ok so im looking at a 1990 with less than 10k miles on it and it has a bunch of stuff done to it,whats everyones opinion on getting a bank loan for it? the people selling it want $5700 for it and i figure i could probly get them to $5400 or so.

 

Sounds like a pretty sweet ride but good luck with that bank loan. Is that 10k original or engine miles? If you have a willing and able co-signer or can qualify yourself i would go for it.

 

engine miles. its got a new 5 spd in it to, and im hoping to have my parents co-sign the loan

 

Is that a TurboII? If not then don't go for it. It would be cheaper to get a TurboII with a popped motor ($2000 or less if the chassis/tranny is in great shape) and get it rebuilt and streetported (>$2000). Now if that was chassis miles then hell yeah jump on it, but its not worth it IMO otherwise. But I guess its an alright deal if you don't wanna deal with all that other stuff about getting it rebuilt. Anyway about getting the loan, in my limited experience with auto loans they give you a hard time with anything over blue book value (my bank anyway). Like if you apply for a $5K loan (to buy a car and other **** to go along) but the car is only worth $3000 (the other $2K was for goodies) they won't go for it - I tried (but i have barely any credit). So even if it has a new motor and other goodies they still would use the chassis miles (on the odometer) to find blue book value. If your parents and you have great credit then maybe they will give it to you, its hard to say. But good luck with whatever u do!

 

Pretty tough to get a bank loan on any 15 year old car

 

im willing to do the work of rebuilding everything in a burnt out car but the real problem is finding a 90 or 91 chassis that i can put new stuff in. if i can find body i know where i can get a 20b and a matching tranny for not to much.