I was kicking around the idea of just biting the bullet and taking out a loan to get my car completed. (I'm tired of waiting) Has anyone ever used any kind of on line loan service? Is there a reputable one out there? My bank actually has classic car loans but they only give 80% of the NADA value. I feel my car falls in between the "low retail" and the "average retail" that NADA lists, probably closer to average considering I have a TON of NOS parts here. If anyone has done anything like this, feel free to offer whatever advice or suggestions you might have. Thanks!
How much do you need? How soon will you be done? We need some financial parameters to make a proper suggestion. How good is your credit? Been a customer of your bank a long time? Which bank has your mortgage? etc
My credit is A+++ and I've been a member of my bank for about 10 years. No mortgage, I rent. It looks like I may have to go the "personal loan" route and pay a decent amount of interest along with it.... :ball:
Well, if you can pay it back quickly, interest won't be too much. You may want to compare the bank loan to some credit cards as some credit cards have a low introductory rate of 6-9% for 6 months.
I hadn't thought about using a credit card. You think credit card and high interest automatically comes to mind. That's not a bad idea....
Another idea is a credit card transfer. You can place the items you need on your existing card and then transfer them to a new one. Some cards offer the same deal, transfer your existing balance to theirs for a low rate for the first 6 months.
My mom went the "online loan" route for her durango. I guess they sold off her contract to a more local bank. Every online car loan I've seen is for $7,000+ only, nothing lower.
It's even better when they offer the lower rate until the balance is paid off, no matter how long it takes. We've used those offers a couple times.
DON"T BORROW! Don't borrow money. Pay as you go. Borrowing is not good for any reason except maybe a house. My idea! Jim N.
That's true. With 750+ credit you can get any card you want. Google away! There are plenty of sites that will list the best deals... Heck-- here you go: http://www.creditcards.com/1/index.php Good luck! Frank
