Quote:
Originally Posted by Red Ryder
Having a hard time finding a loan for this car, nobody wants to touch a 14 year old car from out of state even though I have an excellent credit score/history and not much debt. But that doesn't help much as interest rates are around 7% for it. I went to my bank first and they said since hte car is older than 7 years it would require a personal loan with a high rate. Kemba had a great loan offer until I told them the car was out of state, then that rate went up too.
What lenders have others used? I'm going to call Lightstream or whatever it is, and maybe Quicken.
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Get a loan through PenFed. They are technically a military and/or government credit union but all you have to do is donate $15 and then you become a member. They will finance any model year. I just financed my 2001 E46 M3 from them and I bought it out of state. Interest was also very low.
By the way - I think $10K is way too much for that car. Unless its mechanically pristine and the dings and dents are very minor, I wouldn't pay more than $8K for it.
Any accidents? How's the carfax report? I would be happy to run a carfax for you if you haven't seen it yet.