I turned down a $30k offer last spring for my 2004 Screaming Yellow coupe with 12K original miles with some tasteful done mods. I remember back in the day sy cars were sought after, now days everyone hates them, lol.
For those who are trying to finance these cars, I have seen success with lightstream, a division of sun trust who specializes in collector car loans. Last customer who used them had a 2-3% rate for 60 mos..
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LOL pwnedWhy not post a thread in the market instead of putting this reply in every thread? Are you a spammer? You just joined today nice.
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For those who are trying to finance these cars, I have seen success with lightstream, a division of sun trust who specializes in collector car loans. Last customer who used them had a 2-3% rate for 60 mos..
no affiliation
Can confirm this! Smooth sailing the past 9 months.For those who are trying to finance these cars, I have seen success with lightstream, a division of sun trust who specializes in collector car loans. Last customer who used them had a 2-3% rate for 60 mos..
no affiliation
that's as good as it gets lol....you need to put down a larger deposit to decrease the loan amountThank you guys for all the advise.
I got approved from Penfed but they only approved me for 110% of car value on NADA.com.
How much Lightstream approves for?
Got it.
So I just received blank check that I can used upto 22k but cann't exceed 110% of Nada.com value of the car.
If any of you bought a car by financing through Penfed, how did you guys safely made transaction to buy the car from private seller?
Any sellers won't feel safe to get a check instead of cash and let their car go.
Also, I don't feel safe to give seller a check and get the car after check gets cleared.
Also, I don't feel safe to give seller a check and get the car after check gets cleared.
That's the only way to do it by check. You have to give them the check. They deposit it and after it clears they release the car to you. It's the same with a wire transfer. Your bank wires the money to the sellers bank. Once they receive the money they release the car to you.
Only other way is a cash payment and then you get the car on the spot.
I purchased both my Cobra's through the internet. First was a wire transfer and then they drove the car to me. Second was a wire transfer and then I went to pick the car up. Both times seller received the money first and then I got the car.
No one will ever release a car without payment first. You just need to decide how you want to pay (i.e. check, transfer or cash).
No one will ever release a car without payment first. You just need to decide how you want to pay (i.e. check, transfer or cash).
May I ask what credit union did you get financed from?I just bought my 2004 last april and my credit union would finance up to 125% of the NADA value of the car. I also got 2.99%
May I ask what credit union did you get financed from?
Also, how did you pay to seller?
YCheck = payment
I'm not sure if you understand what I was saying but I didn't say I'm expecting seller to release their car without me giving the seller a check.
But at the same time, I completely understand seller will concern since the fund doesn't become available instantly after they deposit it.
I'm not worrying about general process of purchasing a car that is on DMV website.I financed through PenFed. It's been a few years though. Go to your state's website, and you'll most likely find instructions on what all you need to do to buy a vehicle and transfer the title. I had to fill out a Bill of Sale for the vehicle, and I had the seller sign it. They signed the title over to me once the funds cleared, and handed me the keys. All that was left to do then was fill out the paperwork and pay the fees to get the title in my name (and PenFed's).
Penfed has that option too.Abri credit union. It's a small credit union in the Chicagoland area. Only 5 or 6 locations.
They made the check directly out to the seller. I brought seller the check. I drove home.
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Yea, that's what I thought but I was just hoping there is official way than just trust.So, what do you do??? One of you has to trust the other and most of the time it is left up to the buyer to trust the seller as the buyer has to come up with the funds.
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