Financing options and availability?

[Hondatuner20]

I am going to be in the market soon for a 91 with lower miles that will probably end up costing me 27-30k. I plan on putting 10-12k as a down payment and financing the rest. My question is if i will actually be able to get auto loan financing for a car of this age for 15-20k. I know many financing institutions have a lists of qualifying vehicles which usually dont go as far back as 1991. Has anyone found financing for similar amounts for a vehicle of this age, if so where?

 

[docjohn]

http://www.nsxprime.com/forum/showthread.php?t=158683&highlight=penfed

 

[Hondatuner20]

thank you, are there any other financial institutions other than penfed?

 

[ekhonda87]

My credit union was willing to finance up to the "excellent" blue book value ( 40k) on my 92. my credit union will only finance cars as old as 2002, but made an exception due to the car being a collectors car. Took me 10 minutes of fillling out paperwork and they sent me on my way with a fat check. Interest rate was 3%

 

[diddy]

i didnt have any problems financing my 95 through my credit union.

 

[Nefarious]

Standard banks will not touch it because on age, however almost any credit union will offer financing based on blue book value. Good luck!

 

[itrsteve]

thank you, are there any other financial institutions other than penfed?

Of course, but I wouldn't bother looking. Nobody else is going to give you 1.99% on a car this old.

 

[Venom2049]

Penfed is the way, i got approved couple of days ago.

Sent from my SAMSUNG-SGH-I727 using Tapatalk 2

 

[Teej]

Those of you getting approved by your credit union and no penfed, are these "auto" loans or personal loans? Are these maxed at 24 months because of the vehicle age? I know penfed will finance up to 60 months for NSX's regardless of age, as long as they are sub 100k in mileage.

 

[diddy]

Those of you getting approved by your credit union and no penfed, are these "auto" loans or personal loans? Are these maxed at 24 months because of the vehicle age? I know penfed will finance up to 60 months for NSX's regardless of age, as long as they are sub 100k in mileage.

mine was a auto loan. they allow you to max out at 72 months if you want. mine was over 100k.

 

[ekhonda87]

Those of you getting approved by your credit union and no penfed, are these "auto" loans or personal loans? Are these maxed at 24 months because of the vehicle age? I know penfed will finance up to 60 months for NSX's regardless of age, as long as they are sub 100k in mileage.

Mine was an auto loan (60 months). My credit union didnt care about mileage or anything, as long as the blue book on the car was greater than what I was financing.

 

[Teej]

wow..very good to know guys. It all depends on the credit union obviously, but its good to know at least with the NSX and cars alike, that the typical 5 year rule is not in effect for at least some CU's

 

[PHOEN$X]

mine was a auto loan. they allow you to max out at 72 months if you want. mine was over 100k.

What kind of rate did you get? I have a buddy who financed through a local CU because he couldn't get approval through PenFed, and his rate is 7.9% (for a Cadillac, not NSX).

 

[itrsteve]

Those of you getting approved by your credit union and no penfed, are these "auto" loans or personal loans? Are these maxed at 24 months because of the vehicle age? I know penfed will finance up to 60 months for NSX's regardless of age, as long as they are sub 100k in mileage.

You have your facts correct.

Mine was an auto loan, btw. 2.49@60.