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#1
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Get a Loan for an older car
Quick questions. I have been looking for a Jeep and found one for $11,500 but it's a 1986. However the body has been redone and has a new engine with only $7,000 miles. It looks great. I got a loan from RoadLoans (E-loans sent me there) but they said they couldn't give me a loan if the car was older than 2001. I have started to find this at almost all the loan places or a few that wouldn't loan to me cause of my bad 615 credit score. Does anyone know a good site that I could try? One that will loan to low scorers and let you get something older?
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#2
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Re: Get a Loan for an older car
Have you tried a local credit union? They can be more lenient in credit terms and have more loan products available to meet your needs than a bank. One of our credit unions offers loans on older, classic cars, I'm not sure if you have to meet certain criteria,(i.e. vehicle 25 years or older, or appraisal of vehicle's value.) You might be able to get a personal loan to purchase the Jeep, but maybe with your lower credit score may have to pay a higher APR. It pays to compare all options from all your sources,(banks credit unions, online, etc.)
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