Because classic car loans are often larger
than regular car loans, longer repayment periods may be available from lenders to help reduce the monthly impact on your wallet.
Furthermore, classic car loans will typically require a good credit score and a higher down payment
than regular car loans while offering longer loan repayment periods.
What you should know is that Car dealerships charge higher interest rates
than regular car loan lenders.
Not exact matches
Buyers with reasonably good credit can qualify for that discount financing or pay considerably less
than average for a
regular car loan.
Chapter 13 also is only available to debtors with
regular income and subject to debt limitations — which, as of April 2016, were no more
than $ 394,725 in unsecured debt (debt not backed by collateral, such as credit card debt) and $ 1,184,200 in secured debt (like mortgages and
car loans).
You can raise your credit score by not only making
regular payments on any balances you have on credit cards,
car payments or other
loans, but by making more
than the minimum payments on the statements.
And no more
than 36 % of your gross income can be applied to your mortgage expenses plus your
regular debt expenses (
car payments, credit cards, other
loans, etc.).