Auto Loans??
Thread Starter
Burning Brakes
Joined: Aug 2004
Posts: 771
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From: Washington District of Columbia
Auto Loans??
Anyone out there know of any financial institutions that make auto loans
for "buying" and/or "refurbishing Corvettes, etc., other than your own
personal financial institution? I've seen ads, I believe on the forum, but
I don't remember. My own bank rejected my application over a year ago for what ever reason. I would like to either "refurbish" my '94 or replace it with a '94 or '95 ZR1 or a 2006 or 2007 C6. Thanks.
for "buying" and/or "refurbishing Corvettes, etc., other than your own
personal financial institution? I've seen ads, I believe on the forum, but
I don't remember. My own bank rejected my application over a year ago for what ever reason. I would like to either "refurbish" my '94 or replace it with a '94 or '95 ZR1 or a 2006 or 2007 C6. Thanks.
Race Director
Joined: Oct 2005
Posts: 11,770
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From: Rolla Missouri
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St. Jude Donor '10 thru '25
Probably the only type of loan your going to get for something like that is a "Personal Signature" loan.
They have tightened up the lending practices quite a bit over the last two years, but if you have very good credit you might still be able to do that.
I have borrowed as much as $25,000 on just my signature alone. No collateral of any kind other than my signature and good credit.
That was from Capital One loans.
They have tightened up the lending practices quite a bit over the last two years, but if you have very good credit you might still be able to do that.
I have borrowed as much as $25,000 on just my signature alone. No collateral of any kind other than my signature and good credit.
That was from Capital One loans.
Pro
Joined: Oct 2009
Posts: 730
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From: LaGrange Highlands IL
I would try a credit union if you belong to one and see what they have to say. I financed my car through www.jjbest.com, their interest rates a little higher than normal but that depends upon your credit rating too, and mines good. On a newer vette such as a C6 I can't see any problem with getting a regular car loan depending upon your credit. Refurbishing, I'm not sure about that unless you refinance the 94 you already have.
Joe
Joe
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Joined: Jan 2009
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From: Somewhere in Mo
St. Jude Donor '09-'10, '14
My personal suggestion is to google classic car loans. Car loans for cars over 10 years old and such.
There are a lot of them. I had a car loan through Wachovia Auto once, and they loaned on cars over ten years old IIRC. But they were recently bought out by Wells Fargo Auto.
You might try them.
The above suggestions are also good ones. Lenders have tightened their belt while the fed res gives them 0% loans. Go figure.
There are a lot of them. I had a car loan through Wachovia Auto once, and they loaned on cars over ten years old IIRC. But they were recently bought out by Wells Fargo Auto.
You might try them.
The above suggestions are also good ones. Lenders have tightened their belt while the fed res gives them 0% loans. Go figure.
Burning Brakes
Joined: Apr 2010
Posts: 1,018
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From: Winston Ga.
OP, try poking around the major auction websites and ask questions. I know they have booths/personnel on site at the auctions in order for people to get car loans but it may boil down to signature loans like the previous poster says.
I agree Credit Unions are the bomb for loans. mine has come through many times even when the banks were at their worst.
Team Owner
Joined: Jan 2009
Posts: 73,568
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From: Somewhere in Mo
St. Jude Donor '09-'10, '14
this is a GOOD thing btw... loose loans to people that dont deserve them is what got us into this in the first place.
OP, try poking around the major auction websites and ask questions. I know they have booths/personnel on site at the auctions in order for people to get car loans but it may boil down to signature loans like the previous poster says.
I agree Credit Unions are the bomb for loans. mine has come through many times even when the banks were at their worst.
OP, try poking around the major auction websites and ask questions. I know they have booths/personnel on site at the auctions in order for people to get car loans but it may boil down to signature loans like the previous poster says.
I agree Credit Unions are the bomb for loans. mine has come through many times even when the banks were at their worst.
Team Owner
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From: Kennesaw, GA www.96LT4.com
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My credit union will finance you on my ZR-1 if you're interested.
