financing a car sucks.

[jmd]

i have been researching financing a car. even with good credit you cannot finance a car with a bank if the car is older than 2003, forget financing a classic car. capital one claims to finance classic cars but when you call them they say they no longer finance classic cars. it has been very frustrating trying to buy a new toy. i found a sweet deal this weekend and only needed to finance 5000 dollars. i had the rest. bank of america said i would need to apply for a credit card and borrow money off of it. the instrest rate would be 12% plus prime rate and to borrow money off of it is a additional 5%. total 19%. what happened to the good old days when you could go to your bank and borrow money if you are a customer?

[clubracergt1]

Credit union, man. From what I understand, it is only $10 to join SC Federal.

[chrisheltra]

Hell if you only need 5k look into getting a personal loan. lol

[Ballaholic29414]

X2. You get dividens also

[MonteC]

Ive always gotten personal loans from SC federal without a problem. The interest rate is usually double what a used car rate is but then again 5k isnt that much to finance and if you pay higher than the minimum payment then the interest wont really eat you up.

[BAD BOB]

sc fed work good for me even when the bank that my fam has been with for years with the business couldnt do anything for me

[jmd]

Hell if you only need 5k look into getting a personal loan. lol

see above. i though my bank would do this. they only do house, new car, dealer car greater than 2003, boat. maybe i should have told them it was a boat. lol

[Illusions]

credit unions also seem to have better interest rates.

[jmd]

i will try sc fed.

[LXtasy]

i got my truck a 2000 model financed with no problems. but that was dealership. if vehicle has over 100k miles or just high mileage banks wont finance

[chrisheltra]

You need to join a credit union. I got a personal loan not long ago for 6k in a matter of a couple of hours with a very reasonable interest rate.

[04ctd]

call Lawson Lewis

First Citizens on 78 across from CSU.

843.572.3186

he keeps me in single digit financing.

john

[Silver-Dollar]

Also try Heritage Trust.

Do you have a HELOC (Home Equity Line of Credit)?

[1998ta__1991rs]

sc federal isnt too bad, their personal loans are between 9-13% usually

try getting a home equity line, all the interest is tax deductable

[Silver-Dollar]

Here are HTFCU rates. Not sure how old of a vehicle they will finance.

https://www.heritagetrust.org/rate_fee_schedule.htm#Auto_loan

[chrisheltra]

Carolinas Telco is offering personal loans for up to 15k for as long as 60 months for as low as 8.25%.

These are Carolinas Telco's rates for new and used cars right now I dont know if they will finance a car as old as you want. of coarse you have to qualify for these rates and be a member.

36 Months -- 3.450%
48 Months -- 3.550%
60 Months -- 3.700%
72 Months -- 3.850%
84 Months -- 4.000%

[Matts94Z28]

SC Federal. I had 8% on my 01 Camaro and I have 6% on my Yukon.

[Carlrx7]

i call up my credit card company and tell them im going to make a big purchase. so they send me check with a lower intrest rate 4.9% fixed. ive done it a couple times.. on a car. supercharger. and a lawyer.. =)

-carl

[LadyInRed]

I liked First Citizens. We called them about for that RSX a few months ago, and it was 8% for 3 years.

[bwelch]

My dad use to buy cars off credit cards. What you do is get a cash advance on one card? Then find another company that gives 0% interest on balance transfer from other cards If you get a card from them for the first year. Then cancel the card u originally got the advance on. When your interest free year runs out do it again.

[formgen]

citi bank is doing a promotion with 0% for 15 months with all purchases, transfers, and cash advances!!

i have been researching financing a car. even with good credit you cannot finance a car with a bank if the car is older than 2003, forget financing a classic car. capital one claims to finance classic cars but when you call them they say they no longer finance classic cars. it has been very frustrating trying to buy a new toy. i found a sweet deal this weekend and only needed to finance 5000 dollars. i had the rest. bank of america said i would need to apply for a credit card and borrow money off of it. the instrest rate would be 12% plus prime rate and to borrow money off of it is a additional 5%. total 19%. what happened to the good old days when you could go to your bank and borrow money if you are a customer?

[FRDnemesis]

My dad use to buy cars off credit cards. What you do is get a cash advance on one card? Then find another company that gives 0% interest on balance transfer from other cards If you get a card from them for the first year. Then cancel the card u originally got the advance on. When your interest free year runs out do it again.



My siser-in-law bought her volvo that way and did balance transfers at 0% until it was paid off! :mrgreen:

[jmd]

tks for all the advice everyone. i will get to work on these suggestions.

[clubracergt1]

i call up my credit card company and tell them im going to make a big purchase. so they send me check with a lower intrest rate 4.9% fixed. ive done it a couple times.. on a car. supercharger. and a lawyer.. =)

-carl

Paying for a divorce after the car and supercharger??? j/k, couldn't resist