Will a bank or credit union finance a car that is 8 years old?
I want to buy a 2001 Jeep Grand Cherokee that has 95k miles on it. The car is $ 5900 and I have $ 1500 to put down. Will a bank or credit union finance the rest even though the car isn't very new?
Finance best answer:
Answer by rebeli812
depends on bluebook value. if the car is worth that much they might. though they dont like to finance older vehicals. might be higher interest and only get 24-36 month loan.
Finance
Wayne Mayor Abdul Haidous, Andy Schor, and Sterling Heights Mayor Richard Nottee Testify at Senate Finance Committee Hearing Photo by Michigan Municipal League
Image by Michigan Municipal League (MML)
Mayor Abdul Haidous of the city of Wayne and Sterling Heights Mayor Richard Notte were in Lansing on Thursday, with Michigan Municipal League staffer Andy Schor, to testify at the Senate Finance Committee's first hearing on SB 34, which would eliminate the personal property tax. Read the Feb. 3rd Action Alert (http://www.mml.org/advocacy/alerts_advisories/2011_02_4_action.html) which explains the League's position on the bill, and the steps local leaders are taking to make sure committee members understand the devastating impact this would have on local public services should it be enacted without a replacement for the revenues to local communities. For more about the League and what we do go to mml.org.
Orignal From: Will a bank or credit union finance a car that is 8 years old? and Wayne Mayor Abdul Haidous, Andy Schor, and Sterling Heights Mayor Richard Nottee Testify at Senate Finance Committee Hearing Photo by Michigan Municipal League
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