Oshin11

I bought my 3.2 with capital one but since 4/2008 they no longer provide auto loans from purchases via private party. I think First Again gives good rates (to people with excellent credit of course). I was wondering if anyone has worked with them and taken a loan from them. Experiences? Not sure if my credit is good enough either because I am 23, althought my FICO is nearing 800. Any other companies work well? Please tell me your experiences. Thanks!

Charles Navarro

Try JJ Best Banc. They've done a few loans for me over the years and are very easy to work with - moreso than eloan or cap1.

1985ruf

JJBest requires immaculate/substantial credit. Obviously cap1 is out of the question for cars over 10 years. Eloan I heard was just as easy as cap1. Not sure who else is out there.

I also would like to know what other lenders are out there.

Thanks,
Jim

plymouthcolt

I used JJ Best Banc for my Carrera.

Oshin11

JJ Banc seems like its used for classic cars....im going 1997 993 I DO have substantial credit though like I said before.

old man neri

I dunno, to me buying an old school 911 on credit didn't seem like a good idea. I just bought cash and had plenty of reserves. But that's just me.

Oshin11

Im not buying it on credit really. If I buy this new car I would sell the 3.2 and use the money to pay off the loan.

nicklouse10

This might work differently in the States, but in the UK if you take out a loan, you have to pay all the interest due on it for the term of the loan, even if you paid it off early. It makes doing what you're planning (taking out a loan form a new car then paying it off after selling your existing car) a very expensive way of borrowing money as you have to pay all the interest whether you pay it off monthly or in one hit.

Nick

84_Carrera

1) Cap One was NOT out of the question for 10+ year old cars. I have Cap One for my '84 911, since 11/04. I went with them because they were the ones who bought out...

2) The people I used for one of my Taurus SHOs, PeopleFirst Finance. PF were extraordinary people to deal with, went above & beyond with any questions, issues, etc. - I was very pleased.

3) Cap One has been pretty bulletproof with no issues, Blank Check is more readily accepted now, but their rates are higher now compared to others vs. when PF ran the shop.

I didn't know they dropped private party sales though.

Hope this helps.

GothingNC

This was posted over at Pelican

Effective 4/15/2008, Capital One Auto Finance does not provide financing for the following vehicles: vehicles older than 7 years, vehicles with more than 70,000 miles, auto purchases from individuals (private party or person-to-person auto sales), motorcycles (dealer or private party), or lease buyouts. Financing must be used at franchised dealers

So that means if someone uses Capital One for a Used car they are required to pay the 3% sales tax since it is only valid with a dealer so for a $20,000 car the tax will be $600

Sales tax is not charged on provate party sales in NC, just the property tax which is based upon book value (very low or a car over 7 years old) and was only $80 on my Targa.

You can try this place

https://www.penfed.org/productsAndRa...dAutoLoans.asp

Just need to pay a $20 fee and they will finance 90% of the value.

John

J. Brinkley

first again is a lot nicer than capital one. I've used C one twice and first again once. Easy and fast.
never a problem and FA is just a sig loan. No lien on what your buying.
the worst they can do is say no. A higher score will make up for lack of longevity.

Oshin11

Hmmm 4.25 percent? Sounds good to me! I can pay 10 percent of 22K I think.

cjmack4

I just used First Again to buy my '91 Targa. They were terrific. Even easier than People First/Cap One which I used for my previous 3 vehicles. No check, they just wire the money into your account.

Streetfighter

Here is my two cents, trying to sell your 3.2 right now will be difficult. I would sell it first then buy the 993 or hang onto the 3.2 and buy the 993 down the road. Difficult having to pay two loans, but that maybe something you can handle. I have used JJ Best Banc, they are okay to work with, you will need a good credit score. They will only finance up to 90% of the loan, their rates are better than Capitol Ones. Good luck.

Oshin11

Hmmm streetfighter I may do that because after the interior restoration I am almost done doing I may fall in love all over again with the 3.2