I just purchased a 2001 Auburn Sky Pearl IS300 with 97,000 miles for 5500.00
Of that only 500.00 was mine (in cash). The rest is courtesy of Wells Fargo. Finding a loan for a such an old car at such a low cost was difficult.
I read a news report just recently about how Wells Fargo was getting deeper into the low-risk auto loan business. Nationwide there's about a trillion dollars of auto loan
debt floating around. Wells is looking to increase their exposure while trying to limit their credit risks. The unfortunate trade-off comes in the brutal interest rates they charge.