Anyone here in NY have a good rate on thier car loan?

i'm looking to buy a salvage car from an auction shortly and need some $$$ for it.

thanks!

 

FYI. Most loan places will not loan $$ on a salvage car.

 

thats what i was afraid of .. thing is its only salvage cause it was stolen .. not wrecked!

 

True. Try a credit union instead of a regular bank. My credit union where I have my car financed charges me 6.9% if I let them automatically deduct the payment from my account. If you pay by check or transfer funds, its 7.9%. Check for credit unions in your area.

 

try Capital one?

http://www.capitaloneautofinance.com...e/Default.aspx

I just applied for their loan online, rate depends on credit score - (i got 5.9% for a used car with good credit history)
you just fill out a simple form online and when/if they approve you (took me 15 minutes) they send you a "blank check" which they say you can even use for a person-to-person sale (which most banks wont lend for also - they require you to buy from a dealer). On the check, you just make it out to whoever is selling and the VIN number. i will double check the terms on it one i get home but im pretty sure you can use it for a salvage titled car (since they wont know until after you buy it anyway)
Hope that helps

 

they will finance a Salvage Title Car.

 

That is crazy high!!! How long are you financing???

 

6.9% is high? It was for 5 years. My credit wasnt "great" at the time.

 

www.penfed.org

they have online quotes for 4.25% for 24-60 month loans on used cars

 

6.9 is crazy high? Its not great, but on a used car I know people who are much, much higher.