Author: Robin Shortt

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How do you find a Financial Service that does loans for all
types of Classic, Antique, Muscle, Sports, Luxury, and Exotic
Automobiles.
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With the advent of the internet, classic auto loans
has become a lot easier for the classic auto enthusiast to find
a loan company to help in financing his purchase of a classic
car.

The difficulty of finding a lender is as easy as clicking
your mouse. Getting yourself a classic vehicle loan is that much
easier.

Not every agency offers a classic car loan. However, dealers
have reservations about the definition of the classic car model.
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The loan criteria are the same as in the case of a new car.
Approvals for car loans are very quick and simple even with bad
credit and as you will soon see there is hope even with
challenging credit issues.

One needs to understand the exact price being paid for the
vehicle ( financing entirely would be costly ) , the components
being a) the amount you decide to finance b) the cost of credit
borne by you which is called the classic car finance charge c)
the Annual Percentage Rate which is the main angle giving you a
pinch may be and the d)the total sales price (the summation of
the monthly payments with the down payment). When looking for
someone to finance your classic auto, take a look at specialty
lenders that deal in classic auto financing.
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Thus they will have
interest rates at a more reasonable rate than those of a regular
lender.

As well, they will have a better idea of what your car
is worth, this will help so you won’t need to provide a lot of
extra documentation to prove your classic car is worth the
amount you want to finance it for.

You could also benefit from
these lenders in the form of extra loan money for restoration as
well.
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There are other challenging situations which many people face
when trying to get a car loan such as self employment, short job
time, un-established credit, or being a first time buyer.

Even though bad credit car loans can help individuals with
derogatory credit there are also problems people encounter which
are not due to poor credit.

Bad credit car loans are available
for all automobile types nationwide and getting approved online
is the first step to purchasing a new or used vehicle.
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With banks approving financing of new cars, its likely their
interest rates on classic auto loans are going to be a bit
higher than those of a speciality lender.

You’ll also need to
bring in extra paperwork in order to prove that your car is
worth the amount that you’re borrowing.

The blue book value of a very old car is going to be next to
nothing, so you will be required to prove that either its
improvements or its restoration has raised the value of the car.
This will make your loan that much less of a risk having come in
well prepared.
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About the author:
Find out what Classic Auto
Trader
is all about and read more great articles at Auto Repair
Manual
as well.
[tags]classic cars, muscle cars, high performance cars, sports cars[/tags]