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  #1  
Old March 12th, 2009, 10:29 PM
icurnmedic
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Thomas Church
1994 Red D90
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Financing a vehicle

I'm looking at purchasing a 1994 or 1995, really does not matter, but in the low 20's , my question with things the way they are at the moment, are there any companies, banks etc.. that are better to get financing through? My wife heard that if it is more than 10 years old that banks will not touch, and finance companies may balk as well. Anyone here financed one lately? Any preliminary steps that I should take before even inquiring? Oh and one last thing , give me a real world price on a 1994 or 1995 w/ around 60k miles, minimal rust , clean carfax. Thanks for your help!
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  #2  
Old March 12th, 2009, 10:40 PM
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Scott
1997 D90 ST #1444
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Try a credit union or a community bank. Years ago, may people used Capital One or Eloan, but I think those options may be gone now.

Real world price for a nice, clean, low milage 94-95 would be $23K - $26K, but there are exceptions, especially with additional options, maintenance records and exceptional condition.
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  #3  
Old March 12th, 2009, 10:48 PM
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Andrew Najarian
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Over 10 yrs. is usually very difficult or impossible unless it is a special vehicle in some way. If the bank complains, you should stress it's limited production etc. Many times, the person looking at the application has no idea if the vehicle is special in some way. That being said, there will still be banks that will decline it, or some may require a large down payment in order to approve it.
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  #4  
Old March 12th, 2009, 10:55 PM
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Kelly Graham
P38
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Hey try www.jjbest.com ....they usually require quite a bit down but you should get financed....If you have trouble give me a call. I work at Land Rover Nashville and we get questionable deals financed daily.....615-957-1805

Kelly Graham
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  #5  
Old March 12th, 2009, 11:10 PM
icurnmedic
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Thomas Church
1994 Red D90
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I may do that Kelly! Thanks for the quick replies!
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  #6  
Old March 12th, 2009, 11:33 PM
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Ryan
1966 S2a 88" | 2006 LR3
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I used Capital One in late 2007 to purchase a 94 D90.. The interest rates are a bit higher (I think I got like 7.9% which was the absolute best rate they could offer).... and they wanted me to get the car to pass inspection before they would clear the check..
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  #7  
Old March 13th, 2009, 12:53 AM
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Dendy Jarrett
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Kelly (who by the way is a great guy and a good friend) is right. JJBest (or the like) is your only answer out there right now.
Gone are the days of Capital One, ELoan, or Chase. The new criteria is no older than 2002 and no more miles than 70K.

Your other great option is to use a home equity line to make the purchase. At least with a Defender, you are not typically buying a depreciating asset or liability.

JJBest did my 110 and were great to work with. They will require 10% down (no exceptions).

Dendy
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  #8  
Old March 13th, 2009, 01:21 PM
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Philip Marshall
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I went through USAA and didn't have any problems at all. Took like 30 min This was for a 94 d90 with 124k on it Of course you have to be military or a child of a retired military to get in with them...
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  #9  
Old March 13th, 2009, 03:03 PM
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Dave C
1983 110
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My credit union has given me no problems on older (strange) vehicles. I'd start there. If you aren't a customer already, then suggesting you might become one helps ease the deal (that's how I first got with mine).
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  #10  
Old March 13th, 2009, 05:09 PM
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Gary
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Quote:
Originally Posted by JSBriggs
The upside of this is that your interest expense is deductible.

-Jeff
On the other hand, you are using long term debt to finance a short term asset.
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  #11  
Old March 13th, 2009, 05:22 PM
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hyter Lancaster
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maybe it was just the guy I talked to but I called JJ's and he told. Me they wouldn't do a 94 d90 because it's not 25 years old and it's an SUV...WTF??
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  #12  
Old March 13th, 2009, 10:59 PM
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Buck
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Put it on your credit card, and then don't pay it. You'll probably get a free vacation with the miles, and Obama will take care of you.
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  #13  
Old March 14th, 2009, 06:25 AM
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Dale
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Buck, don't be so synical. It usually goes like : Illegal alien buys it on credit card, gets free vacation points, defaults- we all pay, gets hit by American female applying makeup while on cellphone, gets free healthcare, collects check from American female insurance co for ED visit & 90- since 90 is unecumberred, and doesn't pay hospital. Obama grants citizenship, forgives debts, gives a little upstart stimulus, and D-90's depreciate since we can't afford one d/t , well you get it. And the bank won't lend Thomas the $$ to replace his last 90 since the banks have gone bust ....... and I'm not even racist/sexest, just realist.
Sorry Thomas, couldn't resist, and thought you would get a kick out of it- hope you are well, and coming to Safari next month- with or without a new 90!!
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  #14  
Old March 14th, 2009, 06:33 AM
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Julian Kotting
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perhaps he'd like a cheap 110?
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  #15  
Old March 14th, 2009, 09:03 AM
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Dendy Jarrett
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Funny- JJ BEST did my 93 110. Not sure why they are acting that way.


Dale, ... don't get me started!

Dendy
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  #16  
Old March 15th, 2009, 10:49 AM
icurnmedic
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Thomas Church
1994 Red D90
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Quote:
Originally Posted by rovertrader
Buck, don't be so synical. It usually goes like : Illegal alien buys it on credit card, gets free vacation points, defaults- we all pay, gets hit by American female applying makeup while on cellphone, gets free healthcare, collects check from American female insurance co for ED visit & 90- since 90 is unecumberred, and doesn't pay hospital. Obama grants citizenship, forgives debts, gives a little upstart stimulus, and D-90's depreciate since we can't afford one d/t , well you get it. And the bank won't lend Thomas the $$ to replace his last 90 since the banks have gone bust ....... and I'm not even racist/sexest, just realist.
Sorry Thomas, couldn't resist, and thought you would get a kick out of it- hope you are well, and coming to Safari next month- with or without a new 90!!
Dale you are not far off. I actually make a healthy sum more than I ever have, wife too, and they look at us kind of funny when we went into Wachovia and inquired, and didn't even want to know about our income. Hell we pay enough taxes to pay the loans on probably 5-6 defenders per month. Makes no sense to me. Where is the Safari you speak of? Ill have to bring my Tacoma , but it should do fine.Let me know and thanks again everyone for your suggestions!
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  #17  
Old March 15th, 2009, 12:49 PM
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J. Landers
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You can finance it through USAA, they are great to deal with, very solid company. You can use their banking services without being military. I highly recommend them. They have loaned me money on all sorts of wired cars, even a few with mileage over 200k.
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  #18  
Old March 15th, 2009, 03:47 PM
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Eric Lindstrom
1994 d-90 #1444
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I used Capital One as well. I bought my 94 d90 st in the fall of 08. The rate they gave me was 6.0 %
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  #19  
Old March 15th, 2009, 06:55 PM
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Phillip
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Quote:
Originally Posted by icurnmedic
I'm looking at purchasing a 1994 or 1995, really does not matter, but in the low 20's , my question with things the way they are at the moment, are there any companies, banks etc.. that are better to get financing through? My wife heard that if it is more than 10 years old that banks will not touch, and finance companies may balk as well. Anyone here financed one lately? Any preliminary steps that I should take before even inquiring? Oh and one last thing , give me a real world price on a 1994 or 1995 w/ around 60k miles, minimal rust , clean carfax. Thanks for your help!

DId you just sell one not to long ago?
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  #20  
Old March 15th, 2009, 07:52 PM
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Dale
Tithonus 110, D-90, 109 S/T 5-door
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Thomas- Uwharrie Safari at Uwharrie Nat'l Forest the 16th through 19th of April. Good long time event- come join us -you guys can always ride with us after you stick the Toy :-)
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