Financing Options for 356 JPS Coupe?

What are my options for financing about 50% of my JPS Coupe? I assume most banks won't touch even a high end (30K) reproduction car.

I checked into JJ Best Bank from the JPS website but their interest rate, even with my stellar credit rating, is 9.9%.

All info is appreciated.

Ulrich

Take out an equity line on your house, or save up by not buying Starbucks for a year.

Capital One. You can apply online and get an answer in 5 minutes. They go more on what your credit is than the type of car. They gave me almost the full amount on my Beck a few months ago. at around 6% which I didn't think was too bad for a specialty vehicle.

Mike

I did the home equity thing because I got an excellent interest rate (just can't remember what it is :-), and am able to deduct the interest.

Finance this.....

Finance this.....


Huh???

Ulrich

Capital One. You can apply online and get an answer in 5 minutes. They go more on what your credit is than the type of car. They gave me almost the full amount on my Beck a few months ago. at around 6% which I didn't think was too bad for a specialty vehicle.

Mike


Mike,
What did you list as Make and Model. VW? Reproduction?

Thanks.

Ulrich

The MSO shows a 1957 Beck Speedster and that is how it is registered when it goes to DMV. I told them it was a 2005 Beck Speedster that had never been titled. Their fine print says that if it has never been titled, it qualifies for a new car rate. Anticipating that there might be a problem when they got the MSO and it showed a '57, I had them send me in writing an acknowledegment that since it had never been titled it would, in fact, qualify for the new car rate.
Sure enough, when the payments came thru, they showed a used car rate of about 8.5%. I referred them back to the acknowledgment letter, and they redid it at the new car rate they had promised.
They Fedex all the documents and check to you so it is quite easy and fast.
Personally, although, yes, if you do a home equity it is tax deductible, I prefer to have the loan against the title of a vehicle, so that in a worst case scenario I can just walk away from the car, rather thn have a bank trying to take my house. Besides, you can save the home equity route for the time when you might have a real financial emergency, or perhaps if you wanted to open your own business, etc.
Just my .02 cents.

Mike

Hagerty also offers financing. Might be worth a look.

http://www.hagerty.com/finance/finance_index.aspx

If you read the documentation for Hagerty Finance, it appears that the funds are actually supplied by Woodside Credit, which is out of
California. They are an excellent company to do business with. I did a new '06 Bentley Continental GT with them. 12 year note, 20% down. I just sold the car and directed the new buyer to them, and again, they refinanced it. However, they DO NOT do KIT CARS or replicas, at least they didn't when I dealt with them about 18 months ago. Ferraris, Lambos, old and new, no problem. And original muscle cars, no problem. But no kit cars or replicas. You could call them, however, and see if they have changed their policy. I have never heard anything good about JJBest. Their rates ae too high.

Mike

I think if you hit two medium sized banks on Fridays you could make a mask withdrawal of about $10K each time. Two jobs and you are financed.