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Old 11-16-2010, 08:33 PM
 
4,925 posts, read 7,906,135 times
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I've done it a couple of times through my credit union and have had zero problem. Better rates than quoted by a dealer for a like car both times.

If I remember, all I provided my credit union was the make, model, VIN, and mileage. I'm sure they checked to see that the loan to value was there, but otherwise, I don't know why it would matter to them as to where you got a used car...from a dealer or individual.
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Old 11-17-2010, 08:06 AM
 
Location: Pikesville, MD
5,231 posts, read 8,872,148 times
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Quote:
Originally Posted by PHX2DCA View Post
I'm not sure where the folks in this thread obtained their information.
From buying cars, duh. Capital One still does it for private parties, as well. What they switched on was no longer dealing with cars older than 7 years or 70k miles. But credit unions have no problems with it, and the rates are quite competetive.
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Old 11-19-2015, 12:43 PM
 
1,595 posts, read 470,515 times
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Rates do tend to be slightly higher on used but in this era of low interest rates it's really not a big deal. My credit union offers 1.49% new and 1.99% used.

The older the car is the trickier it may get to be approved and a higher down payment may be required. But really as long as the value of the car is at or more than the loan and you're not taking out a crazy long term you can get excellent rates used very easily. Assuming good credit of course.
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