What is the standard loan length for a classic car?
How long are the loan periods for a classic car? Does it vary based on the amount of your loan? I want to finance a 1977 Dodge Charger.
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Answered on Jul 14, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
“If you choose to finance your 1977 Dodge Charger, you will need to find a lender that specializes in classic car financing.
Once you do that and are approved, they will provide you with the terms and conditions of your loan.
The length of your loan period will depend on a variety of factors, including:
- how much you are financing the vehicle for
- your down payment amount
Classic car financing periods tend to be longer than traditional car loans, but you’ll likely have an option to select a longer or shorter loan period.
Before signing a loan agreement, you’ll want to review all the details with your lender. The loan agreement will contain all of the relevant information you need.
It will list the length of your loan term and any special requirements, like carrying classic car insurance on the vehicle.”
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