[Rick Parker]

I don't want to oversimplify this but most lenders require that an auto loan be collateralized. There are rare exceptions, but they generally do not apply here. The collateral for an auto loan is the Vehicle Title itself, which is then held by the Bank or lender or in some states the title is stamped with 1st or 2nd lien assigned on the title itself. Understand that all kit cars do not have a title created or issued until they become a complete vehicle (assembled with engine, transmission, etc) and are then inspected by the proper authorities as needed, pass emissions testing (if required) and then subsequently licensed. Prior to that they a "just a collection of parts", regardless of the $$ spent on them, their quality or origin. Often from a lenders standpoint, if the proceeds of the loan are to be used for an incomplete kit car, it will (in most cases) be considered a high risk loan, even though it may be secured with alternative collateral (perhaps the title from another car, bonds or other real property) and in most cases carry a little higher intertest rate. If it is a completed car or one with an MSO such as a Superformance, Shelby CSX, or Kirkham that is finished barring final licensing, they can often be treated as a completed car with favorable interest rates.
Some lenders & specialty finance companies have lost their funding sources due to losses and the "Credit Crunch" so it is possible it could affect the availability of this type of loan.