paying for speedster

Hawee, if you're not sure...I highly doubt if a bank is going to be too receptive of your desires.

JJ Best with a decent down payment

As a below-average income-earner with few prospects and no assets, I don't want to be too presumptuous here. And no offense meant to hawee or anyone. But isn't a Speedster--or any kind of similar toy--usually presumed to be a cash purchase? Just on general personal-finance-best-practices principles, I mean?

Jj Best is just about the only one that will do it as it is typically a loan on a VW and banks don't go back that far (meaning year or age of car) on used cars...  20 percent down and the interest is about 8.5 percent.  But, if you are determined, you can do it through them.  Ask for Chris Laganelli.  Great guy and easy to work with.  I did my first speedster through them and that is who I worked with specifically.  They then use Commerce Bank in Worcester Ma to issue the loan and take your hard earned money.  Having done it both ways...pay cash and get loan on my 2 speedsters, I am torn.  Hate to pay the interest, but also hate to give up 25k In one shot.  Good luck...

Reason i ask is that most banks will value your vehicle based on book price. Where would you be able to get a book price? I doubt these vehicles are listed.

They are listed (if on a vw pan) as a vw...  and that is why banks won't do these.  If it is a vw it is worth 5k maybe?  If it is a manufactured car (beck, IM) then there is no book That would list...

Guess i'll check with my credit union and see what they say.

Good Luck!  Most (virtually all) banks & credit unions will not touch Replicars  J.J. Best is different.  Additionally some may want a "title" and not all states issues titles back more the 10 or 15 years.  In some states you can pay to have a title issued for an older car.  Also try Woodside Credit, and Putnam Leasing - but I think they will not do Replica's.  I can't remember for sure.  Again, good luck.

There are a ton of companies that need to lend $ (as that is how they make $)in TN where I live they are called savings and loans or finance companies not sure about TX.  They will loan $ on anything as long as it doesn't eat and is for your personal use (not business use).  Now the trade off is there will be add on fees such as gap insurance possibly a life policy among other things and the interest rate will be much higher than a credit union not so much with banks.  They are generally able to do an inspection on the vehicle and base risk on several factors but the primary ones are down payment as a percentage of loan, obviously your credit history as well as stability factors such as time on job and at residence. Finding $ for your purchase will depend more on you than what you are purchasing. I guess the question becomes is the $ worth the price it cost to get it.   

Here's my story.   5 years ago a dealer had a JPS coupe for sale.  I tried

5 different lending institutions and was denied each time.   The last

lender gave me a verbal ok and the backed out once they realized it

was a replica.  I am a very low credit risk and was putting down half

as a down payment.   I could have paid cash but I was so pis..ed I

just walked away.   A year later the same dealer had a VS speedster.

I paid cash for this one.  Last year I bought a 2013 VW cc and they offered

zero interest for 60 months.   I got financed in 10 minutes.

I had the choice between pulling money out of investments or pursuing low-interest financing and I chose the latter. In my case I went with an equity line of credit with my bank and they didn't care what I used it for.  I put about half down on the car in cash (well, check actually) and wrote a check from the line or credit for the rest.  Very low interest and didn't disturb some investments that were doing well.

I ended up paying for my Spyder kit(mostly) from a work stock option that split, so basically free money. Then I bought my engine on a 0% for a year credit card that went to 4.99% after that first year. Ah, the good old financial days! Low interest and plenty of credit available!

If you absolutely MUST take a loan.  Take it out of your 401k, that way you are paying yourself back +interest.  Sometimes the interest you pay yourself back is a better return than the market.  haha

Had near fatal motorcycle accident.  Sold Ducatis.  Monster was wrecked and the 2001 ST4 wasn't worth much.  No cash since I give it all to my kids.  Took money from whole life insurance equity.  Not real smart.  But what the F.  You only live twice.

Thought I was golden as my local CU manager guy loved Speedsters and knew the value of the reproductions.  My loan would have been at 2% but he had to first check with his HQ.  The answer was no as there was no book value listed (I have a SE/Beck).

Todd told me about JJ Best (thanks again Todd) it worked for me.  I put a good chunk down and keep paying more on the prinicpal.  With tuition for my kids etc. this worked for me.

Too bad we can't get the Blue Book folks to list these is some way.

Maybe go to ebay and bring the listings to show some values.  Or pring the listings of Speedsters friom that place in Atlanta--they have almost 20 Speedsters listed on theit site.

(Atlanta Motor Sports?)

Blue Book isn't the only place where Values can be seen.

South atlanta motorsports.  It is where I bought my first speedster actually and who actually had to turn me on to JJ Best.