Car finance for older cars.

Car finance for older cars.

Author
Discussion

jtopps

Original Poster:

154 posts

153 months

Tuesday 14th October 2014
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So a friend of mine is putting a rather gorgeous car up for sale that I have coveted massively. I want it desperately but I don't have the time to save up what I need for it. I'm earning decent money at my job so I'll be able to afford the repayments but every company I come across that does used car finance stipulates that the car is with something like 5 years old and within a certain mileage and blah blah blah. I'm also not sure about what my bank would say about lending the money to me for a 23 year old 300bhp car but I don't think they'd be over keen. Does anyone know of a company that exists which won't totally rob me and will be okay with a car like this? I need 8K for what it's worth and I have good reason to believe the car should go up in value over time as I have been watching the classifieds for a while (another reason I'd like to buy one now before they become gold dust). Thanks in advance for any help you can offer.

Sharted

2,615 posts

142 months

Tuesday 14th October 2014
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Just get a bank loan, they won't be too interested in what car it is.

Pyrolysis

319 posts

116 months

Tuesday 14th October 2014
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I'm trying to guess the car lol. Is it an M5?

Sarnie

8,025 posts

208 months

Tuesday 14th October 2014
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Skyline?

MitchT

15,787 posts

208 months

Tuesday 14th October 2014
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Just get a personal loan. If you did have to move the car on for some reason it'd be a pain if the loan was tied to it.

jtopps

Original Poster:

154 posts

153 months

Tuesday 14th October 2014
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Fair enough I'll give it a go. It's a jap import Fairlady Z Twin Turbo Manual (The Holy grail of Z32's) with a Strosek wide body kit. It is totally immaculate and well worth the money. I am a massive Jap car fan, I may have to get an R32 Skyline GT-R at some point in the future too as those are flying up in value. I'd probably get one of those first if it weren't for the fact my friend is selling his car now and his is the nicest Z32 I have ever seen.

Pyrolysis

319 posts

116 months

Tuesday 14th October 2014
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st lol, I was going to say 300zx but didn't think they were anywhere near 8k lol. Hope you get your hands on it then smile

jtopps

Original Poster:

154 posts

153 months

Tuesday 14th October 2014
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The number plate even says GIMP! tongue out







Pyrolysis

319 posts

116 months

Tuesday 14th October 2014
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Wow! I'm not really into the jap scene but that looks pretty awesome. The kit is aggressive but tasteful, not garish or tacky as most body kits look.

jtopps

Original Poster:

154 posts

153 months

Tuesday 14th October 2014
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Yeah and my friend is totally OCD it is every bit as immaculate as it looks

rfoster

1,482 posts

253 months

Wednesday 15th October 2014
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I work in car finance and to be frank you'd be better off with a personal loan; while we regularly finance older and classic cars, the car finance companies would struggle to get their heads around a valuation on such a (relatively) rare car in the UK.

chibbard

1,554 posts

259 months

Wednesday 15th October 2014
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That car looks really nice. It's a whole lot nicer than what I imagined it would be. Personal loan all the way in my opinion !!

BrabusMog

20,082 posts

185 months

Wednesday 15th October 2014
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I'm not a fan of jap stuff or modified cats but that looks awesome! If you can easily afford the loan then I hope you get it OP, better getting that as opposed to a run of the mill GTi or ST.

chevy-stu

5,392 posts

227 months

Wednesday 15th October 2014
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Personal loan.. you'll probably get a better interest rate anyway than a specific car loan..

boobles

15,241 posts

214 months

Wednesday 15th October 2014
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I got my last car through "close" car finance. Re-payments were pretty good & not that much interest on a 6k car.

zedstar

1,735 posts

175 months

Thursday 16th October 2014
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Wasn't this for for sale on Ebay a while back? I remembered it as I thought i had read about the car many years ago in Max Power, IIRC that one was auto - something to do with the owner having had a motorcycle accident?

Anyway back on topic, personal loan all the way - lovely car too!

onomatopoeia

3,469 posts

216 months

Thursday 16th October 2014
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Given that my bank rang me yesterday to ask if I wanted to borrow money (and I thought there was a credit squeeze!) and offered me a personal loan at 4.9%, the suggestions to use a personal loan seem good.


chevy-stu

5,392 posts

227 months

Friday 17th October 2014
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I do like the look of that Nissan...

Foppo

2,344 posts

123 months

Friday 17th October 2014
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That is a nice car I have one.>smile

jtopps

Original Poster:

154 posts

153 months

Sunday 19th October 2014
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zedstar said:
Wasn't this for for sale on Ebay a while back? I remembered it as I thought i had read about the car many years ago in Max Power, IIRC that one was auto - something to do with the owner having had a motorcycle accident?

Anyway back on topic, personal loan all the way - lovely car too!
It is an auto for now yeah. My friend who owns it bought it a few months ago. He seems to have come into some money and is using it to just tick off his bucket list of cars. Since buying it he's resprayed all the stone chips and bought a manual gearbox which he will fit before I buy it. I've wanted one of these since I was a kid because my dad bought me a matchbox toy of one. At that tender age I didn't really know what Nissan was and automatically assumed all cool looking fast cars were Ferraris haha.