Private party financing

jbs$

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Dream on, although you may try mom, I cannot think of anyone outside of a mob connection who would take this on.
 

fulanititoo8198

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You might get a small loan but no where near a Shelby. Score too low whether fico experian or whatever.
 
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el jefe 302

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Low score will just mean you get reamed with the interest rate. As long as your income to debt ratio is fine you will qualify.


Is that 690 your median score between the three bureaus? Keep in mind when they pull your report they use the lowest score out of the three to give you the highest interest rate. For example if that 690 is your highest and 650 is your lowest, they will use the 650.

My advice to you is to quit thinking about another car right now and concentrate on getting your credit score up.

Get your credit cards to 20% utilization and under. Get some money in savings and pay off any other personal loans. Then watch those scores rise. :)
 
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03MUSCLE

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Low score will just mean you get reamed with the interest rate. As long as your income to debt ratio is fine you will qualify.


Is that 690 your median score between the three bureaus? Keep in mind when they pull your report they use the lowest score out of the three to give you the highest interest rate. For example if that 690 is your highest and 650 is your lowest, they will use the 650.

My advice to you is to quit thinking about another car right now and concentrate on getting your credit score up.

Get your credit cards to 20% utilization and under. Get some money in savings and pay off any other personal loans. Then watch those scores rise. :)

Im not buyin.... Im sellin. Im selling to a family member.
 
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ElscottHavoc

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I agree with others about focusing on improving your credit. That said, to answer your question though, I'd seek either Prosper.com or LendingClub.com.

These are peer lending sites. Multiple investors (plain Jane people and professional investors alike) buy chunks of your loan to fund it and then you pay the group of people interest for their ROI each month in addition to principle. But be forewarned, these sites will track you down and make collections on you just like a bank and everything is highly documented just like a bank too and you will get your credit hurt if you default.

That said, finding any other type of financing outside conventional is going to be hard for a car - especially an expensive sports car. Anyone willing to take such risks is going to have some pretty steep fees to offset that risk. I've worked with some hard money lenders in real estate in the past, but never actually borrowed from them, but I know those guys would never dabble in automobiles unless it was a cheap car with high returns. That and hard money lenders are brutal people to work with. If you were thinking of buying a $60k house, I'd say "let's talk", but a $60k car - I'll pass (not that I'm in a position to fund you anyways).

Posted via Topify on Android
 
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SVT-BansheeMan

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I had to get my mom to go co-sign on my L about 6 years ago when i bought it. I went with my local bank. I ended up paying near 10% interest because i didnt have enough credit. The odd thing was, they would of gave me 50% more for a new vehicle. Used was the deal killer.
 

Blackness03

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aarons04cobra

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It's on the Suntrust website. Not sure if you need to be a Suntrust member or not. Don't think so since it's not through them. My rate was 2.99% and it's unsecured so there's no lien on the title. Works out great for older cars where banks wont finance.

https://www.suntrust.com/PersonalBanking/Loans/AutoLoans


This seems pretty legit. Did you do a personal loan or an auto loan? JW because I was curious what they do about a title if its an auto loan.
 

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