Classic Car Loans

Classic car financing can be a challenge. Many times, local banks and regular financing sources want to treat classic and collector cars like any other "older" cars, charge the higher interest rate associated with older regular cars, and simply don't understand classic cars as assets. Fortunately, there are lenders who specialize in classic car loans and financing. Seeking out a specialty classic car financing company may be worth the effort.

As you search for your classic car loan, consider the following:

Does the lender charge an application fee?

If you are not familiar with the lender or it is not local, have you checked out references for it and is it legitimate? This is very important, since you will be providing personal information to get your classic car loan.

Is the finance rate variable or fixed?

What are the loan terms for the classic car loan?

Is there a prepayment penalty?

If you currently have your classic car loan at a regular lender, will a specialty lender refinance it?

What type of appraisal information, documentation, and other information does the lender need for financing?

Are there other loan fees?

With some research, hopefully you can find the loan you need to get your classic car!