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Can I get a car loan for a 1968 Pontiac GTO?
I love old cars and I found a great deal on a 1968 GTO. Can I get a loan for this car even if it's over 50 years old?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
A 1968 Pontiac GTO is an American muscle car at its finest! The good news is that most lenders will qualify the car as a classic, allowing you to get a
car loan
.To get a classic car loan, a lender will decide if the car qualifies based on its mileage, condition, and other attributes. If the GTO has been meticulously maintained, you should be just fine. Apply for the loan just as you would with any other vehicle and always make sure to shop around for rates. Some lenders specialize in classic cars, so that may be a place to start.
If your car doesn’t qualify, you may also want to consider a personal loan. The interest on a personal loan is much higher because nothing is held as collateral, but it’s not a bad deal in a pinch—especially if you make extra payments to the loan to pay it off early.
You should also make sure to shop around for classic car insurance. This product is specifically for classic cars and will provide the coverage you need. To compare rates, download the
Jerry
app and search quotes from over 50 different lenders.View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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