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Feb 12th, 2024
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 Loan for older vehicle
#8386029
09/15/21 05:47 PM
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Joined: Sep 2005
Posts: 575
safarigene
OP
Tracker
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OP
Tracker
Joined: Sep 2005
Posts: 575 |
Any help on finding someone for a loan on a 2000 model vehicle. NADA says $5k on a 2000 Excursion 4x4 with 100k miles. Sales price is $12k. Bank won't go for it, so looking to see if anyone has any options to explore.
Thanks
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Re: Loan for older vehicle
[Re: safarigene]
#8386073
09/15/21 06:40 PM
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Joined: Oct 2013
Posts: 5,929
Ol Thumper
THF Trophy Hunter
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THF Trophy Hunter
Joined: Oct 2013
Posts: 5,929 |
I’d put it on a zero interest card and pay it off ASAP, can’t say how many things I’ve done that with over the years. Use thr money to benefit you,,
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Re: Loan for older vehicle
[Re: safarigene]
#8386086
09/15/21 06:56 PM
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Joined: Oct 2004
Posts: 39,542
redchevy
THF Celebrity
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THF Celebrity
Joined: Oct 2004
Posts: 39,542 |
In todays day and age, if you cannot get it financed then maybe its best not to finance it?
Find a local buy here pay here car lot and I bet they would finance it for you.
It's hell eatin em live
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Re: Loan for older vehicle
[Re: safarigene]
#8386357
09/15/21 11:29 PM
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Joined: Feb 2010
Posts: 7,250
jhenderson
THF Trophy Hunter
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THF Trophy Hunter
Joined: Feb 2010
Posts: 7,250 |
Probably won’t get any bank to finance the vehicle with age and price. Best bet if you need to take a loan do a personal loan. Or borrow against your 401k but that hurts you in the long run.
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Re: Loan for older vehicle
[Re: safarigene]
#8386428
09/16/21 12:18 AM
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Joined: Sep 2005
Posts: 575
safarigene
OP
Tracker
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OP
Tracker
Joined: Sep 2005
Posts: 575 |
Thanks guys. Dealership seems to think they can get it done. If not, I guess it isn't meant to be.
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Re: Loan for older vehicle
[Re: safarigene]
#8387963
09/17/21 02:32 PM
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Joined: Nov 2014
Posts: 464
N.Tx
Bird Dog
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Bird Dog
Joined: Nov 2014
Posts: 464 |
As others have said, take a Bill of Sale to a local Bank or Credit Union that you have a relationship with.
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Re: Loan for older vehicle
[Re: safarigene]
#8388022
09/17/21 03:33 PM
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Joined: Jul 2019
Posts: 14,203
Hudbone
THF Celebrity
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THF Celebrity
Joined: Jul 2019
Posts: 14,203 |
if you buy this with a loan, make sure you get some kind of loan value payoff endorsement on your auto insurance. If ever stolen or otherwise totaled, the adjusting department won't care a whole lot about how much you paid for it or have in it.
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Re: Loan for older vehicle
[Re: N.Tx]
#8388023
09/17/21 03:33 PM
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Joined: Nov 2006
Posts: 14,031
John2
THF Celebrity
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THF Celebrity
Joined: Nov 2006
Posts: 14,031 |
As others have said, take a Bill of Sale to a local Bank or Credit Union that you have a relationship with. No bank or credit union will touch it because of that age.With nada saying $5k no way are they going $12k.
Not all those that wander are lost..
Back The Men in Blue that wears a badge
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Re: Loan for older vehicle
[Re: safarigene]
#8388078
09/17/21 04:38 PM
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Joined: Nov 2010
Posts: 199
Heavy T
Woodsman
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Woodsman
Joined: Nov 2010
Posts: 199 |
If you can get a decent 7.3 Diesel Excursion 4X4 for 12k you better find a way.
I have a 2005 with 6.0 that I wouldn't take twice that for.
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