Cobra loan

[rw93cobra]

Today I find out if my buddy who I bought my 01 cobra from is going to be able to buy it back. If he is able to get a loan for it, I will have close to 2K after paying it off to put towards a terminator. I checked Nada value for a 03 with 40K miles and I believe it was alittle over 19k. I was wondering with decent credit, how close to or even over book value are others being able to finance? I believe with winter on its way, I'll be able to get a better deal on one vs waiting till spring. I just wish I haven't spent so much on my foxbody the past few months so I'd have more to put down, but if I have to wait till later to buy one thats fine.

 

[sc98cbra]

You can find them a lot cheaper. There are plent of 04 cobras equipt with whipples at 30k miles for 19.5k

Id pay no more than 18.5K for that cobra you're looking at.

 

[jandmmustangs]

With a 730+ credit score i still had to put like 2k outta pocket. I went through capitol one for my loan (my local bank wouldnt touch the car, said it was only worth 10K.) I still got a good, not great rate 6.5%.

 

[Lloyd Xmas]

These cars can only be financed for a term of 4 years at most local, community banks. Credit unions could possibly go to 5 years. I dropped $4k on mine earlier this year so I could get my payment down since it was financed for only 4 years.

 

[sc98cbra]

These cars can only be financed for a term of 4 years at most local, community banks. Credit unions could possibly go to 5 years. I dropped $4k on mine earlier this year so I could get my payment down since it was financed for only 4 years.

I had my 04 financed at 0% for the first year and 5% for the next 5 years after that.

Was a 6 yr lein.

 

[timspony]

Good luck!! :beer:

 

[SpectorV]

banks generally loan 80% of book value, nada is not a bad place to start but a call to the bank can get you the loan amount~

 

[VADEi2]

I received 100% financing about 1 year ago from my local credit union.

 

[waltd20012002]

credit union 100%, 5.5% interest