How to Get Classic Car Financing

Looking to finance a classic car? Daytona Mitsubishi is here to help! The requirements of acquiring a classic car are similar enough to get financing on a regular car loan. However, you may not be able to secure an auto loan in the same way due to age and mileage restrictions. Therefore, classic car loans are the best solution if you don’t want to purchase the car outright. Learn more about classic car financing with Daytona Mitsubishi near Port Orange!

Get Qualified for Classic Car Financing

Here are some qualifications necessary to finance a classic car:

• Credit history: You would need a good enough credit score backed with a well-established credit report that contains a diverse array of accounts such as credit cards, mortgages, etc.
• Steady income: You’ll have to prove that you have a stable source of income to prove you could pay back the loan.
• Payment history: If you have a history of paying your loans on time, this will greatly improve the likelihood of getting qualified.
• Savings account: If you have a savings account you can show that will help prove you are thoughtful with your money.
• Insurance coverage: As with traditional auto loans, you’ll need proof of auto insurance.

Vehicle Requirements and Restrictions

Now that you know what’s required of you to secure classic car financing, you will also have to consider getting your classic vehicle appraised, inspected, and checked for age and mileage restrictions. If you are looking to have your collector’s car inspected beforehand, schedule an appointment at a service center near Palm Coast!

Learn More About Classic Car Financing at Daytona Mitsubishi

Have lingering questions about getting classic car financing? Still want to delve more into how traditional car financing works or if it is worth it to trade in a financed vehicle? Contact us today, or visit us in person to check out our impressive inventory in person. We’re only a short drive from Palm Coast, and our finance specialists are always happy to help. Do you have questions about classic car financing? We can answer those, too!