classic car loans

-
WOW .......did this one get off track.. he asked if anyone took out a loan with a classic car loan place and you guys took him to the wood shed .. I'm 65 have built many cars in the last 50 years but arthritis and the years make building another doubtful .. but I still love to drive them ...so is it wrong for me to write a check or get a loan ..sounds like a lot of foolish youthful remarks ..wait your day will come ..get the loan lamont
 
id like to thank everyone for there help and comments.i did check with my credit union I used to buy my Harley and they do offer classic car loans @ 5.5% interest.so now comes the fun in finding the car I want.and just so everyone does know I have done my cars myself (except for paint work) but just wanted to buy one I can jump in and drive cause I don't have time anymore with work and kids.im sure everyone knows what that's like
 
That sounds like a good interest rate.

I talked to my bank about it a while back when I was looking at a R/T challenger and they said being an unsecure loan the rates would likely be high. But I need a garage lol

I look at it like this you could go buy a new car with a loan and watch it depreciate day by day and in 5 years have something you no longer want and wont get any thing close to what you paid for it when you sell it.

Or buy a older car (most seam to at very least hold value) and maybe turn it over to the your kid latter in life.

If you are comfortable buy it and enjoy it like the millions of people walking out of the motorcycle shops.

:burnout:
 
5.5% doesn't seem too bad really.
Credit unions, home equity/refi/cash out, 401k, Stock sell off.
Ya only live once and if you want to buy a Classic already done Go For it!

Thought it was kinda funny everyone offering well intentioned but motherly advice!

I sold off some stock last year to get another classic and heard some crap about it but Hell I worked for the money and I'll be damned if someone's gonna tell me what to do with my money.

Cash is King and sometimes life dictates a sell off of a Classic Car so wait for a bargain to come along......WAIT FOR A BARGAIN TO COME ALONG, don't let that money burn a hole in your pocket!
 
I make all my large purchases with a secured line of credit which is now at 3.9 percent.

I don't see any problem with buying a finished car, theres plenty of deals out there. There was a resto mod 69 road runner on b-bodies last year that had 60000 plus invested and the asking price was 29000. At least you wont loose 50% of its value after 4 years like my '14 dodge ram will.
 
You must log in or register to reply here.
-

Back
Top