Classic Car Financing
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Instructor
Joined: Apr 2006
Posts: 224
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From: Windsor PA
Classic Car Financing
Since we are talking classic car insurance does anyone have a suggestion for classic car financing besides hagerty? Our bank will not give vehicle loans out on cars that are past 2001.
Safety Car
Joined: Feb 2008
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From: I buy all my days at the same place where the girl sells her nights
Drifting
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From: New Jersey
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From: Salt Lake City Utah
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In this economy, I would not finance a classic car. I don't think values have bottomed out and certainly don't show any signs of recovery.
If I can't pay cash for a hobby, I don't buy, JMHO...........
Having said that, try a credit union if you are going to finance. They are not as strict and usually have more options.
If I can't pay cash for a hobby, I don't buy, JMHO...........
Having said that, try a credit union if you are going to finance. They are not as strict and usually have more options.
Team Owner
Joined: May 2005
Posts: 31,497
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From: Huntsville AL
My local credit union will finance classic cars. They will lend 100% of the value listed in the Cars of Particular Interest value guide.
I have used this in the past to arrange short term financing when I had one car about sold and needed to buy another one immediately.
I agree that it may be a bad time to borrow money to buy toys. On the other hand, buying the right car, at the right price, right now may make you look like a genius later....
I have used this in the past to arrange short term financing when I had one car about sold and needed to buy another one immediately.
I agree that it may be a bad time to borrow money to buy toys. On the other hand, buying the right car, at the right price, right now may make you look like a genius later....
