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Where can I find financing for a 12-year old car?
"How can I get financing for an older vehicle? I found a 2009 Mercedes Sprinter van at a local dealership for $12k. My bank will not lend money for vehicles older than 10-years old. The dealer does offer in-house financing but the rate was ridiculous regardless of my good credit."
Johnny Puckett · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Most lenders are not going to offer financing on something that old. The risk is just too high.
If you can’t do that, then you could possibly try to get a personal loan, but know that the interest rate is going to be high.
If you want to get away from high interest rates all together and can’t buy outright, you should buy a newer vehicle and save for a sizeable
down payment
.View full answer
- Gregory R.
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