Apply for Financing
Are you considering financing a classic car purchase? While most classic cars are reasonably priced, some can be costly, thus pushing for the need to find car financing options. When it comes to buying a vintage car, the next best alternatives to cash are leases and loans. However, not every classic car dealer allows vintage car finance options.
At LaFontaine Classic Cars, we are client-driven and strive to ensure you have options when paying for your car. Reach out to us to take your first step towards financing your dream vintage car or truck.
Why You Should Get Classic Car Financing
Below are reasons you should consider financing a classic car:
- It assists with cash flow. Even if you’ve shopped for the best vintage car and negotiated a fair deal, the purchase may still be overwhelming. This is why you should consider financing a classic car since it spreads out your payment and makes it possible to drive your car as you pay the remaining amount.
- You can build a strong credit record. Applying for a car loan and repaying it on time shows your reliability as a borrower. It is also a great way to establish a positive credit record. By having a strong credit record, you easily qualify for other financing types in the future.
- Interest rates for classic car loans are comparable to traditional auto loans. Additionally, extended terms are available for such specialty vehicles to help keep money in your pocket and lower your monthly payment.
Contact LaFontaine Classic Cars to help you discover your reasons for considering vintage car financing.
Who Should Consider Applying for Car Financing?
Financing a classic car purchase is recommended for individuals who want to purchase their dream vintage car and don’t have enough cash on hand or savings to pay for the car. If you are applying for a car loan, below are requirements that make you eligible for car financing:
- Strong credit. The credit score needed to qualify will depend on the auto lender you apply with. You are more likely to get approved with a minimum credit score of 670.
- Regular income. You need to prove that your income can support the monthly loan repayments. During the credit application, the lender may require you to show proof of income documents, including the W-2 form, most recent tax return, or most recent pay stub.
- Low Debt-to-Income ratio. Most lenders look for a DTI ratio below 43%.
- A reasonable down payment of around 15%-20% of the total cost.
- A favorable previous auto history.
How to Start Car Financing
Call or visit us to help fill out your credit application with the right auto lenders in the financing industry. We will also advise you on the most appropriate financing options for your vintage car purchase. Apply with us, and we’ll help you get your ride on the road.
How to Apply for Auto Financing with LaFontaine
Looking for classic car financing in Milford, MI? At LaFontaine, we work with you from the first step to the last, including your car financing. Our representatives have the requisite knowledge and experience in the classic car world.
Consequently, we also have a clear understanding of the various financing options available to our car buyers. Contact us to help you apply for car financing for your vintage car purchase in Milford, MI.
Why Car Buyers Choose LaFontaine Classic Cars
Besides selling and buying classic cars, LaFontaine also provides consultation services to potential car buyers and sellers. We liaise with our clients to help them apply for reasonable and affordable vintage car finance options. In addition, we can help you find the best auto lender to fund your car purchase. Call LaFontaine to discuss your car financing options.