Idan55

Hello everyone, in new over here.
I hope it' the right place for this ad.

I'm looking to finance my first corvette 1980, but I'm not sure what are the best compnies there or if you guys had good/bad experiece with some....


Thank you,
Dan.

Easy Mike

FWIW: talk to your bank about an auto loan or a personal loan.

Idan55

I'm at bank of America, they won' appove classic cars loan ( has to be X years for than to finance).

Easy Mike

Ask about a personal loan.

BKarol

Hagerty has a link to a few which are also mentioned on other forums:https://www.hagerty.com/finance/classic-car-financing

I have not had any experience with them.

ddawson

I used Woodside credit.

Idan55

are they any good? And weird yearns?

Idan55

the problem with personal loan is high %, they'll ask more than 7-10%

540 vette

Try a 401k loan. Low interest, guaranteed approval, interest goes to you. Set up how long you pay it back.

danh77

Last year I came across one of the many cars my late father used to own and with 2 kids in grad school and one planning a wedding didn’t have the spare coin so contacted jjbest. I spoke with them on the phone for approx 10minutes and they fedexed the paperwork to me and everything was a go. Unfortunately the car sold before I got to it so can’t speak of the whole experience but seemed pretty straightforward

JohnnyQuik

Hagerty or Lightstream

DavidandJoansVette

Buyavette in Atlanta got my 77 financed through Northwest Bank in Warren ,PA. Good luck.

danh77

I live less than 20miles from Warren PA and never knew they did old car loans. Good to know.

C3 4ME

I'm going to play the role of the sensible person here. If you have to take out a loan for a classic car, you have no business buying one. In fact, I apply that to every car I buy, whether it's a daily driver or extra car, but ESPECIALLY an extra car.

ddawson

No issues, BUT if you pay it off early there is some fine.

Cooter Tech

Local credit union might be a source for a loan on a used car. That will be the only way they will look at it. Be careful and have someone else look it over as it could be a money pit. They are almost 40 years old and things mysteriously break. I turned my wipers on last year, the plastic **** turned to dust when I touched it! Only $5.00, but that’s what you are up against with a 40 year old car. Still beautiful though! Good Luck! Read the sticky on buying a used C-3. Excellent advice, print it and take it with you when you start looking.

joewill

the secret is to put money down.. if you are wanting to borrow 100%, most won't loan you.. but if you borrow 50% and put 50% down.. then even i will loan you that money.

since I get the car for half price if you default, and it is great incentive to keep paying, when you have equity in your car.

Hayes69

Bikespace

I gotta agree with that. These cars are toys, and should be bought with the change you found in your couch. Only take out a loan to buy a house, or fix your house. C3s are great, but they will suck you dry, and that will happen twice as fast if you start out in a hole.

That said, if you are eligible for a work, industry, or service related credit union, they might have better rates than a typical bank. If they have used car loans at all, I wouldn't imagine that it matters if the car is 4 years old or 40.

Rescue Rogers

DCU. Digital Credit Union. Will loan I believe 85%(?) of appraisal. My car was 19k and it had to appraise for 24K. Not sure if that math works. 3% loan no money down. I pay $332/month for 5 years