Anyone know where i can get a good rate on a loan?

[blk-ws6]

Well Im 18, have no credit (but have my dad to co-sign for me) and im looking at buying a trans am for aroud 15,000. The banks wont finance me a car older than 5 years old, and im not a college student and my job doesnt have a credit union so i cant get in there.

Capital one was doing private party to private party loans but now they only do private to dealer. So does anyone know where i can get a decent intrest rate for a car thats a 2001?

[jrc1122]

Your bank sucks.

If your dad has good credit and can co-sign, he should be able to call HIS bank and make it happen.

If they won't and he does in fact have good credit-- He needs to find a new bank.

[blk-ws6]

Me and him have the same bank, and my dad has very good credit. They said that they dont do that because the cars are being outdated and they arent worth anything LOL

[BIGREDZ]

I work for a car dealer in michigan. Your best bet is to check around with some of your local credit unions. All credit unions have different rates and requirement. When I got my t/a I called all three of my banks and none of them would touch a 6 year old car for under 9%. After checking with a couple of church credit unions and local city credit unions I found one that picked up the loan on a 2002 t/a for 5.79%. Just takes time. Your will probably have to jump thru a few hoops such as opening an account there with a minimum balance of $50-100 dollars but for a good rate it is worth it. :wave:

[BIGREDZ]

Also you may want to find out what book they use to value the vehicle. They can differ by a lot. NADA is the best for loan to value ratio. So that should be one of the first questions you ask the loan dept. If they are using Kelly, black book, or auction reports you probably won't get the loan value that you are looking for!!

[speedracer25f]

I know this guy Vinny around the corner, only works with cash.....only if the payments late he might bust your kneecaps:help::lmao:

[third_shift|studios]

bankrate.com...let the banks compete for your business...don't try to find them

[vannatte]

I know this guy Vinny around the corner, only works with cash.....only if the payments late he might bust your kneecaps:help::lmao:

Funny! That's the type of financing that I deal with in the buy-here/pay-here type industry! Just kidding.

I agree with BigRedZ, credit unions typically have the best rates. The only slight issue you may have is qualifying for a particular credit union. The credit union that I briefly had my T/A financed thru was in a different city & county and they weren't going to be able to finance me because I didn't live, work, or attend church in that area! I finally remembered that I had a cousin that lived in the same county and that's all it took and I was approved. Kind of a silly rule. My rate was in the low 5% area, but that's with excellent credit and only borrowing $3,000 on a car worth $11,000-$12,000.

[chuck4345]

im in the car business best place to get a laon for car like that is a local credit union wells fargo and capital one also finace those type of loans i can get you a ta for around that and get you financing depending on where you live and co signer credit

[Mustang Killa]

Credit Union All The Way!