Is this Rubicon worth it?

Well, I would adopt you if you lived close by .

Those deals always come around at weird times ...or when you.just don't have the money laying around .

If you can swing it , keep the conversation alive with him if it's right for you . It looks like a good one .
I'm gonna talk to the loan officer tomorrow and keep working with the gentleman.
 
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I’m with you @AndyG, nothing shouts “you bastard” like being slapped in the face with 100 “C” notes.
This reminds me of the guy taking a dump out the train window ...

Train pulls in the station....

Two thugs standing standing there , one says "you slap his jaws Mugsy...I'll grab his cigar"
 
Curious what bank will give you a car loan on a 15 year old vehicle ? And if you do find one, the rates gotta be off the map ! Or are you getting a personal loan with the rate off the map & outa this world ?

I have an idea:
I have the $10,000 cash, let me buy it & and you can come use it on weekends if you wash it when your done ;) ;)
 
I had a deal of a lifetime slip through my hands (this is a good deal, not saying a lifetime deal).

I was 17, always wanted a early bronco. One came up for sale at a gas station. It was a ‘74, nicely built, clean and he wanted $5500. This was back in 1995, so not a STEAL, at the time but values were going up. I didn’t know that, just wanted one cause my dad has one when I was little.

I had a real nice Chevy a friend wanted to buy from me, we agreed on $5000. I was stoked, it took him a few days to grab the money (weekend) and by that time the bronco sold. It broke me....to this day, I still want one.

I won’t pay $30-50k for one now. Fml! Right time, no money.
You now keep cash in my safe for “deals” that do pop up from time to time. I’m not rich so no way I’d have $15k in my safe but a lesson learned for me.

Good luck man, hope the bank/seller works with you!!!
 
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Curious what bank will give you a car loan on a 15 year old vehicle ? And if you do find one, the rates gotta be off the map ! Or are you getting a personal loan with the rate off the map & outa this world ?

I have an idea:
I have the $10,000 cash, let me buy it & and you can come use it on weekends if you wash it when your done ;) ;)

My credit union gave me 3.9% on my 2004 Rubi. Good credit and a good credit union goes a long way.
 
My credit union gave me 3.9% on my 2004 Rubi. Good credit and a good credit union goes a long way.
WOW : Curious what credit union ? ( job ? ) most around here wont finance autos older then 7 model years. That rate is the same as new cars at a regular bank with good credit.
 
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WOW : Curious what credit union ? ( job ? ) most around here wont finance autos older then 7 model years. That rate is the same as new cars at a regular bank with good credit.

Local, Oregon State Credit Union. This was about 18 months ago.

I work LE, have for 19 years and I do ok money wise. This was a third vehicle, our toy. It will be paid off this year but it was too good to pass up so...got a small loan.
 
Well the bank here isn't doing any loans of any kind right now due to this COVID-19 layoffs. So until the end of the month I'll not have a rubicon.
Any knowledge on the title? Clean?

My only thought on the price, if the title is good, is maybe he is selling it to get some cash bc of Covid-19...?
 
WOW : Curious what credit union ? ( job ? ) most around here wont finance autos older then 7 model years. That rate is the same as new cars at a regular bank with good credit.

I bought an 02 sport in February with a small loan as well through DCU. They were willing to do 120% of vehicle value which was like 11,500 at 2.49%.
 
WOW : Curious what credit union ? ( job ? ) most around here wont finance autos older then 7 model years. That rate is the same as new cars at a regular bank with good credit.

Though I ultimately didn't go through one when I got my '05 LJ, a credit union in my area (Hughes FCU) also provided me with a similar rate late last year. However, as you mention, most financial institutions have a cutoff for vehicles within 10 years.
 
Though I ultimately didn't go through one when I got my '05 LJ, a credit union in my area (Hughes FCU) also provided me with a similar rate late last year. However, as you mention, most financial institutions have a cutoff for vehicles within 10 years.
My bank will do a loan on almost any vehicle as long as it doesnt have a rebuilt or salvage title.
 
I meant the banks who wont loan credit on a vehicle over 10 years old. Never seen it.

I came across it three times back when I was shopping around. Chase goes back 10 years and a couple of local credit unions I looked at only did 8 years.
 
I meant the banks who wont loan credit on a vehicle over 10 years old. Never seen it.
Most banks ( some credit unions a bit longer ) on used dont go back farther then 7-10 ys & 10 is really pushing it. Unless its a specialty vehicle, or collector car like an old Camaro. The thought is if the vehicle is already 10 yrs old & 150,000 mi & you take a 5 yr loan & drive the ave of 12,000 a yr. By the time you pay it off it's 15 yrs old with over 200,000 miles, making their WHOLESALE collateral worth nothing. Many banks also won't finance vehicles with over 100,000 mi but i have seen a few go to 150,000 mi. If they have to repo the vehicle because of default they are not in an equity position, ( or the vehicle breaks / falls apart long before it's pad off ) How would you like to continue to pay payments on a vehicle that is not drivable because it needs a motor & you don't have the cash to fix it ? That's why so many banks also want a specific % of the cash value down upfront. On an older vehicle Most banks will tell you to take a PERSONAL loan at an insane rate.

BOTTOM LINE ADVICE:
If you don't have the cash to buy a $10,000 "TOY" you shouldn't be buying it / taking a loan !
Spending money you don't have on a 15 yr old "TOY" is not sound financial advice ! ( Thanks Dad ) !!

Some "FACTUAL" bank & credit union age & miles rules below:

Teachers Federal Credit Union TFCU - 7yrs

Bethpage Federal Credit Union BPFCU 9yrs

Chase auto Finance 10 Yrs

Cars Direct 10 yrs 100,000 mi max

TD Bank 5 yrs
https://www.td.com/ca/en/personal-banking/products/borrowing/car-loans/

Bank of America 10 yrs old 125,000 mi max
https://promo.bankofamerica.com/aut...RAND&msclkid=67b2e89fc15a1f93ce46b619e413c4a4

Roadloans 9yrs 110,000 mi mx
https://roadloans.com/blog/what-kind-of-vehicle-can-i-finance-with-roadloans
 
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I paid $16k (dealer) for mine a little over 2 years ago.

That's a good price! If the underside is clean, that is. :D
 
Most banks ( some credit unions a bit longer ) on used dont go back farther then 7-10 ys & 10 is really pushing it. Unless its a specialty vehicle, or collector car like an old Camaro. The thought is if the vehicle is already 10 yrs old & 150,000 mi & you take a 5 yr loan & drive the ave of 12,000 a yr. By the time you pay it off it's 15 yrs old with over 200,000 miles, making their WHOLESALE collateral worth nothing. Many banks also won't finance vehicles with over 100,000 mi but i have seen a few go to 150,000 mi. If they have to repo the vehicle because of default they are not in an equity position, ( or the vehicle breaks / falls apart long before it's pad off ) How would you like to continue to pay payments on a vehicle that is not drivable because it needs a motor & you don't have the cash to fix it ? That's why so many banks also want a specific % of the cash value down upfront. On an older vehicle Most banks will tell you to take a PERSONAL loan at an insane rate.

BOTTOM LINE ADVICE:
If you don't have the cash to buy a $10,000 "TOY" you shouldn't be buying it / taking a loan !
Spending money you don't have on a 15 yr old "TOY" is not sound financial advice ! ( Thanks Dad ) !!

Some "FACTUAL" bank & credit union age & miles rules below:

Teachers Federal Credit Union TFCU - 7yrs

Bethpage Federal Credit Union BPFCU 9yrs

Chase auto Finance 10 Yrs

Cars Direct 10 yrs 100,000 mi max

TD Bank 5 yrs
https://www.td.com/ca/en/personal-banking/products/borrowing/car-loans/

Bank of America 10 yrs old 125,000 mi max
https://promo.bankofamerica.com/aut...RAND&msclkid=67b2e89fc15a1f93ce46b619e413c4a4

Roadloans 9yrs 110,000 mi mx
https://roadloans.com/blog/what-kind-of-vehicle-can-i-finance-with-roadloans
Exactly what I was looking for, thank you.
 
Most banks ( some credit unions a bit longer ) on used dont go back farther then 7-10 ys & 10 is really pushing it. Unless its a specialty vehicle, or collector car like an old Camaro. The thought is if the vehicle is already 10 yrs old & 150,000 mi & you take a 5 yr loan & drive the ave of 12,000 a yr. By the time you pay it off it's 15 yrs old with over 200,000 miles, making their WHOLESALE collateral worth nothing. Many banks also won't finance vehicles with over 100,000 mi but i have seen a few go to 150,000 mi. If they have to repo the vehicle because of default they are not in an equity position, ( or the vehicle breaks / falls apart long before it's pad off ) How would you like to continue to pay payments on a vehicle that is not drivable because it needs a motor & you don't have the cash to fix it ? That's why so many banks also want a specific % of the cash value down upfront. On an older vehicle Most banks will tell you to take a PERSONAL loan at an insane rate.

BOTTOM LINE ADVICE:
If you don't have the cash to buy a $10,000 "TOY" you shouldn't be buying it / taking a loan !
Spending money you don't have on a 15 yr old "TOY" is not sound financial advice ! ( Thanks Dad ) !!

Some "FACTUAL" bank & credit union age & miles rules below:

Teachers Federal Credit Union TFCU - 7yrs

Bethpage Federal Credit Union BPFCU 9yrs

Chase auto Finance 10 Yrs

Cars Direct 10 yrs 100,000 mi max

TD Bank 5 yrs
https://www.td.com/ca/en/personal-banking/products/borrowing/car-loans/

Bank of America 10 yrs old 125,000 mi max
https://promo.bankofamerica.com/aut...RAND&msclkid=67b2e89fc15a1f93ce46b619e413c4a4

Roadloans 9yrs 110,000 mi mx
https://roadloans.com/blog/what-kind-of-vehicle-can-i-finance-with-roadloans

And tying up liquid cash on a toy is dumb when you can borrow for a cheap rate and keep your cash working for you or invest in much higher yield returns.
As a rule, you would be mostly correct but if I can borrow at 3.9% and my investments are paying well at 7% percent on average ( I won’t count this last year of 26% as it was a fluke year), I’d say leveraging my money where it pays me more, is a smarter move.

it’s also a reason I’m going to be fully retired at 50 years old with not only zero debt, but a very nice income to live on.

Don’t always assume we are all 20 years old making minimum wage. 😊
 
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