Any suggestions for financial institution for Cobra financing?

[LTHL VNM]

I'm trying to help out this prospective cobra buyer I have to find a financial institution that will give him $24,000 or more for my 35k mile cobra. For anyone who has financed an '03/'04 Cobra, can you pass along some info of who you used?
Thanks
Tony

 

[Beerdog80]

It shouldn't be up to you to find financing for someone. Whats the current NADA retail on yours? That should be in the ballpark of what they will loan max, depending on his current credit rating.

But to answer your question, I used my credit union. Credit Unions will always have the best rates.

 

[LTHL VNM]

He's in the army, just thought i would put out the feelers to see if anyone here had a suggestion

 

[swordjr24]

I used US bank on both my cobra's & my HD

 

[Sinister04L]

Tony, it's going to be hard to find a bank that will do $24k. My wife is a supervisor at our local credit union and they're pretty leniant on used cars depending on credit score. They'll do as much as 125% of NADA clean trade in value, which is a little more than clean retail value. Clean retail on an '04 Cobra with 35k miles right now is $21,275 and they'd do up to $22,500. He might have to come up with some cash. Good luck with it!

BTW what are you getting next?

 

[LTHL VNM]

Shoot me a text w her email if you think she can do that amount or a little more, scott.
Oh, R35 GTR...

 

[01Jes]

Saw that beast in the FS section Gawd damn it's badass. 800hp correct?

 

[LTHL VNM]

Saw that beast in the FS section Gawd damn it's badass. 800hp correct?

Thanks Jes! And yes, somewhere around 800 wheel on the bottle :coolman:

 

[Beerdog80]

Thanks Jes! And yes, somewhere around 800 wheel on the bottle :coolman:

:rockon::rockon::rockon:

 

[04ScSaleen325]

jj best banc & co

 

[LTHL VNM]

Got a phone number & name of anyone in particular?

 

[Sinister04L]

Shoot me a text w her email if you think she can do that amount or a little more, scott.
Oh, R35 GTR...

I figured a GTR was next, sweet. Text sent.

 

[thomas91169]

I'm trying to help out this prospective cobra buyer I have to find a financial institution that will give him $24,000 or more for my 35k mile cobra. For anyone who has financed an '03/'04 Cobra, can you pass along some info of who you used?
Thanks
Tony

Dude if someone cant figure out how to get a loan for a car.......they probably have no business even looking for a car like that.

 

[Planter]

I'm trying to help out this prospective cobra buyer I have to find a financial institution that will give him $24,000 or more for my 35k mile cobra. For anyone who has financed an '03/'04 Cobra, can you pass along some info of who you used?
Thanks
Tony

that's an 11 year old car, most banks or credit unions won't finance something that old for that high of a price because of maintenance, lack of warranty issues. there are some credit unions that will, but he'll pay a higher interest rate if they do, but most i've dealt with draw the line at 7 years.

unless he perhaps has some other collateral that is worth the value of the car, or he puts a big down payment on it, it's not happening.

 

[Sinister04L]

that's an 11 year old car, most banks or credit unions won't finance something that old for that high of a price because of maintenance, lack of warranty issues. there are some credit unions that will, but he'll pay a higher interest rate if they do, but most i've dealt with draw the line at 7 years.

unless he perhaps has some other collateral that is worth the value of the car, or he puts a big down payment on it, it's not happening.

2012-2004=11? Your math has been pretty ****ed here lately.

 

[itSSlow98]

I am in the process of financing an 03. My credit union said anything over 10 years they have no problem financing but it needs to have an appraisal done on the car. I know it doesnt apply here but just in case anyone was wondering.

As long as his credit isnt FUBAR then he shouldnt be too bad as logn as he can put down 2k or so. Im getting 4.99% APR on a loan for my next car.

 

[Planter]

2012-2004=11? Your math has been pretty ****ed here lately.

yep it has been, :nonono: idk wtf is wrong with me lately. i was thinking 03 cobra, and blah...stress and insomnia will screw your thought process up.

I am in the process of financing an 03. My credit union said anything over 10 years they have no problem financing but it needs to have an appraisal done on the car. I know it doesnt apply here but just in case anyone was wondering.

As long as his credit isnt FUBAR then he shouldnt be too bad as logn as he can put down 2k or so. Im getting 4.99% APR on a loan for my next car.

that's good, some credit unions will. just depends.

 

[Sapperstang]

Tell him to give USAA a call.

 

[CobraBob]

Tony, it's going to be hard to find a bank that will do $24k. My wife is a supervisor at our local credit union and they're pretty leniant on used cars depending on credit score. They'll do as much as 125% of NADA clean trade in value, which is a little more than clean retail value. Clean retail on an '04 Cobra with 35k miles right now is $21,275 and they'd do up to $22,500. He might have to come up with some cash. Good luck with it!

BTW what are you getting next?

This is the best info Tony. And, by the way, it just won't be the same here without you having that awesome Cobra. But parting ways, vehicle wise, happens. Tony, you might want to also call a couple of your local credit unions to get a better feel for what can be done. Of course, the buyer's credit rating will determine how much he can get and what rate he'll get. Do you know how good his credit is?

Oh, and also give AAA a call. My wife uses them and has always gotten excellent rates.