barneys964

Does anyone have a suggestion for a loan source for about $10K for repairs on my 1990 C4 cab? USA

fnckr

Credit cards, home equity, sell stuff, barter, sell yourself, sell it...

lizSter

depending on your credit history, you could get an unsecured personal loan at your bank or credit union. Or use the c4 as collateral.

BlueHeeler

I would stay away from credit cards, evil things they are. As suggested above, selling things is the best route because you are not accumulating interest accruing debt.

Do you own a home? You can probably talk to the bank that owns your mortgage and get a low interest loan based on the equity you have in the house.

Personal loans without collateral are not great because the interest rate is high, but you could try a site like lendingtree.com. You may consider listing the 964 as collateral if you own it outright.

This is all assuming you have the positive monthly cash flow to afford loan payments. You do not want to lose your house and car over 10K.
Tough to say, but a 20 year old Porsche is not a great vehicle if you are on a tight budget. Maybe now is not the right time to try and maintain a money pit.

jimq

if it need that much work cut your losses and sell it.

zunix

I'd suggest Prosper, a peer-to-peer lending outfit. You should be able to pick up a rate lower than a conventional personal loan, and certainly lower than a credit card. Good luck!

thirdgenbird

i would park it and save...

edit:

what needs done to it? is that 10k at the shop? depending on what needs done, you could save a lot by doing the work yourself.

lizSter

Not really OT but a tangent ...

prosper.com may be a good option for a borrower but as a lender, I have lost a healthy percentage of my investment.

I only loaned to A credit rating or better and mostly AA. Out of 25 loans, 5 have gone to bankruptcy. Of my 8 open loans, 7 are current with payments, 1 is in now in collections. I have stopped making any new loans and pull out funds as soon as I can.

barneys964

Thanks to everyone for the input. I am going to try prosper. I have had the car for 5 years and it has been great. I need to do the 90K service, replace the top (it is original) and just several small items. I have no skills to do it my self, I know that is sad for a 964 owner, but it is the best car I have owned.

boxsey911

I think it's great that you love the car so much that you're prepared to invest in it's future and your future enjoyment of it. Good luck in getting a good deal

Quadcammer

get a zero percent credit card or a couple if need be. Usually that gives you a year to pay it off. Its also unsecured, so they won't be coming for your house or car.

That said, I think its an epically stupid idea to take out a $10k loan to repair a car. If you cannot afford the repairs, it may be time to sell, save up, and get another in a few years.

ian89C4

What major city are you in??

I know there are pretty much Rennlister's in every major city across the U.S., U.K. and Canada. I am sure someone would be willing to help put a new top and tinker around with the small stuff.

Hope it all works out for you!!

Bearclaw

I don't see where the $10K comes from in this list? Don't know where you are, but have you gotten any good estimates from a Porsche indy for the mechanical stuff and a top shop for the convt.? I'm thinking maybe half that.

I'd try to go the credit union route if you can.

I'd stay away from "Auto Repair Financing" outfits.
They all seem to want your title as collateral - or even, like this one, they want to put a "shutdown device" on your car as a weapon to use if you don't pay! For the Love of Pete !!!!!!!

http://www.metacafe.com/watch/133397...air_financing/

Indycam

Have you looked around for a nice used top ?
Cars crash with out doing any damage to the top .
Anybody got an approximate number for a 90K service ?

Marc Shaw

+1 on the "where are you?"

Lots of people here love to tinker are willing to help out on someone else's car if we run out of jobs on our own!

Marc