Loan

[truckinman466]

Can anyone recommend a bank or loan company that will loan money to finish my restoration?

[Filthy Filbert]

You don't need a loan. 

If a bank gave you money to finish, that money would just sit there because nobody has any parts available. 

[71383bee]

You could try JJ Best.  I have done a few muscle car loans from them.  Not sure about loans for project cars though.  They inspect the vehicle and ensure it runs and drives. 

For a personal loan I find a HELOC works great for that stuff.  Or some 401k programs allow loans. 

[truckinman466]

The car is basically done metal wise. The body shop is doing final body and paint.

[anlauto]

A home equity line of credit is the way to go if you can swing it 

[70 Top Banana]

Agree, get a home equity loan. You can write the interest off your taxes until you pay it off.

[cuda hunter]

I also take advantage of HELOK loans

[Mopsquad]

Some of those classic car loan companies have high rates.  I was surprised how much higher JJ was than Lightstream.

[71383bee]

True. But most lenders are very restrictive in providing loans for muscle cars I've found. 


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[mbyr416]

I totally get the struggle of finding the right bank or loan company for your restoration project. I was in a similar boat last year when I was fixing up my vintage camper. What really helped me was connecting with a Mortgage Advice Coventry. They had some great insights and pointed me in the right direction. If you're still on the hunt, I'd recommend giving them a shout. Also, I'm pretty new to this forum, so hey everyone! It's cool to be part of a community where we can share our experiences and help each other out. Good luck with your restoration!

[RUNCHARGER]

I've always paid as I went but sometimes I think I missed the boat and should have just gotten a loan for a complete car and been driving instead of wrenching. Ends up being the same in the end. Monthly payment rather than Visa bill for parts and gain 2 years of gear jamming without getting the shop dirty.

[7212Mopar]

If you can wait a little, there should be lower interest rates next year regardless what kind of loan you end up getting, assuming you still wants to take this route. The math does not work but every situation is different.

[dodj]

The math does not work but every situation is different.

Don't think the math works any way you do it. Ya just do it cuz you want to. 

[MoparLeo]

Credit Unions. Low rates, personal loans. Just say it is home improvement, not hobby related. They don't look at car poarts as good collateral.
 Do it anytime. If rates drop a lot, just redo the loan. All companies do that. That is what " Refi" means. Just normal business. Inflation eats up your money more than interest does.
And consider that, it does happen, people get hurt, get sick even die. Don't count on being here tomorrow ever. Today could always be your last day so don't put it off. You will find a way.