Hey guys I could use some help. I moved to Florida about 7 months ago and have been working at my job for about 4. I want to buy a 95 mustang but my bank won't loan money on a car more then 5 years old. So i'm stuck with trying to find some other bank that will loan money to a new member.

This is going to be tricky because i'm 21 and have good but limited credit. I haven't lived in FL very long and that being said I haven't been working for that long at my job.

I do make decent money and have very low amount of money going out. I am guessing they will want a good bit of money down but i'm not sure. I'm also just finishing up my current loan on my car and have 2 more payments on it. I can pay it off or I can use the money towards a dp.

So I need some help/advice on who to talk to and anything I can do to help get myself approved. Thanks in advance.

 

American General Finance will finance anyone, but you have a higher interest rate usually.

 

America General uses transuinon and I have no history with them. They couldn't run an Equifax because they don't use a real credit reporter.

I still need to find somewhere to get me financed. Most banks won't finance because of the age of the car (95). I'm just under 700 beacon with a fairly short history of credit. I need help cause I want to buy this damn mustang.

 

join a credit union.

 

buy a new mustang if you want one banks are nicer to you because a new car loan is based on the retail value of the car not the deminished blue book value of a car... and that dosent cout any rebates given to you by the dealer.. so do it like this......

2004 mustang gt premium coupe 24000
minus 3000 rebates
21000

loan approval amount will be around 27k with tax tag and title.

payment will be around 350 a month for a new car.... warranty etc

or any car for that matter.. buying a new car is easier and mcdill is pretty easy on intrest rates... but you must have a 620 or higher no matter what you do other wise youll probably need a co signer.

BTW i got my 2004 gt with 0 down and rolled in 2500 from my ranger that i lost on trade in.... and i have kinda bad credit no cosigner was required.

 

or go get a gt deluxe from brandon ford for 16700... use ford credit.

 

Well i'm sure getting a new car would be easier but I really don't want to shell out 350 for 5 years when this car if I can figure out the financing will run me about 250 a month for 3 years.

I'm only trying to borrow 7grand. It shouldn't be a problem but the banks want everyone in a new car and i'm not going for it.

BTW- The car i'm trying to buy is a 95 gt convertible 5 spd with 76 thousand miles on it. It is already supercharged and looks damn nice for the age. I'm not big off into the mod motors and would prefer a 302. The fox convertibles don't do much for me and I already own 2 fox mustangs. If I wasn't set on a 5 spd this wouldn't be as hard of a car to find in reasonable shape.
I need to figure out how to make this work.

 

:shrug: i had one setup for me, when i was there a few days ago. supposedly they had about 20 left, and offered to hold one for me.

 

like the deal for Cobras for 29k? oh yeah I got one for that price at brandon Ford