on my camaro its also 12.8%…
problem was, the credit was there, but the bank support wasn’t. It was very very hard to find a bank to finance 20k for a 01 car. The only way I got it, was a very large down payment and a high interest rate.
How old was your car when you bought it?
I got my loan right around when everybody was failvising on their mortgages and shit so maybe thats got something to do with it.
Yeah I had the same issues with my s2k smokin. I found an 01 and no one wanted to touch it… they offered me a new Ford instead. So I found an 03… and they would only do it at 4 years cause of the age. Had it at 12.x%… kept that and paid extra each month for about 8 months and then refinanced at 6%. All set now.
That’s the problem with Supras as well. Noone will finance 40-50k on a 14+ year old car.
Holy shit PJB, get that refinanced. That rate is insane for a used vehicle.
Yeah the banks are the problem with that equation… :rofl
i know i know i know :wow
Its a 01 and I bought it on 4/22/08…so it was 7 years old.
and I just looked at my papers…Its 11.99%, not 12.8
who did you re-finance through? I also have a 4 year.
exactly…
I looked at supra’s, but I didnt even bother trying to get a loan for one because they are insanely priced.
First Niagara
I thought you had it longer than that
Yeah, one of these days Im gonna go to SEFCU and see about doing that.
I was paying 8.29% on my Elantra that I bought new.
nope. I havent owned it long at all…
I got 9% on the vette when I bought it, about 6 months before the recession. NBT
Adirondack Trust has some pretty good rates on auto loans if you have good credit
I can not believe the loan rates you guys pay. Living check to check and paying high finance rates is the core of American lower middle class. Equation is simple, a few years of working and investing in your future make for a lifetime of better positioning. The smart move is to live without before you interest your profits away.
As long as the NADA value is there, there are many credit unions that will finance an older car. 40-50k isnt quite what they value at though. I could have financed up to 27k for my 1992 NSX through my bank. looks like 33k for a 1998 might be possible for a supra.
Supraforums has a long thread on the complications with financing now. It’s a case by case basis. NADA value is like 20K on a TT Supra lol. Most are getting turned down though.
If you are going to buy a car like a supra and cant pay at least half of the asking price out of pocket you probably should not buy one
Agree 100% :thumbup
I do not like car loans.
holy fuck you guys are dumb for paying that much for a damn car.