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Does anyone know of a bank that specializes in loans for antique/classic car loans? I know that sometime in the last year or so, I read about this in Super Chevy Magazine, but can't find it now.

I have a friend who is in need of this service as his personal bank won't loan money on a car of 30 + years. Only about $10,000 dollars too.

any help appreciated.

Mike


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Check Hemmings Motor News.

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Leo Paugh
Maryland Chevelle Club #017
Those who do the world's real work don't usually wear ties.
 

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When I bought the 70 conv last year, I got an equity loan on my house (if you own your home and have an equity, this is excellent). As a result, the lien is on the house and not on the car.

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Tom Parsons
 

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if you're a member of a credit union, try them... I paid cash for my el camino but I borrowed some money from my dad, and I got a loan against the car to pay him back...

However, I am also approved for about $9K (the amount I requested) on a car loan.. They will loan on anything in a blue book (my credit union) and you have to look in the classic car kelley blue book..

... even though they will only loan you either the poor or good dollar amount, (theres poor, good, and excellent)-- the values are very high.. a '70 SS 396 4-spd in good condition is listed as about 8 or 9 thousand (i forget but have the fax in my email box)

anyways, its a thought.

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Mike Reeh
Gold #34
San Diego, CA
 
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