morcus
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| posted on 14/12/09 at 09:29 PM |
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Finance on a kit car
I'm sorry if this is the wrong place but I wasn't quite sure were this should go.
My question is simple, can you get a loan secured against a kit as you might a tin top and do any manufacturers have the ability to help you set one
up like a garage can?
Basically I want to start next year and it's looking like it will invovle some kind of financing or more waiting (Or buying in peices and
spending the extra money that would have been intrest). Any Ideas?
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mr henderson
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| posted on 14/12/09 at 09:31 PM |
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I've never heard of a loan being secured on a kit, usualy way is to get a bank loan (And tell them it's for home improvements  )
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big-vee-twin
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| posted on 14/12/09 at 09:39 PM |
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I use interest free credit cards just got 16 months from Virgin
Duratec Engine is fitted, MS2 Extra V3 is assembled and tested, engine running, car now built. IVA passed 26/02/2016
http://www.triangleltd.com
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Toprivetguns
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| posted on 14/12/09 at 09:54 PM |
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Would you be interested in a MK Indy Spec R partially built with engine, fuel tank, Wilwood brakes ?
Only drive as fast as your angel can fly... !
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eznfrank
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| posted on 14/12/09 at 10:12 PM |
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I doubt any companies would do it, mainly because a kit car is essentially just a big pile of spare parts until it has a VIN, and even then the value
may well be less than the sum of the parts. The value is also very subjective and volatile.
I'm guessing someone like Caterham or Westfield might do their own finance packages but then that's hardly locost!!
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morcus
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| posted on 14/12/09 at 10:28 PM |
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Thanks for the offer Toprivetguns but I doubt your car would suit as I've a rather important requirement (An auto box) which would probably mean
swapping out stuff you've done and changing the mounts (I don't want to do any welding).
Thanks for the suggestions though.
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mangogrooveworkshop
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| posted on 15/12/09 at 01:13 PM |
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found this
http://www.caterham.co.uk/assets/html/showroom/finance.html
Caterham Finance can tailor a highly competitive packages to suit your specific financial needs. With many years experience with Caterhams we are
able to provide attractive financing that takes account of the Seven’s market-leading residual values.
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Bluemoon
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| posted on 15/12/09 at 01:28 PM |
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Personally I'd buy it in stages, finance will work out expensive (if you can get it and a bank loan/credit card are probably you only bet), the
extra you pay on interest could go into making a better car.. Buy the kit from a local company to save on delivery as you can pick stuff up as you
go.
I'd start by dismantling a Donner car and refurbish parts should see enough time to save up for a starter kit...
The quickest you could do a build is probably 6months (if you by all the parts) and work in the weekends. It took me years and so talking out a loan
would be a big no-no..
I think Mangogrooveworkshop has the best idea if you want to go this route but it's going to be £££££...
Dan
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02GF74
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| posted on 15/12/09 at 01:39 PM |
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if you haven't got the money now, what makes yo tink you will have it later on?
trust me, these things go on and on, consuming money that you did not think you would need to spend on them 
save up and then buy; loans are gonna cost you.
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