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Thread: Have question regarding Evo 8 purchase.

  1. #1

    Have question regarding Evo 8 purchase.

    Hi dont't know if this is the correct place to post this question but here it goes.

    I am looking at buying a Evo 8 now i don't have 14k or huge amount of cash just laying around (I have 2k : ( ) so i want to finance. Now the biggest problem i been getting is dealerships only want to do cash deals and not do any financing they told me "Banks will not approve a loan for a car that's more than 10 years old" makes alot of sense to me i guess . I have good credit and i have a good job and i know can save some money to buy an Evo cash but that would take awhile plus personal loans from banks are like 10%-15% that's alot.

    That being said i heard of guys selling off there Evos for what they owe the banks I guess a person just takes over the payments? Is this possible? How would this work?

    Is there any cons to this? If you guys can share your experiences or knowledge in this filed that would be great. Thanks.

    BY the way i been wanting an Evo 8 sense 2010 when i first rode in one. School and helping my parents on there mortgage got in the way. I feel I deserve an Evo now.

  2. #2
    I just financed a IX few months ago. Really, it comes down to credit. Doesn't sound like you have had a car loan before so you may still get a high APR. If you are in SD county, my friends own a dealership and can help you get an 8 and financing. That's where I got my IX (including financing).

    Taking over payments is just like you applying for an auto loan with that lender. You don't just assume their remaining payments. Their loan closes and you have a new loan with that lender.

  3. #3
    I NEED 21 INCHES Midnightevo04's Avatar
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    check out credit unions i know that some do offer financing on vehicles over a 1993 just keep looking good luck!

  4. #4
    Thanks Danadaray and Midnightevo4.

    Danadaray you got a pm.

  5. #5
    Danadaray let me know if you got my PM the messager was acting a little weird. Thanks again.

  6. #6
    Yes sir! Will respond right now.

  7. #7
    Evolved zeRep85RA's Avatar
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    Quote Originally Posted by Midnightevo04 View Post
    check out credit unions i know that some do offer financing on vehicles over a 1993 just keep looking good luck!
    I just got financed through Altura Credit Union. They are one of the few that do Used Private Party Auto Loans. It was a bit of a hassle though; both parties have to be present at the bank, proof of insurance before getting the car...but I got my IX :)

    zeRep
    Last edited by zeRep85RA; 11-24-2014 at 03:49 PM. Reason: double ZEREPing
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  8. #8
    Thanks Danadray just pm'ed you.

    Zepep85RA thanks for the info. I am happy to see you got your Evo.

    I was defintily looking at doing a private party sale through a credit union but just like you said its a hassle. I will probaly consider this route as a last resort if i cant find a good deal on a Evo or the Evo i want through a dealership.

    Thanks again for posting.

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