[Soden82]

Hi guys,

I first apologize if this is in the wrong section, mods please move if that is the case.

I wanted to ask members how they went about financing an older car (over 10 years old with over 100k miles), and what bank/credit union they used. Not necessarily classic or antique cars.

What was the process like?

Any pertinent vehicle information and bank information is much appreciated.

Thank you!

[TheWatchGuy]

no offense, but if youre financing a 10yo 100k + mile car, you should probably look for a much cheaper car

[jmack]

PenFed Credit Union is pretty lenient with car age and mileage while still providing competitive rates. I think 150k miles is their max, but if the car is listed for over the NADA value it will probably be denied.

[Soden82]

Originally Posted by TheWatchGuy

no offense, but if youre financing a 10yo 100k + mile car, you should probably look for a much cheaper car

Thinking about adding a rare color E46 M3 to the garage, and would rather spend the money elsewhere at the moment than putting it all in on the car. But I'll keep that in mind

[dmanb2b]

Originally Posted by Soden82

Thinking about adding a rare color E46 M3 to the garage, and would rather spend the money elsewhere at the moment than putting it all in on the car. But I'll keep that in mind

soon to be a classic. They will only appreciate. My local credit union (Sunmark) offers 1.89% up to 60mo,up to 125% of the car's FMV, regardless of age

[KevinC]

PenFed.org, Pentagon FCU. Anyone can join. Outstanding rates and customer service. Can complete loan app/approval 100% online, instant approval. I’ve used them several times. Very highly recommended.