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Are you a recent EV buyer (past 3 months) as a result of manufacturer incentives and dealer discounts on these vehicles, including year-end deals? Were you convinced to buy an EV after finding a good end-of-year deal, or due to uncertainty around which EVs will no longer qualify for full/partial EV tax credits in 2024? A national business reporter is interested in speaking with you. Please reach out to [email protected] by 12/15 if interested in sharing your story.
OR
Are you a recent EV buyer (past 3 months) as a result of manufacturer incentives and dealer discounts on these vehicles, including year-end deals? Were you convinced to buy an EV after finding a good end-of-year deal, or due to uncertainty around which EVs will no longer qualify for full/partial EV tax credits in 2024? A national business reporter is interested in speaking with you. Please reach out to [email protected] by 12/15 if interested in sharing your story.
Used Vehicle Financing
Share tips & advice for getting the best rate on used vehicles.
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Secured or unsecured has no bearing on your credit, they both effect it the same.
Go to your bank or credit union and tell them you want to borrow $xxxx and you want to put the BMW up as collateral. that will get you a better rate then a signature loan.
I have checked both e-loan and Capital One Auto Finance and neither of their websites lay out guidelines for what they will and will not finance.
I would be putting $5000 down. Total vehicle price (after down payment) would be around $23,000.
My credit rating is average.
Will I just need to move up to 60 months or will someone write a loan out for 72 months for such a scenario?
Thanks in advance.
Or at least have an '01 Tacoma or something that you can drive while you sort out whatever ails the M3.
Don't get me wrong, they're great cars, but if this is what you'll rely on for transportation, and you're getting the loan-til-its-10-years-old because it's all you can afford, you are almost guaranteed to be in trouble a few years down the road.
Or two weeks from now. It's really just a matter of when, not if.
If it's your toy and you have alternatives for transportation, have at it.
-Mathias