When applying for a loan with a bank...

nyk438

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I'm thinking of buying an older land cruiser like 91-94 and I was wondering if banks put a limit on how old the car is for me to apply for the loan....anyone know?
 

NeedaCobra

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I think they usually only give you the amount that car is worth. You could get a line of credit and use it.
 

treynor

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It varies from bank to bank, but typically if your credit is decent they will finance up to 90-100% of the blue book for the car.
 

nyk438

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Well, I turned 18 back in aug. and dont have a credit card so that means i either have no credit or I have perfect credit :lol:



But which one is it? Perfect credit or no credit?


:beer:
 

treynor

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> But which one is it? Perfect credit or no credit?

None, unless you have some other loan in your name. However, that doesn't mean they will not make you a loan if you have a job -- just that the interest rate will be higher, because you are an unquantified risk.
 

nyk438

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Ya, thanks for the info


Right now I work one job that makes 6.75/hr + I ref soccer games on weekends making 60 - 120 a weekend and they pay by check so i can show them that....
 

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