Here is the deal. Im ready to buy a g35 but the only one i found worth buying is from a private seller. The kicker is that it is a 2003 with just under 100k. The problem lies here: i cant find an institution that will finance a car older than 7 years.

Any recomendations?

Thanks
-Gary

 

Personal loan from a bank? Lol this is so not my department, how much does the seller want for it? Personally I would just save it until you are financially ready.

GL

 

Thats a concept many Americans don't understand

OP, buy what you can afford. I'm certainly no expert when it comes to loans but the age of the car being the issue doesn't sound right. Did they actually tell you the car is too old?

 

Ive looked into banks as well as credit unions and they vary a little but for the most part they wont go older than 7yrs. I know dealerships make it easy because they deal with banks/cus that only finance cars sold through a certain dealerships. I have a large chunk to put down. Just not all of it. My car is about to croak so rather than buying another junker, i would like to just get er dun.

 

In less words, yes. Each bank/cu said the same thing that they just dont finance cars more than 7 years old. The alternative is to get an unsecured personal loan but itll carry a much higher rate.

I just know im not the only one who has wanted to finance a 10year old car. So there must be some means of doing so.

 

Going through a private seller is almost impossible to get a loan for that. Your best bet is to go through CarMax. if there is one within 250 miles, they will ship it to your local CarMax dealer for free. You can also get a sweet warranty. I got my G at CarMax and don't regret it one bet.

 

There is one that meets my criteria in a 500mi radius. They want too much anyway.

 

I work at a bank. And yes anything over 7 years we will not finance. I just recently sold my 2002 Civic Si to private buyer. He went through his credit union and got a 7k loan. It was schools first federal. Its not impossible but there are credit unions out there that'll loan you the money.

 

Im having no luck. If i could find one at a real dealer down here i would be set but those rip off buy here pay here places are about 25:1 sp my odds of finding what im looking for are slim

 

answer = save more money.

buy what you can afford

 

Like i said, I can afford the car. Its not about that. I could buy this car in cash in 6 months if i wanted to wait that long. The other purpose is establishing credit for my fiancee.