good classic car financing company? - Team Camaro Tech
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post #1 of 22 (permalink) Old Mar 6th, 07, 09:25 PM Thread Starter
 
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good classic car financing company?

Im looking to purchase my first classic, a 68-69 camaro, and would like suggestion on a good place for financing.

thanks
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post #2 of 22 (permalink) Old Mar 6th, 07, 09:33 PM
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Re: good classic car financing company?

Refinance the house. lol
My Credit union wont do cars older than a few years. Luckily a bank my father has been with for years let me have what I needed.
search the net.

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post #3 of 22 (permalink) Old Mar 6th, 07, 09:59 PM
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Re: good classic car financing company?

Do not use capital one, They approved me but not for any car under 2001, jj best will finance any collector car...crash


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post #4 of 22 (permalink) Old Mar 7th, 07, 05:15 AM
 
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Re: good classic car financing company?

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post #5 of 22 (permalink) Old Mar 7th, 07, 05:38 AM
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Re: good classic car financing company?

Just google classic car financing on the net. You will get dozens of hits.

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post #6 of 22 (permalink) Old Mar 7th, 07, 06:02 AM
 
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Re: good classic car financing company?

A home equity loan is the best way, remember your interest is tax deductable on a home equity line. If you do not own a home, try Hagerty, yes Hagerty the cclasic car insuarnce folks, they also finance classic cars. I think it's Hagerty.com.
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post #7 of 22 (permalink) Old Mar 7th, 07, 07:07 AM
 
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Re: good classic car financing company?

Quote:
Originally Posted by 67fan View Post
A home equity loan is the best way, remember your interest is tax deductable on a home equity line. If you do not own a home, try Hagerty, yes Hagerty the cclasic car insuarnce folks, they also finance classic cars. I think it's Hagerty.com.
Ditto
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post #8 of 22 (permalink) Old Mar 7th, 07, 07:22 AM
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Re: good classic car financing company?

If you can't afford to pay cash for toys then you can't afford that toy. Keep saving.

Scott.
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post #9 of 22 (permalink) Old Mar 7th, 07, 08:01 AM
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Re: good classic car financing company?

Quote:
Originally posted by Scott Taylor: If you can't afford to pay cash for toys then you can't afford that toy. Keep saving.
I disagree. If the only way you can get a "toy" is to finance it, as long as you can afford the payment, why not?? Don't be a moron and miss a mortgage payment or neglect the kids, but why would financing a classic, be any different than financing a daily driver? If you don't have the 20K or whatever the cost squirled away (not many people do) I see nothing wrong with financing as long as you can swing the payment. Just remember you will pay more for the car with the finance charges.

Oh by the way, welcome to Team camaro !

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post #10 of 22 (permalink) Old Mar 7th, 07, 08:18 AM
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Re: good classic car financing company?

Spoken like a true American. That is why so many are in debt up to their eyeballs.

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post #11 of 22 (permalink) Old Mar 7th, 07, 08:37 AM
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Re: good classic car financing company?

Are you saying no one should finance things? They shouldn't buy a house, a daily driver, or go to college unless they have the cash saved? That would be ridiculous. I stated that if you don't have the cash saved, finance it if you can afford the payment. If you can't afford the payment, don't finance it. I personally could care less what people do, I have no debt at all (other than a mortgage) if I hadn't financed the house, I still wouldn't own one. I am not in debt up to my eyeballs, I am a true American, and if you are going to be in debt that you can't handle, don't finance a toy!

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post #12 of 22 (permalink) Old Mar 7th, 07, 09:04 AM
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Re: good classic car financing company?

Toys dude! The key word was toys. If you can't afford them and don't need them, don't buy them! House? Not a toy! Daily driver? Not a toy! College degree? Not a toy! Classic car? Ski boat? Helicopter? Toys! Any questions?

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post #13 of 22 (permalink) Old Mar 7th, 07, 09:17 AM
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Re: good classic car financing company?

And my keywords were "if you can't swing the payment, don't finance it". If you can swing the payment without affecting your household finances, I see nothing wrong with that. Most people don't have 10k-30k just lying around and would like to own a classic, financing is a viable alternative for them. JMHO, we will have to agree to disagree.

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post #14 of 22 (permalink) Old Mar 30th, 07, 06:39 PM Thread Starter
 
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Re: good classic car financing company?

Quote:
Originally Posted by Scott Taylor View Post
If you can't afford to pay cash for toys then you can't afford that toy. Keep saving.

well its not going to be a toy. im selling both my cars and am looking to purchase a restored first gen that i can drive daily.

of course i will pay some cash, i dont plan on financing the whole car, but also dont want to pay 30k cash for a car when i can use that money elsewhere that can make more money for me.

im 25 single with no kids, so other than my mortgage, i dont have anything else to neglect. hehe.





thanks for the hagery suggestion, ill check into them.

what about the "blank check" type car loans, where they just approve you a max amount and then you can use the check like cash. If i understand the process correctly, they already give you the loan before they even find out what the car is, so wouldn you be able to buy whatever you want?

i thought about the home equity line, but with the housing market the way it is in FL right now, id rather just leave my houses alone.
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post #15 of 22 (permalink) Old Mar 30th, 07, 06:47 PM
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Re: good classic car financing company?

No, they give you a blank check good for xxxx amount of dollars, but it isn't any good until it is endorsed. They need a notarized copy of the title signed by both the seller and purchaser and a bill of sale showing the price at minimum before they will actually authorize the funds to be transfered to the seller. It's a pain in the butt. That's how 1 guy wanted to buy my 67 a few weeks ago and I told it wasn't worth my time to jump thru all the hoops for him. I told him to come back when he had his money in his hand. Never heard from him again. Come to think of it, he still owes me 48 dollars to relist the car...

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