financing for a C-2

[rahzip]

I have been checking around on financing for a C-2. I have been quoted 5.0%-15.0% The only firm quote was 6.49%. I know it depends on credit and all that. I was just looking for suggestion of companies some of you may hve had good dealings with. I am also checking on insurance and would like suggestion on that as well. Thanks!!!!!!

 

[JohnZ]

Don't know about financing, but Hagerty (www.hagerty.com) is one of the best "collector" insurers out there; welcome to the CAC!

 

[IH2LOSE]

Don't know about financing, but Hagerty (www.hagerty.com) is one of the best "collector" insurers out there; welcome to the CAC!

You know John I think your family must of come from the insurance industry,You dont miss an opertunity to promote insurance


As for financing,I always see a company called JJ best at all of the auctions offering finacing for collector cars,

Good Luck in your quest,

 

[c5vetter]

lot of folks use Capitol One to finance collector cars

 

[JohnZ]

You know John I think your family must of come from the insurance industry,You dont miss an opertunity to promote insurance

Actually, that's true - my family was in the insurance business for over 60 years, so I know a little about it; I just try to explain it and clarify some questions when they pop up

 

[WayneC]

6.49% sounds good to me... the only time I tried getting financing for a collector car (about 6 years ago) my bank quoted me 12% (or was it 15%?) when they were offering new-car loans at a much lower rate; shocked (I'm a home owner with a great financial record), I backed off in a hurry, and the car sold before I had a chance to look around for other financing.

I doubt you could do much better than 6.49%, because even 30-year home mortgages are approaching that range, which might be another way to finance: if you are a home owner with some equity and a mortgage at or above today's interest rates, you might think about refinancing the mortgage to pull just enough money out of equity to finance the car... the mortgage is tax-deductible.

 

[tigernut]

In the past, I've gone through my local credit union. All they require is an appraisal of the car.

I recently financed a small amount at 4.5%. Way cheaper than any bank. I love my credit union.

I also recommend Haggerty for insurance. I've been real happy with them.

Doug

 

[Dannoman]

Another vote for Credit Unions.....I financed my 63 last fall and got a 5% loan. That's pretty cheap money!


Danno

 

[firstgear]

Don't know about financing, but Hagerty (www.hagerty.com) is one of the best "collector" insurers out there; welcome to the CAC!

both of mine are with Haggerty....has been VERY GOOD service......I am happy....

 

[Grizzly]

Don't know your exact situation, but if you can get a line of credit based on the equity you have in your house you can deduct what ever interest you pay on your income tax. It's the only thing that I hold over from month to month. Interest is usually about prime, give or take, and floats with it. About 5.5% as I write this.