Auto financing question
 

Friend of mine has a beautiful 2002 caddy, guy knows how to take care of cars. He is selling it and gave me first crack at it. Problem is I dont have the full amount liquid right now. I was thinking about a loan, but you cant get a loan on a 7 year old car right?

There are tons of options out there, I'm pretty sure you can get an autoloan on an older car but there might be specific limits set by your bank/credit union. Then there are personal & heloc's you could take out as well depending on your situation.

Heloc's are nice if you itemize your deductions at tax time since they are deductible.

-Bill

Try Capital One auto financing. Or your credit union, if you are in one.

I used Cap One for my Camaro loan. Did everything online.

problem is this car has 77k on the clock

Capital One doesn't offer private party sales anymore but they do offer personal loans.

Probably better off getting a personal loan...see what some banks will offer you. If you get an auto loan you'll have to carry full insurance.

I know most dealers won't finance anything over 9 years old with more then 80k on the clock

do some looking around. there are banks that will lend what you need. hell, some banks will lend up to 12 years, if you need it.