I’m from Texas and looking to purchase a supra out of state.

[Bebo19]

Hi all, I’m looking to purchase a supra soon (It’s going to be purchased from a private seller instead of a dealership) and I’m wanting to finance through a credit union. However what I’ve seen online is local credit unions here in Texas don’t allow out of state purchases. If anyone has purchased out of state please let me know how y’all did it! Any advice is appreciated!

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[Viper]

I bought my TRX out of state and paid cash then went to Austin telco they financed it. They just gave me back the amount over what i financed

hope that helps

 

[NCMIKE]

Some banks offer private party car loans. PNC is one. The rates aren’t great but you can refinance later. Home equity is another option but there is a risk of being homeless if you default. I am old school when it comes to auto loans, if you don’t have the cash in hand to pay it off, maybe you should not buy it.

 

[BRM]

I used US Bank, my National bank to purchase an out-of-state vehicle, flew to CA from NV, met the owner at the bank and it took me 30 minutes to get the funds, US Bank wrote a check to the owner and I was on the road home with my new car. Called the local branch to get preapproved and setup an appointment

 

[concept]

Some banks offer private party car loans. PNC is one. The rates aren’t great but you can refinance later. Home equity is another option but there is a risk of being homeless if you default. I am old school when it comes to auto loans, if you don’t have the cash in hand to pay it off, maybe you should not buy it.

Sometimes you need to conserve ready-cash for emergencies and pay off an auto loan with SS or a pension. When interest rates are low, borrowing money is often the better choice of your cash is being invested. Of course, cash is currently a better option unless you are pulling it out of pre-tax savings, leading to getting punished in other ways for "higher income".

 

[MisoSup]

Is the out of state purchase so amazing it is worth the trouble? Time and miles are money. How much savings are we talking here?

 

[Lonestar_Nomad]

Alright so I actually have a direct answer for your question.

I purchased thru a dealership out of state (I live in Texas) and financed thru penfed credit union.

It was absolutely zero hassle and straight forward. I have my vehicles title in hand in my name. I did put down a very large cash amount but that was irrelevant. PenFed was willing to finance me at 100% or 10%. The process was getting pre approved online for the full cost (I used 60k as my initial) then did the final hard approval. Once the vehicle was a reality and I was ready to go, I went to a brick and mortar location to pickup the check for what I actually wanted to finance, aside from my cash in hand. Had a check within 10 minutes and was on my way.

was simple and easy, they were great to deal with.

 

[NCMIKE]

Alright so I actually have a direct answer for your question.

I purchased thru a dealership out of state (I live in Texas) and financed thru penfed credit union.

It was absolutely zero hassle and straight forward. I have my vehicles title in hand in my name. I did put down a very large cash amount but that was irrelevant. PenFed was willing to finance me at 100% or 10%. The process was getting pre approved online for the full cost (I used 60k as my initial) then did the final hard approval. Once the vehicle was a reality and I was ready to go, I went to a brick and mortar location to pickup the check for what I actually wanted to finance, aside from my cash in hand. Had a check within 10 minutes and was on my way.

was simple and easy, they were great to deal with.

The OP wants to purchase from a private seller so his loan needs are different than your experience.

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