Financing a ZHP

[MiniXP]

Where have any of you financed a ZHP? I know I'm probably going to run into issues with most banks because of the age of the car.

I'm in North Carolina, does anyone have any credit unions or anything in NC that they would recommend? I've always heard that a credit union is the way to go for older cars, but it seems a lot of them have age limits as well.

[mbeckel]

Where have any of you financed a ZHP? I know I'm probably going to run into issues with most banks because of the age of the car.

I'm in North Carolina, does anyone have any credit unions or anything in NC that they would recommend? I've always heard that a credit union is the way to go for older cars, but it seems a lot of them have age limits as well.

Try Amoco Credit Union

Sent from in the bushes

[mbeckel]

Where have any of you financed a ZHP? I know I'm probably going to run into issues with most banks because of the age of the car.

I'm in North Carolina, does anyone have any credit unions or anything in NC that they would recommend? I've always heard that a credit union is the way to go for older cars, but it seems a lot of them have age limits as well.

Or Shell Federal Credit Union

Sent from in the bushes

[gmurphy]

Wells fargo


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[Tnhl1989]

The usual cut off I believe is about 10 years old. However I am sure credit unions are a bit more flexible than others. They are always willing to give you a hand.

[MiniXP]

The usual cut off I believe is about 10 years old. However I am sure credit unions are a bit more flexible than others. They are always willing to give you a hand.

I'm looking at an 05, so I should just make it under the 10 years. I have seen some that have cut offs at like 3 years though.

Gmurphy do you have a loan with wells fargo? If so how's the interest rate?

[oldzilla]

Where have any of you financed a ZHP? I know I'm probably going to run into issues with most banks because of the age of the car.

I'm in North Carolina, does anyone have any credit unions or anything in NC that they would recommend? I've always heard that a credit union is the way to go for older cars, but it seems a lot of them have age limits as well.

I financed my ZHP you will run into age limitations in my case 2006 or newer and lucky for me the ZHP I wanted was a 06 vert. I went through my CC company they gave me the better interest rate compared to my credit union. My bank, Credit Union and CC company all stated 2006 or newer but that can verify from state to state and credit union to credit union. Hope this is helpful.

[gmurphy]

It's pretty high at 9%


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[Hornung418]

I took a loan out for mine. 4% Interest. Paid $7500 for mine.

Sent from my GS3.

[MiniXP]

I took a loan out for mine. 4% Interest. Paid $7500 for mine.

Sent from my GS3.

Where did you get the loan?

[NoVAphotog]

Loan through my work credit union, 15k @ 2.1%. Sold my Speed3 for 11k, and put down 1k. Have about 3k left on her. Credit Unions/government job FTW.

[LivesNearCostco]

I tried to finance my ZHP through my credit union back in 2010 because they offered--and still offer--really good used car rates, but at the time they required the car be no longer than 6 years and my car was 6.5 years old when purchased. I actually partly financed it through LendingClub.com on a signature loan (not an auto loan) so I paid a much higher interest rate but paid it off after 2 years.

[johnrando]

You could try to find one through a dealer and they will likely finance.

[QC_ZHP]

Where in NC?

I live in CLT but work in SC so I was able to use a SC Credit Union. I believe its around 4%. CU's are definitely the way to go.

[TylerDZHP]

I financed mine through my credit union in Oklahoma City. 17k at 3% for 5 years that will be payed off much faster once my student loans die... :(

[RITmusic2k]

Big fan of credit unions here -

I've been with Digital Federal Credit Union for my last three vehicles and I've only had positive experiences with them. They've let me finance for independent sales, dealership sales, you name it. In the case of my ZHP, they just gave me a blanket approval before I negotiated the final price on my car, so they approved me for something ridiculous like $45k just to make sure it covered everything I'd need it to.

DCU is available nationwide (http://dcu.org/), and they have great rates right now - floating between 1.5% and 4% for members with excellent credit ratings.

[webster]

Another CU finance here. Amoco federal credit union. $15.7k over 4 years at 3.45% ($350/mo). Have 15 months left on the loan.

[TheFinanceGuy]

Big fan of credit unions here -

I've been with Digital Federal Credit Union for my last three vehicles and I've only had positive experiences with them. They've let me finance for independent sales, dealership sales, you name it. In the case of my ZHP, they just gave me a blanket approval before I negotiated the final price on my car, so they approved me for something ridiculous like $45k just to make sure it covered everything I'd need it to.

DCU is available nationwide (http://dcu.org/), and they have great rates right now - floating between 1.5% and 4% for members with excellent credit ratings.

With DCU you must pay off the car before it is 12 years old. I just financed my car with them (as I'd have lost more money in fines pulling my money out of my investments...). I got a 1.25% rate.
Since I live next to a DCU, I just walked in and picked up the check. Though, you do need a bill of sale, or intent to sell.