vetteless in Modesto

Does anyone here on the Forum have a recommendation where to go for financing? Someone reputable and honest. Oh yeah...and good rates too, ha ha. Have spoken with Hagerty FInancial and J.J. Best Banc & Co. My credit union can't handle an out-of-state purchase because of the DMV paperwork, I was told, otherwise I'd use them.
Thanks so much to all. Feel like I'm getting closer on this thing. Hopefully won't be "Vetteless" for long...
-Steve

Mike Terry

If you are wanting to purches a mid year out of state and can not pay cash for it, I would get a second morgage on my house and use the money to buy the mid year. The rates will be better and intrest is also tax deductable. You don't need to tell the bank or who ever the you are buying a mid year car.
I only pay cash so I don't have to do that but if I did that is what I would do.

Jeff Garner

If you don't have cash, this is what I'd do. If you don't own a home or have equity, I don't know.

ratpack1968

Capital One.

Wilkinshc

Friend of my used Capital One. They overnighted the check and approval was in minutes. They will give you a list of things they need. If I remember right they need a copy of the title, seller drives license, and can not be family member. It was a mid vette.

Look here:

http://www.capitalone.com/autoloans/...ME_H1_02_G_AC1

Dannoman

Not sure if I understand why your credit union can't help you. I bought my 63 a couple of years ago from an out of state forum member. I went to my credit union and told them that I had a car lined up that I wanted to purchase pending my inspection of the vehicle. They asked for pictures of the vehicle and then cut me a cashiers check made out to the seller. If I didn't like what I saw, I simply would have returned the check....worked out fine. Getting a 2nd mortgage makes sense too. Alot of people seem taken aback that I would take out a loan for this type of purchase......but Jim Gessner said it best in an email I received from him during my 2 year search for a midyear when he told me "this ain't no dress rehearsal, buy the best you can afford"
Having just turned 46, Jim's advice has become my mantra.

Good Luck.

Danno

Pat Balch

I used State Farm Bank. The rates were good and they were a dream to deal with. Went through my SF agent and everything took only a few hours. The car was out of state and all they wanted was a copy of the title before they would issue the check.

TexSon

Who are you buying it from. Some of the classic Vette dealers provide funding.

mdz06vetter

Capital One - got preapproved for $100,000 before I bought my 1963

bweaver999

How I bought mine last year, got a line of credit on the house through my bank. Went to El Paso to look at the car, turns out the seller used the same bank as me, went to his branch, pulled out my ATM card. The bank plugged in his account and transferred the cash. Plastic money for a plastic car!!! Can't get better than that.

panchop

Capital One. rates where good, they did it in minutes without even having a car. just sent a blank check that i filled out to the previous owner when I found the car i wanted. Haven't had a problem with them at all.

jkuzzy

I used JJBest and was pre approved. I had to call them a lot, but overall I thought they were decent.

6T5C2

I second Capital One. They were very easy to deal with and overnighted me a blank check. Best rates too at the time.

pkgtaxcpa

I third Capital One. I have two classic vette ('71 & '64) loans with them. Supper easy, fast and competive rates.

Joel 67

Make it a 4th on CapitalOne. I have used them 2x for Corvette purchases and have found their rates to be VERY competitive and actually cheaper than home equity rates (granted it was not deductable, but having recently done a refi, I was not interested in doing another).

The approval process is almost immediate, you do not need to deal with a bunch of loan agents, they Fed Ex everything at no cost to you, honestly I cannot say enough good things about them.

If you have the credit they will give you whatever amount you ask for, regardless of condition, no appraisal needed. Try getting your credit union to loan you 30k for a project car . . .

For what it is worth, I considered JJ BEST and found them to be more expensive and difficult to deal with.

vetteless in Modesto

Thanks to all who took the time to reply regarding financing of Midyear Vette. Everyone's suggestions make sense. I'll give Capital One a call. Had been paying extra $ towards the principle on my house for years. Sure could use that cash now. Oh well, I have options and shall get it done one way or another. You guys are the best!
-Steve

BrettG

I've wondered how the banks will secure a lien on the vehicle, in NY & CT there are no titles for cars pre-1974??.

Wilkinshc

If your in a state with a title they will need the registration and a bill of sale, then they will issue you a title. At least that's how they do it here in New Mexico.

BrettG

I've wondered how the banks will secure a lien on the vehicle, in NY & CT there are no titles for cars pre-1974??.