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Thread: vehicle financing

  1. #1

    vehicle financing

    8)

  2. #2
    Senior Member RACING JUNKIE THERATTLER's Avatar
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    You might try Mr. OBAMA,,,I hear he is trying to help the automotive industry
    ***IN GOD WE TRUST***GOD BLESS AMERICA******

  3. #3
    Senior Member RACING JUNKIE
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    Quote Originally Posted by maniac
    You might try Mr. OBAMA,,,I hear he is trying to help the automotive industry
    Yeah we'll finance it for ya with tax money...no sweat.

    Only condition is you must quit your job first. :lol:

  4. #4
    Senior Member EXPERT BUILDER
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    Good Luck !!!!!! These days trying to borrow money. Unless your coming in from another country :? :twisted: :evil:

  5. #5
    Member MASTER JOURNEYMAN
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    I kind of figured the folks financing collector cars would get cold feet. They are probably thinking that either collector cars are loosing equity or are about to loose a large chunk of equity.
    On the flip side, if you save up for one you just might get into what you want for a lot cheaper than you think. My son and I will be buying something with in the next year to race and possibly show and drive on the street. We should have enough cash in a little while to pull it off. My biggest issue is I'd rather buy something that is a roller so we can set it up like we want and initially I can get a roller cheaper, but if you really crunch the numbers a complete car is actually a way better deal most of the time.

  6. #6
    Senior Member RACING JUNKIE
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    I know the feeling, I like to start from the ground up myself. nobody ever gets what they have into a car out of it when sold. count every bolt , component, cost of car. I am doing a chassis off resto on 71 gmc sprint (el camino) kinda rare. by the time I am finished cost will be about 16 k . me doing all the work.

  7. #7
    Senior Member RACING JUNKIE TheYellaBrick's Avatar
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    You'll NEVER get out what you put in 'em......

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  8. #8
    Senior Member RACING JUNKIE
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    I don't want sound negative, but not really a good idea to finance a race car, especially if you're buying one already built. First you don't always know what you're getting, second you could break it on the first trip to the track, and then you're left with payments a car that doesn't run any more. if it's prostreet car/driver, the bank will finance it, if it's a decent car and with good credit. But i still would never finance a race car or anything that has a good chance of breaking with a little bit abuse.

    JMO

    Zip.

  9. #9
    Senior Member RACING JUNKIE
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    The key is having good credit.
    Depending on how much you want, most banks (your bank) will give a signature loan.
    I borrowed $5800 to buy a 68 camaro roller last december.
    Stretched out the payments over 2 years, and it came in around 2 bills a month, which is not bad for a non-collateralized simple interest loan, the quicker I pay it off the less interest I pay.

    But Zipppers right, I wouldn't go out on a limb and borrow a ton of money on a complete car that you might blow up first time down the track or road.
    Just a thought.

    Cp
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  10. #10
    Member MASTER JOURNEYMAN
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    Quote Originally Posted by zipper06
    I don't want sound negative, but not really a good idea to finance a race car, especially if you're buying one already built. First you don't always know what you're getting, second you could break it on the first trip to the track, and then you're left with payments a car that doesn't run any more. if it's prostreet car/driver, the bank will finance it, if it's a decent car and with good credit. But i still would never finance a race car or anything that has a good chance of breaking with a little bit abuse.

    JMO

    Zip.
    EXACTLY!!!Though I may go to the bank and get a loan to buy the "roller" part of the deal if something pops up that is really a good deal. I can pay it off when I have all my money together and then start building.


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