So I was going to go through Capital One, but they have stopped giving loans for any used cars not purchased from a Dealer, meaning no private party purchases!
Does anyone know of a decent lender that has decent rates for a 24-36month loan on $5000, for a private party auto purchase?
credit union
/thread
very touchy area, expect super high interest rates. I just went through this with mine. Some banks are better than other. If I were you, I would go talk to someone at your bank, and if they can’t do a decent auto loan for you, maybe you can get a recommendation.
I have also heard that credit unions are best. They will however, ask a lot of questions when only borrowing $5k.
got mine thru HSBC…with 5.5 interest. I was fairly surprised as I assumed it would be in th 7-8% range.
also, 24 hour turn time on loan processing
No shit, I have several accounts with HSBC - but their loan rates always seem high? Was the amount you borrowed similar? Did you apply at a branch, or online?
I got 6% from Erie Metro credit union on a 20K loan. I only joined them to get the loan, but it was kind of a promo…
5.5% from HSBC must have been a sweet promo, I NEVER see them that low.
im using morton lane, only because my mother is a member for working @ roswell…
my m3 is financed at like 7.1% or something similar. that was 2 years ago when used auto rates were ~ 8% from capital 1
I had 3.75% on my car and bike before paying them off… I could get it again today if I wanted.
Employee CU ftw.
Yeah, I think I am going to re-finance mine that way, once I am off of this stupid temp contract.
NFCU is the be all end all of credit unions. Good luck.
my loan ammt was $9800. Went in to the eastern hills branch saturday morn/afternoon at 11:45(15 mins before they close), had the approval sunday morning(she called me even though they were closed) and then picked up the check monday morning at the Depew branch.
no hassles at all
buffalo metro federal credit located at 62 South Elmwood ave. in Buffalo. :tup: to them.
seriously, this was loaded w/ good info!
Tom, i just refianced through a company found by lending tree. They gave me about 6% apr. My credit union would not refinance on their own loan so i had to go elsewhere. Simple process got 3 bids and i took the best one. Good luck.
^^^rob, is there any kind of application fee or anything for lending tree? always wondered about that site and how well it worked. But never remember to actually take a look
No its free, all you do is put in your info and like 24 hours later you get a few emails about offers. Nothing shady or pushy. Works amazingly with car insurance too.
nice, 6% is good. I was hoping that with the CU where I work, I could get it even lower though.