10-11-2012 09:37 PM
i've found a 1999 M3 that i really want, and the price is pretty good at $8500. Its basically a mint condition, museum pice...
I just was wodnering what the way to go about getting financing for a car this old though?
10-13-2012 12:40 PM
10-13-2012 06:16 PM
Your best bet is to talk to local credit union. Be prepare that most lenders will refuse to finance car that is 10+ years old. You may end up putting it on personal loan instead.
10-22-2012 05:03 PM
that sound perfect.
just out of curiousity, where are you located and what credit union did u go through? Wonder if there is one around here...
10-23-2012 07:31 PM
I know from my dealership days that Wells Fargo Dealer Services will finance older units like this through authorized dealers.
10-23-2012 09:11 PM
Im having a hard time finding dealers with the car i want...
My friend owns the exact car i want Black/Black 1993 M3 with lowish miles in MINT condition...he rides his motorcylce almost exclusively now and said he would sell it for $8500 to me if was interested...
Is there any suggestions for getting a loan for a private party transaction or is it only likely to be approved through a dealership? Do banks like Wells Fargo even do private party loans, especially for older cars?
My scores are in the Mid 600's but i have about 50-60% utilization which would certainly be paid down to at least 30% or so before i applied for anything...
I have about 3 years without any late payments and have aquired good new lines of credit since then (AMEX GREEN, CHASE FREEDOM, BARCLAYS, etc)....
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.