Financing

[Keithc8]

I have floored most of the cost of building some cars for my customers over the years. They give me a good deposit, say about 1/4 to 1/3 the price of the complete car and then after the car is built and can be inspected by someone the bank sends out they then can get their loan and pay me. We give them a MSO from the car builder with a sale price and then a seperate ticket for the engine and install. I did this awhile back for a customer on a Superformance. We have done similiar on Kirkhams and Backdrafts.
I have very good bankers and I just floor the deal and try to get the complete job turned around in 4 weeks or so. This way I am not out much interest. Now if we had to waite on a car for a while it might be a little higher because our interest cost would be more. With rates where they are if you had to floor the complete build for say 3 months on a 60,000.00 car and you had 15,000.00 down it would cost me about 700.00 to do the deal this way. Not a big price to pay to get the car you want the way you want it. Once completed you get the MSO and a complete car so that you can get your loan.


Thanks, Keith Craft