Its been done but how? My 85 regal is only valued at like 1300? If it is a T-Type would they be more lienient?
My credit union will finance older cars. They use an old car price guide. When I bought my 71 GS455, I took out a loan on it. They had the price guide there for the amount they would loan. You may want to check into a CU if there's one you qualify to join.
The Bank Im already with a credit union...I didnt ask yet because Im not in the Air Force yet but do you think they would go 8k on a T-Type? with a 455 instead of a v6? Oh and one more thing...What kinda car is that in your avatar? It sucks buick dont make a 2 door car anymore. unless im mistaking??
That seems like a pretty steep amount for an '85. I could see it possibly for a nice, low-mile GN. It really depends on what they would require from you regarding the vehicle. Would you have to bring it in or just photos? Would they just take your word for it and look up the high book for an 85 T-type? I wouldn't say that it's impossible, but I really don't know. The car in my avatar is from a thread on v8buick several months back including a photoshop of what a new Grand National could look like. I took the photo and changed the colors to a sort of champagne color. I'd love to have Buick design their own version of the GTO with the LS2 engine in it!
I had to have a signature loan for my convertible when I needed the cash. Bad interest rate, but it was the only thing they would offer me.
Da bears What if I came up with like 3k of it on my own would they be like...Damn thats just a young kid wanting to go fast with class and sign the check for the rest? That is a very cool lookin car send that stuff to GM and maybe they will get with the program and make a real performance machine thats not chevy powered (like my 93 roadmaster wagon). I for one was deeply disappointed with the GTO and the monte carlo too I supose the GTO was supose to be this badass ride.......the 4 I have seen at the track only were going 14.5s in the 1/4 jeez ol cripes our riviera with the supercharged 6 went 15.4s. GM has no clue what "High Performance" means.........Dodge is getting a clue with their 500 horsepower viper trucks that no one can afford and mustang is coming around with their roush mustangs and crap like that. Personally I think GM is way behind and needs to get back to what made them the shat. What ever happened to the Buick Blackhawk????? that was a token ride that would have dominated todays competition. Sorry for the rant I just had to say it.
and then some more OH snap I just had a vision!!!! The car in your avatar with the posi rearend thats in the GTO with the Black Hawk engine that rides like a cadillac and excellerates like a fighter jet. With the port holes in the front fenders with a lenco 5 speed tranny (for the fun of it) Just a thought.....
Id save the 3 grand to pay for the high priced insurance they will demand to get the loan. Full coverage will probably cost that much for 1 year.
Vote for Bush!!! Yeah the insurance thing will be a nutslapper but If you wanna have fun yer gonna pay for it.
He eludes to being a younger guy and the bank or CU will want to know what the money is for and it would make him look more responsible for having the car covered fully just incase the worse happened. And then they would know they would still get paid no matter what.
Im lookin more at a signature loan actually....they are alot easier to get especially since I dont have a house for collateral or anything worth 8k. Full coverage insurance for me would probably be more expensive than the car payment. It sucks but could definately pay off if i blow the wheels off at the race track with all that power.
How to get financing Financing can be a PITA!!! 1) They can look up a "Basic OLD car", and go by a "BOOK VALUE". BUT that won't cut it for what you are looking at. 2) Professional Appraisal, Again, difficult, due to the car. 3) Personal Loan, and use it to buy the car. Financial "Instututions" are in the business to Make Money, and make the risks as 1 sided as possible due to the Business. Loans on a car are based on % of value, & what they can get to bail if needed. (specialty Loan) Most Banks, Loan Companies, Credit Unions won't touch these, unless you have GREAT Credit, & show Good Dependable Steady income. It will be TUFF, being that you are JUST going into the Service, & your Age. JR
Appraisals JR I am looking at EJ Howes T-Type regal the pictures arrived in the mail today and Im in love.......I know we talked some already about this, what if my cosigner (mom and dad) have outstanding credit how would that help me??? Does the value get affected since it isnt a turbo car anymore and not a stock T-type?
Buddy critter got a personal loan or what ever to re-do his Wildcat motor and they made him get insurance. He also had 0 credit and it was one of them high interest 3rd rate places that advertise in the paper. not a bank or cu just a loan company. But of course 6 months later he dropped the ins. He also wrecked the car driving drunk. took out a whole block of cars. 15-20 of them, parking on both sides and he was passed out flooring it. I can't think of the name but look in the paper for them tiny loan places. Its on the tip of my tongue. Another friend Troy borrowed $1500 to buy an 83 4 banger camaro. That blew up a week later. We use to laugh at him every month as he sent in his loan payment for a car he no longer had. Well cause he didn't listen to anyone on the purchase. Funny thing is I had a deal lined up with that same critter dude to get him a Firebird with a 400 / 4 speed stick for $800.
Waterbox guy, DON'T DO IT. Once you start going into debt, you keep going into debt! I'm 35 and I work my tail off to pay past debt and have nearly zilch to show for it. Wait till you save some bucks. Your car will come.
I'm in agreement. I fall in love with 3 cars a week. $8k for a 20 year old car with a non-original engine is ok if you've got the cash in hand. You might even make out in the long run and get your money back if you sell it. For a young guy who should be setting himself up for longterm success, it may be too much of a distraction. Say you buy this thing for eight grand and you get it financed. This is going to mean a $202 payment every month for 4 years (at 10% interest, not unreasonable with no credit and a signature loan) and you'll pay $9,739 by the time you're done. And you'll own free and clear a 24 year old car with a non original engine. You'll have paid probably $4000 to insure it for those 4 years. Let's not forget gas for a big block in the time of $2.20/gallon premium. And any maintenance that might be required.... I know that you're in love with this car but the J. Geils Band was right - "LOVE STINKS!" I think you should consider your options. If you have any mechanical abilities (or the desire to learn) what about finding a nice G body with a V6 and working on it yourself? Start with a clean Regal - should be available for less than $2k. You'll only need liability insurance if you can scratch up the cash. No payment - now you can spend a couple hundred a month on upgrades. Find and build a Buick 350 - it wouldn't take much more than a stock rebuild to get you a high 13 second car with reasonable mileage and good reliability. This is the path of wisdom - busted knuckles, sweat equity, and well earned pride. Beats hell out of having the Credit Union present at every money decision.
I agree - dont put youself in debt especially for a car where it will do nothing but depreciate, so its like you are paying Twice !! A younger guy that works for me is now on his third car lease since I hired him 5 years ago. I bought my '94 RoadMonster back when he first started for $4500 cash and insured it for liability only. Him 5 years = 60 months 60 x $400 monthly loan/lease payment = $24,000 Insurance $2,500 x 5 years = $12,500 Total = $36,000 to drive a car for 5 years !!! Me $4,500 - car $ 4,500 - insurance for 5 years total $9,000 He has nothing to show for his $36,000 dollars I have a car I could prolly sell for at least $2,000
