an hour and the check was at my door the next day.
Screw PeopleFirst.
People there are a pain in the ass and were not willing to work with me. I have great credit.
Do yourself a favor and bypass all that headache. Go with JJBest. Great customer service to go with it.
People there are a pain in the ass and were not willing to work with me. I have great credit.
Do yourself a favor and bypass all that headache. Go with JJBest. Great customer service to go with it.
I recommend Peoplefirst to customers all the time and have never heard a complaint from someone with EXCELLENT credit. If you don't have excellent credit, they are not the company for you. They are easy to work with and do deliver as promised. Good rates and terms as well.
I must agree with all of the positive comments about PeopleFirst. I emailed my application at 6:30 PM last Wednesday. In 15 minutes a polite, knowledgeable and professional representative called me and asked a few questions. She then told me I was approved. Today I received the "Blank Check" and went over the paperwork (hey, I am an attorney, I am compelled to look over every small detail). I was expecting to find all kinds of harsh legal language, but was pleasantly surprised how simple, and reasonable the documents were. All I have left to do is go pick up the car, and sign the documents. So far, I couldn't be happier, or even think of what PeopleFirst could have done to make me happier. I am in no way compensated or involved with PeopleFirst, this is just an opinion.
[This message has been edited by 9000RPMan (edited 19 February 2003).]
[This message has been edited by 9000RPMan (edited 19 February 2003).]
Thanks for the replies fellas. I will try peoplefirst first since they have a good reputation for most here. I have pretty good credit so it shouldn't be a problem. Starone with the 4.75% rate sounds really enticing but from what someone posted here, it sounds like they go by low blue book of the vehicle and not the actual price? Do most companies such as peoplesoft, jjbest, etc go by a certain book, ie edmunds, kbb, to judge how much they will give you for a certain vehicle? Or do they base it on how much you qualify for? TIA for the replies.
With Peoplefirst I just told 'em how much I needed and the blank check was good for $7500 to I think $37000. You set max amount and go shopping. (left plenty of room for myself) Make the check out to whomever you purchase from. Next month the amount comes out of your bank account.
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