Financing a C3
Administrator
Joined: Jul 2000
Posts: 53,983
Likes: 6,211
From: About 1100 miles from where I call home.
I would imagine that a local institution is better especially one you have a personal relationship with, and many people use "convenience checks" from their credit card companies as an easy mobile option.
However, if you are looking for a finance company that is experienced in collector cars, Woodside Credit is the company associated with Barrett-Jackson:
http://www.woodsidecredit.com/Barrett-Jackson.asp
However, if you are looking for a finance company that is experienced in collector cars, Woodside Credit is the company associated with Barrett-Jackson:
http://www.woodsidecredit.com/Barrett-Jackson.asp
Racer
Joined: Jun 2011
Posts: 383
Likes: 21
From: Greenville Ohio
Went to my local bank and asked for a loan. Basically they asked what year it was and the purchase price. I guess they found it reasonable as they didn't seem concerned, of course I have all of my accounts through them and really didn't have any other debt at the time.
Drifting
Joined: Sep 2004
Posts: 1,625
Likes: 4
From: Miami FL
Burning Brakes
Joined: Jul 2009
Posts: 912
Likes: 47
From: Kansas City MO
Did the same thing here. They even had special rates for old classic car loans. Basically told them cost of vehicle and received direct deposit into my account within a few days! Paid seller in cash...
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Pro
Joined: Apr 2012
Posts: 543
Likes: 10
From: B.F.E....Bowling Green Kentucky
eeerr..I use my home equity loan for anything that I can't afford to pay cash for. Helps on taxes and only 4% interest (I think that's pretty good). I'm sure I'm not supposed to buy things like pools and old cars with it 
but I don't think they care as long as they are getting their payments!
but I don't think they care as long as they are getting their payments!
Advanced
Joined: Sep 2008
Posts: 52
Likes: 2
I just used PenFed for my purchase. No age restriction, just has to be under 100K miles. But since these odometers only have 5 digits, no reason it couldn't be over. Got a blank check and wrote it to the seller. Best part was the 1.9% interest rate. They are currently doing 1.49%. Crazy.
Drifting
Joined: May 2011
Posts: 1,526
Likes: 8
From: Atlanta Ga
Yup. My Credit Union. I have financed multiple cars through them. Have payed off multiple car loans as well. They don't "offer" car loans for cars older than 2004, but since we have a good track record they are fine with it
Thread Starter
Instructor
Joined: Aug 2011
Posts: 133
Likes: 1
From: Champlin Minnesota
I just used PenFed for my purchase. No age restriction, just has to be under 100K miles. But since these odometers only have 5 digits, no reason it couldn't be over. Got a blank check and wrote it to the seller. Best part was the 1.9% interest rate. They are currently doing 1.49%. Crazy.
Advanced
Joined: Sep 2008
Posts: 52
Likes: 2
Last edited by NEWB; Aug 14, 2012 at 08:40 AM.
1969/1971/2021 Coupes
Joined: Jan 2008
Posts: 2,212
Likes: 80
From: Port Huron MI
St. Jude Donor '09-'10-'11-'12-'13-'14-'15
Same here. You have to have served in the Armed Forces to be a member though or at least have a direct relation to someone who has (parent, sibling etc). You'd have to check on that part to be sure just how that works. I was approved over the phone in 30 minutes each time on 2 different cars. Recieved the paperwork the very next day by Fedex, signed and faxed it back to them (USAA). I opted to have the check sent directly to the Vette seller who also recieved the check the same day I recieved the paperwork in the mail. Very good company as others have said. Collector car insurance through them too.
Terry
Terry
Team Owner
Joined: Jan 2006
Posts: 37,637
Likes: 3,118
From: Crossville TN
Well, if you're rich, you just borrow the money (at ridiculously low interest rates) from someone else to buy that pristine, '68 L71 Convertible. Then, in a year or two, after having some restoration shop detail it to "the nines", you take it to Barrett-Jackson and resell it...and write-off the interest, the restoration work, the B-J sales fee, and the trip to Scottsdale as "business expenses".
Show me the money!!!
Show me the money!!!
Le Mans Master
Joined: Oct 2004
Posts: 6,314
Likes: 508
From: South-central Missouri
If'n ya just hasta finance a Vette (believe me, I understand), Capitol One is easy to deal with - whereas Chase would not finance a car older than 7 years, as I recall at the time.
P.
P.
Drifting
Joined: Oct 2009
Posts: 1,939
Likes: 199
From: Palm Bay Florida
A line of credit on your house is easy if you are not upside down, they don't care what you use it for. But I don't borrow to buy Corvettes unless its a car I could sell the next day at a major profit.
Mark
Mark
