how the hell do i get financed on a truck that i want to buy off a private party? i am a member of a credit union thru my dads old work have been for about 20 years now. (only 25 now) is that my best bet?
i came across a lady that is selling an 04 f-150 lariet for cheap and it has 1100 miles on it. her brother passed away after paying cash for it back in 04 and it has been sitting behind her house and now she needs to sell it. i am very interested in the truck and want to know how i can go about getting financed privately. the dealer has always done the work for me in the past.
thank you and let me know of any ideas. \
PS i have pretty decent credit it was up in the 700’s last time i went for anything which was last year on my house. so i dont thing that will be too bad.
you can definately get a good loan through almost any lender with the truck being A. that new and B. that low miles. Just call around to a few banks and lenders and see what rates you get.
EDIT: don’t give anyone your soc. or approve them to run your credit until they give you an estimate that you like…the more places taht run ur credit the worse it looks on ur report.
If you have 700+ credit score you’ll be fine, like cleanquick306 said.
Below 700, you’ll have trouble getting financed on a car sold private party.
i don’t know what credit union you belong to, but i belong to auto workers federal (it has some new name now) by century III and i bought a couple of cars through private parties that i’ve financed through them. iirc you have to give them a copy of the title when you go and get your certified check, once you go to the notary and do the title transfer, the title will be sent to your credit union
my credit union’s rate for an 04 is 6.45 for 60 months, national city for example is 7.19-7.58%
PSECU!!! U are an employee of the state,all u have to do is join for a 5 dollar fee and get accepted if u do. Their loans are 3.9% fixed for credit,4.9% fixxed for vehicle and mortgage loans as low as 3.79%. U cannot go wrong,i have a 3.99% credit loan right now adn my credit scoreis in the 700’s woot woot!
Capital One also does them but their Private Party interest rate is like 8%. I financed through them on my mustang. You usually get .50% better rate if you do automatic withdrawl too.
Capital one is pure unadulterated shit! U were young and dumb,it’s ok tara:bigok:
On topic fool. Capital one worked for me and the situation I was in.