i just bought my 03 with 106k for 10.6k from private party. 0% down 4.5% at a credit union, i do have another vehile loan from them for my ridgeline(@ 2.9%) so that may have played a role in no dp...not the best of credit (mid 600s)

i requested 13k from my credit union and i gave them general info about an s2k(just wanted a preapproval to start really looking). they called me back 20min later and said yes to 13k but has to be 2003 or newer and i had open hands beyond that.

 

Interesting, when I was looking a few years ago I was basically capped at 10 year range. Nothing older. I will continue to look around. I know of a couple 04 and 05's under 20k but I figured at least with the 04 I wouldn't be able to get financing on it.

 

Timing and the car are everything. I have used USAA for both new (convienent with check) and one used car. Other times CUs have been the best. Then again, a dealer or brand may have a special offering; essentially "free" money. I currently have 6 vehicles. Most CUs balk at ordinary used cars >10years old, that is the rates go up substantially. Cash is best for that.

 

the c.u. i use for car loans caps at 80k miles and 8 years ... they researched the car and made an overide decision for this particular car since its a "specialty or collector car". hence the 1.6% increase to help with the added risk of a older high mileage vehicle. they also factored in the high value of these cars and the fact that over the past few years the value has flatlined or even increased, also diminishing there risk if i were default

 

I got a 4.74% rate for 5 years with BOA

 

Pentagon Federal Credit Union. Got 1.74% with 0 down on an '02 S2k in April 2013.

 

There's only one s2ki. You're buying this site?

Can vary by lender. You'd have to shop around.

USAA isn't screwing you -- your credit is.

My most recent auto loan with USAA was 2.25%.

 

I've financed a bike and two cars (including the S) with these guys. They're the SHIT!

 

Save the money and buy it with your own money. Even I can do that (24y old). Don't buy what you can't afford. But hey, that's just an European opinion.

 

If he can get a ~2% interest rate, why? Your chances of making more than that by investing (or avoiding other forms of debt) are rather good.