Results 1 to 17 of 17

$8000-$16000 car loans on LS1 T/A's

This is a discussion on $8000-$16000 car loans on LS1 T/A's within the Firebird / WS6 forums, part of the Vehicle Specific category; Hey guys. I think this is my first post, but anyways... I'm looking for feedback on your financing for a ...

  1. #1
    Member candlelit's Avatar
    Join Date
    May 2006
    Location
    Oklahoma City, OK
    Age
    31
    Posts
    256

    White
    98 Trans Am

    $8000-$16000 car loans on LS1 T/A's

    Hey guys. I think this is my first post, but anyways...

    I'm looking for feedback on your financing for a 98-02 (edit) T/A.

    How long did you get the term for on your older or newer LS1 TA?
    What are your monthly payments?
    How old was your car when purchased?

    Thanks guys!
    Last edited by candlelit; 08-24-2006 at 04:02 PM.

  2. #2
    Detailing + Design third_shift|studios's Avatar
    Join Date
    Aug 2005
    Location
    Pittsburgh, PA
    Age
    36
    Posts
    21,719

    My life is a
    Ben Stiller movie.

    LOL, GM stopped production in 02, but we won't kill you for that.

    I bought a 2000 ws.6 [ram air] model in 04 and got an 18k loan on it for 5 years. It had 65k miles on it. [Broken Down: $14.5 for the t/a, the rest was my trade in which i still owed money on...kind of a shitty deal, but i really wanted the ws.6] I also got an amzing loan rate from my dad's federal credit union: 4.9% so my payments are only 330/month. Not bad considering a bank loan @ 13.9% = 385ish


    Custom Car Emblems
    from third_shift|studios
    Pittsburgh Car Detailing & Paint Protection from ts|s detailing
    jaison tortorea

  3. #3
    Junior Member
    Join Date
    Jan 2006
    Location
    PA
    Posts
    19

    Black
    67 Chevelle..99 Silverado

    keep in mind if the car 5 years old it is difficult to get a loan on the vehicle.

  4. #4
    Member Fedge's Avatar
    Join Date
    Feb 2006
    Location
    New Jersey
    Age
    48
    Posts
    383

    Black
    1998 Trans Am M6

    yeah, it's nearly impossible to get a loan on a 98...it's gonna be nine in another month or so...
    95 Exploder

    01 R1 coming?

  5. #5
    Senior Member Tobynine9's Avatar
    Join Date
    Nov 2005
    Location
    Cypress, Texas
    Age
    36
    Posts
    1,054

    Burple
    1966 427 Cobra Replica

    Go with Capitol One.

  6. #6
    Smooth Operator 98LSGUN's Avatar
    Join Date
    Oct 2005
    Location
    Atlanta
    Age
    48
    Posts
    743

    Black
    1998 Camaro SS Vert M6

    Quote Originally Posted by Tobynine9 View Post
    Go with Capitol One.
    I haven't paid more than 3.9% for a car note with Capitol One in the last few years...

  7. #7
    ArtistFormerlyKnownAsMac Silver Streak's Avatar
    Join Date
    Apr 2006
    Location
    Indianapolis, IN
    Posts
    4,845

    All Black
    83, 87, 02 All WS6 T/As

    Got mine in March... 18k plus TTL and a $1500 36k power train warranty.. so ended up with a $20,000 loan... 5.5 years.... 390/month on my 02.
    -Geno
    1983 Black WS6 "WindCharger"
    1987 Black WS6 "WS87"
    2002 Black WS6 "Silver Streak"
    Sold the other four f-bodies

  8. #8
    Member candlelit's Avatar
    Join Date
    May 2006
    Location
    Oklahoma City, OK
    Age
    31
    Posts
    256

    White
    98 Trans Am

    Quote Originally Posted by third_shift|studios View Post
    LOL, GM stopped production in 02, but we won't kill you for that.

    I bought a 2000 ws.6 [ram air] model in 04 and got an 18k loan on it for 5 years. It had 65k miles on it. [Broken Down: $14.5 for the t/a, the rest was my trade in which i still owed money on...kind of a shitty deal, but i really wanted the ws.6] I also got an amzing loan rate from my dad's federal credit union: 4.9% so my payments are only 330/month. Not bad considering a bank loan @ 13.9% = 385ish
    yeah I don't know what I was thinking. I guess I assumed they stopped making them the last year they changed to the new grand prix style (since I've owned 2 of em). that's an awesome loan you got there. My bank tried me for a $26K 04 gto for about 370 a month, six years i believe, but with a trade-in.
    Last edited by candlelit; 08-24-2006 at 04:03 PM.

  9. #9
    Member candlelit's Avatar
    Join Date
    May 2006
    Location
    Oklahoma City, OK
    Age
    31
    Posts
    256

    White
    98 Trans Am

    Capitol One sounds like a winner. However with me I doubt I'll be able to get a loan with a lender like that, since I'm not 21 yet and have a short credit resume.

  10. #10
    ArtistFormerlyKnownAsMac Silver Streak's Avatar
    Join Date
    Apr 2006
    Location
    Indianapolis, IN
    Posts
    4,845

    All Black
    83, 87, 02 All WS6 T/As

    At that point its all about the worth of said vehicle.. and the best co-signer you can find.

  11. #11
    Junior Member
    Join Date
    Sep 2006
    Location
    Grande Prairie, Alberta. Canada....eh
    Age
    39
    Posts
    15

    Pearl White
    2001 Trans Am

    I ust traded in my 04 grand prix for 10,000 (ouch!)
    Out that towards a 01 trans Am with 129,000kms.
    Trans Am was 19,998 and the financing is 9.85%

    After all is said and done, the car came to $23,9xx.

    Hefty price for my dream car


    ***Canadian prices BTW!

  12. #12
    Member bostonbruins34's Avatar
    Join Date
    Jun 2006
    Location
    Newnan, Ga
    Age
    50
    Posts
    102

    GM LeMans/Luxo Blue
    2001 Firebird Formula

    I work for Bank of America and can assure you most banks will not touch a car that is over 7 years old or do 100% financing for a car from a private dealer. I looked at the Capital One loan when I bought mine but the terms wouldn't allow a '98 from a private seller. Their terms were for a purchase from a "qualified" seller (re: dealership) and I wasn't going that route. The rate was fairly decent.

    I ended up going with a home equity line of credit. Bought it for $8500, did a fixed rate option (locked the rate) and my payments are around $90 per month!!!

    Now credit unions can be a bit more lenient in lending guidelines so you might look into that but the big "chain banks" like B of A, Washington Mutual and Wachovia just won't touch something that "old".

  13. #13
    Member bostonbruins34's Avatar
    Join Date
    Jun 2006
    Location
    Newnan, Ga
    Age
    50
    Posts
    102

    GM LeMans/Luxo Blue
    2001 Firebird Formula

    Oh, yea...Most big banks are unwilling to finance something from a private seller that has over 100k miles...
    Last edited by bostonbruins34; 09-07-2006 at 08:41 PM.

  14. #14
    Junior Member
    Join Date
    Mar 2006
    Location
    Detroit
    Age
    32
    Posts
    15
    Quote Originally Posted by bostonbruins34 View Post
    I work for Bank of America and can assure you most banks will not touch a car that is over 7 years old or do 100% financing for a car from a private dealer. I looked at the Capital One loan when I bought mine but the terms wouldn't allow a '98 from a private seller. Their terms were for a purchase from a "qualified" seller (re: dealership) and I wasn't going that route. The rate was fairly decent.

    I ended up going with a home equity line of credit. Bought it for $8500, did a fixed rate option (locked the rate) and my payments are around $90 per month!!!

    Now credit unions can be a bit more lenient in lending guidelines so you might look into that but the big "chain banks" like B of A, Washington Mutual and Wachovia just won't touch something that "old".
    So obviously you have to own a house for the home equity line of credit, how old was your car? mileage? Or does that not matter with that type of loan?

  15. #15
    Junior Member turbotko's Avatar
    Join Date
    Feb 2006
    Location
    georgia
    Age
    37
    Posts
    51
    I just bought my 00 TA for $11,500 with 50K miles. Got the loan for 4 years and payments are in the $270's. Everyday I thank god for letting me steal this car from the dealer!

  16. #16
    Member bostonbruins34's Avatar
    Join Date
    Jun 2006
    Location
    Newnan, Ga
    Age
    50
    Posts
    102

    GM LeMans/Luxo Blue
    2001 Firebird Formula

    Quote Originally Posted by nmcgrawj View Post
    So obviously you have to own a house for the home equity line of credit, how old was your car? mileage? Or does that not matter with that type of loan?
    Yea, you have to own your own home and have equity in it (take the honest value of your house, multiply by 80% and subtract what you owe and that is the amount of borrowable equity...$150,000 x 80% = $120,000 minus $85,000 owed = $35,000 equity) Stupid bank math. Most people mistakenly think $150k minus $85K = $65k x 80% = $52k equity. Most banks will let you borrow more than 80% loan to value but will totally stick it to you on the interest...

    That's the beauty of the Home Equity Line...Do whatever you want with it. You want to buy a rusty '83 Bonneville for $10k ? No questions. Want to buy $10k worth of gum? Go right ahead. I got my '98 T/A for $8500 and have the title in hand. You are only paying for what you are using AND it is tax deductable!! Most places (like my bank) have no application fee, no annual fee and no closing costs...) This isn't an advertisement for my bank, which is why I don't keep throwing the name out there, but it is a good way to buy what YOU want, not what the bank will let you get.

  17. #17
    Junior Member
    Join Date
    Sep 2006
    Location
    Grande Prairie, Alberta. Canada....eh
    Age
    39
    Posts
    15

    Pearl White
    2001 Trans Am

    *just smiles and nods slowly with a blank look at your bank math calculations*

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. 2002 ws6 $16000
    By chuck4345 in forum Vehicles For Sale / Trade
    Replies: 2
    Last Post: 03-10-2014, 09:10 PM
  2. Car loans
    By kenro23 in forum Almost Anything Goes
    Replies: 29
    Last Post: 08-01-2011, 09:52 PM
  3. 500 hp + 8000 ft Hovering Height
    By SScott in forum Almost Anything Goes
    Replies: 8
    Last Post: 10-05-2010, 09:41 AM
  4. 2001 Camaro SS A4 $8000
    By 01LS1SS in forum Vehicles For Sale / Trade
    Replies: 16
    Last Post: 06-02-2010, 12:28 PM
  5. 2001 Firehawk #372 1LE & Auburn Diff. FULL FINANCING AVAILABLE - $16000
    By briant6483 in forum Vehicles For Sale / Trade
    Replies: 3
    Last Post: 06-19-2007, 05:06 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •