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Unit 5302 · 11-29-2004, 07:14 PM

Financing a 1999 at a bank will be hard enough. Most banks won't directly finance a vehicle older than about 5 years.

It's also important to consider other factors like tax, title and license. In many states that can add up to a 8-10% premium on top of the car price, and you shouldn't expect to be able to finance that portion.

Other considerations may be immediate repairs/maintanence that is needed. It's not easy to find a Mustang Cobra or GT with good rubber on it. Expect to drop another $600 easy on 4 new tires. 70k? You'll need to replace the clutch in the next couple of years. Don't forget about brakes. Bottom line is you'll probably need to have at least $4000 of cash at the time of sale to assure your loan, pay for tax, title, license, and imminent maintanence costs.

Hyper-extending yourself on a used car is a real bad idea.

11-29-2004, 07:14 PM	#10
Unit 5302 Registered Member Join Date: May 1999 Posts: 5,246	Re: Stang Loan??? Financing a 1999 at a bank will be hard enough. Most banks won't directly finance a vehicle older than about 5 years. It's also important to consider other factors like tax, title and license. In many states that can add up to a 8-10% premium on top of the car price, and you shouldn't expect to be able to finance that portion. Other considerations may be immediate repairs/maintanence that is needed. It's not easy to find a Mustang Cobra or GT with good rubber on it. Expect to drop another $600 easy on 4 new tires. 70k? You'll need to replace the clutch in the next couple of years. Don't forget about brakes. Bottom line is you'll probably need to have at least $4000 of cash at the time of sale to assure your loan, pay for tax, title, license, and imminent maintanence costs. Hyper-extending yourself on a used car is a real bad idea.