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How can you finance that Dream Talladega or Spoiler II?

1970 Mercury Spoiler Prototype

How many times have you seen the perfect car for you at a reasonable price but the funds were just not in the bank when you needed them? Until recently, if you wanted to purchase a collector car and you didn’t have a huge bank account you weren’t able to take it home. You had to start with a less than perfect car. This meant you needed to find, at best, a driver quality car or more than likely a very rough project car. If you are blessed with mechanical skills the next step is to use every available evening and weekend in the garage working on the car. If you don’t have the skill set necessary then even more money had to be saved. A good trustworthy restoration shop has to be found. That means you have to give them your car and even more money. As you collect more dollars over the next several years for the unexpected restoration problems they continue to work on your car as you can afford to pay them.

Banjo Matthews Talladega Prototype

In recent years some of this has begun to change. Especially with the popularity of auctions, buyers can now arrange for financing their dream car. Such financing may also available at some collector car dealerships.

Marty Burke, Mercury Cyclone Spoiler II Dan Gurney Special

Now, anyone with a good credit score can likely purchase a finished complete prize-winning collector car and finance it over a ten year period at reasonable interest rates. I am not an advocate of long term financing but sometimes it is the only alternative. While talking with some professionals in the field of financing collector cars I have learned that many new owners are quite capable of paying for the car in cash but prefer to finance their purchase to use the cash for other purposes. Neither do they own the car for the full 10 years. They often only retain the car for 2 or 3 years and then move on to different “must have” toy.

How does all this work? Woodside Credit is the official finance firm available to Barrett Jackson Auction purchasers. They have a variety of options and requirements depending on the borrower and the car being purchased. Regardless, the process is very quick with approval taking only hours and paperwork only slightly longer.

Currently, in February 2020, financeing is available to everyone for collector cars as low as $15,000 with prices going up from there. A downpayment of a minimum of 10% is required depending on price this can go up to 20%. The car will need to be appraised and inspected which is actually gives you another layer of protection on the quality of the car you are purchasing.

If you would like to know more about how this finance option might work for you click on the link below and talk to  Jeff Sparrow.

Contact Jeff Sparrow and say you were referred by Legendary Collector Cars.

First Talladega off the assembly line!

Cale Yarborough Spoiler 428 CJ Ram Air

Richard

Some of my first and strongest memories from my childhood relate to cars. I still remember when things happened based on what car I was driving at the time. I grew up and lived in Iowa for nearly 40 years before moving to Southern California and now live in Tennessee. I was a Corvette fanatic for years but then re-discovered vintage American Muscle. My wife, Katrina, and I decided we wanted to focus on unique and rare muscle cars. After a lot of research we fell in love with the Ford Blue Oval Aero Cars. These were only built in 1969 and and aerodynamics became an important part of winning races. The only purpose of these limited production cars was to win NASCAR races using the Boss 429 and 427 power plants complimented with a special, wind cheating, aerodynamic body. The Ford Talladega and Mercury Cyclone Spoiler II are terrific and historic cars. This site is devoted to these car and their owners past and present. We provide an Online Registry for recording the long term history and ownership of every remaining Talladega, Spoiler and Spoiler II.

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