Financing? Hmm...

[Snake556]

Hey guys,

So, I'm looking for a place that will do financing for me. Around the London area would be best, but I have no issues with calling around a bit. Can anyone recommend anywhere in particular that might do this?

[DarkCaporaL]

Your bank?

[starboy869]

I'm thinking his credit is either non-existance or poor. No bank will put a lien on cars this old and with a 13 digit vin. The best is either a line of credit from your bank, a personal loan for a fixed amount from your bank, or a loan from transcanada/captial one. The interest rate from your bank if your credit it good would be like 5 to 7 %. A high risk lender..... hmm 19.9%+

[Snake556]

My credit is perfectly fine, thank you, if not superb. I've never missed a payment. But Starboy is right, banks won't put a lien on Skylines. I'm just looking around to see if there are some other options on getting financing done and through who, as I don't have the full amount for the car available. I'll give Capital One a look. I'll have to check the bank as well. Hopefully interest rates aren't terribly ridiculous, but it's a small price to pay for my new toy, I think!

[starboy869]

If you have excellent credit then a Line of Credit would be best option if your good with credit score is good and you have a good job.

However if you have a tendancy to spend then a try applying for a personal loan route with Royal Bank, TD, CIBC, etc., before seeing captial one/chase bank. If your turned down then maybe see capital one. However be fare warned there insterest rates are cough cough.. sorry hairball cough very high

[PureEuroM3]

How much are you looking for? I might be able to arrange it for you.

[Snake556]

Looking for $10k, PureEuro. Just enough to get the car and get 'er home for the winter (not a far trek at all). Maybe $11k to cover registration costs, etc? Let me know!

Thanks for the info as well, Starboy.

[starboy869]

what are you looking at to buy? $11k... go $13k that would leave $2,000 for just incase you need something.

[Snake556]

I suppose that's also a good idea. $13 probably wouldn't hurt. Grabbing a GTR, so that's probably a good idea lol. She'll be stored all winter, so I'll have some time to rebuild my Skyline fund that dwindled very quickly what with not having a job the past year and a bit. Working full time now, however, so not particularly worried

[Shadao]

I suppose that's also a good idea. $13 probably wouldn't hurt. Grabbing a GTR, so that's probably a good idea lol. She'll be stored all winter, so I'll have some time to rebuild my Skyline fund that dwindled very quickly what with not having a job the past year and a bit. Working full time now, however, so not particularly worried

speaking from experience... dont buy it now if you're just gonna store it all winter... i did that and while im happy with the gtr i have... if i had held out over winter i would have gotten a better gtr for slightly less money....

saving over winter also allows you have more money when it comes time to purchase... which means less money loaned.... you will also get more out of a car you just bought for a spring and summer than a vehicle thats sat over winter... because cause come spring you might not take it out right away... after all it has sat for 4 months a couple more wont hurt it... and on it goes...

[Snake556]

Yeah, I've pondered this over myself as well. However, I am kind of attracted to this one in particular. I'm just looking over options at this point, and would like to talk to people about financing/loans just to see where I would stand. And as soon as the good weather hits, I'll be taking her out on the road for sure :P No doubt about that

[NismoS-tune]

Odd, most banks loan money for almost anything with the right credit and paperwork. IF for some reason you can't, try a line of credit. Of course, it's always easier when you actually own something to use against that line of credit. Have you thought of paying simple cash for the car?

I myself am no bank but I do loan with 25% interest. Of course there's paperwork and lawyers to secure things

IMO though, if you have to borrow extra just to cover registries and what not, you shouldn't be able to afford a "toy". Then again, not everyone can afford their car so to speak. Have you tried mommy bank?

[Snake556]

Well, it's not that I can't afford it. I'm making more than enough at the moment to cover the car. I just don't have it all right at this exact moment to get the car. That's why I'm looking at a loan/line of credit. I figure it would be easier to get one of those, get the car paid, and start throwing paychecks at the LOC/Loan to make it disappear quickly. Mommy bank is closed lol. Basically if I want a car, I'm buying it myself. :P

[RHDskyline]

I was in a similar situation. But because i was 16 there was no way in hell a bank was lending me money with no credit for a 19 year old car.

Lucky for me. Daddy bank was open and I used it to my full advantage.


Depending on how much you need, you could ask a close friend or relative as well.

I know my sister asked my uncle to borrow money and he did it, she paid interest and stuff too


Just a thought

[Snake556]

Not a bad plan, actually. I'm going to give it a try, but I seriously doubt it'll happen. But hey, exhaust all resources, right? :P