Classic Car Financing

Are you interested in adding a classic car to your collection? Prior to shopping around Tinley Park looking for a spectacular vintage ride, you may be curious to know about how classic car financing and how classic car financing with bad credit works. While the requirements for classic car financing are fairly similar to regular car financing, you will need to secure a classic car loan due to the mileage and age restrictions of a classic car. At The Garage at Bettenhausen, you can choose to either purchase the car outright or through a car loan; our finance team can help you decide which is better. Explore the process of classic car financing below, then check out our classic car inventory! 

Classic Car Financing Credit Scores

When it comes to classic car financing, a main factor is the classic car financing credit score that is required for any Oak Forest driver and others. Since it is possible to get classic car financing, getting classic car financing with bad credit is not always possible. Here are a few more factors to consider: 

• Credit history: when you pull your credit report in Frankfort, a good credit score should reflect a good credit report which includes all of your accounts.
• Steady income: You will have to have proof of a steady source of income that shows you have enough money to repay your loan agreement. 
• Payment history: Potential Orland Park lenders will consider timely payments.
• Savings account: Before you apply for financing for a classic car, ensure you have a savings account set up.
• Insurance coverage: Any auto loan will require that you have proof of auto insurance. 

Vehicle Requirements & Restrictions

Now that you know that classic car financing credit score is required along with other documentation, there are a few more restrictions and requirements for purchasing a classic car:

• Vehicle appraisal: Use resources like NADA Guides to give you an idea of how much your vehicle’s current value is. Or, you can find a local expert appraiser who may charge you between $100 – $500.
• Age and mileage restrictions: Your vehicle may require a certain mileage and age limit.
• Vehicle inspection: You might need to be fully inspected for quality and safety. Schedule an appointment at our service center for an inspection. 

Learn More About Classic Car Financing at The Garage at Bettenhausen

Contact us at The Garage at Bettenhausen to begin the classic car financing process!