Quote:
Originally Posted by 1985 CCX
Sweet car however registration could be an issue, insurance issues and also banking issues.
|
Jeff-
Registration issues: Possibly, depending on what state the buyer may want to re-locate the car too (do all the diligence regarding laws, policies and procedures in your home state, up front, for sure)
Insurance issues: I can't imagine. I've purchased agreed-value policies (from Hagerty, among others) on vehicles that had a much sketchier history than this one has had. Getting a legally compliant policy written on this car might take a little extra research, and a few extra phone calls, but it's doable
Banking issues: Agree- Financing this purchase, and using the car as collateral, would probably necessitate going through one of the vintage/collector/boat and auto, venture capital based lenders; which will mean a higher interest rate, but may also offer the flexibility of a longer loan term (some of these smaller specialty lenders will write a 10 year note on some older/specialty cars.) - Again, some extra shopping around, and a few extra phone calls may be required.
There is also the possibility of collateralizing the loan using a HELOC, or some other creative financing.
All good points, for sure; and +1 on Ted's honesty in representing the car as nothing more than what it is- That should inspire confidence, not fear, among prospective buyers.
31Likes
Threaded Mode
