back to articles

Publish Date - December 31, 2018

Author: Dale Peterson

Categories:   Types of Car Loans   

Classic Car Loans

Classic Cars and Auto Loans

Classic cars, also known as antique cars, hot rods, lead sleds, roadsters, muscle cars and rare factory original cars, are gaining in popularity. A classic car fan usually buys a classic car with their heart rather than their pocketbook. Buying a classic car doesn't mean draining your savings. Classic car loans are readily obtainable.

Clasic Car Loans: Learn the Car's History

When you decide on the model and make of a classic car, make sure your know the car's history too. This step will assist you in getting a classic car loan. The age of a classic car impacts your loan. When buying a classic car, ask questions: Is the previous owner of the classic car the original owner? Is the original service history paperwork available? Is it a salvaged classic car? Has the car ever been involved in a wreck? After asking questions about the exterior, investigate a classic car's interior.

Apply for a Classic Car Loan

Once you establish the value of your dream car, apply for a classic car loan. This should be fairly easy given your thorough research. With classic car loans, as with any car loan, dealing with auto lenders means dealing with your credit history. Checking your credit report before applying for a classic car loan is a good idea and often eliminates disappointment down the road. If your credit history is questionable, consider applying for a loan prior to finding your classic car, or in other words, get pre-approved for a classic car loan to prevent headaches "down the road".