Has anyone obtained bank financing for a CJ, COPO or Drag Pa

jmcarter · 09-26-2014, 11:00 AM

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

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

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

Quote:

Originally Posted by FECARMAN

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

Mike Gray · 09-26-2014, 05:49 PM

Quote:

Originally Posted by Sam M

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

Quote:

Originally Posted by Mike Gray

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

Mike Gray · 09-26-2014, 06:54 PM

maybe if it was painted pink and I let her drive.....

Frank Castros · 09-26-2014, 07:06 PM

The last time I walked around the sportsman pits, I was humbled, and the thread regarding open trailers and 1/2 ton pick ups makes great sense to me.

If I would ever to race again it would be a one day event, not a three day divisional, and never a NHRA national, other than Indy.

ken robinson · 09-27-2014, 09:55 AM

The part about no vin # the car must come with some paper work ? The interrest rates and the insurance payments intil its payed off , are greater than biulting a clone Tony . Its just a time vs money thing . See you at the track .

09-26-2014, 11:00 AM	#1
jmcarter VIP Member Join Date: Dec 2008 Location: Richmond Hill GA (and Port Ludlow WA) Posts: 4,308 Likes: 2,419 Liked 3,227 Times in 981 Posts	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. __________________ Jim Carter 2340 Super Stock 2340 SST/2340 Stock Set another place at the table

09-26-2014, 11:46 AM	#2
lstanford Member Join Date: Mar 2006 Location: Michigan Posts: 312 Likes: 1 Liked 134 Times in 32 Posts	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.

09-26-2014, 12:29 PM	#3
Jeff Teuton VIP Member Join Date: Jan 2002 Location: Houma, LA Posts: 2,717 Likes: 2 Liked 325 Times in 50 Posts	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. __________________ Jeff Teuton 4022 STK

09-26-2014, 06:54 PM	#7
Mike Gray Senior Member Join Date: Oct 2006 Posts: 627 Likes: 317 Liked 704 Times in 203 Posts	Re: Has anyone obtained bank financing for a CJ, COPO or Dra maybe if it was painted pink and I let her drive..... Attached Thumbnails

09-26-2014, 07:06 PM	#8
Frank Castros VIP Member Join Date: Nov 2001 Location: The Lowcountry. Posts: 3,002 Likes: 2,654 Liked 2,752 Times in 973 Posts	Re: Has anyone obtained bank financing for a CJ, COPO or Dra The last time I walked around the sportsman pits, I was humbled, and the thread regarding open trailers and 1/2 ton pick ups makes great sense to me. If I would ever to race again it would be a one day event, not a three day divisional, and never a NHRA national, other than Indy.

09-27-2014, 09:55 AM	#9
ken robinson Member Join Date: Dec 2001 Location: tomsriver nj Posts: 479 Likes: 74 Liked 224 Times in 87 Posts	Re: Has anyone obtained bank financing for a CJ, COPO or Dra The part about no vin # the car must come with some paper work ? The interrest rates and the insurance payments intil its payed off , are greater than biulting a clone Tony . Its just a time vs money thing . See you at the track .