qwerty
I'm looking to buy my first car (current car is high school/college car under the parents name), particularly an Lexus IS300 (01-05) with less than 75k miles for roughly $11,000. I have good credit and stable paying full time job.
The credit unions around me will only do loans for up to 5 years old (06 and up) with less than 70k miles.
I was look at possibly Wells Fargo, but couldn't find any requirements for the car itself.
Looking for advice for a good place either online or in person to apply, thanks!
Answer
That's really, really specific. Seaching cars.com, I only see one car nationally that even comes close:
http://www.cars.com/go/search/detail.jsp?tracktype=usedcc&csDlId=&csDgId=&listingId=64765700&listingRecNum=12&criteria=sf1Dir%3DDESC%26mkId%3D20070%26stkTyp%3DU%26mdId%3D21239%26rd%3D100000%26mlgId%3D28862%26crSrtFlds%3DstkTypId-feedSegId-mkId-mdId-mlgId-prcId%26zc%3D40242%26prcId%3D28578%26rn%3D0%26PMmt%3D1-1-0%26stkTypId%3D28881%26sf2Dir%3DASC%26sf1Nm%3Dprice%26sf2Nm%3Dmiles%26rpp%3D50%26feedSegId%3D28705&aff=national
Everything else is $12K and up or over 70K miles. You may have a tough time finding the car you want. There are some banks that will loan you money on an older car. I believe Wells Fargo will. I know Bank of America will not. Keep in mind, your local credit unions and many banks don't do older car loans for a reason. The chance that (even a low mileage) 10 year old car may not make it another 3-5 years (before you have it paid off) is very real. If that happens, their collateral is worthless. Because of this, you'll also end up paying a much higher rate as compared to something newer.
Do you really want to put yourself in a position where you may still have payments on a car that is in the junkyard? I know Lexus is a great car that should theoretically last and the mileage is low, but 10+ years old is still 10+ years old.
My advice - if you can't pay cash, stick with something newer that your local credit unions will finance. Your interest rate will be much better, the chance of it wearing out before it's paid off is much less, the maintenance costs will be much less. Wait to buy a luxury car until you can afford something newer. You'll thank yourself in the end.
Good luck!
That's really, really specific. Seaching cars.com, I only see one car nationally that even comes close:
http://www.cars.com/go/search/detail.jsp?tracktype=usedcc&csDlId=&csDgId=&listingId=64765700&listingRecNum=12&criteria=sf1Dir%3DDESC%26mkId%3D20070%26stkTyp%3DU%26mdId%3D21239%26rd%3D100000%26mlgId%3D28862%26crSrtFlds%3DstkTypId-feedSegId-mkId-mdId-mlgId-prcId%26zc%3D40242%26prcId%3D28578%26rn%3D0%26PMmt%3D1-1-0%26stkTypId%3D28881%26sf2Dir%3DASC%26sf1Nm%3Dprice%26sf2Nm%3Dmiles%26rpp%3D50%26feedSegId%3D28705&aff=national
Everything else is $12K and up or over 70K miles. You may have a tough time finding the car you want. There are some banks that will loan you money on an older car. I believe Wells Fargo will. I know Bank of America will not. Keep in mind, your local credit unions and many banks don't do older car loans for a reason. The chance that (even a low mileage) 10 year old car may not make it another 3-5 years (before you have it paid off) is very real. If that happens, their collateral is worthless. Because of this, you'll also end up paying a much higher rate as compared to something newer.
Do you really want to put yourself in a position where you may still have payments on a car that is in the junkyard? I know Lexus is a great car that should theoretically last and the mileage is low, but 10+ years old is still 10+ years old.
My advice - if you can't pay cash, stick with something newer that your local credit unions will finance. Your interest rate will be much better, the chance of it wearing out before it's paid off is much less, the maintenance costs will be much less. Wait to buy a luxury car until you can afford something newer. You'll thank yourself in the end.
Good luck!
What type of SUV should i get?
HeyyThereS
I am starting to look at cars for my first car... I have no idea what kind of car to get when it comes to brands... I don't know the most fuel efficient nor anything to do with the safety and stuff under the hood.... I just know I want an SUV lol... It has to be a from a few years back to be within my price range... and I would like it to be a little compact... like a five seater... please if you could post any SUV's you think that i may be interested in... thanks!!!!
p.s.-- the car will be mostly used for commute to school... local... mainly
Answer
I would highly recommend the Jeep Commander. I drive one and so does my mom. Both have a 2007.
- It is highly regarded for its looks and will turn a lot of heads.
- If you get the Sunroof package you get THREE. 2 sky lights in the back and one big power sunroof in front.
- I test drove the Ford Expedition, Explorer, 4Runner, Pathfinder, Durango, Tahoe, ESCALADE; and the Commander was the smoothest. I could not feel or detect the train tracks when I rolled over them. Or anything really. I took it to 80mph on Route 66 and could here no outside noise. It is SILENT!!! SMOOTH!! and SOFT!!! It has a lot of SPACIOUS to with a unique EXOTIC driving view. 5 STAR Crash Test Rating!!!!!!
- I love the growl the V6 has. It has a lot of passing power to boot and gets 16 city and 21 highway.
- Third row available
- Do not worry about the reliablity Jeep has aquired. Do not worry about recalls. The Commander has had 4 and thats nothing compared to what other companies have had. Especially Toyota recently. My dad is an Auto Mechanic and says that in truth, only 1 out of 10 people take care of there vehicle. If you take care of it, it will take care of you. My mom's Commander and my Commander have had 0 problems. I have 75k on mine. Mom has 56k.
-Go to the Jeep website and look at the Commander. They have been unchanged since 2006 you can find the luxury trim for probably around $12,000.
I would highly recommend the Jeep Commander. I drive one and so does my mom. Both have a 2007.
- It is highly regarded for its looks and will turn a lot of heads.
- If you get the Sunroof package you get THREE. 2 sky lights in the back and one big power sunroof in front.
- I test drove the Ford Expedition, Explorer, 4Runner, Pathfinder, Durango, Tahoe, ESCALADE; and the Commander was the smoothest. I could not feel or detect the train tracks when I rolled over them. Or anything really. I took it to 80mph on Route 66 and could here no outside noise. It is SILENT!!! SMOOTH!! and SOFT!!! It has a lot of SPACIOUS to with a unique EXOTIC driving view. 5 STAR Crash Test Rating!!!!!!
- I love the growl the V6 has. It has a lot of passing power to boot and gets 16 city and 21 highway.
- Third row available
- Do not worry about the reliablity Jeep has aquired. Do not worry about recalls. The Commander has had 4 and thats nothing compared to what other companies have had. Especially Toyota recently. My dad is an Auto Mechanic and says that in truth, only 1 out of 10 people take care of there vehicle. If you take care of it, it will take care of you. My mom's Commander and my Commander have had 0 problems. I have 75k on mine. Mom has 56k.
-Go to the Jeep website and look at the Commander. They have been unchanged since 2006 you can find the luxury trim for probably around $12,000.
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