Who to go to for Corvette financing?

**Detroit Power** · 02-06-2011, 09:22 AM

Okay, so I have ~$15,000 +/- a few grand to pay for a corvette and planned to buy a C5 in cash. With C6 prices dropping down to 25k or so for PP sales, I'm now thinking of financing $10k to get one of these. A 4 year pmt plan puts one of them around 250 a month, but I'd probably finance for 36 mos.

The problem is, the CU I've banked with for 5 years will not offer vehicle loans on anything over 4 years old. Obviously, 25k won't get me into a 2007+ C6, so I'm really only able to purchase a 2005 or 2006 (if one can be found).

Since this would likely be a private party sale, financing through the dealership is not an option. Any suggestions on where to go to finance the extra $10k needed?

**02transamce** · 02-06-2011, 09:34 AM

buyavette.net corvette dealer in Atlanta,they do there own financing too.saw a 07 vette with 9k miles on there for $33500,ten percent down (3350) and $455 a month.
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**Krazydan** · 02-06-2011, 09:55 AM

capitaloneautofinance.com

**Detroit Power** · 02-06-2011, 01:05 PM

Originally Posted by 02transamce

buyavette.net corvette dealer in Atlanta,they do there own financing too.saw a 07 vette with 9k miles on there for $33500,ten percent down (3350) and $455 a month.
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It's funny that you posted that particular retailer. I'm from the atlanta area (just on an assignment up here in AK) and usually get linked to them off of craigslist.

$33,500 is way to much for me to spend on a toy. It's not going to be my DD, so I really want to keep the price around 25k. I don't mind buying one with 70k on the odometer, since i typically drive the fun car < 5k miles per year.

**02transamce** · 02-06-2011, 03:47 PM

They have vettes of all years and prices. Saw a 92 six speed last year with a 400hp 383 Scoggin Dickey engine for $9500
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**Schmalgar** · 02-06-2011, 11:47 PM

I love Buyavette/Corvette World. I've been there many times with a Vette-seeking friend, checking out their inventory.

Also +1 to CapitalOne. They're a little looser with their qualifications, but the flip side is usually a higher interest rate. And they finance up to 7 year old vehicles, but you have to purchase from a large dealership. So there are balancing pros and cons to them... I am using them on my WS6.

**Homer J** · 02-07-2011, 06:53 AM

i just got my 2002 Camaro SS LE in may of last year, and financed it through digital federal credit union. they could only finance it for 4 years and only loan book value, but there customer service while trying to establish the loan were great. they overnighted me a check and i took it to the dealership and bought it.

https://www.dcu.org/index.html

**MYSCZ06** · 02-08-2011, 03:49 PM

You could finance the balance thru any bank or credit union i.e USAA. 10K for a Vette is easy money.

**Detroit Power** · 02-09-2011, 06:31 AM

The problem must lay with my credit union. Like I said, they will not offer financing on any vehicle greater than 4 years old regardless of how much is being borrowed compared to book value (I'd be borrowing < 50% for a C6).

Maybe I'll just keep saving another $5k, and pay cash for a C5Z06.

Heck, I think I'd be okay if I could find a C5 FRC.

**87rocket** · 02-10-2011, 05:06 PM

My credit union (Dort Federal) gave me great rates on money toward a C4, they told me as long as the sell price was good they were on board. I believe I paid around 7%. Check around.

I know right now they will give me 2.9% on a new vehicle all day long.