Financing issues.

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philofab
Posts: 47
Joined: Thu Jul 27, 2017 11:10 am

Financing issues.

Post by philofab »

I thought I'd start a thread on financing these cars. I've been looking for a clean 2011+ 6.0L Caprice for a while, and I've noticed most banks won't finance these due to KBB not having a value. So, if you have financed one of these I'd like to hear who took the loan on.

I actually emailed KBB trying to get them to add the Caprice PPV, however their response was lame.
philofab
Posts: 47
Joined: Thu Jul 27, 2017 11:10 am

Re: Financing issues.

Post by philofab »

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v8suprcapric
Posts: 100
Joined: Sun Mar 30, 2014 9:58 pm
Location: Seattle, WA

Re: Financing issues.

Post by v8suprcapric »

I had to just get a high interest personal loan due to the same problem. Only NADA had the value listed and my bank only used KBB. Their reasoning for not using both was then they'd get into situations where one had a different price listed than the other.
Image
1987 Landau (383 stroker, vortec heads, 700r4, posi rear, Bilstein shocks, Eibach springs, Bassett 15x8, BFGoodrich 275/60, 9C1 speedo)
2011 9C3 (K&N CAI, Weldcraft widened 18x9 factory steelies, Bridgestone 285/35)
v8suprcapric
Posts: 100
Joined: Sun Mar 30, 2014 9:58 pm
Location: Seattle, WA

Re: Financing issues.

Post by v8suprcapric »

Funny thing too, when I bought a cargo van the only loan I could get was at 10% because they said I "could be using it for business". This purchase and my PPV all taking place while I have impeccable very high credit and my only debt is my house.
Image
1987 Landau (383 stroker, vortec heads, 700r4, posi rear, Bilstein shocks, Eibach springs, Bassett 15x8, BFGoodrich 275/60, 9C1 speedo)
2011 9C3 (K&N CAI, Weldcraft widened 18x9 factory steelies, Bridgestone 285/35)
thirdgenfarmer
Posts: 67
Joined: Sat Apr 29, 2017 11:47 am

Re: Financing issues.

Post by thirdgenfarmer »

I recently refinanced through my credit union @ 2.79%, prior to that I financed through Wells Fargo @ 5.99%. Purchase was through a dealership and was one of five places they attempted, and the only to make an offer.
2011 9c1

"It's got a cop motor, a 364-cubic-inch plant. It's got cop tires, cop suspension, cop shocks..."
philofab
Posts: 47
Joined: Thu Jul 27, 2017 11:10 am

Re: Financing issues.

Post by philofab »

That's interesting. The only finance company that has made me an offer is Ally for 14.44% with 7K down on a 15K vehicle. That's way out of line.

I've emailed the two credit unions I have accounts with to see what they can do. No point in paying that much.

The car I want has been at the dealer for 6 months... they say they can't sell it due to financing issues. That dealer said that Wells Fargo said no way!

I don't want to send apps out everywhere and get 50 inq on my credit report. It's bad enough with the three it currently has.
v8suprcapric
Posts: 100
Joined: Sun Mar 30, 2014 9:58 pm
Location: Seattle, WA

Re: Financing issues.

Post by v8suprcapric »

Is there no bank that uses NADA rather than KBB so that you could get the actual car loan at low interest from that bank? That's what I would have researched but was in a hurry to get the deal done quick.
Image
1987 Landau (383 stroker, vortec heads, 700r4, posi rear, Bilstein shocks, Eibach springs, Bassett 15x8, BFGoodrich 275/60, 9C1 speedo)
2011 9C3 (K&N CAI, Weldcraft widened 18x9 factory steelies, Bridgestone 285/35)
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elc32955
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Re: Financing issues.

Post by elc32955 »

My credit union (Space Coast Credit Union) covering Central and South Florida uses NADA. Might consider scouting CU's in the area you live, they're usually a pretty good deal on loans provided you meet their lending criteria.

Eric
System Manager and your tour guide for the day. 2015 Caprice w/LFX, former NC DPS staff car. Partial hybrid G8/SS/Camaro SS interior mods, SS MyLink radio upgrade, 2016 Camaro V6 rims, GMPP Malibu chrome exhaust tips, otherwise bone stock for now.
s/c'd cav
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Location: PHOENIX AZ

Re: Financing issues.

Post by s/c'd cav »

philofab wrote:That's interesting. The only finance company that has made me an offer is Ally for 14.44% with 7K down on a 15K vehicle. That's way out of line.

I've emailed the two credit unions I have accounts with to see what they can do. No point in paying that much.

The car I want has been at the dealer for 6 months... they say they can't sell it due to financing issues. That dealer said that Wells Fargo said no way!

I don't want to send apps out everywhere and get 50 inq on my credit report. It's bad enough with the three it currently has.
got mine from stingray chevy , and ally is who we got financed from , all was reasonable , think my interest rate is about 10% and my credit isnt bad , but isnt great , lol

but buying from a dealer is always easier
robbyburty
Posts: 6
Joined: Sat Jul 01, 2017 9:34 pm

Re: Financing issues.

Post by robbyburty »

I was able to only finance $8400 for a 2013 (car was $13k TTL). The bank wouldn't value it any more than that.

However, I got loan with credit union for 1.6% for 4 years.

Can't beat that...$200 to borrow money for 4 years...easy peasy.
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