Loan for classic and older cars?
 

I've been shopping around for a 996 carrera to enjoy along with my boxster. I found a very clean 1 owner 1999 that was traded in at a Volkswagen dealership. Unfortunately I cannot just pay cash for it, and would need to get a loan. They are asking 17,500 for the car and because of the age of the car, will not finance it. I checked with my credit union, they also will not finance vehicles over 10 years old. They offered a personal loan but at a much higher interest rate, no thanks. My question is, are there any companies online that offer financing for such a car? I'd be able to pay it back rather aggressively, so the monthly payment wouldn't be an issue at all. I would need something done quickly hopefully before the car sells.

Suntrust's Light Stream loan products offer the lowest rates for what you are seeking. They are unsecured loans to purchase or refinance car loans. They start at 1.74%.
If you're going to be paying back the loan within 12 months I've been getting tons of 0% transfer offers in the mail again, but these usually have a 2% or 3% fee.

Ok thanks. I did see something about light stream. They finance people
At the mecum auctions, I'll check it out. My plan is to pay it off within 18 months.

ON Velocity channel, a company called JJ Best https://www.jjbest.com/auto-finance/collector-car-financing.aspx?id=2320&utm_campaign=Branding+%2b+C ompetition&utm_source=google&utm_medium=ppc&utm_te rm=j.j.+best&utm_content=1384644x60127744894232242 2 advertises that they have low loan rates for classic and collectible cars

Did online approval with jj best. Very quick and easy. Someone is going to call me tomorrow to finish it up I guess. It said I was approved but didn't say it was for the amount I requested.

Penfed.org, I financed a 1999 Miata and my Boxster through them 1.9%, I had to pay $25 to join some military group ba ck in the day to join. Has been a few years but maybe it will still qualify.

Wells Fargo dealer services is really quick and easy but you can pay up to 9 percent. My credit union didn't bat an eye at my 02 Box.

Sofi worked well for me.


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Heloc
 

Home Equity Line of Credit

Some say you should never put up your house as collateral for a car but my line has served me well over the years. Low interest and you can typically write the interest off on your taxes. Used it to purchase 3 cars this year.

I belong to a credit union. They gave me a 2.5% loan on my 2001 Boxster.

Just don't pay any upfront fees to secure the loan, a classic bait and switch. You pay an application or other fee and then they tell you the rate is going to be higher because they didn't know x, y and z (the age or mileage of your car, your credit rating, whatever). Good Luck!

From what I read the want a 10 percent down payment on the loan to secure a lower rate I'll ask about it when they call

X2 on penfed. Great rates. Financed my boxster with a rebuilt title through them. Will finance my 911 with them when I get that. Lots of term options, flexible financing. Yes you pay to join and have to have 15 bucks in a checking account to be a member but we'll worth it.

I have their rewards card too and buy amazon gift cards with the points, and they buy car things and tell myself they are free :)

How do I join if I didn't serve or work for a Government affiliated contractor?

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