Cobra loan?????

[cj428mach]

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.



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.

So you'd rather throw $468 away over the next 3 years so you can have easy payments rather than plop down 6k up front?

Let me just leave this here.....
http://www.daveramsey.com/home/

 

[Two 5.0s]

I financed my 03 through State Farm. Rates are descent and for 48 months. Also helps my credit is excellent.

 

[boostin212's]

I tried jj waiting to hear back. The car is 12k . I will not be taking a home equity loan for the car if jj doesn't pan out I'll just have to save some money.

 

[nxhappy]

I tried jj waiting to hear back. The car is 12k . I will not be taking a home equity loan for the car if jj doesn't pan out I'll just have to save some money.

save your money, buy it in cash.

 

[AtlantaGT500]

Lightstream will finance older vehicles

 

[PSUCOBRA96]

If you cant pay cash for something so old then you can't afford it, if you can afford it pay cash and problem solved.

 

[thomas91169]

Lol 12k for a 98 cobra?

Not worth over 7k imo.

For another 4-6k you can find an 03\04.

 

[Kiohtee]

So you'd rather throw $468 away over the next 3 years so you can have easy payments rather than plop down 6k up front?

Let me just leave this here.....
http://www.daveramsey.com/home/

I'm guessing you missed the income thread (the most recent one) where I laid out my situation? $468 over three years is/was much better to my wife and I than "losing" $6K all at one time. I'm pretty sure our finances are in order and we know how to handle our money. ;-)

Lol 12k for a 98 cobra?

Not worth over 7k imo.

For another 4-6k you can find an 03\04.

Exactly why I said this:

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.

 

[Machdup1]

There are lenders that will loan on older cars, but be prepared to pay a higher interest rate.

Home equity loan in another way.

You can also consider a loan against your 401K, if the provision exists in the plan.

However, with all of that said, all of those are bad ideas IMO.

 

[AZSN95SNAKE]

Lol 12k for a 98 cobra?

Not worth over 7k imo.

For another 4-6k you can find an 03\04.

Worth 7k with 33k miles? LOL okay. 7k gets you 85k + miles. Yes, 12k is steep for an SN but not for one in the condition the OP is looking at. And the cheapest 03/04 here is $19k with 90k miles. Prices on them are still higher here.

 

[Tabres]

You can also consider a loan against your 401K, if the provision exists in the plan.

You will get destroyed on your incomes taxes doing that.

 

[Sonny Black]

Depending on your credit score, https://penfed.org/ is very popular with the NSX crowd.

 

[mc01svt]

financing $12,000 to buy a mass produced 98 mustang that will get raped by a nissan altima? Major fail.... :bash:

 

[thomas91169]

Worth 7k with 33k miles? LOL okay. 7k gets you 85k + miles. Yes, 12k is steep for an SN but not for one in the condition the OP is looking at. And the cheapest 03/04 here is $19k with 90k miles. Prices on them are still higher here.

Just because people dont drive it and ask $12k for something doesnt mean its worth that.

Sorry, thats a 16 year old car that MSRP'd $25k brand new, is not very fast by todays standards, and at this point will have reliability issues due to age.

You can find 03/04 on CL for cheaper, going off of market value on SVTP is pretty comical. Some of these sellers are on more crack than dealerships.

 

[nxhappy]

Lol 12k for a 98 cobra?

Not worth over 7k imo.

For another 4-6k you can find an 03\04.

this X10000000000

 

[BIG_WINNER]

So you'd rather throw $468 away over the next 3 years so you can have easy payments rather than plop down 6k up front?

Let me just leave this here.....
http://www.daveramsey.com/home/

who gives a crap about 468 bucks...it's way better to have 6 grand in the bank in case of emergencies...youre LIQUID that way, genius

 

[BIG_WINNER]

Worth 7k with 33k miles? LOL okay. 7k gets you 85k + miles. Yes, 12k is steep for an SN but not for one in the condition the OP is looking at. And the cheapest 03/04 here is $19k with 90k miles. Prices on them are still higher here.

just don't even waste your time...car is clearly worth more than $7k. now $12k? that's too high, imo. 9.5-10 would be fair I think

 

[CompOrange04GT]

Lol 12k for a 98 cobra?

Not worth over 7k imo.

For another 4-6k you can find an 03\04.

nope. on THIS site.. a Mystic Chrome sold for 12k.. and a Red one sold for 11 in the last year I believe.

For 12k he could find an 03.04 if he looks hard enough

 

[thomas91169]

nope. on THIS site.. a Mystic Chrome sold for 12k.. and a Red one sold for 11 in the last year I believe.

For 12k he could find an 03.04 if he looks hard enough

Using the #1 SVT site in the world as a gauge for vehicle worth is pretty funny.

If you went by SVTP standards, an 03/04 Cobra with 60k on it and salvage title would be worth $30k.

 

[boostin212's]

I went through jj best and was approved. The car I'm looking at is actually for sale on svtp. It is the BAB vert in the snow market. It is a nice car but people have made some good points. So we will see what happens now.