Best financing options for used vehicles (Jeep)?

ShowroomShine

ShowroomShine

The Detailing Jeeper
Joined
Feb 23, 2012
Location
Wake Forest, NC
I'm not sure if I want to go this way or not, but if I can use someone elses money for a low total cost to own I have no problem with that.

I looked at a few different options, but interest rates varied from 3.39-6.74%, with up to around 60 months. I'm not sure if banks would even be interested in financing a nearly 17yr old Jeep.

Any opinions?
 
Join a local credit union. Most have rates below 2%. I know mine has 1.5% for 60 right now.
 
You are going to want to call a bank. Most of them will not touch a vehicle that old for a loan simply because they cannot guarantee to get their money back if you default on the loan. You may want to simply open a personal line of credit and use that. That way you do not have to hand over the title to the bank.
 
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