Where to get a used car loan for high mileage car?
September 26, 2008 - Where can I get a loan for a used car with over 100,000 miles and about 9 yrs old? I will be buying from a private party and want about an $ 8 to 10 K loan. All of the loan companies/banks I spoke with have guidelines on the age and mileage of the car.
- why go and jump into the fire... buy a car you have cash for.. repair it yourself.. if you want to jump up a knotch or so save your money do your own repairs.. forget about the financ company.. ride a bike till you have the bucks.. ok
It's not about bad credit, it's about the age and mileage on the vehicle. Your best option, if your vehicle is too old or too well-travelled to qualify for regular auto finance secured by the vehicle, is to look at obtaining finance with some other form of security. If you can refinance a property you own and get cash out, you are effectively financing your vehicle at the lower home mortgage rate. Not only can you get credit when the banks apparently don't want to extend it, but it is actually at a lower rate of interest! Check out the auto section at http://emergencyrefinancing.com for more details.
- Vito's down at the docks
- There are lot of lender's websites which can help you to get loan . for more info visit http://is.gd/rdu
The reason banks and finance companies don't make loans on that kind of purchase, is because it's almost always a "dead bang loser". If the banks won't do that kind of deal, take it from the wise, you shouldn't do it either. Banks and finance companies only loan money when they can make money. If they won't lend the money, you shouldn't buy the car. Its that simple. Lenders are not your "frienders" ... but you can use their greed to your own benefit. Take your knowldge from any true source, even if you don't like it. You will be happier in the long run.
Knowledge Base: Car Finance
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