Originally Posted by irontmp

I have never purchased an old/Classic car before, upon checking with my bank they don't finance anything older the 15 years. I'm looking at a restored 69 coupe in TX. Which finance institution/ bank would you recommend? The classic car shop in TX has one recommended on it's web site but I would like to shop around to ensure I'm getting the best rate for my purchase/loan. Do these financing companies have any weird stipulation because these vehicles are old/classics that I should be aware of? Any Pro's/Con's or experiences you have and want to share would be greatly appreciated.

Originally Posted by JeffTonu

If you're looking for the best place for an second hand car loan, I'd say credit unions are a solid bet. They often have lower rates and more personalized service compared to big banks. Plus, they might be more willing to work with you if your credit isn't perfect. Another option is online lenders. They can be super convenient and sometimes offer competitive rates, especially if you have good credit.Dealerships also offer financing, but be careful with those. Sometimes they can sneak in higher rates or add-ons that you don't need.Shop around and compare rates from different lenders. Look for hidden fees and make sure you understand all the terms before signing anything.

Originally Posted by trez63

By far the best auto loan you can get in the US right now is from the Library of Congress Credit Union. To become a member all you need to do is join the "American Library Association" which will cost you $70 for the first year, and you can cancel after that. Then all your family members can join because you are a member. You're welcome.

Originally Posted by trez63

By far the best auto loan you can get in the US right now is from the Library of Congress Credit Union. To become a member all you need to do is join the "American Library Association" which will cost you $70 for the first year, and you can cancel after that. Then all your family members can join because you are a member. You're welcome.

Originally Posted by usctrojanGT3

Will they finance cars registerd in California and Nevada?

Originally Posted by M3Inline6

What kind of rates are we talking here?




What he said!!

Originally Posted by bigkraig

6.74 with unify https://www.unifyfcu.com/rates

Originally Posted by usctrojanGT3

How do you become a member?

Originally Posted by irontmp

Me and my other half are looking to buy our first decent car, we’ve been using older cars for a while, and even through they serve there purpose well, this years MOT costs about 40% of both cars value, and generally my feeling is they’ll only get worse or go bang. I never really borrowed a large amount, nor am I happy about doing it especially in this turbulent economy. However, I’ve been researching and it seems the sensible calculation for what you can borrow is the 20/4/10 method. Collectively we take home £5122, after all of our rent and Direct debt bills we are left with £3155. We spend roughly £150-200 a month on fuel. So going of the 20/4/10 calculation the monthly car spend for us is £315 assuming the 10% is after bills? £315-£200 in fuel leave us with £115 a month to spend on the loan. £115/month really doesn’t get you much. Is this 20/4/10 calculation outdated for the current climate? I think I want to hear peoples opinions on ascentra credit union customer service; - Is borrowing in this climate wise or should I hold out with the older cars for now? - Do you base the ‘no more than 10% monthly spend’ before or after bills? - We’re looking to buy a house in a year or two and need to improve our credit rating, is it better to finance against the car or bank loan? (I like the option to pay off earlier with the bank loan) many thanks.