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Anyone have any good leads on where I could find a private party car loan.
I have tried eloan.com lendingtree.com and roadloans. They all denied me. But they offered me a loan for 40k if I buy a new car!!!! this sucks..
They let me buy a house, buy a new car and let me get a second car loan if I want but not a stupid private car loan.. what is wrong with banks..
I thought about getting a home equity loan, but the bank is making me wait 6 months so they can reapraise the value of the home..
Have you tried a local lender like Omni American Federal Credit Union? http://www.omniamerican.org/
oh yeah a credit union..
I'm not sure I'm totally understanding what the problem is. You're trying to get a loan to buy a car? What's wrong with a standard bank loan? I'm not seeing how this differs from a "private party" loan. (Then again, I can be a little :geek: sometimes.)
If you're having such a hard time finding someone to extend the credit you need, maybe you should reconsider the purchase. I can't see taking out a home equity loan to finance a depreciating asset.
S.
I have no problem getting a normal car loan, but I dont want to spend 20k on a new car.. and I dont want a cheapy new car either..
I could go to the dealer and bring on a 99 miata tonight for 8k if I wanted.. but I dont want to spend that much..
looks like a new miata is my only option at this point..
Just go to a bank and get pre approved for "$X.XX" amount. Finalize the deal on you car then go to the bank fill out the paper work give the former owner a cashiers check for the car and your done.
I am pre approved right now for 40k, but only at a dealer..
Did you try another source for funding like a local bank or credit union?Quote:
Originally Posted by Tool
I have not tried a local bank.. I am going to hit up the bank of mom tonight..
If mom says no, im just going to get that 99 at the dealer..
As long as your credit isn’t over extended you should be able to get a car loan from any local bank.Quote:
Originally Posted by Tool
It’s pretty easy to do, I already have my line of credit (pre-approval) setup for the loan I just haven't found the replacement for the current POS yet. :wink:
The credit is fine..
Yeah, that's what I did when I bought a Z28 a couple years ago. And my "bank" is a credit union.Quote:
Originally Posted by POS Racing
If my one cousin (the one we don't like to talk about :shock: ) can get a loan for a freakin Boxter then you should be able to get a used car loan for a few $k Just have to find the right place I guess.
The pre-approved method is the best way to go for a used car loan... in fact, after a certain age of vehicle, most banks won't touch it. In fact, they'll usually just offer you a personal signature loan or to open a line of credit with them... much easier than overborrowing from the bank for a new car loan you don't want and safer than borrowing money from a relative. That's a good way to sour a relationship.
Of course, those personal loans often carry significantly higher interest rates, default provisions, etc.
It sounds like you're committed to making this deal go through, come hell or high water. I can understand your enthusiasm, but I would, as 3bean said, avoid taking out a loan from a family member at all costs. Although, by this point, the red mist may be too thick...
S.
Well most likely if my mom gives me the money I wont have to pay it back, but its hard to ask for 4k..
But either way I need a car by next weekend..
Basicly what happend is that my sister is moving in with us for 2 years to go to school.. She is coming from cali.. But my mom doesnt want to buy her a new car, so they asked if she can use my car and they will take over the payments till its paid off and in 2 years we get the car back..
This leaves me with no car, but I still have the loan on my credit.. It does free up 275 a month but I really dont want to pay that on another car loan again..
Not that I'm telling you how to run your personal life, but...
How about this:
You keep your car and make payments on it. Better you be responsible for your own vehicle rather than taking the chance that your sister would wreck it and leave you hanging with the note.
As for the loan/gift of 4K, have your mom give it to your sister and she can pick up a rat ride so that she can get to and from school on her own. Have them consider it a educational grant, if you will, otherwise she can buy a nice bicycle for cheap.
But I hate my car, its a 02 auto CIVIC LX 4 door.. my wife has the cool SUV..
Im more then happy to see the car go away..
Quote:
Originally Posted by Tool
So it's more about ego than need, right?
How about this...
Still have your mom give your sister the money and you stay out of it entirely. She can buy her own car...
You can trade your car in and possibly be upside down but you'd have a car your rather have.
And again, none of my business, but you're married and living at home with mom, or she lives elsewhere?
I have about 4k equity in my car right now.. I live with my wife 2000 miles away from mom and I own my house..
Also mommy helped me with my down payment on the house and they wont let me pay it back so im trying to be nice..