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Re: Auto Loans for classics

Subject: Re: Auto Loans for classics
Date: Mon, 2 Sep 2002 16:56:38 EDT
I believe that MBNA also makes loans on classic cars. Search for MBNA on the 
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, writes:

> Subj:  RE: Auto Loans for classics
>  Date:    9/2/02 12:20:02 PM Eastern Daylight Time
>  From: (Jerry Erbesfield)
>  Sender:
>  Reply-to:    <A HREF="";></A> (Jerry Erbesfield)
>  To: ('Kevin Smith'),
>  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:
>  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
>  website-
>  -----Original Message-----
>  From: [] On
>  Behalf Of Kevin Smith
>  Sent: Monday, September 02, 2002 3:48 AM
>  To:
>  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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