It can be more challenging because many traditional banks and financial institutions don't offer classic car financing. But Affinity is a credit union – not a bank – so we offer these loans as a service to our members.
Classic car loans generally work the same way as other types of auto loans, but loan terms and interest rates may vary compared to new or late-model used car financing. For example, Affinity offers new car financing with terms up to 96 months and regular used car financing for up to 84 months. For classic and collector car lending, we offer terms up to 60 months. Members can also take out personal loans and/or home equity loans to finance their classic car purchase.
Affinity offers classic and collector car loans with terms up to 60 months. You can also choose a shorter loan payment period, but your monthly payments will be higher.
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Affinity Federal Credit Union can provide financing for classic, antique and exotic cars purchased from:
We can even finance kit cars, or refinance a classic car loan from another institution. [Please supply/check this answer]
You must be an Affinity credit union member 18 years of age or older.
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No. Affinity does not charge prepayment penalties on auto loans to members.