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Thread: Is it possible to finance a used Atom in the USA?

  1. #1
    n00b
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    Question Is it possible to finance a used Atom in the USA?

    Here's my question: I've learned that you can't finance a new Atom because they don't come with a title. But what about a street legal Atom that's already been registered and being sold used by a previous owner. If it's been registered, it must have a title. So could it then be financed? I don't have 60K cash lying around, but I could afford the monthly payment on a loan agreement. So I'm wondering if I have no chance of buying an Atom since I don't have the means to acquire one in an all cash purchase or if I could buy a used Atom with a title and finance that, or if there's some other way?

  2. #2
    Electron
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    Yes, it's possible.

    I went thru my credit union to purchase my Atom. I figured their car loan dept. would be better equipped to help if there were any titling issues. Thankfully, it went thru smoothly. All my CU cared about was that it had a VIN they could associate to the loan. Since it was previously registered out of state, they also required a green sheet inspection and pictures of all 4 sides. They didn't give me any grief about what it was otherwise. Good luck to you.

  3. #3
    Electron
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    There are always alternative ways of financing other than conventional auto loan. For example, look into personal loan, equity loan etc. But my personal philosophy is never owe anyone anything, I only have a mortgage for tax purposes.

  4. #4
    Lepton
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    401k loan is another option but make sure you understand the rules for your particular plan. You generally pay yourself around 3% interest rather than paying a bank.

  5. #5
    762
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    Gluon
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    I used lightstream lending which is an option for those with good credit for an unsecured loan. I actually got a better rate than I was being offered on a secured loan.

  6. #6
    Lepton McFred's Avatar
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    Quote Originally Posted by atom ant View Post
    my personal philosophy is never owe anyone anything, I only have a mortgage for tax purposes.
    I pretty much subscribe to that plan. Needing something is different than wanting it.

    OP, if you're working 40 hours a week or less then you have at least another 30 hrs a week you can be doing something to get the capital for your hobbies. Owning an Atom free and clear is very rewarding.
    4rings likes this.

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