Many banks wont finance older than 7 year old car. Who can give 12% or lower loan? Guy has 590 credit but just paid off 28, 0000 loan. 10, 000 loan before that. Quoted. 15.9%

 

You should try to open an account at a Credit Union and apply for a loan there. I'm a member of three here in Long Island, one has personal loans you can take out and the rate on those is 9.2% for 60 months and the amount can be up to $35,000.

 

Kano wins! Most banks wont finance or refinance a car that old. A personal loan might be your only option.

 

you could pay off house after house but if your score still is a 590 it's there for a reason... too much debt, too many blemishes, obviously we don't know what you did in your past life.

If you have paid off 2 large loans, why not go back thru the same finance company that gave you those?
A strange one to try looking into - State Farm Insurance.
http://www.statefarm.com/bank/loans/vehicle.asp
They have almost no restrictions and potentially competitive rates.

 

I agree. Most banks wont finance a car that old.

Interest rate on a personal loan might be high as well, so that won't necessarily help.


I agree. With a credit score like that, there are fundamental issues. If this were a friend of mine, i'd urge them to reconsider financing a vehicle and pay cash for something much cheaper and then focus on fixing their credit score.

 

Two years ago, when I was going to purchase from a private party, I was offered a personal loan at 9% and that was with really good credit.