First Community Credit Union Auto Loan Rates – * APR = annual percentage rate. Car loan payments are $45,000 over 84 months at 7.24% APR = $685, and 5.99% APR over 36 months for a 15-month loan = $457.
Other terms up to 96 months. A 96-month rate for classes 1, 2 and 3 available on new or later model years with less than 5,000 miles and a minimum of $40,000. The minimum loan amount is $10,000 over 60 months. Restrictions may apply to certain model years, please contact First City. Rate increased by 0.25% over 100,000 miles. Existing First City loans do not have financing options. Cannot be used in conjunction with any other promotion. Prices and plans are subject to change. Other terms and conditions may apply.
First Community Credit Union Auto Loan Rates
* APR = annual percentage rate. Example of an estimated loan payment: $100,000 loan over 84 months at 7.25% APR = $1,522; 75-month loan at 9.25% APR = $961 over 120 months.
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Example of an estimated loan payment: $10,000 loan over 48 months at 6.75% APR = $239; A $30,000 loan over 60 months at 7.00% APR = $595.
$1,500 secured deposit loan at 1.53% APR = $127 over 12 months; A $1,500 secured loan over 12 months at 1.90% APR = $127.
The minimum loan amount is $1,500. The maximum loan amount cannot exceed 90% of the approved balance, or 100% of the available stock balance. Affiliate Content: This content is created by Dow Jones Business Partners and is independent of the newsroom. Links in this article may earn us a commission. Learn more
You’ll find the best classic car loans at J.J. Best Banc & Co, Woodside Credit, Digital Federal Credit Union and DuPage Credit Union
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Author: Daniel Robinson By: Daniel Robinson Author Daniel is a team writer specializing in car financing and car maintenance, writing for several automotive news sites and dealerships in the US, UK and Australia. The Daniel Team’s authority on car insurance, loans, warranty options, car servicing and more.
Editor: Rishon Michner Editor: Rishon Michner Managing Editor Rishon Michner is an editorial team editor with more than 10 years of experience in financial and personal insurance issues.
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Members Choice Credit Union
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All APR information was last updated on 14 July 2023 – see the partner website for the latest details. Interest rates may vary based on credit score, credit history and loan term.
If you are interested in financing a classic, antique or collector car, there are many specialist lenders who can match your trade. In this article, we’ll discuss the best classic car loan providers in Coach and examine the process of obtaining such a loan. If you want to expand your search to traditional lenders, we’ve also reviewed and ranked the companies with the best car loan rates.
Our team of guides is committed to providing reliable information to help you make the best decision when it comes to car financing. Because consumers trust us to provide objective and accurate information, we’ve created a comprehensive rating system to compile our rankings of the best car loan companies. We collect data from dozens of lenders and rate these companies based on a variety of evaluation factors. After 300 hours of research, the final result is an overall ranking of suppliers, with the highest-scoring company at the top.
Access Community Credit Union
Our team of experts J.J. Best Banc & Co. found Woodside Credit, Digital Federal Credit Union and DuPage Credit Union to be the lowest-rate classic car loan providers. Although classic, antique, or collector car loans typically don’t require a minimum credit rating, an excellent credit score and long credit history will get you the best interest rates from these lenders.
J.J. Best was a classic car collector long before his company offered low-interest loans on famous cars. J.J. Best Banc & Co. is now one of the largest classic car financing companies in the United States, offering long-term loans up to $2 million. This lender offers pre-qualification and same-day approval to qualified borrowers.
Qualify for a classic car, hot rod, muscle car or exotic sports car. Ideally, you’ll want to have excellent credit, a strong history, a good debt-to-income (DTI) ratio, and verifiable income. Additionally, lenders require you to put at least 10% down on the car you want to buy.
Woodside Credit has the most flexible financing options of any auto lender. The company offers up to $1 million in classic cars for up to 180 months. In addition to classic cars that are at least 25 years old, Woodside offers financing for the latest exotics. Woodside Credit’s loan program also includes special and collector cars such as Porsche 911s, Cobra Replicas and Dodge Vipers.
Auto Loan Rates In Az
Woodside Credit works with Barrett-Jackson Auctions, thousands of dealers nationwide, and many private parties. You can buy a classic car with a pre-approved car loan through Woodside Credit. For vehicles that require an appraisal for sale purposes, Woodside allows a virtual inspection via mobile app.
As of press time, Woodside offers the following payment examples on its website, each with a 20% down payment:
Digital Federal Credit Union (DCU) offers competitive auto loan rates on antique, used and used cars. Buyers with good credit can get a classic car loan through DCU, with an annual interest rate of 8.24%. On an 84-month loan, the APR rises to 10.74%. The most qualified borrowers can borrow up to 90% of the car’s appraised value for up to 10 years. DCU has an easy-to-use car loan calculator on its website to help you understand your options.
Certain tiers of Commonwealth Digital members also get a 0.5% APR discount on classic car loans. A disadvantage of DCU is that membership is only open to people who live and work in certain areas or are related to existing members.
Ohio Valley Community Federal Credit Union
DuPage Credit Union offers the lowest interest rates on classic cars. The only catch is that membership is only open to residents of seven countries. However, if you live in one of these states, DuPage is a great option for financing a classic car under $150,000. Lenders offer interest rates similar to new cars on exotic cars for up to 84 months. DuPage has no prepayment penalties, so you can pay off your car loan early.
A great thing about DuPage financing is that the credit union offers auto insurance discounts through partnerships with Travelers.
Classic cars are generally classified as cars that are 45 years old or older. Some lenders will lend on vintage cars that are over 100 years old. Other examples include 1930s Ford coupes, 1950s American muscle cars, and a number of exotic sports cars made by Maserati, Alfa Romeo, and Porsche. Under Classic Cars.
Series cars like the Shelby Cobra are also considered classic cars by most lenders. These cars are customized and car insurance is expensive. This makes the special insurance deals offered by some lenders particularly attractive.
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The process of getting a classic car loan is different from financing a conventional car loan. The steps are similar, except for finding the right dealers and suppliers who specialize in vintage, exotic or collector car loans. This is the basic process:
Knowing your credit score will help you better understand the annual interest rate you can expect on a classic car loan. Most lenders require a score of around 800 to get the best interest rate. If the interest rate you’re currently charging seems too high for you, you can improve your credit score before moving on.
Some credit scoring models treat multiple car loan applications within a short period of time (usually 14 days) as one application. This means that loan amounts and interest rates from multiple lenders can be easily compared. Even if you are looking for a classic car loan due to bad credit, there are providers who can help you.
Many classic car lenders require a 10% to 20% down payment. If you can afford a larger down payment, you can lower the amount of interest you pay over the life of the loan and reduce your regular loan payments.
First Northern Credit Union
For some classic cars, especially vintage cars, you may need classic car insurance. Traditional car coverage doesn’t take into account the true value of a classic car
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