Classic Auto Loan

[predator]

I'm considering purchasing a car in about a month. I have looked around and unfortunately I cant find a loan that is worth signing up for. I cant seem to get better than around 9%... This is unacceptable to me considering I am willing to put up a down payment of about half of the final price of the car...

Anyone have any ideas? Or work for a bank and want to help me out here?

-me

[Nhra Firebird]

have you tried a credit union? what kind of credit do you have?

[86 IROC-Z]

buy outright

pay no interest

take over the world

[1MileCrash]

go to a credit union. i got my new car loan at 4.19% for my '07 G6 this past winter and i put down around $1500 cash on a $9900 car.

keep in mind that the year of the car is incredibly important when it comes to loan rates as well as your credit score (obviously). i happen to have a damn good credit rating for someone my age so i came out in good shape with my loan.

oh...and never take the credit offers from the dealerships. i had one dealer that wanted to do everything for me and they were going to "set me up nice" with a loan rate at 9.9%...compare that with the loan that i got at my credit union for 4.19%.

best advice...keep shopping around.

[CJREX]

Your thread title is Classic Auto loan.

I read this as taking out a loan for a "Classic" car.

If so, get ready to be robbed.

A bank will charge outrageous interest, if they will loan at all, on a vehicle that has a wildly subjective value.

Best advice is always to buy outright.

If you can put down half, I would either save a bit longer or just get a cheaper car.