Im trying to buy a 95 m3. No banks or Online auto loan companies will give me loan because the car is "too old". Where do i get a loan? i need 7500$ any suggestions?

try to get personal loan instead of auto loan? and there are other online loan companies. not auto loan.

Personal loan from your bank.

I would recommend checking with several of the credit unions in your area to see if 1) you are eligible for membership and 2) what finance options they offer. Credit unions tend to offer competitive consumer rates, but this will vary from one to another.

I'm not sure what their exact guidelines will be for used cars, but typically they do finance used cars, but the term may be shorter (max of 36 months instead of much longer for a new car), the rate may be a little higher, and they may require a lower loan to value (that is, they won't lend you 100% of the cost but something less than that). Again it will all depend on the credit union, and don't be discouraged just because the first can't do it for you. Different institutions have different business models and risk tolerances - just keep asking around.

Also, as previously mentioned, you may be able to borrow unsecured. That's definitely easier, and it leaves it up to you as to how much insurance you want to carry.

Good luck!

Get a student loan if your in college or have someone close to you that is and willing to help you out.

Do yourself a favor and don't buy a 14 year old car that you can't afford.

Do yourself a favor and don't buy a 14 year old car that you can't afford.

+1

As an alternative, if your credit is great then you can get a 0% balance transfer loan from a credit card. Then make every effort to pay off the balance before the introductory rate is up.

Im trying to buy a 95 m3. No banks or Online auto loan companies will give me loan because the car is "too old". Where do i get a loan? i need 7500$ any suggestions?
My buddy did this I think the minimum on the loan is 7.5k.
Kevin
http://www.capitalone.com/autoloans/

My buddy did this I think the minimum on the loan is 7.5k.
Kevin
http://www.capitalone.com/autoloans/

+1 I did this to buy my '92 535 last year.

hey man I shot you a pm awhile back do you still have those wheels?
Kevin

Invite yourself over to M3Bill's house. Look in his couch cushions. Problem solved.

Loan Shark

Invite yourself over to ARBill's house. Look in his couch cushions. Problem solved.

Corrected.

Corrected.

:lol 3MoBill :D

hey man I shot you a pm awhile back do you still have those wheels?
Kevin

No, I sold them to Todd at TCD a couple months ago. I still need the headliner done so shoot me a price and we'll work something out.

Invite yourself over to M3Bill's house. Look in his couch cushions. Problem solved.

:rofl:


Corrected.

:confused

:lol 3MoBill :D

:confused

Credit Unions "usually" have a 5 year old, 15k miles per year limit. At least my credit union does anyway. (Atlanta City employees credit union)

Personal loan, or a really good friend is your best bet..........or buy a $2500 accord, and save.

Get a cheap used Camry and wear it out until you can afford to pay cash for a car like that.

well i guess i will have to sell my e30 first. anybody want a e30 with an m52 in it?

I got a loan for part of my 10 year old E36 through USAA.

If you qualify, I highly recommend joining.

If you live in Fulton Co. Become a member of Georgia's Own Credit Union, formerly GA. Telco Credit Union. You can become a member now if you live in Fulton, which is really cool. If you have strong enough credit they will lend you money for a Model T.

I see that you live in L'ville. If you use jackson EMC for your power, you can join Associated credit union. As others have stated, they are the best to use if they offer the loan you are looking for. They also have the best rates.

Check it out at http://www.jacksonemc.com/Credit-Union.acu.0.html

Good Luck

-scott


Im trying to buy a 95 m3. No banks or Online auto loan companies will give me loan because the car is "too old". Where do i get a loan? i need 7500$ any suggestions?

Just this past month, I got a 11k loan from Georgia's Own Credit Union for a 1997 e39. I paid 9.5k and the refinanced it for me down to a year. I would check with them. Super friendly and they have a 7.1% fixed APR.

How's old is the car? I bought my '97 M3 with an autoloan from my bank.

Im trying to buy a 95 m3. No banks or Online auto loan companies will give me loan because the car is "too old". Where do i get a loan? i need 7500$ any suggestions?

How's old is the car? I bought my '97 M3 with an autoloan from my bank.

G'morning :wave

G'morning :wave

Reading really is fundamental. :rofl:

G'morning :wave

:rofl: :rofl:

R.I.F. = Reading Is Frustrating

Get a loan for at least 9500 because of the usual repairs and regular MAINTANIANCE that is required for a 13 year old car. .02

It's a bummer sometimes because you can get some really great cars that are a few years old and still viable rides for very reasonable prices... but the normal lenders won't float the cash for the car based on the model year. I remember reading in R&T once their used car classic bit about some old Ferraris for like ten or fifteen grand. Now I'm no dope (mostly). I know that a $15K Ferrari is probably like a free dog... but it sure got me thinking.
I really would like to have a FD RX-7 but they're in that slot where they cost too much to pay cash and it doesn't make sense to borrow that much.

Eloan? They did my 99 M3 without any issues, and didn't care at all about the age of the car.