Is there a bank that will give a loan on a classic car without requiring an appraisal?

"Will banks finance a classic car if I intend to drive it everyday? I found a classic muscle car for sale for an incredible deal. I would have to finance it and would like to actually drive the car, so the appraisal based classic loans are not going to work for my situation."

Answer
“Some credit unions might, but it depends on the car and the amount.
USAA is one company that will finance classic cars.
Another option is to get a personal loan instead. The interest rate will be higher, but you’ll be able to get the car.
If possible, it is best to always pay cash for classic cars, but if you do have to finance, try and pay a sizeable down payment.”
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Johnny Puckett
Answered on Jul 28, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.
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