getting a loan for a cobra???

[smokastang]

I have gone to several banks and credit unions to get a loan for a cobra . Since they are older than 07 they dont want to finance the full amount and the interest is crazy high. I have very good credit and cash to put down .
I just wanted to see what everyone else has done .
Thanks

 

[02JoeGhost]

I just bought a SY 04 and went through my credit union with no issues, They even had me aprroved for more then the car booked for. I have bought all my cars through them even my 68 torino and age has never been an issue. If none of them are willing to work with you I would shop around some more.

Joe

 

[BlksvtCobra01]

Credit union here interest is a little higher than I wanted but not due to credit due to the age of the vehicle. My CU would go up to 125% of nada value if needed this was last year

 

[03cobra#694]

Might want to check here also.

https://www.lightstream.com/

 

[03SonicVert]

I just took a personal line of credit out at my bank for 25k. They didn't care what I used it for.
They would have never given me that much for a Terminator especially now that the 5.0 Coyotes are out!

SV

 

[TERMINATED97]

Just bought mine two months ago and got a loan through my credit union. Interest is 3.74!

 

[masterjr33]

navy federal credit union. personal loan with collateral. not a used car loan.
2.9%.
I had a faxed in letter of approval waiting for me inside the dealership before i got to the lot

 

[Gixxerride04]

Went to my credit union where I've been a member for the past 20 years or so, took out a loan for $13000, told them exactly what car I was buying and didn't have a problem. Interest is under 4% too

 

[TERMINATED97]

Might I add that I was never a member at my credit union until I bought my last car (IS300) and needed a loan. All it took was $5 into an account with them and then you're a member. Both loans were absolutely hassle free. Only thing I had to show besides the obvious was proof of full coverage insurance. Got the same rate both times also with them being about 14 months apart.

 

[Goose17]

I bought my 04 and 93 within the last year, both with USAA and both times they offered a much lower rate if I financed $15k instead of my requested $10k. Interest rates are 2-3%. If you or a parent were in the military, I highly recommend them.

 

[svt4me38]

Credit union is the way to go. These cars are too old for regular banks.

 

[Bigggy]

Got a personal loan for mine, our banks would not finance a 11-12 year old car...

 

[Ourobos]

NFCU here also

 

[KilledbyKenne]

Love my credit Union when it comes to stuff like this. Financed my Cobra last year for 6 years at 3.24%.

 

[bigmoose]

+1 on the credit union. I use DCU here in MA. They will do 10 years old up to 100k and finance 120%. I bet you can get older if you finance less than 100%. I bought my '04 in march. My rate is 1.24% for 65 months. I also financed 100%. Of course you'll need a 760+ credit score to get these rates though.

 

[ctgreddy]

I got my car thru a credit union 2 years ago. Financed 17,5 and it's 2.8% interest 303 a month.

 

[smokastang]

Thanks guys Im gonna check into these places my credit score is around 800

 

[smokastang]

I almost thought it there wouldnt be a chance . I was gonna start looking at the GT500 since they are newer the interest is low

 

[getTwisted]

Credit Union and a large down payment.

 

[Pruitt146]

Credit union is the way to go. Mine will loan on an 04 but not an 03. I did what a few others did and got a personal loan for mine.

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