the car i want is too old to get financing?

Asked by nepa Mar 17, 2021 at 11:41 AM about the 2005 Chrysler Sebring Limited Coupe FWD

Question type: Shopping & Pricing

I got prequalified for financing but the car I want doesn't come up in the list, possibly because it's too old? Other cars that age do come up as prequalified.

2 Answers

40,000

If the vehicle is more than 10 years old, most lenders will not give you a used car loan. The car has to be worth something in case you default on the loan, because then the bank can't repossess the vehicle and make their money back. If your looking for a 2005 Sebring, those are only worth around $2000 to $3000. If you need a loan, you can apply for a personal loan.

2 people found this helpful.

Your Answer:

Sebring

Looking for a Used Sebring in your area?

CarGurus has 25 nationwide Sebring listings starting at $3,995.

Postal Code:

CarGurus Experts

  • #1
    Sparky222
    Reputation
    4,910
  • #2
    ces13
    Reputation
    2,780
  • #3
    C Daigle
    Reputation
    2,760
View All

Find great deals from top-rated dealers

Search

Related Models For Sale

Used Ford Mustang
54 Great Deals out of 1,606 listings starting at $6,200
Used Chrysler Crossfire
14 listings starting at $6,990
Used Honda Civic
186 Great Deals out of 4,226 listings starting at $2,499
Used Chrysler 300
29 Great Deals out of 544 listings starting at $4,790
Used Chevrolet Monte Carlo
5 listings starting at $9,800
Used Chevrolet Corvette
21 Great Deals out of 605 listings starting at $10,989
Used Honda Accord
53 Great Deals out of 1,019 listings starting at $2,995
Used Ford F-150
343 Great Deals out of 12,723 listings starting at $599
Used Toyota Corolla
139 Great Deals out of 2,287 listings starting at $3,495
Used Chrysler Pacifica
46 Great Deals out of 785 listings starting at $15,900
Used Chrysler PT Cruiser
10 listings starting at $5,990

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use. Content will be removed if CarGurus becomes aware that it violates our policies.