Finance

[Kshaw]

Has anyone got a loan to build and or purchase a finished Goblin? If so was it the same process for a normal loan/ vehicle loan?

 

[Joebob]

I would think it would be impossible to get a car load on a kit as there is no title yet or collateral for default. You could be able to get a loan on a titled and registered finished Goblin but would require an adjuster to asses value as there is nothing on the books.

Only way I see it is if you can get an unsecured personal loan but imagine that the rates are not very good on those.

Joe

 

[Dale E]

J. J. Best has done some financing on like already titled Lotus Seven type cars. They have it appraised by someone. I don't know what they do now or if they are still in business.

 

[Kshaw]

I would think it would be impossible to get a car load on a kit as there is no title yet or collateral for default. You could be able to get a loan on a titled and registered finished Goblin but would require an adjuster to asses value as there is nothing on the books.

Only way I see it is if you can get an unsecured personal loan but imagine that the rates are not very good on those.

Joe

Thanks for the input.

 

[Mattc3366]

Lightstream.com auto loan

 

[TheNuker]

I would say for a Kit your best bet would be a personal loan, I doubt anyone would give you an auto loan on it.

Nuker-

 

[Robinjo]

I would go talk to your bank about it, we can all speculate but they would have the answers for you.

 

[Mattc3366]

Light stream only asks if it’s new or used and from a dealer or private sale. It’s an un secured loan so they do not hold the title to the car and they’ve never asked what you bought afterwards.

 

[Jareth]

Hey, goblin’s are so much fun I would take out a 2nd mortgage if I had to.

.

 

[Tim09gxp]

You could also check if your job allows a 401k loan. With how outrageous interest rates are it may be your best bet. My job allows them and you pay yourself back 2% interest

 

[RCK605]

There's always the crippling credit card debt option!

 

[Vwsaabvt]

There's always the crippling credit card debt option!

nah, just get a credit card with a 0% intro for 21 months then when you get close open another card with a good intro rate and low balance transfer fee.