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

Frank Castros 09-26-2014 08:32 AM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
If anyone thinks all those Toterhomes and Stackers where paid with cash is kidding themselves.
Why would financing DP, CJ or COPO be any different?

HR9121 09-26-2014 08:40 AM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by Frank Castros (Post 447531)
If anyone thinks all those Toterhomes and Stackers where paid with cash is kidding themselves.
Why would financing DP, CJ or COPO be any different?
Exactly what i was thinking.

jmcarter 09-26-2014 11:00 AM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Mack, you guys are right...I'm deleting my earlier post because it didn't assist Tony in what he was looking for. Part of my bias is based on my years doing some road racing events where the adage "don't race what you can't walk away from" is generally more accepted, especially given the higher probability of sustaining damage at the track.

Apologize Tony, hope somebody has put you onto an attractive financing option that fits your racing goals.

lstanford 09-26-2014 11:46 AM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
This would fall under the heading of a personal unsecured loan unless you pledge real estate or some other asset. You better have a credit score in the high 700 or 800 range. You will probably not like the interest rate. Prior to the 2008 credit crisis anyone could finance a dream.

Jeff Teuton 09-26-2014 12:29 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
We have financed race cars since the late 60's. Just need the right conditions and persons. Not complicated.

Sam M 09-26-2014 04:16 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by FECARMAN (Post 447568)
This would fall under the heading of a personal unsecured loan unless you pledge real estate or some other asset. You better have a credit score in the high 700 or 800 range. You will probably not like the interest rate. Prior to the 2008 credit crisis anyone could finance a dream.
2.4 % on a Personal Credit Line Loan

Geerhead55 09-26-2014 04:54 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by Frank Castros (Post 447531)
If anyone thinks all those Toterhomes and Stackers where paid with cash is kidding themselves.
Why would financing DP, CJ or COPO be any different?
I agree with you %100.
Danny Durham

Bruce Noland 09-26-2014 05:39 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by Frank Castros (Post 447531)
If anyone thinks all those Toterhomes and Stackers where paid with cash is kidding themselves.
Why would financing DP, CJ or COPO be any different?
Insurance. You're not racing the other vehicles. I would hate to see the terms and conditions on financing a $114,500.00 race car.

Mike Gray 09-26-2014 05:49 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by Sam M (Post 447587)
2.4 % on a Personal Credit Line Loan
Oh man, I can see the conversation now. "Honey would you mind signing on this line of credit I need"? WHAM! That would be the last thing out of my mouth before I woke up in the hospital. LOL

Sam M 09-26-2014 06:32 PM
Re: Has anyone obtained bank financing for a CJ, COPO or Dra
 
Quote:
Originally Posted by Mike Gray (Post 447602)
Oh man, I can see the conversation now. "Honey would you mind signing on this line of credit I need"? WHAM! That would be the last thing out of my mouth before I woke up in the hospital. LOL
Well Mike, first I would need to find one with that good of a credit rating :)


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