Lenders to finance 4th gen F-body

Corbic

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Depending on mileage and condition, Id like to stay around 10K-12K. If its an exceptional condition 1 owner Id go 15K. If its a Trap-ass Ho, but under miles to get a loan on, 5-6K.

Id love to own a Corvette someday. After sitting down and asking myself why I wanted an LS based car, what I wanted to do with it and how I wanted to build it, a C5 and C6 with their Front Engine/Rear trans setup just simply will not work. Add to it that the strongest differential available is the C6 Z06 diff, its not going to be the solution for me.



Ive found some reasonably priced examples, and a few overpriced ones. The WS6, 6M 1 owners are fetching the highest, but the Autos seem to be a little cheaper. WS6 is cool but doesnt offer anything substantive over the TA than the Hood and badging. A few extra HP is meh.

Id want a Formula or Trans Am. The right price on a great condition Camaro SS would get me to take a serious look. A Z28 would be the last of the 4 options.

This car is also going to be my daily, not just my race car. While a roller is something I thought about, I dont want to dick with it all at once. Id like a nice car and mod as I go. Its also go to be a factory LS1/Auto. I dont want to have to mess with locating correct harnesses and such.


Acutally took a look at that exact car last week. She's been around the block and not perfect but it would be an ok start. Miles are too high though, no bank will loan on it. Id only want to offer like 4K max. If they did take it a personal loan might work but I want a car in a little better condition.

PenFed has not model year limits on their loans, but have a hard cap on miles at 125K. For my purposes thats completely reasonable. Ill certainly be looking into Lightstream!
Most of these classic loans are going to require a minimum $10k.

If your looking in the sub $10k, better to try for a personal loan.
 

Blown 89

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That's not something I'd finance but if you're hell bent on financing a quick google search will yeild the lowest percentages. The services have some insanely low rates as do a few credit unions.
 

Corbic

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Good luck OP. Personally this would be something I would pay cash for. Be sure to show pics of whatever you get.
That's not something I'd finance but if you're hell bent on financing a quick google search will yeild the lowest percentages. The services have some insanely low rates as do a few credit unions.
Who knows his financial situation.

36/M 6% Loan for $7k on a used Camaro is probably smarter than $52k 2.5% 96/M loan on a new one.

It's probably also smarter then emptying the savings account and having to use a 15-28% Credit Card in two months when you need a roof repair, gold crown or whatever cause you have no liquid cash.
 

me32

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Who knows his financial situation.

36/M 6% Loan for $7k on a used Camaro is probably smarter than $52k 2.5% 96/M loan on a new one.

It's probably also smarter then emptying the savings account and having to use a 15-28% Credit Card in two months when you need a roof repair, gold crown or whatever cause you have no liquid cash.

Well based on a certain financial situation it also may not be good to buy at all.
 

rotor_powerd

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Who knows his financial situation.

36/M 6% Loan for $7k on a used Camaro is probably smarter than $52k 2.5% 96/M loan on a new one.

It's probably also smarter then emptying the savings account and having to use a 15-28% Credit Card in two months when you need a roof repair, gold crown or whatever cause you have no liquid cash.

I would say that if a $12k purchase causes you to empty your savings account then you shouldn’t be spending $12k on a toy. But this is also a performance car forum and Lord knows I’ve made my fair share of dumb decisions, so no judgement passed here. After all, life is short.
 

RedVenom48

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Truth be told, my GT500 was and is to be my largest car purchase. I was able to put a large chunk down and get a great interest rate. All said and told, I made the payments and have nearly got it done. A few hundred a month for 3 years isnt something Im terribly concerned with. Compared to the payment Im about done making, its a breeze.

Excursion was a cash purchase, 1 credit card with just over 1K to pay down. No other debt. Personal choices in life didnt get me to a 6 figure salary, but Im ok with that. I live comfortably with my family and thats all I can really ask for.

Sides, its cheaper than trying to build the GT500... :D
 

Double"O"

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Not trying to be a dick but ...if you have to finance a 20 year old f body you need to reevaluate a few things

Seriously, save up for as long as you need to and pay cash for it...you should have problems finding a decent fbody in however long it takes to save the cash
 

Corbic

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Not trying to be a dick but ...if you have to finance a 20 year old f body you need to reevaluate a few things

Seriously, save up for as long as you need to and pay cash for it...you should have problems finding a decent fbody in however long it takes to save the cash
Math don't work son.

$10k x 3yrs @ 6% = $10,951.90

$10,000 in 2017 is $10,671.59 in 2021, 6.7% inflation.

So by saving to buy you'll actually only be saving $300.

Additionally, all these cars will now be 3 years older and just that much harder to find in the same condition they are in today.

Further more, based on some of the meteoric rises in prices from 80's and 90's cars... A $10k example today could easily be fetching $15k 3 years from now.

And lastly, Dr David Ramsey, without doing a full forensic review of the OPs finances, who knows and who cares what he does. Can't be any dumber then half the people buying brand new $50k Carmaros. Ain't none of them saving up.
 

RedVenom48

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Not trying to be a dick but ...if you have to finance a 20 year old f body you need to reevaluate a few things

Seriously, save up for as long as you need to and pay cash for it...you should have problems finding a decent fbody in however long it takes to save the cash
I totally get where you are coming from, and no offense taken. But, imagine my shock when I saw that cleanish, unmodified examples of these cars going for 10K-15K. Clean 1 owner 6 spd WS6's are going for 30k now.

If it were 3-5K, Id be inclined to suck it up, save up for a bit and pay cash. 3-5k might get a clapped out V6 now. 7-8K for LS powered well used versions.

I thought about going with a 5th Gen Camaro but its too heavy, no t-tops, 4L80 swap is a PITA, a 9" swap pretty much wont happen. Also, I still just dont think it looks good. Ill admit, there is a bit of nostalgia with these 4th Gens as well for me. Id forgotten over the years how much I wanted one as a high school lad. And I totally get why clean Fox bodies are getting stupid money now.

So, when Im ready Ill apply for loans from institutions that are willing to loan on these older cars. Who knows though, I may stumble across a 4th gen LS powered car that needs a lot of work mechanically and I can buy it for a steal. Im on board with that if it pops up.
 

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