I posted a month back or so that I had a line on a car I would like to buy. Life got in the way and the cash I had went to something else more pressing. hence my question... Will a bank or Credit Union loan on a 32 roadster? I haven't gone to mine yet and asked, just curious if any of you have ever done so. I have a 2007 Pick up that I am thinking of using as collateral so with that they may do it. Mike ( trying to get outa being a VW guy)
If you have excellent credit ... and the roadster is not terribly expensive a bank will loan you the ca$h. The 2007 pickup could be used ... the value on 2007's is usually less than 10 grand. And ... there are a LOT of closet VW lovers here. But VW's are not really openly accepted.
Yep, all depends on your credit. I borrowed $ 15K on my 27 years ago so my ex wife could get her teeth capped. They held the title until the loan was paid off. What they will probably do is just make you a loan that you could use for any purpose and the fact you are buying a 32 is incidental. Loans are getting harder to get these days due to all that has happened in the banking industry, but it won't hurt to try. The truck for collateral may help. Don
Buy something you have the cash for. After all, it's a TOY. Next time some unexpected expense pops up you're going to go without your pickup?
If we all waited until we had the cash to buy our toys there would be no Corvettes, motor boats, or Harleys sold. Big ticket items are hard to save up that much cash for and we would be 90 years old before we got them. Don
I like Vdubs myself. I borrowed 12K against the wife's 05 2 years ago so I would think that 10-12K on an 07 is probably close to correct. Not likely that a deuce roadster is going to be had for that price. the bank may loan you the cash with the late model thrown in for good measure, depends on how much you want to borrow, if your banker likes you and what condition the roadster is in.
Thanks guys for your input. I just got off the phone with my Credit Union. The young lady told me it was possible using my 2007 as collateral but it would have to go through the approval process first. If that failed they could make me a personal loan. As to the price, It is 10 K I have seen many pics and it looks good. One reason it is this price is it is a kit car and is 3/4 size. Not a full size 32. I missed the chance to buy one when they first came available several years ago. This one is ready to drive. Of course I will go look and drive it first. Why a 3/4 size car? well I think it is cool, it fits my budget, and my garage! I figure it is close to the same size as my VW. As to waiting to save up the money... You are right that is the best thing to do but as one of you also said damn hard to do. I have been a VW hobbiest since I got my license in 1969. I had always loved the look of one with the top chopped. So for my 50th birthday 10 years ago I purchased one. It is tons of fun but now I want something else in the stable and this mini 32 fits the bill. It has a 60hp flatty in it and wire wheels. Mike
You have got to post up a picture of a 3/4 sized Deuce. Never seen one, and wonder why they made them at all. Don
When I get tired of my toys I like to sell 'em to get new toys. So I always think of how hard is this thing going to be to sell some day and whats it gonna be worth. IMHO a 3/4 size deuce roadster; not easy to sell and not much money. I'm on the side of saving some more money up and get a full size toy. Normal Norman
my opinion is that the little banks that used to give you signature loans, like for my daughter's tuition, have mostly been bought up by multi-national banks that could give a fig about lending to you unless you have sterling credentials and a pile of collateral. Good luck getting a loan on a '32 Ford, even if Henry came by and certified it's value!
A 3/4 size 32? You have got to be kidding me. A total waste of money . You are new to the hobby. Sounds like you need some direction. Seek professional help as soon as possible. Just saying. Worse than buying a Street Beast. Good luck.
Really? Street driven, daily driven, 10.08 @ 142... I know it's O/T, so I won't mention the name of the all steel 1968 German econocar that did this, but if you care to google Kurt Mezger, I'm sure it will come up, from Vintage Performance... we now return you to your regularly scheduled programming
I can answer that... In the original article I think in Rod and Custom but may have been in Street Rodder. The guy selling them and whos company it was written about said his plan was to make it possible for some with tighter budgets to afford to get into a hotrod more easily. If I remember correctly, he purchased the original body molds from someone else and lengthend them for a bit more leg room. The original company planned to use motorcycle engines in them. The one in the article had some sort of Chrysler 4 banger with two side draft carbs. it looked like an Offenhauser race motor with the carbs and Venturi tubes on them. He folded or changed his business model and was selling them through a guy in SO Cal for a while most recently. This guy was selling them as electric cars. HTH, Mike
I hate to be a downer but I agree with the cash part,they are toys ,even though they are a way of life unless they are your lively hood finacing them is probaly a bad idea.Of course I am biased as I grew up in the home of a small biz family that got into some trouble in the ninties,almost lost everything it was a learning experaince for us kids,it had to come close to splitting up my folks and def caused extreme stress. with that said your not tryin to run a biz ,however I have personally found it easier to look at everything from a biz perspective ,like norm said ,your gonna have a pretty hard time selling the 3/4 deuce,you would be better off buying a bucket. this is all just my .02 but thats what we all give out around here right.Believe me ,I have only financed one vehicle in my life,a brand new 4x4 I had to have when I was 21 and I didnt like that truck one bit when it came time to writting that $531 check every month,my old muscle car I had at the time though was paid for and never made me regret owning it. There is a reason these toys are expense and cash is king,supply and demand,Ifeel that i am rambling but thats what day drinking does,lol.
Is this one of those 2/3 scale roadsters that were around a few years ago?,.. Proportions don't look right.
Although, if you're accustomed to spending money on VW's, you already know what it's like to own something with LOW resale value. Jokes aside, don't buy it. It sucks. I promise.
Looks like cartoon of a hot rod...stop calling it a '32, it's neither 32 nor Ford. Those wheels & that engine would look good on a T though... Or buy another volkswagen and cut the roof off!
Not selling, I am buying I have no dilusions of selling it for a profit. Anymoreso than selling my chopped 66VW that has around 15 grand in it now. It is a hobby, it is for fun, it is what I want to do and I can afford it. If I buy it and keep it for 10 years then sell it for $5,000.00well then I had plenty of fun in it and time to pass it on. No different than any of you and your full size cars is it? Seldome if ever will any of you get your investment out of your car and that is not why you built it anyway is it? I have a good friend that has a great metal bodied 5 window for sale. I'd love to have it but he wants 40 grand! Even if he came off of it to say 35 grand it is still just way more than I can afford. I understand some of you being car snobs, thats ok. I am one too when it comes to classic VW coming to a show and others bring their watercooled Golfs or new bugs. I figure this will be akin to owning a T bucket it will just look more like a 32. Appreciate the input pro and con and the lively discussion. Mike
1) I think it looks like a fun toy, I would drive it. 2) not sure its worth 10K ? 3) lots of other good choices for $10K (just not a real 32 roadster) 4) dont finance a toy just my 2 cents.....
The Jalopy Journal
