PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
"What is the best way to finance a classic Camaro? "
"The Camaro I want is selling for $5,000. I have $2,000 in cash and would need to borrow $3,000 more. My bank won't give me a car loan, which I don't understand since I don’t have bad credit. How do people buy older cars?
"
Johnny Puckett · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“You could try getting a personal loan, which is a type of unsecured loan. But because there is no collateral securing the loan, the interest rates for personal loans tend to be higher than for traditional car loans.
As for your bank not giving you a loan for the Camaro, this probably has more to do with the car than it does you. Banks do not usually finance older cars because there is a higher risk that they will break down beyond repair before the loan is paid off, and the borrower will not want to pay.
“
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
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.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies