# Financing options for TLC



## kjboss (Nov 16, 2018)

I currently drive Avalon 2013 and need a new car. I have TLC plates since 1996. Financing was always a pain. Last time I bought Avalon 20% down and 30months loan and it was not that bad, but now price of a vehicle is 20k more than avalon.

Thinking to get brand new 2019 Lexus RX450 that I will use for business and private. I want that car and I know if will depreciate fast, but I want to have it for myself. 

I have great credit history (780 fico), but want to have long loan and deposit of $10k max. 
Need to transfer plates at the time of buying vehicle.

Dealers say to buy and put private plates and later to transfer, but I dont want to play this game and later have problems with a bank that calls a loan in full and I am screewed. 

Do you have any idea how to finance a car for TLC these days from a dealer ?


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## NorCalPhil (Aug 19, 2016)

I don't know about financing for TLC, but I've got a really nice bridge for sale.


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## occupant (Jul 7, 2015)

You need a credit union. With your FICO and $10k down and your five year history of operating TLC, if you kept good records of income and expenses, it should be no problem to get a loan. You do NOT want the longer term unless it provides a LOWER interest rate. As long as you have a SIMPLE INTEREST LOAN, it does not matter the length of term. You want to pay off AS MUCH AS POSSIBLE every month.

If you're wanting an RX450h, that's a $46000 car with no options. About $4000 in tax and title and doc fees. Put ten grand down and get a 5 percent 3 year loan from a credit union and you're at $1200 a month. So you pay half again as much ($1800 a month) and it's paid off in 2 years instead of 3 years. You also save $1000 in interest.

You have more than 740 score, you can get a zero interest loan on any car you want with at least 10% down. Tell the dealer to pound sand if they can't comply. THAT is why you need the credit union because the dealer WILL LIE TO YOU.


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