Wednesday, May 26, 2010

Need to finance car with 110000 miles??possible?

I%26#039;m looking to finance an awesome 2003 BMW with 111k miles anyone know of a bank that will finance a car w/thatmuch? most i%26#039;ve seen go to 100k only



Need to finance car with 110000 miles??possible?

A few lenders will financed vehicles over 100,000 miles. (Out of roughly 30 lenders that my dealership uses, only 4 or 5 will finance over 100,000 miles.)



I sold a vehicle Saturday with 101,000 and it was financed. The highest miles I have ever seen sold on a finance contract was 199,000.



There are not many lenders in the auto business these days who finance that many miles, but there are a few (such as Gateway One and Bayview). I recommend asking your local dealer.



Most of the lenders who work with the higher miles will not lend directly to you, you will probably have to go through a dealership.



Also, not all lenders are licensed in all states, so which lender will vary by what state you live in.



You might also ask your local bank or credit union. A lot of local banks will not worry about the mileage, as long as you are only financing %26quot;loan value%26quot; (usually 70-80% of the car%26#039;s retail value) or less.



Need to finance car with 110000 miles??possible?

Pay cash for it.



Need to finance car with 110000 miles??possible?

if your credit is good capitol one will finance any car 1997 or newer with any miles so go online and apply (finance manager at a dealership 11 years)

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