Car Financing Options.. Is it safe to come out yet? Lexus Certified Pre-Owned?

Airwolf NSX

Airwolf NSX

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Location
Irvine, CA
Are credit markets still frozen?

I know this may ill-timed, but my sister needs to purchase a vehicle. She's thinking about going for a used Lexus Certified Pre-Owned because Lexus states it can get you NEW FINANCING rates for CPO vehicles.

http://cars.dealer123.com/Lexus-of-Westminster/2006-Lexus-GS-300--1009-291181.html

http://www.lexus.com/cpo/overview/cpo_program_comparison.html



Or second option is looking for loan somewhere and finding a vehicle through private party but i think this may be a harder option..

Any input would be great.
 
Not all the banks are having loan issues.

Also, if the loan is done through a car manufacture, most likely they might have their own bank/loan system. That is one way for them to make additional money. Also they might offer better rates than what the bank can do. Doesn't hurt to sit down with them and see what they have to say.
 
It is easy to read or listen to the media and believe that credit markets are frozen and that it is all but impossible to get a loan for anything, but that is hardly the case. Nearly a millions new cars were sold in September and I would bet that the vast percentage were finances. I have no idea now many used cars were sold in September, but it is most certainly in the 100's of thousands and I'd bet that at least 50% were financed. 464,000 houses were sold (closed) in September - again, I'd bet that 90% were financed.

If you (or your sister) have good credit, getting a loan today is very doable.
 
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