Finance a car??

Question

How many years can you finance a car that is a 2000 model?? Someone told me only 2years is that right??

Answer 1

No, that is not true at all. There are no hard-and-fast rules as to how long you can finance a car, new or used. It depends entirely on the lender you go through. Most lenders will finance a used car purchase up to 72 months. In fact, they'd probably prefer it, because the longer the life of the loan, the more interest you will pay.

Just for reference, here's a link to Capital One Auto Finance, which gives their rates for various loans:
http://capitalone.com/autoloans/loans/index.php

Keep in mind these rates are for people with excellent credit.

Answer 2

Credit Unions don't care about age like a traditional lender I have 8 Credit Unions that my dealership uses that write loans on any car 15 years old or newer to 84 Mos. Some have dollar figure minimums but some dont care they will finance any amount for the max term. Good Luck

Answer 3

OK hard to find a bank that will do 72 on a 2000 model YR car. basically 2001 or newer under 70K miles can get done for 60 With approved credit. now if you have rock-star credit. you can get 72. but generally speaking ppl with that good of credit aren't looking for a 8-9 yr old car. and capital one is a good place to start since they are a sub prime lender.

Answer 4

I don't know if this helps, but we financed a 2001 Volvo for five years, so I think that it depends on the dealer and the lending institution, as well as the condition of the car.

Answer 5

It would depend entirely on the lending policies of the institution loaning the money on the car, the worth of the vehicle, and the size of the down payment. There is no cut and dried rule.

Answer 6

depends on the amount of money to finance and your personal credit, but i would think 42 months would be more like it.