auto loans used car info

[jason longboard]

I use a credit union but they are closed so I cant ask until Monday, but wondering, do they usually give auto loans for cars around 10-12 years old?

I hear most banks dont, so how would I go about getting a 10,000 dollar car around that year if they dont give loans, or would I need a personal loan. Wish I could just call the dang bank, dumb Saturdays lol.

 

[chefjamesscott]

If you are going for a car in that age bracket. Check out auto auctions near you, also take a look on ebay I am pretty sure you will find tonnes of cars near your location.

Another place to hit would be sherif sale of siezed vehicles, they usually go for dirt cheap.

 

[bbortko]

A home equity loan will be a much better rate than a personal loan.

 

[Zoodiver]

Depends on your credit.
Some places will only loan out what they see as 'book value' (don't even get me started on how those are wrong compaired to actual market value).
Some places will take market value into consideration.

The other way to do it is use something for equity or do an unsecured loan (again if credit allows). You'll pay high rates on things like that, though.
Another option for some is go through a dealer for financing. You'll pay for it though in a higher car price, but it might be worth less hassle if you find the right car.

 

[krichardson]

If you are going for a car in that age bracket. Check out auto auctions near you, also take a look on ebay I am pretty sure you will find tonnes of cars near your location.

Another place to hit would be sherif sale of siezed vehicles, they usually go for dirt cheap.

It sounds like he already has a particular car in mind and is now looking into funding for it.

 

[jason longboard]

nah, zoodiver knows though Im looking at used mustangs, around 2000-2004