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Q for portland people--> car loans


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Credit unions are just great. I just went through this yesterday. Took the paperwork from the car lot to the credit union in Seattle. Showed it to the guy and said I wanted a loan; how much would they authorize? 80% of book value he said. He looked up the book value of my proposed sale and it was high enough I could finance everything including sales tax and other incidental costs. I had options on how much and how long and settled on the full amount for 36 months at 4.4% with no pre-payment penalty. Twenty minutes later I was out of there with a check. Sure beats dealing with a bank!:)

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Credit unions are just great. I just went through this yesterday. Took the paperwork from the car lot to the credit union in Seattle. Showed it to the guy and said I wanted a loan; how much would they authorize? 80% of book value he said. He looked up the book value of my proposed sale and it was high enough I could finance everything including sales tax and other incidental costs. I had options on how much and how long and settled on the full amount for 36 months at 4.4% with no pre-payment penalty. Twenty minutes later I was out of there with a check. Sure beats dealing with a bank!:)

 

Basically that's how it was when I got the loan for my Legacy. The only stumbling block was that my legacy is a bit rare and not listed directly in the Kelley blue book or the NADA book, so I had to provide them a VIN number to do the search.

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Besides the paperwork from the car lot I brought the autotrader ad (with VIN#) and also a carfax report. They didn't need any of that, but I had it with me just in case.

Basically that's how it was when I got the loan for my Legacy. The only stumbling block was that my legacy is a bit rare and not listed directly in the Kelley blue book or the NADA book, so I had to provide them a VIN number to do the search.
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