im looking at some cars built in the mid to late 80s and the cheapest ones go for 10k and up to 30k+. im a little short on cash so do any of you who have financed an older car know the best way to go about it. i know i can get a personal loan through my bank but are there any lenders that specialize in financing older cars or something?

 

Capital one finances based on the price when you apply online. They don't even ask you anything about the car until after you've been approved.

 

is that a preapproval though?

Navy fed has a policy. they will preapprove you for a good rate ie:7% if your credit is good enough, but anything more than 6-7 years old (forget the exact age), you automatically get a higher rate. That is why when I bought my 97 Pickup, I had a preapp for 7, but final of 12. because it jumps you to like 10+credit score or something like that.


Not sure what else is out there, but just giving my experiences

 

^^^that is correct!! If you have GOOD/GREAT Credit, Capital One will do it

 

i have the credit. i just didnt know who to try out. as you know it hurts you to shop around. ill definatly check out capital one. i want at least 10% or lower rate.

 

what kinda car from the mid 80's is worth 30K?
lotsa banks will be willing to work with you on an older car, most don't really care

 

ones that are rare and fast.

 

i guess some exotics could be

 

I have three words for you: Home Equity Line (assuming you own a house that has equity in it).

The rate will be far better than CapOne's auto financing for a car that old. Check with the bank that you have your mortgage with.

 

get a credit card w/ 0% interest for the first year on cash advances. after that year find another credit card that has 0% interest on balance transfers. worked out great for me.