Anybody know any good loan sharks?

[Tudor MercWench Smith]

Hey gang!

Just wanted to get some advice. I need to purchas a car and I found one I want, but I am going to need to get a loan to cover it. Problem is, the car is up for auction so I need the money like NOW. Has anybody used E-loan? are they any good. Any other suggestions?

[LongTom]

We used eLoan to refinance our house. Painless process, no glitches. It took a number of days to complete the process.

I don't know how their car financing works. Hopefully quicker.

[William Brand]

We need to start a company called Ploan. Every time a fellow pirate needs a loan we rob somebody and send it to them.

[PyratePhil]

We need to start a company called Ploan. Every time a fellow pirate needs a loan we rob somebody and send it to them.

Why not? That's how the IRS works...

[Misson]

Pirates don't need loans! MW, take a ship!

Although you might ask yourself why it is so urgent to get this particular car from said auction. Not to get too philosophical here, but in my experience any large (or even reasonably large) financial decision is best made when you are not under too much mental pressure.

Although this is probably not quite your situation, I was once looking at a classic car that I had to have, but couldn't figure out how to finance. I finally figured out how to do it (through borrowed money and loans and just a rat's nest of financial wizardry) when it occurred to me to wonder what would happen if I waited. (With a little prodding and advice from my parents.) So I did. Nothing happened. The classic car bug didn't go away, so I bought my Delorean a few years later to satiate the perceived need - when I was better financially situated to do so. (And have since come to realize that the words "Classic car" = 'Extra maintenance." And "Extra maintenance" = "More money.") The original car I wanted would have entailed even more expenses because of its condition.

There are lots of fish (cars) in the sea (lot).

[Tudor MercWench Smith]

well, a P-loan would be very handy cause E-loan hates me and decided to not give me the gold. Bastards.

The auction was up for 7 days, so it wasn't a "buy before you think" kind of thing, but I needed the approval ASAP so I could actually put a bid in on it.

But I still need a new car, so any suggestions are still needed. I have a friend who is going to take me to the car triplex near his place. Apparently they will finance anybody, but still, any input is apprechiated

[Rogue Mermaid]

Why not ask some of your friends and coworkers who live in your area who they have their car loans with. Before I bought my latest "new to me" car I went to the local credit union that my friends highly suggested. I got pre-approved for a car loan to see what I could affored get and what I would be paying and for how long.

I found a 2000 Beetle in a color I loved and I always wanted a beetle. So I got the vin # and checked out the car on autocheck.com, then did my research on the make and model. Everything checked out so I bought it. To make a long story short dispite all the clean auto checks and positive reports on VW's my car still has issues. Within a month of buying it the car was back in the shop. Used cars are frustrating.

[Misson]

Credit unions do seem to be more flexible. When I bought the Delorean, I got a loan at a reasonable rate from a credit union. No one else wanted to touch it because it was a "specialty car", unless they could charge a high rate of interest. The CU just gave it to me at the regular used car rate (after their board approved it - although I understand they did that with any used car.)

As for new vs. used...I'll never buy a new car again. I had just as many issues with my new car as I did with most of my used ones. Besides, the vehicle depreciates something like 25 or 30% in value the minute you sign the paperwork. If you really want a warranty, you can can easily buy one and it will be less than 25% of the purchase price of any late model used car. (Although, to be honest, my experience with those extended warranties is that they're more trouble than they're worth. I got one on my VehiCross and I had to call them three times to get payment for a a part that failed which was specifically covered in the warranty. I barely got the price of the warranty out of that part.) Plus, if it's a late model, you can transfer the manufacturer's warranty. Although the way I figure it, if I spend less than 25% of the price of the car on repairs in the first three years, I've done as well as if I'd bought it new. (And I never have spent more than that yet...)

[Rumba Rue]

Buy Toyota anything! They have the highest resale value, are practically maintence free. Best investment ever done.

[PyratePhil]

Cadillacs - best way to go!

Comfy, powerful, easy to get parts, good depreciation. I get 'em used, usually 8-10 years old - old enough to be cheap, new enough to be in decent shape. 'Course, I'm mechanically handy, so checking them out isn't too hard.

As Misson said, I'd never buy a new car again. Waste of moolah, you ask me.

[Rogue Mermaid]

I was real happy with my Nissian Sentra. It was a good car, and when I flipped it on it's side last February I walked away with nothing hurt but my pride.

Despite my previous post I do love my Bug. Just don't get one unless you are ready to deal with some odd issues. (gas doors that won't pop open, grumpy transmission that acts up and then is fine when it gets to the shop, windows randomly rolling up, sensors that beep loudly for no reason..you get the point)

[Rumba Rue]

Cadillacs - best way to go! 

Comfy, powerful, easy to get parts, good depreciation. I get 'em used, usually 8-10 years old - old enough to be cheap, new enough to be in decent shape. 'Course, I'm mechanically handy, so checking them out isn't too hard.

As Misson said, I'd never buy a new car again. Waste of moolah, you ask me.

Cadillacs--GAS HOGS!

Personally I will NEVER buy a used car again. Over the years I've sunk tons of money into trying to keep used cars I owned working.

Once buying a new one, I've become spoiled ---but dang I'm worth it!

[Tudor MercWench Smith]

I am planning on going for a "new-used" kinda deal-o. Y'know, couple of years old, but to rich snobbies that need a new car every model year is just tragically anchient. So new enough that I don't have to worry about the transmission dropping out or the engine rusting over or any such old car woe. Maybe even new enough to still have some factory warrenty on it. But not new, new. New new is bad. New new is stress. New new is 'don't breath on it, you'll make it go down in value.' new new is "I had to put a kidney and half my liver up on collatiral."

And Rogue, I loveloveloveLOVE my little Nissan Sentra. I know that car would die to protect me. But he's just getting waaay to old to be putting on the miles I've been doing. He'll be much happier with my mum, running around town and being safely parked in the drive by 7:30 every night. Lol!

As for Toyotas; I have bad juju with Toyatas. Not that I don't believe you Rumba, just personal bad experience, so I would always be waiting for the car to explode on me, even though I know it wouldn't. That and right now my "rival" drives a toyota - childish I know, but I have to be grown up every other way so I reserve the right to be petty about this!!

Disgustingly enough, the car I had wanted to purchase was a Ford Focus zx3. I hate fords, but I know the focus's are nice (my best friend has one) and pretty good on gas milage, they are cheap, you can find parts easy, and this one was my color, manual trans. and being sold locally. Alas, e-loan hates me.

Now I am eyeing up those early Pontiac Vibes. Just about everything I am looking for .. .. hmmmmm

Now I am l

[PyratePhil]

Cadillacs--GAS HOGS!

Personally I will NEVER buy a used car again. Over the years I've sunk tons of money into trying to keep used cars I owned working.

Once buying a new one, I've become spoiled ---but dang I'm worth it! 

Sorry - they're no worse than SUV's - in fact, with the Northstar engine they're even better than most. A lot depends on how you drive - I'm not a young punk with a lead foot, nor do I slam on the brakes, jackrabbit start at lights or go around corners on two wheels.

Not anymore, anyway.

Even my late-80's / early-90's Caddies with big honking 8-cylinder engines got 27-30 mpg on the highway. Sure - it isn't 40mpg like some of the newer econoboxes, but it isn't something to sneeze at either.

Where do the minicars get those impressive gas mileage numbers? One way is in replacing sturdy metal with crappy plastic. Another is using cheap alloys in the engine components, which leads to a hotter-running engine and premature wear and therefore frequent breakdowns.

Slam the door on a Caddy, then try it with a riceburner - if you don't hear the difference, I suggest a visit to an audiologist.

Compare the rides on a cross-country trip. Especially when a tandem trailer blows by you at 85mph. The cute little socially-conscious and environmentally-friendly go-karts get blown over two lanes. The Caddy just laughs.

Try merging onto a freeway with heavy traffic. In that situation, more power is likely to SAVE your hide.

Try hiding several bodies in a Toyota trunk - it ain't happenin'.

Caddies are BUILT. Econoboxes are glued together from a kit.

Add in the fact that there are tons of hidden problems with many new cars that aren't widely known about until the third or fourth model years, and that's why I like used.

Don't get me wrong - new is nice. Personally I won't throw money into one, only to see it bleed out the minute I leave the lot. Plus, I don't really miss the monthly payments and finance charges - cash on the barrel head is a great feeling. Look at Merc Wench's trials and tribulations in this thread - ask her how nice it would be to be able to just reach in her pocket and pay for the car.

[Rogue Mermaid]

Try hiding several bodies in a Toyota trunk - it ain't happenin'.

That is the most interesting reason I've ever heard not to buy a truck. I can just picture a used car salesman pitching that one!

[Misson]

Despite my previous post I do love my Bug.  Just don't get one unless you are ready to deal with some odd issues.  (gas doors that won't pop open, grumpy transmission that acts up and then is fine when it gets to the shop, windows randomly rolling up, sensors that beep loudly for no reason..you get the point)

"Grumpy" transmission? What a phrase!

My friend was a sort of a bug nut. In college (during the late 80s) he had a '57 Beetle. When he wrecked that, he sought out a '63 and drove that for awhile. He was pretty excited when the new Bug came out until he read Consumer Reports. (He loves Consumer Reports.) I guess they don't do very well. So he bought a Saturn.

Anyone own a Jeep? (A real Jeep, like a Wrangler, not a Cherokee or a Liberty.) I guess they scrape the bottom of the barrel in ol' CR, but people who buy them really seem to like them.

[Red-Handed Jill]

Phil - ya missed your calling. Should be a used car salesman ("Now this trunk will hold LOTS of bodies!")

I have a 1998 Saturn SL1 sedan. It's given me no trouble (well, I did have to replace the brakes at 75,000 miles) and gets 42 miles to the gallon. Also, it's not a little box - there's actually room in that car to move around in (and transport small cannons) and it doesn't get blown all over the road.

But every once in awhile I miss my Mustang (Holley four-barrel carburator, 0-60 in under six seconds... but it got 15 miles to the gallon. )

[Tudor MercWench Smith]

Anyone own a Jeep? (A real Jeep, like a Wrangler, not a Cherokee or a Liberty.) I guess they scrape the bottom of the barrel in ol' CR, but people who buy them really seem to like them.

I would love, repeat LOVE to own a jeep. A green wrangler, sahara edition. But alas, they are el-crapo on gas milage, which is one of my top 3 reasons for new car hunting. Plus, I might end up killing someone (namely myself) with the way I drive. Jeeps turn over crazy mad easy and I thinking breaking around corners is for sissys

[PyratePhil]

Plus, I might end up killing someone (namely myself) with the way I drive. Jeeps turn over crazy mad easy and I thinking breaking around corners is for sissys

See? SEE?

If you had a Caddy, you could kill yourself, then put yourself in the ...

...ummm...

...never mind.

BTW - the whole "Jeeps/SUV's flipping" thing is a big joke. If you drive it like a car then yes, it'll flip. The big secret is, you DON'T drive it like a car. It was never meant to be driven that way. But people want to go fast, even if it's just down the driveway to the mailbox, so of course they flip.

But of course, you warned me with the "sissy breaking" thing...

Misson - I had a CJ-7 back in the day. I called it the MachoMobile, because you had to be crazy to drive that thing 7 days a week, year round, like I did.

But man, did that thing GO. Anywhere.

Jill - Yeah - I coulda' worked for Tony "The Nose" Tragliamonte at his "Previously Enjoyed Cadillac" lot.

Rogue - where I grew up, it was more of a practical, everyday consideration.

The stickers on the used cars in the lots had "MPG", "MPH" and "NOBIT" -

"Number of Bodies in Trunk"

[Tudor MercWench Smith]

seriously, I am considering a career with NASCAR. You should see me on the turn pike.

[Misson]

That's pretty much what I heard about Jeeps...they're not the most comfortable vehicle, they get poor to reasonable mileage and the quality...well, it's not so great. So are the only real reasons to buy one for appearance and ruggedness? I wonder how many people actually take them off the tarmac? (They do look cool. Whenever I see a real jeep, I look to see who the person driving it is. I figure they're adventurous and potentially interesting. So I guess the appearance thing works, right?)

I saw a bumper sticker that said, "Silly boy, Jeeps are for chicks!" Only it was on a Jeep Grand Cherokee. And I thought, "Silly girl, that's just the soft chick version of a Jeep!" (A real chick would drive a real Jeep, right? Adventurous.)

[Red-Handed Jill]

My mum always told me 95% of my weight was in my right foot. And I drove one of the fastest production cars in the U.S. for seven years. So I know what you mean...

[PyratePhil]

So are the only real reasons to buy one for appearance and ruggedness? I wonder how many people actually take them off the tarmac? (They do look cool. Whenever I see a real jeep, I look to see who the person driving it is. I figure they're adventurous and potentially interesting. So I guess the appearance thing works, right?)

For me, it was a matter of pure utility. I lived up the side of a mountain with a one-mile dirt driveway leading to the house, which also crossed over a small stream that would flood. In the winter, if you didn't have a SnowCat, you'd be doomed. So it wasn't for appearance - it was utility.

(A real chick would drive a real Jeep, right? Adventurous.)

Naw - a real chick would drive (like a college GF did) a '63 split-window Vette, that she did all her own work on - including balancing and blueprinting the engine and re-doing the tranny - then go inside and practice her violin.

Great Neptune I miss that girl

Merc - you have to get a NASCAR-approved ride, then! Get a Monte Carlo or some such...

Jill - you've intrigued me - what did you drive?

[Rogue Mermaid]

One of my friends had a jeep in high school. His buddy lived at a house with a very long driveway with other houses off of it. A neighbor's dog would always run right at the jeep along the grass. My friend would then produce a broom handle (why you would keep one in your vehicle is beyond me) and "dog joust".

They would never actually hit the dog or hurt him, but they would get a real laugh out of it.

[Red-Handed Jill]

Jill - you've intrigued me - what did you drive?

It was a special edition Mustang GT - the 83-1/2 year model. It was snuck in for true enthusiasts before the 20th anniversary model and I managed to get one of them. I never did get it up to its top speed, but can tell you that it did go 0-60 in under six seconds. It was the fastest non-exotic car for that year.

Also, I grew up driving modified, VERY fast cars.