Classic Car Financing Options

What are the common ways of financing a car purchase? For most car buyers, classic car financing involves applying for auto loans. There are several ways to finance a car. 

Your Automotive Financing Experts

At LaFontaine, we advise car buyers on all the car financing options. Our representatives understand different client needs for car and financing options. Rest assured, we match our clients with all the best financing options for their vintage car purchases. Once you have decided on the best financing options, reach out to us to help you process your car purchase. 

Types of Classic Car Financing Options

If you want to buy a classic car, below are the common financing methods we have compiled:

1). Hobby-Specific Financing (Classic Car Loans)

Hobby-specific financing is a relatively new alternative for individuals purchasing collectible or classic vehicles. The loan rep from the auto lender understands the classic car market owing to their experience. Interest rates for this type of classic car financing tend to be low with generous loan terms, thus keeping your monthly payments easy to manage. 

Getting the best auto loans to finance your car is overwhelming. This is due to the abundance of loan offers in the market with varying interest rates. A car loan is the most common classic car finance option when shopping for a vintage car in Milford, MI, or online. At LaFontaine Classic Cars, we accept loans for classic cars as a financing method, provided you meet the eligibility requirements and commit to cooperating. Interest rates are normally between 3% and 7% with terms lasting around 48-120 months. 

2). Personal Loan

Besides an auto lender, a financial institution/bank may extend you a personal loan. However, most personal loans are not usually sufficient to cover the cost of a car purchase, making them ideal if you are slightly short of the cash required to complete the deal. 

3). Home Equity Loans

Home equity loans have become widely popular, especially due to their low-interest rates. Even though they are typically tax-deductible, ensure you consult your tax advisor before considering it as a car financing option. 

4). Cash

All the above are options for financing your car purchase through cash. Rarely do car buyers walk in with full cash amounts ready to buy their cars.

How to Apply for An Auto Loan

For favorable auto loans, visit our direct credit application to see if you qualify for financing today. Our in-house financing department handles all approvals on loans for classic cars and makes your car buying experience easy and hassle-free. With LaFontaine, you are almost guaranteed to buy your car with the best low-interest rate on your car loan.

Why Choose LaFontaine Classic Cars?

As a leading classic car dealer, we work with you to ensure a smooth car buying process. We network with all major players, including client-centered financial institutions, to help you enjoy a smooth car purchase. Call or visit LaFontaine Classic Cars to advise on available car financing options.