lelikmed

Hey I have a few questions with few unusual scenarios.

1. Did any one get a loan/financing on a race car like 911 Cup etc. Those cars have no VIN and no title. All car loans require title transfer and VIN.

2. Did any one get a car loan/financing on a race car imported from Europe? In other worlds - car like 911 cup is located in Europe and you want go buy it and need a financing and is it possible?

3. This one is more complex: is it possible to trade a US regular registered car and get a financing for the rest amount on a Canadian car that was converted into race car, but still has a VIN, but not road legal anymore in Canada?

Thanks

Alex

XR4Tim

Financing would have to be done more like a line of credit/personal loan type of deal. A bank typically won't do a standard auto loan on a car with no VIN, or with a foreign VIN.
Note: I am not recommending that. Racing is expensive enough as it is. Paying someone interest on top of that is just silly, if you ask me. I did know someone who financed a race car or two through part of a business loan, so it can be done.

TexasRider

As Tim said. Unless you are a professional racer with continuing income and substantial assets relating to the business of racing.

z06801

I would not have a loan on any car that I even track yet alone race, just buy one you can pay for and enjoy it. With both cars I track and race, I have it in my head the money spent on them is long gone. Just think how crappy you would feel if you crashed a cup car and then had to still pay for it yet alone fix it, buying a race car is just the tip of the iceberg

Brand Chefs

Yes It is possible to get car title loan easily. You can follow this website for purpose: https://www.highwaytitleloans.com/