S2000 Talk Discussions related to the S2000, its ownership and enthusiasm for it.

Can I get a loan on a 02?

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Old Aug 4, 2009 | 09:45 PM
  #1  
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Default Can I get a loan on a 02?

Hey guys I've been looking long and hard for the perfect S2000. I think I found one, a near mint 2002 GPW red interior with only 16000 miles going for $16000. Has any one gotten financing on a older
S2k? Most places I've seen only finance 5 year old or newer cars.
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Old Aug 4, 2009 | 10:20 PM
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Good god, $16k for a 7 year old car...yikes!!!
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Old Aug 4, 2009 | 10:31 PM
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yeah but it's a rare model. you really get what you pay for. Three years ago when I made my purchase, I could've purchased a random color 2002 with low mileage for $14k. I chose to go a different route, and paid for a more unique 2002 gpw w/red interior with low miles and brand new oem top for $18k.
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Old Aug 4, 2009 | 10:33 PM
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To answer your question, yes. Many credit unions will gladly provide you with a loan depending on your credit score; however, on an older car the interest rates are usually higher. I think when i purchased mine it was like 5/6 years old.
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Old Aug 4, 2009 | 10:39 PM
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Trust me this car is in awesome shape. The seats look barely worn in and the mileage is just what I'm looking for. I just need to find a bank to finance me.
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Old Aug 4, 2009 | 10:54 PM
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I financed my 01 last Feb. Interest rate was higher, but my credit was decent and they would finance for over the purchase price.
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Old Aug 4, 2009 | 11:23 PM
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I got a loan on an 02 with 104k miles(i know, alot)

i think its like 5% interest or something at Meriwest(good credit)
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Old Aug 5, 2009 | 12:43 AM
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I bought a MY00 with 23k miles on it, and yes it can be done.
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Old Aug 5, 2009 | 02:57 AM
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I would not pay 16k for an 02.
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Old Aug 5, 2009 | 03:17 AM
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i would, 16k miles and the rare GPW with all red interior plus 9k redline?

I was looking at the same car but i dont have 16k to cough up
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