Anyone suggest a financing company for FD's? my bank said the car was too old!
09-18-08, 06:59 PM
#1
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Anyone suggest a financing company for FD's? my bank said the car was too old!
I'm just wondering if any of you FD owners here in Ontario could suggest a financial institution that provides auto loans for cars 14+ years old? I was approved for the amount however TD does not finance cars over 7 years old! I'm sure there has to be some places without trying to bend you over with 13+% interest rates... Any information would be greatly appreciated
Thanks
Andrew
Thanks
Andrew
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09-19-08, 06:46 AM
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Spinning Dorito
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As they said above. Your only option is either a line of credit, or save you pennies and pay cash.
As for under 10%, depending on your credit rating etc. it's very possible to get a line of credit at a point or two over prime.
As for under 10%, depending on your credit rating etc. it's very possible to get a line of credit at a point or two over prime.
09-19-08, 07:32 PM
#15
You might also want to consider a line of credit which is higher than the value of the car....considering the money pits FDs can become with repairs and/or upgrades. The approach that people normally take is either saving for a nice, clean one and they do pop up from time to time, or buying one which is in need of repair, which eases you into FD ownership and allows you to pace yourself as you build up a nice car.
09-21-08, 11:37 AM
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Any chance you own a property? You can get a line of credit for a something like a point and a half over your mortgage.
While I'm not the sort of person who likes to borrow money (never owed anything other than the mortgage and hoping to pay it off within 10 years total), the overwelming majority of people don't pay for $20k cars in cash. In a past life I sold cars and I can only think of two occations where someone actually paid cash.
While I'm not the sort of person who likes to borrow money (never owed anything other than the mortgage and hoping to pay it off within 10 years total), the overwelming majority of people don't pay for $20k cars in cash. In a past life I sold cars and I can only think of two occations where someone actually paid cash.
09-22-08, 09:44 AM
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mazdaspeed 3 coming soon
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I'm surprised you still dont have one yet...
09-25-08, 10:56 AM
#20
i bought mine with my line of credit and i just pay into that just like a car payment each month. I would definitely budget in the $25k range to start. That way you've got your car, an engine rebuild, and repairs factored in for the near future. There will always be something to fix
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