So i have been having difficulties getting financing for a 2006 9, the banks keep going off the NADA value and not the Kelly Blue Book, anybody know of any financers that go off the Kelly blue book not nada.

I know its a lot but i have to ask, even had one tell me that i need 10k deposit.

I could jump in a 10 but I'm not a big fan they look too bulky and i think the last best evo is the IX

 

You're pretty much going to need a down payment to buy an 8 or 9. Almost all financial institutions use NADA guides. And even KBB is a lot lower than what of these cars are selling for..

 

Or pay cash?

Have you driven a X? A lot of ppl knock the X when they never even own/driven one.

 

I just called my bank and my credit card company when I needed a loan. 0 down from both, but cc company had a better rate. That was three years ago, but still. They loaned the full amount. Surprised you're having difficulty with Nada. It's been a long time since I looked at one, but when I was in high school Nada more accurately represented a car's demand. KBB was always low. Good luck!

 

Or try to get pre-approved for a used car loan for ___ dollars, then choose the car. I was able to do this through my Credit Union.

 

If this comment doesn't get you an Evo, nothing will.

 

I got pre approved for a 32k loan with my credit union, then when they heard the car was 2006 evolution MR they said the most they can do is 22k

 

The car I'm looking at nada has it at 19k and Kbb has it at 22k.....

 

Its not the driving, i prefer the styling of the 8 and 9 over the 10, i think its almost ugly, until you add some styling...

 

Attach collateral to the loan. It lower the risk for the bank. Borrow against you have equity in. Not the smartest thing to do but its doable. Best advise so far is to have cash to cover the rest.

 

Never said what you were looking at was wrong, just said I was surprised based on my prior experience, which was over a decade ago. Again, good luck.

 

Banks use NADA for approving loans while insurance companies use KBB for values. NADA is always higher and that sucks cause you instantly are losing once you buy a car. When you buy a car at NADA value of $30k and wreck it the same day, KBB will value the car at $25-$26k which makes you go out a buy a bottle of Jameson and forget the whole thing ever happened.

 

You can get plenty of IX's for less than 22k... I would for sure get pre approved for a loan then find a car that fits, then throw some cash on top of the loan and you'll have more to spend. Evo Viii's and IX's are getting old so lenders are apprehensive to hand over 30k for a 10+ year old car as its a "high risk" kind of loan due to the vehicles age. After a certain point most institutions won't even give you a loan of the vehicle is old enough.

 

Yea thats my problem, i don't want next year or after that to come and i cant even get a loan, second problem i have is, my credit union will only give loans for where i live florida, not many IXs being sold in florida, have seen one or two but they are in horrible shape or high HP. Wont give up they i will keep shopping.

 

Other way around bud. Nada is always lower. That's why banks use it.