Auto Loans

[rubenmar90003]

I have a decent score by the time i am ready to apply for a car loan. i will be at $0 debt.

and 1 credit inqu for an amex i just got approved for this month. at the time that i apply all 3 scores will be in the low 700 .....

im looking to get a loan for a 04 suv with 60 k miles price is 28k i have 4 k down as payment.

will i be able to find someone to finance me for such an old car for $24k ???

[Creditaddict]

Is this car at a dealership or private?

What city are you in?

What kind of SUV is this?

[webhopper]

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rubenmar90003 wrote:

I have a decent score by the time i am ready to apply for a car loan. i will be at $0 debt.

and 1 credit inqu for an amex i just got approved for this month. at the time that i apply all 3 scores will be in the low 700 .....

im looking to get a loan for a 04 suv with 60 k miles price is 28k i have 4 k down as payment.

will i be able to find someone to finance me for such an old car for $24k ???

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Why such an old car?  Definately you'd be able to get financed for a newer SUV or small SUV... what type of dealership is this, or is it a private party sale? 

[rootpooty]

It depends on what vehicle it is. There is no way it can be GM or ford. Which vehicle is it

[GrowingCredit]

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rubenmar90003 wrote:

I have a decent score by the time i am ready to apply for a car loan. i will be at $0 debt.

and 1 credit inqu for an amex i just got approved for this month. at the time that i apply all 3 scores will be in the low 700 .....

im looking to get a loan for a 04 suv with 60 k miles price is 28k i have 4 k down as payment.

will i be able to find someone to finance me for such an old car for $24k ???

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Why r u gonig for such an old SUV. with your scores and budget you can easily a newer or slightly old SUV in great condition and your chances for auto loan also increases with newer models

[Pirate]

You can get a 2004 financed, the downside is the bank will limit the months that they'll finance it, and your interest rate will be slightly higher.  I think 48 months would be a good guess as to the most months you could get on a 2004. . More expensive, newer(2009 2010 2011) suv could be less per month because of the terms you'll get from a bank versus a 2004 model.

[mrcrush20]

unless you talking highline SUV 28k for a 2004 is way to much

what did this suv cost new ?

their are banks that will do older cars but the terms will be shorter and rate will be highr

IMO you are better server with a new one

would you want to pay 28K over 3 or 4 years rough number is high 500's payment for a SUV that will be 12 years old when your done paying for it ?

remeber banks have a LTV or a lone to value as well even GREAT credit will cap around 130% for standard terms

i am going to guess that with SUV is not worth 28K

[Twizzle]

We bought an 05 SUV in Jan. Not for 28k, tho.  Personally, I prefer the older model Explorers and this one was mint, lower mileage. We usually pay cash, but decided to get a loan for this for a few reasons. It'll be paid off in Jan. 

Anyway, we found every bank and CU we contacted would only finance vehicles 7 yrs old or newer, 80k mileage or lower, 48 mo term max, and for $7500k or higher. Interest was higher as well since we were 7 yrs  (4.99). Only one would do a private party loan and the interest on that was crazy, but we bought thru a dealer so irrelevant.

So, I'd be checking around to see if anyone will even cut such a loan first as well as working w the dealer if this is a dealership SUV...assuming the SUV is fairly priced. (Hmm. Around here an Escalade might go in the low 20's, but I'm curious to hear what this 04 SUV is too to be asking 28k.) 

[mrcrush20]

i once had WFDS do a 9 year old toyota wiht 65 k they did 4 years apr 4.99 the buyer had a 735 auto fico