Cobra loan?????

[boostin212's]

I haven't owned a mustang in a while and have had the itch to get another. I found a car I liked and wanted to get a loan. The car is a 1998 vert 33000 miles. I went to my bank to apply and told me they could not do a loan for something older than 2007. It seems everywhere else I've gone has basically said the same thing. Has anyone else had this problem? Did you end up finding someplace that would lend? I may have to just wait and save

 

[Blk04L]

the search tool is so-so here, but I know there was a similar thread about loans for older cars under a month ago in this subforum. Try looking for that thread. There are options out there.

 

[Dominican_7]

Have you considered a personal loan.

 

[03cobra#694]

Not the same year, but maybe some helpful info inside.

http://www.svtperformance.com/forums/showthread.php?1034807-getting-a-loan-for-a-cobra

 

[99cobrablack]

My credit union and bank doesn't care. I just went and talked to them about a excursion. They cut the term back to. 48 month maximum but other than that it's not bad. 5.1% if I remember right.

 

[VegasMichael]

https://www.jjbest.com/auto-finance/collector-car-financing.aspx

^Can't vouch for them but they say they lend for older/classic cars. Been looking into it myself since I want to get a car from the 60s.

 

[cj428mach]

If your credit is worth a damn the bank wont really care, if not find another bank.

 

[getTwisted]

Find a good credit union and have a large down payment.

 

[Kiohtee]

Finding a bank to finance a 1998 Mustang won't be your biggest problem; finding a bank to finance what the owner is likely asking for it will be, however. Most SN/NE owners have hit their head when it comes to pricing.

 

[Serpent]

Finding a bank to finance a 1998 Mustang won't be your biggest problem; finding a bank to finance what the owner is likely asking for it will be, however. Most SN/NE owners have hit their head when it comes to pricing.

Its a collector car and will be worth something in 40 years!

 

[nxhappy]

IF you find someone to do it, rates will be sky high

how much is the car BTW ?

 

[Kiohtee]

Its a collector car and will be worth something in 40 years!

What you did there... I see it.

:lol:

IF you find someone to do it, rates will be sky high

how much is the car BTW ?

Not necessarily. I 100% financed my '97 Cobra with 160K miles on it for 4.25% over 36 months!

 

[04ScSaleen325]

Jj best banc & co

 

[Blackoyote]

Try Nationwide Auto Loans.

 

[Equalbracket]

Who do you insure your vehicles with? I use State Farm and just switched to them for a new vehicle loan, they told me they would beat any offer I had, and they did. A lot of perks as well.

 

[4u 2 nv]

Not necessarily. I 100% financed my '97 Cobra with 160K miles on it for 4.25% over 36 months!

Why lol. That's about $140-150 per month payments.

 

[4u 2 nv]

Who do you insure your vehicles with? I use State Farm and just switched to them for a new vehicle loan, they told me they would beat any offer I had, and they did. A lot of perks as well.

I should have called them to see if they could beat my GMAC 0% financing I had.

 

[matthayn]

What about a home equity loan?

 

[Gravik]

Friend of mine got a full price loan on a '98 Cobra, but he's through USAA

 

[Kiohtee]

Why lol. That's about $140-150 per month payments.

Because it beat pulling $6K cash out all at one time. And what's $6,250 at 4.75% over 36 months? $468.32. Not a bad tradeoff IMO.

What about a home equity loan?

Not that my method of 100% financing is a good idea, but absolutely no to this idea. You don't need the car if you have to take out a loan against your house.