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

41,240

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 37 nationwide Sebring listings starting at $4,500.

Postal Code:

CarGurus Experts

  • #1
    Sparky222
    Reputation
    4,970
  • #2
    ces13
    Reputation
    2,860
  • #3
    C Daigle
    Reputation
    2,770
View All

Find great deals from top-rated dealers

Search

Related Models For Sale

Used Ford Mustang
65 Great Deals out of 1,259 listings starting at $4,995
Used Chrysler 300
34 Great Deals out of 516 listings starting at $4,999
Used Chevrolet Silverado 1500
202 Great Deals out of 5,975 listings starting at $2,975
Used Chrysler PT Cruiser
13 listings starting at $4,888
Used Chevrolet Corvette
29 Great Deals out of 1,060 listings starting at $15,871
Used Ford F-150
321 Great Deals out of 14,968 listings starting at $1,712
Used Nissan Frontier
22 Great Deals out of 878 listings starting at $5,998
Used Buick LaCrosse
23 listings starting at $2,750
Used Chrysler Town & Country
109 listings starting at $4,990
Used Mercedes-Benz CLS
7 Great Deals out of 86 listings starting at $8,000

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.