Looking to finance an NC.

Trying to move to San Antonio. Need a work car there. Want an NC Miata. Don’t want to drive my prepped NA Miata from Oregon to TexAss. 

Selling na miata for down payment on NC. Will get a loan for the rest. Facebook is trash. Craigslist is in the retirement home. Where do I look for a decent NC?

Second question: Would you rather bank loan for a used car, or finance through a used car sales lot? I know my way around haggling. I scare most salesmen. 

THird question: get the NC now and drive it down? Or finance in TexAss?

LOOKING to finance. Jeebus, I hate this phone. 

Also: 8k is the max I’ll spend on a NC. 

Credit Union for the loan.  No idea where to find one if the two main sources suck for you.  Maybe a local car club.  

In reply to spitfirebill :

It isn’t that they suck, it’s just I have kind of looked at everything that’s on there. All I find splits into two categories. Either it’s cheap and has a branded title, or it is out of my budget, or it is an automatic transmission.

1. Cargurus, Cars, Autotrader, etc might still be your best bet.

2. If sub $8k, gonna guess typical used dealer. I'd suggest bank, but with the loan being so low, APR might still be higher than if you were spending more.

3. TayHass doesn't have a tax for something and I see people here in KansAss driving TX-plated cars all the time.

I found my NC via Autotrader, beat up the dealer for the best price, got it delivered to my house for reasonable (TN to MD) and Carfax and condition were all as described. They financed it via Wellsfargo, so overall a good transaction. I got my Sport three years ago for $8K with 62,000 miles on it, cheap enough for me to modify to my tastes and have a fun daily driver. 

If you get an NC, swap out the springs/shocks and sway bars and you will love it! I did mine on the cheap with used Mazdaspeed lowering springs, Bilstein aftermarket shocks and RX8 sway bars, but if you have more $$$ any of the Miata shops can hook you up. Brakes were upgraded to Stoptech on all four corners. I also swapped the wheels for 235/45/17 tires on all corners (fit without a fender roll with the right offset),  Roadstersport exhaust and it is really a great car to drive anywhere. Have just over 93,000 miles on it without any issues except for maintenance. 

also the automatic isn't the penalty it was on the NA/NB since it has 6-speeds and many people who bought the NC were looking for more of a cruiser, hence the higher number of automatics.

Its worth at least driving one before you write it off.

Cars.com or autotrader.com might be worth looking at, but if you're not finding many, then perhaps looking in Texas might be a slightly better option.

In reply to _ :

The number of salvage title cars here is downright scary.  

Some recent GRM chatter on financing 

I usually let the dealer/lot finance me with the understanding that I'll my preferred bank for the loan if they don't match the rates. 

And they have always done it. 

In reply to z31maniac :

I never thought about playing the dealer against the bank, good idea.

In reply to Stefan :

Yeah, an auto will be in the test drive. I’m just trying to play the numbers game right now and the manuals all tend to command a premium. 

Here’s the kind of crap I’m dealing with...

For $4,500... how much meth have you done? 

Lightstream has worked great for me on several loans.

My buddy just got a loan for a 2006 4runner through them I think he said the interest rate was 3.99 or so.

I’m going to be honest, I would look at that car. LAs NC market is even worse. I can find 1-2 cars that are in budget and worthwhile within 8 hours of me. 

_ said:

In reply to z31maniac :

I never thought about playing the dealer against the bank, good idea.

Yep. I usually come to an agreed price for the trade-in and the car, wait til I talk to the finance guy, and then pull the, "Really? I know you have my income and credit score in front of you, match this rate (from my bank/Credit Union) and we have a deal."

They have always matched.

_ said:

Here’s the kind of crap I’m dealing with...

For $4,500... how much meth have you done? 

Ok seeing this, it will be much harder to get a great rate on a car that's this old.

You may have to settle.for a slightly worse rate to get financing on a 13-year old  car.

It makes me feel so ancient to think of 2006 as “old”

What is wrong with this these?

https://portland.craigslist.org/mlt/ctd/d/portland-2006-mazda-mx-5-2dr-conv-gt/6947493466.html

https://seattle.craigslist.org/kit/cto/d/bremerton-2006-mazda-miata-mx-5-trade/6955143327.html

z31maniac said

Ok seeing this, it will be much harder to get a great rate on a car that's this old.

 

You may have to settle.for a slightly worse rate to get financing on a 13-year old  car.

Not true with PenFed

Details of GRM experiences with PenFed

John Welsh said:

z31maniac said

Ok seeing this, it will be much harder to get a great rate on a car that's this old.

 

You may have to settle.for a slightly worse rate to get financing on a 13-year old  car.

Not true with PenFed

Details of GRM experiences with PenFed

That's why I said "you may have to" and not "you will."

PenFed is good for that sort of thing, you're also likely to be better financing the whole thing with nothing down then just making a large payment after. Doesn't make much sense but I went through getting quotes on financing a <$12k car recently and the rate was usually better for a higher principal than lower with a down payment.

I've got one that I'm going to post for sale today or tomorrow here, I'm on the wrong coast though. Good luck.

My dad has a good move for this: Goes to get pre-approved at his credit union. Then he goes to the dealer. He won't tell them he's preapproved, just lets them do their financing schpeel. 

After all is said and done, he'll get a rate. Call it 4%. Then he'll tell them "my credit union is at 3%. You can either match that, or take another (literally pulls out an old HP scientific calculator) of..... " whatever the overall difference is in the cost of the loan. Sometimes that is $50. Sometimes it is $1000.

Oh, EDIT: The important part. After he finances with the dealer, with his discount, he turns around and refinances the next day with the credit union.

Driven5 said:

What is wrong with this these?

https://portland.craigslist.org/mlt/ctd/d/portland-2006-mazda-mx-5-2dr-conv-gt/6947493466.html

https://seattle.craigslist.org/kit/cto/d/bremerton-2006-mazda-miata-mx-5-trade/6955143327.html

The first one is overpriced for the year and mileage. 

The second one is a little far for me to drive, but I would check out if it came down to it. 

Looked at penfed. Their website says only vehicles 5yrs or newer. 

Fawk this. I’ll just save up.