I know it doesn't have to do with a 4.6 but I figured someone around must have done this before so I was wondering how would Igo about purchasing an out of state car from a private party? I can't buy the car outright so Iwould have to geta loan. How do I approach the bank about this? Would I have to get the loan from a bank in the same state as the car or say go to my local bank about it? Not too knowledgable in this area so any help would be much appreciated.

 

It doesn't matter where the car is located. Tell the bank what car you are looking at, they will look at book values & most likely cap the loan amount at the book value. They don't care where you are purchasing the car. The best rates you can get will likely be from a local CU.

 

yeah it shouldnt matter what state the car is in, just make sure you ask that question when you go in to talk about the loan.

 

I did my loan through a local CU and got 6%.

 

+1 on the Union.....

Lightning = 4.5%
Stang = 4.9%

Love it

 

Yeah the one I have for my car now is through a local CU at 5.8% but I just wanted to make sure about everything. I initially thought I could just get it from a local bank and tell them what car it was and that it was out of state and they would hand me the blue book value loan but wanted to double check it.

 

you still have to get approved. the bank may or may not require an appraisal on the automobile to determine its true value compared to the blue book and asking price. A local credit union wont care where the car is located, because the loan for the vehicle will be for you and the state you live in. Assuming this the CU assumes the car would be relocated to the same state. Most important part is the interest rate. You could always do a personal loan, but those are trickier and APR's start to rise significantly.

 

Just to add to the APR contest, my old car was financed thru my CU for 72 mos @ 3.95%.

Good, but my Stang beat that. I was going to do the same, but I got my dad to loan me the money on a 7-year payment plan rolled in with the wife's remaining school loan balances. 0% APR, baby! 7-years of $214/mo for a $18K loan! [sm=happy046.gif][sm=alcoholic.gif]

BEAT THAT!!!!!

 

I think I win, 12% for 5 years right here. Meh, I'm 18.

 

It doesnt matter where the car is located...all you need to tell them is what car you are looking at,mileage and etc....Try to go to ur cu and see what they give you....