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-   -   Has anyone obtained bank financing for a CJ, COPO or Drag Pa (https://classracer.com/classforum/showthread.php?t=55042)

Greg Hill 09-25-2014 03:46 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by Tony Curcio (Post 447434)
Does anyone have any direct experience obtaining a bank loan to finance the purchase of one the modern muscle cars with no VIN number, and no second mortgage on real estate?

What bank, in what state, what percentage of purchase price?

PM me here, or Tony@BrentwoodManagementCorp.com
All you gotta have is good credit, good income and a good financial statement. Shouldn't be any different than buying a 100k boat.

SSDiv6 09-25-2014 03:49 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by Greg Hill (Post 447468)
All you gotta have is good credit, good income and a good financial statement. Shouldn't be any different than buying a 100k boat.
Agree; you can add Quads, off-road bikes and airplanes! :)

Andys dad 09-25-2014 06:25 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by Greg Hill (Post 447468)
All you gotta have is good credit, good income and a good financial statement. Shouldn't be any different than buying a 100k boat.
It can and has been done - don't forget there is no rehab for drag racing addiction

Ron

Andrew Hill 09-25-2014 06:39 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by Andys dad (Post 447486)
no rehab for drag racing addiction

Ron
Sounds like a money making opportunity to me. Now I can finance that comp car...

... maybe I'm not the person to be running that rehab.

Dyno 09-25-2014 06:44 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
I just got an offer to buy a new 14 COPO, anyone have a spare $114,500.00 Dyno

Frank Castros 09-25-2014 07:49 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by Mike Pearson (Post 447450)
Probably a million bucks if you needed to buy one and have it installed.
My cousin Paulie will do it much cheaper than that.

Jeff Teuton 09-25-2014 08:22 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
It can be done. The number makes it identifiable and a UCC 1 filing and descriptions and any other documents. I helped a racer in another state do it. I financed my first race car. A 66 Coronet 426 that I bought for $1200 I didn't have. Brought the car to the bank, left the title, and paid long easy payments. Simple

HR9121 09-25-2014 09:41 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
I got a left hand i dont use that often, any offers?

Geerhead55 09-26-2014 12:39 AM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by Chris1529 (Post 447438)
If you have to borrow the money to buy one of these cars to race, you can't afford to have one of them.
Wow,,,,, someone who is qualified to speak about the financial status of another racer,,, or another person, in general. That's something I could never do,,,, figure its none of my business what another person purchases,,, but that's just me.
Danny Durham

Mack Reeves 09-26-2014 07:09 AM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by Geerhead55 (Post 447525)
Wow,,,,, someone who is qualified to speak about the financial status of another racer,,, or another person, in general. That's something I could never do,,,, figure its none of my business what another person purchases,,, but that's just me.
Danny Durham
I was thinking the same thing.......


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