Re: [DML] Financing help / information

["Sacha Prins" <sprins@xxxx>]

On Thu, 19 Oct 2000 23:06:02 -0000, azelin242@xxxx wrote:

> Hello list,
> I've just been turned down on yet another application for my 
> DeLorean purchase. The bank first said it was a 'high risk' vehicle, 
> then when I asked exactly what was required for them to finance the 
> car, they got rude with me, saying: "We don't finance DeLoreans" 
> That was the end of the matter.

When they say 'high risk' it means that it's a high risk for -them-. A
bank is always looking for security when providing a loan. When you buy
a house your house is the security for them. With a new car ditto. When
something goes wrong (you cannot pay your dues anymore) they auction
the house/car. With an old, excentric car they will have a much harder
time doing that and getting their money back. Hence the denial of your
loan.

> I'm in the military, so I have a stable source of income for years 
> to come, I've got good, pre-established credit, and I've never been 
> late on, or missed a payment on any of my credit cards or other loans.
> I just don't understand why this is so darned hard to do. It's not 
> like I'm asking for $20k. I'm asking for less than $10k. 

Maybe you can get a personal loan for that ammount (not a car
financing) at the same bank if your income is high and stable enough.
The most probable reason why the bank person told you they don't
finance DeLoreans is because they don't have a checkbox for a DMC12 on
the loan application form, hence no financing. The reason there is no
checkbox is the 'high risk' story.

Don't get me started on banks and other financial institutions. They
are a certified pain in the ass.

> Does anyone know of any 'DeLorean friendly' finacial institutions? 
> Any help that anyone on the list can offer would be very much 
> appreciated.

Sorry, can't help you with that, I'm on another continent :)

Sacha