New Backdraft Owner

[Slick61]

Originally Posted by Zeke

...been wanting a Cobra since my teens. I am about 13 more payments until house is paid off then I will be taking out a new loan for my Backdraft Cobra. I guess I just wanted to hear what it was actually like to actually go through with it. One last question.... How about how the car performs? Was it everything you expected?

getting a loan on a Backdraft (or any replica) is typically a dicey proposition that you'd likely pay through the nose for. Most lending institutions won't touch a hand-built or special-construction type of vehicle- just like most auto insurance companies won't touch them. These are expensive toys, and are not typically purchased/driven/registered/insured like a normal production car. But if you can finagle it... knock yerself out...

[Hrdayz]

Originally Posted by Slick61

getting a loan on a Backdraft (or any replica) is typically a dicey proposition that you'd likely pay through the nose for. Most lending institutions won't touch a hand-built or special-construction type of vehicle- just like most auto insurance companies won't touch them. These are expensive toys, and are not typically purchased/driven/registered/insured like a normal production car. But if you can finagle it... knock yerself out...

I financed a portion (about 50%) of my purchase. What I found is that credit unions are easiest and since I have been banking with my institution for more than 25 years that established history help greatly. My experience was pretty painless and after providing the bank an appraisal of the vehicle and an insurance quote which established an agreed value , no problem. As far as insurance goes Midwest classic is the best I found. I tried shopping around but most others didn't come close as far as rates and flexible terms for use. Heck I occasionally drive my car 90 miles each way to work on a weekend. Try getting one of the major insurance companies to agree to that.