What's the best option for financing an "older" vehicle?

[99FiveOh]

A nice opportunity has presented itself on a vehicle that is now 8 years old. It has very low mileage and is well worth the asking price, but I'd need help to get it. I'm sure banks exist that lend on older vehicles.

I've looked around on the interweb a little and I found a couple companies, but as you all know trust is very sketchy on the net.

So, has anyone ever gotten financing on an older 'Stang from a bank? If so, how did you go about doing it?

 

[02 281 GT]

I financed my '95 Cobra for $6500 when I bought it. I used a federal credit union. I have a really good credit rating (752 when they did the inquiry), so getting the loan was no problem. I had to open an account with them before they would give me the loan, though. I'm military, so I still have my bank account back in Oklahoma and I don't really want to close it just yet.

 

[99FiveOh]

I built this 01 GT vert for a good friend of mine and he's wanting to sell it. It has like 60k miles on it, has an S trim kit with intercooler and is all tuned. It makes 400 safe, streetable, reliable HP and I would love to own it.

 

[revhead347]

That's a tough one. Go look for some collector vehicle financing. Most banks won't finance anything over 5 years old.

Kurt

 

[99FiveOh]

Yeah, I've decided the high interest of a "classic car loan" or personal loan from the bank is a deal breaker. Besides, I don't really want to let go of my pushrods regardless of how "Obsolete" they may be! lol

So since I love the new edge styling so much, I'm going to purchase a V6 version and swap in my drivetrain and all the associated wiring/running gear required to make it work. I just want something that looks more modern (not taking anything away from our cars, it just that mine is in bad shape body wise and it would cost me way more to restore the body on it than to just swap everything into another body)

 

[jd-hart]

I've used JJ Best with no issues....They send somebody to come and check out the car but if the seller is willing to work with you that isn't an issue.

 

[02 281 GT]

I just want something that looks more modern (not taking anything away from our cars, it just that mine is in bad shape body wise and it would cost me way more to restore the body on it than to just swap everything into another body)

Not to mention you'd be paying V-6 insurance on it.