red70stingray

I am looking to make a purchase and need to get a classic car loan.
I have done plenty of internet searches and find JJ Best, but almost all the reviews are horror stories!. Anyone other then JJ Best out there for classic car loans with a positive review? Is it an easyer proccess if
i went to a classic car dealer and had them do the loan or will it all fall in my lap anyway?

Easy Mike

Have you talked to the folks at your bank/credit union? Why not work with folks you know instead of horror story unknowns?

ROC OUT

I just called my local credit union inquiring about the maximum loan amount on a 1981 Corvette out of curiosity and they had no problem figuring out the maximum amount they would loan, applicable interest rate (2.50%) and asked me how long I wanted to finance - 36, 48, or 60 months. There may be no need for you to work with so-called "specialists" in classic car financing.

Hardway

Hey ROC, at the rate it sounds like you called RBFCU. I used them to finance my '81 and previously my '69 Camaro. They are probably once of the best CU's in the central Texas area. If you got that rate through someone else I would love to know who it was. Keep us posted once you make a purchase!

red70stingray

I never gave it any thought about my local bank. I will give them a call on monday

Jeffery73

I got a loan once though State Farm to buy a '72 Gran Torino. Rate was reasonable. That was about 10 years ago though. I'm not sure if they still do it.

Hadez

Hagerty also finances. VERY easy with them and good rates. I did this on purchase of Killer. But be careful as there is an early payoff penalty in the first 2 years that I almost got caught up owe a early payoff fee of $500 but they told me this when I went to make one final last payment so I waited a few more months and then made the final payment.

Lupigiato

I heard that JJ Best is not a bank and therefore not a lender. They secure financing through a bank on your behalf and then that bank sells the note to another bank. JJ Best is therefore a broker of some sort.

milo30

Usually on cars this old they don't do car loans. What they will do is a personal loan and use the car as collateral. Same end result just a different way to get there. The reason I even mention this is that you may call and ask about a car loan and they may say they don't do it because of the age and they might not mention to you that they would do a personal loan to you.

Normally credit unions are more lenient on these kinds of loans. They have a lot more flexibility than banks. If your bank doesn't pan out go talk to a credit union

ptroxx

+1

ROC OUT

Actually, it was GEFCU and I have made over 5 loans with them. They are great and I suspect have more flexibility that a regular bank in making certain loans.

In response to a previous post, no, this wasn't a personal loan, they were to use the '81 as collateral only, and there was no prepayment penalty.

taylor00

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wer2xu

above post is spam...

Are you a member of USAA? They have really good loans...as others have said check your local bank.

If you have children under 3 you can easily get 30K for each of them.

AirborneSilva

I will be using RBFCU for my next classic auto (another brand, not Chevy ), and when I'm ready to trade my pickup within the next year. they are great to work with, no hassles and great rates!

MRANT212

If you own a home and have equity in it just take a line of credit and write a check against it. My line is at 3%. I tapped into it years back when I bought my cars for some of it. Long paid off . Interest is also deductible....don't know how long that will last with the shape of the government.