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Topic: restoration loans

in Forum: C3 General Discussion


restoration loans

Posted: 2/11/06 8:44pm Message 1 of 8
Former Member
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dallas, TX - USA
Joined: 1/30/2006
Posts: 1
Vette(s): 71 vette
I just bought my '71 and it needs around 15k to finish it off, does anyone know if anyone out there does restoration loans?, Thanks in advance, K


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restoration loans

Posted: 2/12/06 1:12am Message 2 of 8
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Former Member
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North Hills, CA - USA
Joined: 6/12/2003
Posts: 515
Vette(s): 1972 T-Top

   Usually a rich uncle or other relative.....Actually there are placed that advertise classic car loans....but this is usually for a completed car....check maybe Hemmings?

     Freind of mine's parents loaned me 3 grand to buy mine back in 1986. They can't believe I still have the car ( except on those early Sat or Sun mornings when I fire it up to leave for a show with the ever-so-quiet chambered exhaust, they live acros the street). Got any good friends? put them on the title as the lein holder....Thats what I did.......

                                          Reid  '72 T-top

   





    Reid    '72 T-top

www.wildbunchcarclub.com

www.vannuyscruisingassociation.com


restoration loans

Posted: 2/12/06 9:05am Message 3 of 8
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Braselton, GA - USA
Joined: 11/29/2005
Posts: 47
Vette(s): 1968 convertible 427/390 British Green w/saddle interior and soft top.4 spd no air. It has just been mechanically restored from the tires up, and I'm working on the cosmetics.

Capitol One does not do an actual Restoration loan, but you can structure it to be one. They do old car loans based only on your financial capability. I'm thinking about doing the same thing because I have so much cash into my resto and would like to complete it in a timely fashion. They were really easy to work with on the purchase of my '68.




restoration loans

Posted: 2/21/06 5:00pm Message 4 of 8
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Syracuse, NY - USA
Joined: 8/1/2003
Posts: 693
Vette(s): ...
do you belong to a credit union? you can get a personal loan for any reason at  usually under the going interest rates.


restoration loans

Posted: 2/21/06 5:02pm Message 5 of 8
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Savannah, GA - USA
Joined: 1/20/2005
Posts: 936
Vette(s): 1982CE,32,000 and counting. (fast!!) 1981 Vette, black on black. ZZ4 (quick!!)
I got an unsecured loan from my bank.Also look into a personal line of credit.


restoration loans

Posted: 2/22/06 12:27pm Message 6 of 8
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CHARLOTTE, NC - USA
Joined: 6/18/2003
Posts: 394
Vette(s): 1974 Stingray coupe; 2nd-Year One crate engine 408/408 2000 DBGM C5 coupe: Stock
If you have a life insurance policy you may be able to borrow against that.


restoration loans

Posted: 2/22/06 3:03pm Message 7 of 8
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Manteca, CA - USA
Joined: 11/20/2005
Posts: 3623
Vette(s): 1978,two tone,Metalic Rootbeer & gold 1975 L48 4 speed

I took a part time job. Well, it's my own little business i started out of my garage, but it keeps me home after work and provides parts money ( and beer).Now if I could only find the time to work on the corvettes,( also financed by my second job).It's a hard life, but worth it once I get behind the wheel. Can't wait 'til I get my pictures posted.Good luck buddy, we all share your excitement and enthusiasm.

                     Jimmy B.

aceinthehole4938770.6293865741


restoration loans

Posted: 2/24/06 9:15am Message 8 of 8
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WEST SENECA, NY - USA
Joined: 12/3/2001
Posts: 2381
Vette(s): 1981 Blue Ice Met. w/pearl ghost flames TKO500 5speed. LS1 Swap 3.45 Dana 44.

Or if you have a house, you may be able to do a home equity loan. This way you can write off some of the interest each year at tax time.

 I don't know about the rules in your area. But here after 3 yrs. and a day you can make extra payments to pay it off quicker. If you do make extra payments before 3 yrs. and a day, you get whacked with different fees and such.

Sarge





GEN III 5.7L "LS6" Engine swap
TKO500 5 spd.

3.54 Dana 44
'69 "N11" Sidepipes
Borgeson Steering Box
Born 8/1981
Sequence #3975




Click here to see more pics of my Vette on CarDomain.


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in Forum: C3 General Discussion


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