Has anybody bought a terminator lately? Call it a midlife crisis. I think it’s time. I’ve wanted one since they came out. My question is, these cars are 20 years old now. They’ve gotta be getting difficult to finance right? Can a guy still get a 60 month loan on one?
Financing a 03/04 Cobra
- Thread starter 13'5.0
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I believe some credit unions and such will
10000% go to Nick for any financing, or car deals. He’s the man. @13COBRA
Don’t worry man, hoping by next year I’ll be in the market for my GT350.
Don’t worry man, hoping by next year I’ll be in the market for my GT350.
I financed mine in early 2021. I put down quite a bit. It’s almost paid off. Mine is through a regional bank :/ dealer set it all up.
With interest rates being 8.2% for good credit I’d be worried about that shit. It’s scary as hell these days.
what kind of interest do you typically see for these types of loans?
If the car is 30k, what can you expect to pay per month?
how does the insurance work? Some insurance companies may not offee you full coverage on a classic.
If the car is 30k, what can you expect to pay per month?
how does the insurance work? Some insurance companies may not offee you full coverage on a classic.
I got 5%, 60 months. Put a good chunk down. I pay extra every month. Have put large chunks down on the principle….my payment is $295 a month. Not much left at this point.
Insurance wasn’t a problem at all.
This was only 2 years ago so who knows…rates will be insane either way. Financing anything right now sucks.
Insurance wasn’t a problem at all.
This was only 2 years ago so who knows…rates will be insane either way. Financing anything right now sucks.
Open to just about anything other than a vert. Sorry man. 8500 miles I’m sure it’s way nice and out of my price range anyway. $25,000 is prob my max. Trying to keep my payment around the $500 mark
I financed mine last July at 18 years old with no credit history. I didn't need a co-signer or anything. I had a good size down-payment, $18K, and the car was $30K. The dealership set up it all up with a bank called Westlake Financial on a 3 year loan, steep interest rate, but I've over paid on it a lot every month so it's not too bad. I've heard for years that these cars are very hard to finance but surprisingly I got approved.
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I imagine it was all that money down. Makes the bank feel all warm and fuzzy.
I figured they probably thought I wouldn't be able to make the payments, I'd end up owing them a bunch of money and they'd get to come repo the car and sell it again but in less than a year I am now close to having it paid off.
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High down payments + higher than normal APR is definitely a big plus for some lenders. Westlake Financial does have higher than normal max APRs.
Makes sense, it was really a win for them no matter what happened with me.
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Man, with these rates and down payments I’ll start lending the money out 
Sounds good to me!Man, with these rates and down payments I’ll start lending the money out
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Lightstream will finance and rates aren't terrible. I was at 4.19% on mine. After I paid of the M4 I had a similar predicament and had always always wanted an 03/04 Cobra.... so I bought one
$25K seems light in todays world.
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