Can you get a high-mileage auto loan?

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Top best answers to the question «Can you get a high-mileage auto loan»

Yes. Some banks will finance vehicles with high mileage because they understand that vehicles last longer than they used to.

FAQ

Those who are looking for an answer to the question «Can you get a high-mileage auto loan?» often ask the following questions:

🚗 Is a motorcycle loan an auto loan?

Motorcycle loans are different from car loans, with different interest rates and repayment terms. When buying a new or used motorcycle, there are three different financing options: Manufacturer financing: Manufacturer financing is available from some motorcycle companies, such as Harley-Davidson or BMW.

🚗 Is a motorcycle loan considered an auto loan?

Motorcycle loans are different from car loans, with different interest rates and repayment terms. When buying a new or used motorcycle, there are three different financing options: ... Depending on the lender, they can be secured or unsecured, but unsecured loans tend to have higher interest rates than secured ones.

🚗 What is a commercial auto loan?

Commercial auto loans are used by businesses to buy vehicles needed for work-related operations, such as visiting clients, completing jobs and transporting equipment, among others. This type of loan is offered by banks, credit unions, finance companies and alternative lenders.

9 other answers

RoadLoans finances vehicles with up to 110,000 miles You may be able to get a high-quality used car at a great price A well-traveled car is a different proposition these days. Whereas once 100,000 miles was a long-haul benchmark, improvements in technology and reliability mean more cars are now built to go well beyond 200K.

It is possible to get approved for a high mileage auto finance loan. But you must make sure that the vehicle that you are out to buy doesn’t turn out to be a clunker or requires any major repairs. Highly Recommended By Customers We are rated 4.3 for customer satisfaction by 1786 customers.

Since a high mileage vehicle presents a higher risk of default, you will find the terms offered a bit more constricting. The LTV will have to be less than 100 percent or you will be required to pay for gap insurance. The length of the loan offered will be short. You may have to repay in as little as 24 months, meaning higher monthly payments.

While it is still possible to get an auto loan for a high mileage vehicle, the interest rates are usually higher than average and the terms are normally capped at four to five years, instead of seven to eight years on newer cars.

Extended Mileage Loans good things come in older packages. If you’re shopping for a used car and you have your eye on a vehicle that’s either too old or has too many miles to be eligible for our regular used car loan, then an Extended Mileage Loan may be able to get you to your goal. Apply for a loan.

An auto title loan works by borrowing against the equity in your car, pickup truck, or SUV. The requirements are that you have an income, and milage of 200,000 or less. In California most loans are between $2,000 and $10,000 in value. There are many online title loan lenders in California that can approve you and fund your loan entirely online.

Getting A High Mileage Title Loan. First, you need to call up an auto title loan lender. Then, you will need to provide things such as the make and model of your vehicle, the quality of your vehicle, the vehicle identification number and other important facts on your car, pickup truck, SUV, motorcycle or crossover.

Yes. Some banks will finance vehicles with high mileage because they understand that vehicles last longer than they used to. A private party auto loan, where you’re buying a car directly from the owner, may typically only be

High Mileage Lease: Everything You Need to Know When leasing a vehicle, you have a mileage limit that you can't exceed. If you do go over this limit, you have to pay extra fees. Instead of paying...

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We've handpicked 24 related questions for you, similar to «Can you get a high-mileage auto loan?» so you can surely find the answer!

What are the qualifications for an auto loan?
  • Make Sure You Have Good Credit.
  • Have a Source of Income.
  • Be Able to Prove Your Identity and Residence.
  • Consider Getting Preapproved.
  • Have a Down Payment or Trade-In.
  • Understand How Financing at a Dealer Works.
  • Qualifying for a Car Loan With Bad Credit.
  • Work on Your Credit Before Applying.
What credit score needed for auto loan approval?
  • Typically, a credit score of 700 or higher will put you in a good position to find favorable auto loan terms. If your credit score is lower, you'll probably be offered a higher interest rate.
Will refinancing my auto loan hurt my credit?
  • Refinancing your auto loan would likely have a negative impact on your credit score, but only for a limited time. Once you start paying on that new loan regularly, your credit score should rebound fairly quickly.
Would auto loan be used for motorcycle purchase?

If you shop around for motorcycle financing, you may notice that lenders usually classify motorcycle loans and auto loans differently. Some lenders may charge higher interest rates for motorcycle loans than they might for an auto loan… Certain lenders won't offer financing for a dirt bike, scooter or ATV.

Are high mileage motorcycles bad?

A motorcycle engine with 40,000 to 50,000 miles is considered a high-mileage bike in some circles. But if this particular motorcycle has complete maintenance records, has no evidence of physical damage, and the engine has no oil leaks, then this is considered a good buy.

Are high mileage motorcycles reliable?
  • A motorcycle with high mileage and several rebuilds on major components can be as reliable or moreso than a comparable unit with a lower odometer reading. A textbook example of this is the restored motorcycle. Often found in dilapidated condition, a bike that's been restored often has parts that have been rejuvenated, replaced, and recoated.
What's considered high mileage motorcycle?
  • A motorcycle engine with 40,000 to 50,000 miles is considered a high-mileage bike in some circles.
Can i get an auto loan for a motorcycle?

Financing a motorcycle may be a little trickier than getting a car loan. Most banks and credit unions offer dedicated auto loans for new and used cars, but that may not be true of all banks and credit unions when it comes to motorcycles.

Can you buy a motorcycle with a auto loan?

Financing a motorcycle may be a little trickier than getting a car loan. Most banks and credit unions offer dedicated auto loans for new and used cars, but that may not be true of all banks and credit unions when it comes to motorcycles.

Can you finance an rv with an auto loan?
  • A lender may offer you a lower rate if you finance an auto and an RV loan at the same financial institution. If you decide to purchase a camper-style RV, you will need a heavy-duty truck to tow it. Many RV dealers sell trucks equipped to tow RV campers.
Can you get an auto loan for food truck?

Also, consider commercial vehicle loans if you're looking to finance the food truck itself. Because both equipment loans and commercial vehicle loans use the equipment or food truck you're buying as collateral, you will likely get a lower rate on this loan than some of the other options on the list.

Can you use an auto loan for a motorcycle?

Financing a motorcycle may be a little trickier than getting a car loan. Most banks and credit unions offer dedicated auto loans for new and used cars, but that may not be true of all banks and credit unions when it comes to motorcycles.

How to apply for sbi rewardz for auto loan?
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Are mazdas good high mileage cars?

According to Vehicle History, you can expect a Mazda3 to last upwards of 200,000 to 300,000 miles on average. In fact, there are even some Mazda3 owners with over 350,00 miles on the odometer and their cars are still going strong.

Are mazdas good with high mileage?

According to Vehicle History, you can expect a Mazda3 to last upwards of 200,000 to 300,000 miles on average. In fact, there are even some Mazda3 owners with over 350,00 miles on the odometer and their cars are still going strong.

Are mercedes good high mileage cars?

There is no simple answer as to how long or how many miles a Mercedes-Benz is good for. Some models have issues as early as 50k miles while other models can go over 200k miles with just regular maintenance. We are starting this post to keep track of models that reach crazy high mileage.

Are volvos good high mileage cars?

Volvo cars have long had the reputation of being able to endure high mileage with little difficulty, and with great reliability. The cars remain looking great despite their epic mileages.

Best oil for high mileage truck?

Best Full Synthetic High Mileage Motor Oil. 1) Pennzoil Platinum High Mileage Full Synthetic Motor Oil; 2) Castrol EDGE High Mileage Full Synthetic Motor Oil; 3) Valvoline Full Synthetic High Mileage Motor Oil; 4) Royal Purple HMX High Mileage Synthetic Motor Oil; 5) Shell Rotella T6 Full Synthetic Diesel Engine Oil; 6) Mag 1 Full Synthetic Motor Oil

What is high mileage for toyota?

On average, a car is driven between 12,000 and 15,000 miles per year, according to Erie Insurance. If you drive more than that, your car is considered high-mileage.

What is high mileage for trucks?

As a rule of thumb – the lower the mileage, the better. For gas engines, look for a truck with under 100,000 miles. For diesel, under 200,000 would be just as good. You could go with higher mileage – just pay more attention to the truck's overall condition in that case.

What's high mileage for a mazda?

According to Vehicle History, you can expect a Mazda3 to last upwards of 200,000 to 300,000 miles on average. In fact, there are even some Mazda3 owners with over 350,00 miles on the odometer and their cars are still going strong.

Can i buy a food truck with an auto loan?

Because both equipment loans and commercial vehicle loans use the equipment or food truck you're buying as collateral, you will likely get a lower rate on this loan than some of the other options on the list. You can also consider leasing the food truck or equipment.

Can i use an auto loan to buy a motorcycle?

Financing a motorcycle may be a little trickier than getting a car loan. Most banks and credit unions offer dedicated auto loans for new and used cars, but that may not be true of all banks and credit unions when it comes to motorcycles… Securing financing through a motorcycle dealership is another option for buyers.

Can you get a loan on a salvage title auto?

It's unlikely that a bank will want to offer you a loan for a salvaged car. However, if it has been rebuilt, there is a chance for a loan. Salvage title cars have not been repaired and are not considered road-worthy. However, these vehicles are sometimes restored and come out the other end in safe running condition.