Best Collector Car Lending?
- Thread starter Nukem1040
- Start date
Other than Penfed, I’ve heard good things about Suntrust: Classic Car Loans & Financing | SunTrust Loans
Just doing both of these company’s free calculator, interest is 6.5%-7.5%APR. payments would be pretty high with that interest. JJBest.com seems to be around 3.99%APR. anyone deal with them?
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could be a completely different story once you apply ... penfed wont play games and they usually have super low rates ,...
That’s good to know. Now, I’m wondering if your car loan shopping has the same rules as a home mortgage shopping. Once you run your credit at one home loan, it won’t ding your credit within a 30 day window to allow you to shop for the best rates.
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I would personally contact each lender to find out there actual rates for the day. I do not recommend running your credit at multiple places. When you find a lender that can meet the rates your wanting then apply.
Lightstream doesn’t hold the title and doesn’t have stipulations on what you purchase. They just wire the cash into your account. No prepayment and good rates.
As others have said, Lightstream and no matter what you're using it for, just choose the 'used car from dealer' option for the lowest rate.
I've had a handful of loans from them and never ONCE has there been any follow up after wiring the money into my account to see what I used the money for. Actually just took out one the other day to buy potentially a C6 and remodel our master bath.
I've had a handful of loans from them and never ONCE has there been any follow up after wiring the money into my account to see what I used the money for. Actually just took out one the other day to buy potentially a C6 and remodel our master bath.
Just FYI to OP, Lightstream and Suntrust are the same company.
Yes it's the same. They typically count multiple hard inquiries on credit for autos within a 30-45 day window as a single inquiry on your credit. Hard inquiries don't ding your credit score as much as they used to if you have a decently long credit history.
Still, I'd get rates and terms before letting them pull your credit and only let them do it when you're absolutely ready to buy.
Thanks a lot guys! Looks like I’ll be calling Lightstream,Suntrust, Penfed, and JJ Best to weigh all three options. I 100% like the fact that Suntrust sends the money, no questions asked, and does NOT put a lien on the title.
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You're in an excellent tier. I would expect the lowest interest rate you're probably going to get is 6% only because anything used is typically 6% and higher
I have used a personal loan from Discover multiple times for toy cars.
6% interest rate, no questions asked and up to 30k deposited into your account no questions asked...
pay it off early and interest is not too bad.
It’s nice to have the title and no lien.
6% interest rate, no questions asked and up to 30k deposited into your account no questions asked...
pay it off early and interest is not too bad.
It’s nice to have the title and no lien.
Whatcha gonna get? Truck, hot rod, low mile Foxbody coupe??
Dam makes me wanna call to get a loan I've been wanting a 64 impala for a long time. Something about that long straight boat gets me everytime I see one.
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