Club Cobra - BDR financing

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I was wondering if someone had any advice regarding financing.
I keep running into roadblocks, aside from the typical 2nd mortgage or home equity line. I'd prefer to keep real estate as an investment vehicle. Over the summer I visited the shop in Ft. laud, met reg and went for a ride. In november I went to reptile roundup. I have narrowed my choice to a backdraft car. The only source I've found on the web is Premier Financial services. In the middle of working out the numbers they balked and said they can't do these cars do to title problems even though they specialize in highend and specialty cars. They even sounded confused about there own rule. Has anyone at BDR looked into this? Any advice anyone...Boudy?

Hi there,

There are a few banks that will do it. The first one the does handle specialty cars is JJBest.com .You can find them on the web and they have an application form online. They do require a deposit from the customer. The last I heard a customer with good credit will be paying in the region of 7%.

If this is not an option you want to pursue ,give me a call and I will see if there is anything else I can suggest.

Regards Reg
www.Backdraftracing.com
561-752 3693

Hi Reg, thanks for the info. I'll start with your suggestion and see what I come up with. Hey remember me? The bald airline guy that keeps showing up with no car, the no car part has to change!
Mike

PeopleFirst.com has also financed our cars.

Boudy

I have been looking into financing a BDR for months now...

My local loan officer (small town rural Oklahoma) considers it an "Exotic," and had to present it to his bank's board of directors. They didn't know quite what to make of it. It ain't a John Deere tractor! (which costs more than a BDR, BTW!)

My credit is a glacier, slow but unstoppable. They offered me 100 percent financing at 12.5 percent.

My response? double-bite me.

Fifty percent down on the loan? 9.5 percent.

Double-bite me again.

JJBest and PeopleFirst basically blew me off, I have big assets and little income. They can Pi$$ up a wet rope.

God has blessed me...

If I can ever get some seat time in our climate, I can cut Boudy a check for BDR #139.

My girl in college can get a second job, she can drive the BDR at her graduation next year. For about 15 minutes.

Insurance... a big consideration to me...

Farmers Insurance is good with a garaged pleasure car, less than 7,000 miles a year, drivers are only household members.

They especially like the "loss payee" being UT rather than a lender.

I'm sure I have been of no help at all.

I will probably continue that tradition.

UT

this might sound dumb, but if no one will finance , use a credit card with 0% interest. When the interest kicks in transfer you card to a new one without interest. Ive done it plenty of times and saved money on interest. Your initial payment might be steepbut as you pay , your monthlyminimun will go down. Remember theres no interest so it wont take 50years to pay off the credit card.

i went with 50% down and 7% interest on the balance from benefit bank. They didnt need 50% down but I wanted to avoid all interests and big payments I could. I can give you the info if you like..I didnt have perfect credit or huge income either.