As a lot of you know I am buying the truck in my sig. Well I was in the bank signing the papers yesterday and they decided to say, " We are going to give you 3k less than you are asking ( They Quoted me for what I wanted and said its fine) and that it can only be a 3 year loan instead of a 4" even worse "Before we give you the money we have to inspect the truck". First we have been talking to this bank and at least 5 times they said that they are fine with the lenth and amout I want. First they have had me running around getting info that I have never had to get before like the auctual title and a copy of the PO loan agreement. I have never had to do all of this with my other vehicle purchases. The reason they want an inspection is because " the truck is too old and has too many miles", never did they tell me this in the past moth when we have been working with them. Plus the truck is 200 miles away, and the owner will not let me take the truck wothout me oaying for it. I dont understand it. I ahve looked at older trucks with more miles. They Owner has been very patient with me as I work with this bank, but it has been a month sence I have told him I will buy the truck. I feel sorry for him to have to wait on me as I wait on my bank while they give me these stupid demands. It is getting stupid and I realy want this truck but this bank is turning me off to it. I wouldnt mind these inspections and paper work if they would have told me a month ago when I was first in there and I could have arranged something. Any one esle had this much trouble with a bank?

 

i opened this expecting it to be about Gale Banks Engineering

 

So did I, I was prepared to say welcome to the BIG club...

 

That makes three of us....
Banks are never a fun thing to deal with
BANKS, well they have some nice, expensive, products for the truck!

 

Ya i just realized a few guys would think that...Maybe a Mod can move it to Other...My bad should have put it there. But this bank is Geting bad, almost like they dont want my business. Still trying to work things out though.

 

I agree, I thought it was about "Banks" products too....


I'd go find another lender. Tell them to do the deal as agreed or else. I'd start shopping around with other lenders on the phone and see what they say. They might even beat your banks interest rate and do everything on one visit.

 

Go to Bankrate.com and put in what type of loan you want. They will find all the places offering what you are looking for. All that is left to do is apply.

 

a federal credit union is always good for auto loans...as long as the loan is for less than the KBB or NADA value of the vehicle, they dont care.

i bought an 02 ram in july 2004 and the credit union still considered it a new vehicle and gave me 5.9% for 6 years

 

Same here.
I edited the title to try to eliminate the confusion.

 

i was gonna mention credit unions,but got beat to the punch,also you might try your ins company,i have am family and they loan money,but it might be too old for them i think they told me they will go back like 6 yrs 100%,then it tapers off percentage wise,so in the case of the 96 they might only be willing to loan 50% of the value.something like that.worth a try though.jeez when i went to get a house loan about 10 years ago i was buying on contract,but needed 7500 up front the owners wanted 35%,i had a heck of a time getting that out of the banks,had to give them titles to 3 of my vehicles,then they had to take it before the board of directors of the bank for approval,what a hassle.

 

+1 on the credit union

http://www.thinkcu.com/

 

I had one of my vehicles financed through peoplefirst, now Capital One Auto Finance. They can take the info over the phone and you'll be FedEx'd a blank check in the morning. Getting the title from them after the payoff is a bit frustrating unless you use a cashier's check, then it took 5-7 days.

The online banks even offer better financing rates than my local banks and didn't complain when the truck was 8 years old. My local checking account bank added a 6% intrest rate hike because it was 'older than 3 years'. I laughed at him and walked out.

Just for the record, Gale Banks Engineering is waaaaaay overpriced.

brnadon.

 

In the past I have had problems with banks messing me around. Must agree, banks are NOT my favorite corporation.
BTW, in the title if the capitol "B" in "Banks" were changed to lower case, it may help to lessen the confusion.

 

It is a credit Union. The thing is we have bought probably 10 vehicles from them with good rates and no hassles. All the sudden they bring up this stuff. The weird thing is I have my account in another bank so I am going to call them tomorrow and see what they can do. My parents dont want me to go somewere else because they have done a lot for us, when I say they totaly screwed us and the truck owner over big time. I am not to comfortable with online banks if I can support local businesses. Thanks for all the advice guys, I will keep ya posted on what happens.

 

My CU has vehicle age limits. I can't say exactly what they are. After a certain point it might be better to go with a personal loan although the rates are higher. They should have been clearer about their policies before running you through the ringer, but it sounds like someone over there dropped the ball and now they're trying to pull a CYA manuever.