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Wednesday, October 21, 2009

Is there a way to get an auto loan for an older car (1995)?

I tried capital one and they only have auto loans for cars dated 2001 to now. Should go through a bank rather than an online auto loan lender. Personal loans I was thinking about but interest is a little more.

Is there a way to get an auto loan for an older car (1995)?
I understand that this is how Capital One works. But I understand why they do it. You can try a loan resource online http://www.highriskfinance.com


they cater to people of all credit scores, and I heard that they do not have limits on vehicle age that they loan out on.





Good luck, hope it helps.
Reply:A personal loan is really the only way to go. Most banks will not finance a car that's more than 5 or 6 years old.
Reply:It is hard to find a loan for cars 10 years old and older or with over 100,000 miles. It may be possible to find a finance company for a '95 but the interest rate will be high. A personal loan is probably your best choice, easy to find and probably no higher interest rate than on an older vehicle.


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