How to Get Classic Car Financing

Man and Woman Signing Contract

Interested in adding a classic car to your collection? Already have your eye on one in the pre-owned inventory at Frontier Toyota? Before you can bring your vintage ride home to Palmdale, you first need to navigate the classic car financing process. This is largely similar to traditional financing, but there are specific car loans for classic cars. Explore your options for classic car financing at Frontier Toyota, and then apply for financing online before visiting us in Valencia!

Qualify for Classic Car Financing

When it comes to classic car financing, credit score is a crucial factor. Classic car financing with bad credit is more difficult and far less common than it is for new cars. Here are a few other things that will help you qualify for classic car financing:

  • Credit history: Not only do you need a competitive credit score, but your credit history should be lengthy and diverse, with credit cards, loans, and more.
  • Steady income: Proof of a current, stable income is needed to prove you can repay your loan.
  • Payment history: Potential lenders will pay attention to whether you have paid your bills and loans on time.
  • Savings account: Having an established savings account shows that you’re thoughtful with your money and that you’re not making an impulsive purchase.
  • Insurance coverage: As with traditional auto loans, you’ll need proof of auto insurance.

Vehicle Requirements and Restrictions

With a sense of what an ideal classic car financing credit score situation would be, let’s now move on to what is required of the vehicle you wish to purchase.

  • Vehicle appraisal: Before providing you with classic car financing, lenders may ask for an appraisal to determine the value of your prospective classic car. Sources like NADA Guides will give you an idea of what the vehicle is worth, or you can find an appraiser in the Lancaster area for an expert opinion.
  • Age and mileage restrictions: Some lenders have specific age and mileage limits for the vehicles they finance.

Learn More About Classic Car Financing at Frontier Toyota

Get in touch with Frontier Toyota if you have any lingering questions about classic car financing. Our finance specialists are happy to help!

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