mdfb42
Junior Member
- Joined
- Nov 17, 2013
- Posts
- 14
- Reaction score
- 0
- Ram Year
- 2004 (want)
- Engine
- Hemi 5.7`
Just found an '04 Dodge Ram Quad Cab SLT 4x4 with just over 10,000 miles on it (no its not a typo, I did mean 10K and not 100K). Problem is since it's an '04 no bank wants to give a loan on it longer than a year with a high interest rate. My mom who is a loan officer stated she cannot do anything for me even though it is practically a new truck in mileage terms. I do not think the dealership does in-house financing as many of those went away after the '08 recession. If anyone has been in a similar situation and found a way around it, I am all ears.
A little background: spotless credit history so lending is not a problem is what I need is offered, cannot borrow against my HELOC as the house is only a month old so we have yet to apply and open one, and just saying pay with cash is not an option. I have a trade in that will get me about 65% equity immediately so many lenders would favor this type of loan but unfortunately the actual age of the vehicle rules all.
A little background: spotless credit history so lending is not a problem is what I need is offered, cannot borrow against my HELOC as the house is only a month old so we have yet to apply and open one, and just saying pay with cash is not an option. I have a trade in that will get me about 65% equity immediately so many lenders would favor this type of loan but unfortunately the actual age of the vehicle rules all.