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Can I finance an older car?

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antonramps
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Can I finance an older car?

Postby antonramps » May 3rd, 2023, 6:21 pm

Wanna know what company allows to finance older cars like in the years 2009, 2012, 2015 was looking at an a4 b8 at 76k so was just wondering

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j.o.e
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Re: Can I finance an older car?

Postby j.o.e » May 3rd, 2023, 7:14 pm

Won’t be a car loan. If your credit is good and you are employed you can easily get a personal loan. However borrowing money for a car that could be a ticking time bomb is ill advised. Maybe try something cheaper and/or more reliable.

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Re: Can I finance an older car?

Postby MaxPower » May 3rd, 2023, 8:01 pm

Yeh boi Antos.

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Welcome

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Re: Can I finance an older car?

Postby Dave » May 3rd, 2023, 9:27 pm

It can be done and most likely won't be secured so it will be expensive.

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Re: Can I finance an older car?

Postby tarzan » May 3rd, 2023, 9:28 pm

If this is your first car and first loan , stay away from that Audi, that’s gonna be a money pit.

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Re: Can I finance an older car?

Postby DMan7 » May 3rd, 2023, 9:42 pm

Buy a 7 seater and use it to pay back to the loan. Simple solution.

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ProtonPowder
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Re: Can I finance an older car?

Postby ProtonPowder » May 3rd, 2023, 10:25 pm

You can take an unsecured loan at ~11.5% or a secured loan at ~6%. Do not take the loan period of an unsecured loan any more than 3-4 years because the interest piles on a lot more at that point than shorter terms.

But for the bigger picture. Do not buy a used b8 A4. You are asking for every problem in the book

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Re: Can I finance an older car?

Postby 88sins » May 4th, 2023, 6:49 am

You can, but a couple things you should be aware of.
They will want to hold the vehicle AND some form of collateral as security. Basically, they gonna want that your security to cover the loan and all the interest.
They will insist on having you provide the valuation on the vehicle, and they won't lend a cent more than it's worth.
They will give you a very short term to repay that loan (2,years max).


My advice, you can get a vehicle that's not as old for that kinda money, that's going to have less mechanical and electrical and body problems than the one you mentioned. That'd be a better option.

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Re: Can I finance an older car?

Postby ruffneck_12 » May 4th, 2023, 8:12 am

You enjoy hearing the handbrakes squeak awa

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Re: Can I finance an older car?

Postby Musical Doc » May 4th, 2023, 11:22 am

If you have to take a loan to buy that audi then don't. Maintenance/repair costs will stress you out when it happens

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Les Bain
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Re: Can I finance an older car?

Postby Les Bain » May 4th, 2023, 12:19 pm

Don't the original owners of German luxury cars get rid of them because they turn into money pits past a certain age?

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Re: Can I finance an older car?

Postby Carbon12 » May 4th, 2023, 12:53 pm

Op dont spend your $ on that money pit especially if you taking a loan, also with any used vehicle, cater to have a 10k on standby jjst in case of repairs or if anything comes up. Look for a reliable japan car (Toyota, Honda, Nissan etc) Make sure you have a reputable mechanic check any vehicle you intend to purchase to save you headache in the long run.

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Re: Can I finance an older car?

Postby 88sins » May 5th, 2023, 10:10 pm

Les Bain wrote:Don't the original owners of German luxury cars get rid of them because they turn into money pits past a certain age?



Don't worry, is not only Europeans doing it, locals too, for the exact same reason.

But OP go figure that out within the first 3 months of acquisition

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Re: Can I finance an older car?

Postby VexXx Dogg » May 5th, 2023, 10:56 pm

Dear OP.
Run in the opposite direction.

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Re: Can I finance an older car?

Postby david12 » May 6th, 2023, 7:26 am

^^^Faster than Bolt

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That's all I have to say. It's pushing the budget a little bit but I've seen a few that have been kept well around 75k already (mainly Lancers)

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Re: Can I finance an older car?

Postby DMan7 » June 2nd, 2023, 8:59 pm

Fellas how come they selling the Toyota Aqua Hybrid soo cheap locally used? I've seen a ton of them selling quite cheaply and high series (PDS and above). What going on here?

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Re: Can I finance an older car?

Postby pugboy » June 2nd, 2023, 9:03 pm

what price so?
maybe battery have low life left

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Re: Can I finance an older car?

Postby DMan7 » June 2nd, 2023, 9:21 pm

pugboy wrote:what price so?
maybe battery have low life left


Around 50K or so. Normally those vehicles especially Toyota aren't that cheap. I just find it awfully suspicious that locally owned ones are being sold that cheaply and soo much of them too.

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Re: Can I finance an older car?

Postby j.o.e » June 4th, 2023, 6:58 am

DMan7 wrote:
pugboy wrote:what price so?
maybe battery have low life left


Around 50K or so. Normally those vehicles especially Toyota aren't that cheap. I just find it awfully suspicious that locally owned ones are being sold that cheaply and soo much of them too.


I believe at one point they were tax exempt and started out cheap. A few years ago they could be bought at under 75k foreign new

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Re: Can I finance an older car?

Postby Les Bain » June 5th, 2023, 11:55 am

j.o.e wrote:
DMan7 wrote:
pugboy wrote:what price so?
maybe battery have low life left


Around 50K or so. Normally those vehicles especially Toyota aren't that cheap. I just find it awfully suspicious that locally owned ones are being sold that cheaply and soo much of them too.


I believe at one point they were tax exempt and started out cheap. A few years ago they could be bought at under 75k foreign new


But Dman say local used. If was RORO I'd be convinced of your theory but local used making it suspect, as if the owners trying catching whiff of an emerging money pit and wanna get rid of it quickly.

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DMan7
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Re: Can I finance an older car?

Postby DMan7 » June 5th, 2023, 12:01 pm

Allya check TriniCarsForSale tons of Aqua selling locally used with mileage around 50,000 KM and real cheap too for around $60K. I find it suspicious.

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j.o.e
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Re: Can I finance an older car?

Postby j.o.e » June 5th, 2023, 12:12 pm

Les Bain wrote:
j.o.e wrote:
DMan7 wrote:
pugboy wrote:what price so?
maybe battery have low life left


Around 50K or so. Normally those vehicles especially Toyota aren't that cheap. I just find it awfully suspicious that locally owned ones are being sold that cheaply and soo much of them too.


I believe at one point they were tax exempt and started out cheap. A few years ago they could be bought at under 75k foreign new


But Dman say local used. If was RORO I'd be convinced of your theory but local used making it suspect, as if the owners trying catching whiff of an emerging money pit and wanna get rid of it quickly.


True. Very possible. I steer clear of all the stereotypical bandit type cars so not familiar

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Re: Can I finance an older car?

Postby pugboy » June 5th, 2023, 12:46 pm

toyota trinidad sold aquas locally ?

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Re: Can I finance an older car?

Postby K74T » June 5th, 2023, 1:14 pm

pugboy wrote:toyota trinidad sold aquas locally ?
Yes, sold as the Prius C.

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Re: Can I finance an older car?

Postby redmanjp » June 5th, 2023, 3:33 pm

DMan7 wrote:Allya check TriniCarsForSale tons of Aqua selling locally used with mileage around 50,000 KM and real cheap too for around $60K. I find it suspicious.


no. 1 tief car in T&T, but the price was also cheap to start with as new i believe

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Re: Can I finance an older car?

Postby rollingstock » June 5th, 2023, 5:17 pm

Men having problems differentiating local used from foreign used I see

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ProtonPowder
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Re: Can I finance an older car?

Postby ProtonPowder » June 5th, 2023, 7:04 pm

Prius C=Local
Aqua= Foreign Used

Also, there are an absolute boatload of aquas and fielder hybrids driving around with dead hybrid battery packs, as a regular old gas vehicles. If you disconnect and reconnect the 12V it will start back working for a short while until the computer throws the code again and shuts off the hybrid system.

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Re: Can I finance an older car?

Postby maj. tom » June 5th, 2023, 9:10 pm

The older set of cars before the 3-years from manufacture date import rules were cheaper.

4 year old 2013/4 Aquas were like $60k normal turn key start. The push start was about $5k more. Full trim and G-series was $75k.

Then after the new rules the prices obviously raised because it was newer vehicles too. 4 year old cars for $75k were now 3 year old cars at $105k and thing.

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DMan7
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Re: Can I finance an older car?

Postby DMan7 » June 5th, 2023, 9:13 pm

Didn't the hybrid cars get a tax exemption when importing them?

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Re: Can I finance an older car?

Postby redmanjp » June 5th, 2023, 10:02 pm

ProtonPowder wrote:Prius C=Local
Aqua= Foreign Used

Also, there are an absolute boatload of aquas and fielder hybrids driving around with dead hybrid battery packs, as a regular old gas vehicles. If you disconnect and reconnect the 12V it will start back working for a short while until the computer throws the code again and shuts off the hybrid system.


i heard that driving around in gas only mode could damage the system

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