Lookin to buy an ls1 in la
#1
10-04-2006, 08:39 AM
Lookin to buy an ls1 in la
I'm 19 and looking to buy an ls1 soon. My price range is from 5-10,000, but I want to get it from a delrshp so I can put payments. What kind of deals you guys think I can probably get. I want to pay as lil as posble but I also want a nice car. Brief description below.
#2
10-04-2006, 03:16 PM
RE: Lookin to buy an ls1 in la
Why V6? not saying that it is bad, just most people look for the 8. Anyway just a heads-up I'm a car salesman so some things to consider.
You will almost always pay more for a car off the lot.
You don't have to buy off a lot to make payments, join a credit union or get a loan set up through your bank first. Then u can buy off a lot or from a private seller
The car lot will add points to your intrest rate. Meaning if you qualify for 6.99% they may tell u the best you can get is 8.99% so you pay more money.
Do not buy a warranty or Gap insurance if they offer it to you, on a car that old and that you will work on yourself those things are pointless, and if you pay attention to the intrest that u pay on top of the price they are not worth it.
Just a heads up; unless you have excellent credit or a lot of money down u will find it very hard to find a loan for this kind of car. Almost all banks will not finance a car more than 7 yrs old unless you have a screamin credit score, and even then they will hit you with a ridiculous rate. like 14-19%
You will almost always pay more for a car off the lot.
You don't have to buy off a lot to make payments, join a credit union or get a loan set up through your bank first. Then u can buy off a lot or from a private seller
The car lot will add points to your intrest rate. Meaning if you qualify for 6.99% they may tell u the best you can get is 8.99% so you pay more money.
Do not buy a warranty or Gap insurance if they offer it to you, on a car that old and that you will work on yourself those things are pointless, and if you pay attention to the intrest that u pay on top of the price they are not worth it.
Just a heads up; unless you have excellent credit or a lot of money down u will find it very hard to find a loan for this kind of car. Almost all banks will not finance a car more than 7 yrs old unless you have a screamin credit score, and even then they will hit you with a ridiculous rate. like 14-19%
#3
10-04-2006, 05:37 PM
RE: Lookin to buy an ls1 in la
Its not impossible to get 100% finiancing on a car that old, I just got 9.9% for 100% of 10K for my 99 z28 with 56k miles. I talked the dealership down to 9500 from 11500 because these cars arent selling. Who wants a rear wheel drive, gas guzzler before the winter? Me because I realized this is the time to buy this type of car. My credit is ok, like 680, but not the best. Try Citi Auto Financial thats where I got my loan. Or like he said, your local credit union, dont be scared of higher interest rates, the difference is as follows....
8% for 60 months for $10000 - $202/mo
9% " " - $207/mo
14% " " - $232/mo
19% " " - $259/mo
The difference being $57/mo from 8 - 19% - If you want the car, shop around, get the best rate you can get and go for it!
8% for 60 months for $10000 - $202/mo
9% " " - $207/mo
14% " " - $232/mo
19% " " - $259/mo
The difference being $57/mo from 8 - 19% - If you want the car, shop around, get the best rate you can get and go for it!
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