I believe that MBNA also makes loans on classic cars. Search for MBNA on the
internet.
They always have a booth set up at Carlisle.........
Randy Kegg
In a message dated 9/2/02 12:20:02 PM Eastern Daylight Time,
jerbesfield@mindspring.com writes:
> Subj: RE: Auto Loans for classics
> Date: 9/2/02 12:20:02 PM Eastern Daylight Time
> From: jerbesfield@mindspring.com (Jerry Erbesfield)
> Sender: owner-mgs@autox.team.net
> Reply-to: <A HREF="mailto:jerbesfield@mindspring.com";>
jerbesfield@mindspring.com</A> (Jerry Erbesfield)
> To: ksmith40@earthlink.net ('Kevin Smith'), mgs@autox.team.net
>
> Yes. There are places to borrow money under decent circumstances for
> 30-40 year old classic cars.
>
> J. J. Best Banc & Company is one. Here's a link to their website:
> http://www.jjbest.com/
>
> Just click on the link. Self explanatory. All the details are there.
>
> No financial or other personal interest.
>
> Hope everybody is having a great Labor day holiday!
>
> -Jerry Erbesfield
> 73 B Black Beauty roadster
> jerbesfield@mindspring.com
> website- http://jerbesfield.home.mindspring.com
>
>
> -----Original Message-----
> From: owner-mgs@autox.team.net [mailto:owner-mgs@autox.team.net] On
> Behalf Of Kevin Smith
> Sent: Monday, September 02, 2002 3:48 AM
> To: mgs@autox.team.net
> Subject: Auto Loans for classics
>
>
> This is long, sorry for the novella.
>
> This weekend, instead of driving to Kansas City, we went to Little Rock
> to
> shop. Well, the wife did the shopping, I luckily checked the mail
> before
> we left and got an issue of British Car magazine, so I got to camp out
> in
> the vehicle.
> Well, Little Rock has a BMW dealership and I've been wanting to see a
> Mini
> Cooper for a good while, so we drove a while longer until we finally
> found
> the dealer. The salesman said they haven't gotten any Minis yet, and
> that
> the closest place to find one would be Memphis. He said that the Mini's
>
> prices are being jacked up by dealers because of popularity anyway, and
> that we should wait a while. Paying $26,000 for a compact car,
> regardless
> of who makes it, does seem a bit silly.
> Leaving there, we headed for a mall and stopped in a Volkswagen
> dealership.
> I've been wanting to drive a New Beetle for a good while also. I
> picked
> the Cadillac of Beetles. It had ALL the options, except for the turbo,
> and
> being dark blue, it looked slightly masculine. I really liked that car.
>
> My wife, who hates cars, loved it and wanted it (for me...). It was
> $21,500. They came down to $20,500 and we of course told them we would
> have to think about it. I called them the next day, offered $19,500 if
> they would throw in a CD changer for free, and they declined. Oh well.
> So
> I'm driving my old Toyota truck a little longer.
> This brings about the subject of this thread. I got to thinking on the
> drive home. For $20,000, I could have a lot of cars. An outstanding
> MGB,
> a decent MGA, or a REAL classic Mini sent over from the UK, easily
> come to
> mind. But, while I could imagine going to my local bank and asking for
> $20K and telling them it is for a 30 or 40 year old car, I couldn't
> imagine
> them handing me the check. Am I wrong about that? Are there
> institutions
> that loan money for classics as quickly as for new cars (other than the
> shady guys in pin-striped suits)? It's unfortunate really. People
> wonder
> why it's only older men (and women) you see driving classic cars.
> Perhaps
> that's because it takes so long to save up the dough to buy one.
> Meanwhile,
> the younger guy can easily go in debt to buy a new car, but not one
> that
> actually increases in value (or one he can actually work on).
>
> Kevin Smith
> '68 MGB Roadster (under restoration)
> '72 MGB Roadster (rust growth experiment)
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