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Discussion Starter · #1 ·
Hey I'm wondering how some people are buying these cars, more specifically, a MKIV Supra. I don't know if my bank would even finance something like this, for instance, let's say a 1994 TT auto that someone would be asking like $20k. First of all I think the longest I could finance this through my bank for would be 3 years because of the age of the car, and second of all I'm figuring 7% interest, which would be alright, so the payment for 3 years comes out to be about $617/month. So I'm just wondering if people buying these cars can actually finance them or if they are just paying cash (not an option for this guy).
 

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Chuck Norris owns a Supra
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Yea a buddy of mine is having the same problem, after i got my 94 he wanted one so bad, but he'd end up having to pay 600-800 a month and some banks wont even do that. take my bank, they would only give me 8000 for a 94 non-turbo, the rest i had to pony up, which was no problem, but still, depending on the bank they wont even give you the loan that high. crappy situation, and my buddy is hatin life with his broke prelude...
 

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Banks don't usually finance a vehicle that is 9+ years old. Unless you have very good credit. So just go to your credit union and ask what you are pre-approved for (they look at your income and how long you've been in the job) and will give you an amount and just pay the rest in cash. It's very hard to finance a Supra that's why most owners pay cash for it ;)
 

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Discussion Starter · #6 ·
Alright thanks for the info people. I do have very good credit, I think last time I got a loan my credit score was like 737, and my bank is a credit union so maybe they will help me out.
 

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teh DJ
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yeap...your best bet is Capital One Auto Finance or Eloan....Most credit unions/banks won't even consider financing a 5+yr old car....
 

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My credit score was 760+ and neither my banks nor my credit unions would finance a car older than 97 (i bought a 93 supra). Capital One gave me the loan for the amount I needed with a pretty good interest rate (6.x%). I'd go with them, the transaction was fairly straight forward.
 

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Wont some banks give you a personal loan, regardless of what your using the money for, just as long as you make the payments? Im looking into one to paint my car(an easy 5k+). I would like a loan to build up more credit too.
 

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arizona, yes they do but usually the interests rates are a little higher. For 5k though, I guess it really wouldn't matter much.
 

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Capitol One is a good bet.
 

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i got mine through federal credit union. i put 10g down and financed the rest
 

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^ok?

I got a loan thru USAA.. if you have USAA they are very helpfull in getting a loan.. no one else would give me one.. or a credit card.. they gave me both.. a 55k limit on a car loan.. and a 8k limit on a credit card.
 

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Capital One auto finance here, the rate is great and payments are below $300. I did put $12k down tho. Only bad thing about them is you have to have excellent credit. Most regular banks WILL finance an older car, albeit at a higher interest rate.

Best bet: if you have a house, refinance and purchase a car that way:

- Better credit from it
- Better rate than any bank
- You get CASH, no hassles
- You own the title to the car/no liens (the bank has an interest in your house)
 

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Ckanderson said:
^ok?

I got a loan thru USAA.. if you have USAA they are very helpfull in getting a loan.. no one else would give me one.. or a credit card.. they gave me both.. a 55k limit on a car loan.. and a 8k limit on a credit card.

Thats funny, USAA gave me a 40k limit on a car loan and 12k on the credit card. :dark:
 

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i just got it through capital one too and picked up my 94 TT. really no hastle at all with them. they didnt even ask what kind of car it was.

i applied at night then called in the morning and they sent out my check the same day! cost $15 for overnight though
 

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Ckanderson said:
^ok?

I got a loan thru USAA.. if you have USAA they are very helpfull in getting a loan.. no one else would give me one.. or a credit card.. they gave me both.. a 55k limit on a car loan.. and a 8k limit on a credit card.
As usual, USAA rocks! :bigthumb:
 
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