Financing a 1985 D90 - Defender Source
Defender Source  

Go Back   Defender Source > Classifieds > For Sale - Vehicles


Reply
 
Thread Tools
  #1  
Old December 24th, 2013, 11:39 AM
Dcerame's Avatar
Dcerame
Status: Offline
David Cerame
97 D-90 RHD 300TDI
Member
 
Join Date: Jul 2009
Location: New York
Posts: 7
Financing a 1985 D90

Hello and happy Holidays,
I am back to being cash positive after years of real estate development being a depressed market.
So I am back in the market to find another beloved D90. One issue, how does one secure financing for a vehicle older that 2006 as the banks are of no use?

Any help, leads, suggestion etc
Dave
Reply With Quote
Sponsored Links
Advertisement
 
  #2  
Old December 24th, 2013, 11:46 AM
East Coast Defender
Status: Offline
East Coast Defender
2004 Disco
Member
 
Join Date: Apr 2013
Location: ORLANDO, FL, USA
Posts: 96
JJ Best Banc have helped a few people purchase 1980's ROW trucks from me. They are pretty fast with their approvals and inspections etc. Never had any issues.

Good luck!
Reply With Quote
  #3  
Old December 24th, 2013, 11:56 AM
rijosho's Avatar
rijosho
Status: Offline
Joshua
1995 Black ST - Rhinolined edition
Research Assistant/Eagle Eyes
 
Join Date: Apr 2009
Location: NYC
Posts: 16,557
Registry
Search financing, loan, etc. on here. Credit unions.
__________________
Quote:
I am talking purely from an aesthetics standpoint.
Reply With Quote
Sponsored Links
Advertisement
 
  #4  
Old December 24th, 2013, 12:04 PM
Jackie Treehorn's Avatar
Jackie Treehorn
Status: Offline
A
1985 (legitimately)
Member
 
Join Date: Jun 2011
Location: Massachusetts
Posts: 1,984
Registry
David, I'm not trying to micromanage your finances, but I humbly suggest you reconsider financing a 25-year old truck that will need more upkeep and repairs than a used boat.

If you can't pay cash, then it may not be within your wheelhouse to own one. Imagine taking out a 5-year loan on something that could conceivably be in need of total restoration before the loan is matured? The only way I'd "finance" any older Defender is just using the zero interest rate convenience checks that your credit card company gives you with the plan to pay it off in that time period of zero interest rate. Or if you can bridge with an equity line and just pay it off. Otherwise, financing is not really the smartest solution to Defender ownership.
Reply With Quote
  #5  
Old December 24th, 2013, 12:10 PM
Rocky's Avatar
Rocky
Status: Online
Chris
72 + D1 drivetrain
Member
 
Join Date: Sep 2006
Location: Colonies Aka Boston
Posts: 8,762
Cash rich but needs loan. Hmmmm. Interesting .

Thought about a Home equity loan?
__________________
A friend of mine runs a land rover / range rover specialty repair shop. Based on his experience, they are capable of stopping anywhere, anytime, at any cost.

I don't know about the brakes, only their unreliability.
Reply With Quote
  #6  
Old December 24th, 2013, 02:56 PM
Bill Larson's Avatar
Bill Larson
Status: Offline
Bill Larson
97 D90 SW
Member
 
Join Date: Jul 2010
Location: AUS
Posts: 6,563
Quote:
Originally Posted by jackie treehorn View Post
david, i'm not trying to micromanage your finances, but i humbly suggest you reconsider financing a 25-year old truck that will need more upkeep and repairs than a used boat.

If you can't pay cash, then it may not be within your wheelhouse to own one. Imagine taking out a 5-year loan on something that could conceivably be in need of total restoration before the loan is matured? The only way i'd "finance" any older defender is just using the zero interest rate convenience checks that your credit card company gives you with the plan to pay it off in that time period of zero interest rate. Or if you can bridge with an equity line and just pay it off. Otherwise, financing is not really the smartest solution to defender ownership.

x1000...!
Reply With Quote
  #7  
Old December 24th, 2013, 03:47 PM
jafir's Avatar
jafir
Status: Offline
Jafir Elkurd
Flaky Green 198something ex-mod 90
Member
 
Join Date: Jan 2013
Location: Centerton, AR
Posts: 1,580
Registry
I wouldn't finance ANY Land Rover that didn't still have a warranty for at least the entire time of the note. But each person does their finances differently.

Also, there are always exceptions to any rule.
Reply With Quote
  #8  
Old December 24th, 2013, 08:21 PM
Christocat's Avatar
Christocat
Status: Offline
Chris & Rachael
1997 Land Rover Defender LE 116
Member
 
Join Date: Dec 2013
Location: Silverdale, WA
Posts: 66
Registry
Hello all,
new to the forum, this post is interesting to me because i'm looking to get a NAS 90 Defender sometime in the future... if you have the money to pay one off in two years would it be worth getting? Any suggestion to a first time buyer?
Reply With Quote
  #9  
Old December 24th, 2013, 08:40 PM
Jackie Treehorn's Avatar
Jackie Treehorn
Status: Offline
A
1985 (legitimately)
Member
 
Join Date: Jun 2011
Location: Massachusetts
Posts: 1,984
Registry
Quote:
Originally Posted by Christocat View Post
Hello all,
new to the forum, this post is interesting to me because i'm looking to get a NAS 90 Defender sometime in the future... if you have the money to pay one off in two years would it be worth getting? Any suggestion to a first time buyer?
If you can pay off a $30,000 (plus or minus $5k) loan in two years then you can save that much ahead. Two years isn't that long. The only way I'd consider financing a Defender purchase is if a really great opportunity came on your radar screen and it was a "now or never" opportunity and you weren't liquid enough at the time.
To plan on getting into a Defender by financing it is a mistake IMO.

Otherwise, best of luck and welcome to the festival of pain that is Land Rover ownership!
Reply With Quote
  #10  
Old December 24th, 2013, 08:56 PM
mgreenspan's Avatar
mgreenspan
Status: Offline
Matthew Greenspan
Land Rovers
Member
 
Join Date: Nov 2008
Location: Nevada City
Posts: 1,719
Registry
http://www.ebay.com/itm/ws/eBayISAPI...m=261360672625

Financed and now for sale at a firm price that will probably not get any bids. Not the situation you want to be.

Think about this alternative situation. Imagine walking into a dealership and buying a brand new car with financing; however, this is not the normal brand new car purchase. There is no warranty and the vehicle is not even in new condition. Plastic bits are broken throughout the interior, the seats are squishy, there are oil leaks everywhere, water drips into the inside and there is always a moistness in the footwell, the paint is mediocre, etc. Does that even make logical sense? Let me borrow money to buy something that I will inevitably have to dump an equal amount of money into to make perfect.
__________________
Do not read the next sentence.

You little rebel, I like you.
Reply With Quote
  #11  
Old December 24th, 2013, 09:23 PM
JohnBullsBollocks's Avatar
JohnBullsBollocks
Status: Offline
Don
1963 IIA 109
Member
 
Join Date: Dec 2013
Location: Colorado Springs
Posts: 107
Registry
Don't finance!

Good question Dave. I concur with most of the responses, however. You are looking to purchase a vehicle that was built between 1993-1997 for NAS. So, a 20 year old vehicle. 25 years old if you decide to import one from outside the CONUS. ANY vehicle that old is going to need repairs or a complete overhaul. Parts can be very expensive and if you don't do your own repair work you will be BONED for labor. That's just the way it is. The classic car hobby is a dangerous game and most of us will tell you to have a new, reliable car or truck that is paid off before entering the vintage Land Rover field of play! eBay, Craigslist and the various blogs are littered with vehicles which have not been properly maintained (because of the cost) and others that have been sitting for years because they require an expensive engine, chassis or driveline repair. If you MUST have a Land Rover, you can buy a Disco for very little these days. Unfortunately, the same rules apply. Depending on the age of the newer Land Rovers (LR3, Range Rover) you can purchase an extended warranty. Any vehicle with a payment should have a warranty! Merry Christmas and best of luck in the new year!
Reply With Quote
  #12  
Old December 24th, 2013, 09:29 PM
Daddymow's Avatar
Daddymow
Status: Offline
Raub A.
1987 D110 Tithonus
Member
 
Join Date: Oct 2011
Location: Stuart, FL / Boone, NC
Posts: 3,966
Registry
Quote:
Originally Posted by mgreenspan View Post
http://www.ebay.com/itm/ws/eBayISAPI...m=261360672625

Financed and now for sale at a firm price that will probably not get any bids. Not the situation you want to be.

Think about this alternative situation. Imagine walking into a dealership and buying a brand new car with financing; however, this is not the normal brand new car purchase. There is no warranty and the vehicle is not even in new condition. Plastic bits are broken throughout the interior, the seats are squishy, there are oil leaks everywhere, water drips into the inside and there is always a moistness in the footwell, the paint is mediocre, etc. Does that even make logical sense? Let me borrow money to buy something that I will inevitably have to dump an equal amount of money into to make perfect.
Haha Funny I saw that one! Yea good luck with all that, right.
Reply With Quote
  #13  
Old December 24th, 2013, 11:17 PM
mgreenspan's Avatar
mgreenspan
Status: Offline
Matthew Greenspan
Land Rovers
Member
 
Join Date: Nov 2008
Location: Nevada City
Posts: 1,719
Registry
I hope my post doesn't come across as nasty. But having owned 4old 80s rovers they require lots of love and I could not ever imagine this hobby being on loans and credit versus bonus cash that is sitting idle instead if being invested in something real.

But you are an adult and can do as you wish. Good luck!
__________________
Do not read the next sentence.

You little rebel, I like you.
Reply With Quote
  #14  
Old December 25th, 2013, 12:41 AM
geoellis's Avatar
geoellis
Status: Offline
George
1995 D90 #2904 - BB
Member
 
Join Date: Jan 2011
Location: The Long Island of NY
Posts: 1,168
Good advice overall, but depending on the vehicle financing may be a smart move. For instance, NAS defenders have tended to hold steady in value or appreciate. In this instance, I would finance the purchase all day long, especially at current rates. I don't follow the ROW market, but if the pricing characteristics are the same, then I would finance.
__________________
1997 P38 4.6
1998 P38 4.0
2011 LR4
Reply With Quote
  #15  
Old December 25th, 2013, 01:38 AM
toddw's Avatar
toddw
Status: Offline
Todd
Range Rover L405 Supercharged
Member
 
Join Date: Sep 2012
Location: Morgantown, West Virginia
Posts: 149
Registry
Never finance toys...
Reply With Quote
  #16  
Old December 25th, 2013, 10:13 AM
1of40's Avatar
1of40
Status: Offline
1of40
NAS 97SW & 83 One Ten Tdi
Member
 
Join Date: Dec 2003
Location: Potomac Falls & Wintergreen, Virginia
Posts: 6,075
Registry
I don't get the bashing here on financing a Defender. Seems to make just as much sense as financing LR3 or LR4 or Range Rover money pits. Clay
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote
  #17  
Old December 25th, 2013, 10:37 AM
jafir's Avatar
jafir
Status: Offline
Jafir Elkurd
Flaky Green 198something ex-mod 90
Member
 
Join Date: Jan 2013
Location: Centerton, AR
Posts: 1,580
Registry
Quote:
Originally Posted by 1of40 View Post
I don't get the bashing here on financing a Defender. Seems to make just as much sense as financing LR3 or LR4 or Range Rover money pits. Clay
I wouldn't finance one of those either. Unless it was under warranty.
Reply With Quote
  #18  
Old December 25th, 2013, 11:41 AM
Rugbier's Avatar
Rugbier
Status: Offline
Gustavo
110 Tdi - 110 N/A - D3 HSE - RRS SC
Member
 
Join Date: Jul 2008
Location: Peoples Republic of Marylandistan
Posts: 5,884
Registry
Maybe while all of you bash this guy for financing take a look ( and I am sure there are few here ), financing boats, Ferrari , Lamborghini and the likes.

To the OP, if getting a 90 forces you to finance , go for it, at the end of the day, is your Toy, your money

Good Luck
__________________
NO SIGNATURE
Reply With Quote
  #19  
Old December 25th, 2013, 12:18 PM
Bill Larson's Avatar
Bill Larson
Status: Offline
Bill Larson
97 D90 SW
Member
 
Join Date: Jul 2010
Location: AUS
Posts: 6,563
Quote:
Originally Posted by Rugbier View Post
Maybe while all of you bash this guy for financing take a look ( and I am sure there are few here ), financing boats, Ferrari , Lamborghini and the likes.

To the OP, if getting a 90 forces you to finance , go for it, at the end of the day, is your Toy, your money

Good Luck
consensus hater...lol
Reply With Quote
  #20  
Old December 25th, 2013, 12:34 PM
mgreenspan's Avatar
mgreenspan
Status: Offline
Matthew Greenspan
Land Rovers
Member
 
Join Date: Nov 2008
Location: Nevada City
Posts: 1,719
Registry
Quote:
Originally Posted by 1of40 View Post
I don't get the bashing here on financing a Defender. Seems to make just as much sense as financing LR3 or LR4 or Range Rover money pits. Clay
Funny coming From a guy selling vehicles for top dollar. 50k for 5 years of no extra cost on a new vehicle with a warranty versus 50k on a 30 year old land rover 110 that has no warranty and will break ad need work at some point. That is more costly than a new car and makes no sense. You guys that sell vehicles as businesses can get top dollar. Joe Schmoe individual who decides he can't deal with his old rover anymore can't and that is why owing money on them makes no sense.
__________________
Do not read the next sentence.

You little rebel, I like you.
Reply With Quote
Reply

Lower Navigation
Go Back   Defender Source > Classifieds > For Sale - Vehicles

Tags
1985, 90, d90

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Multiple D90 Parts discojosh2000 For Sale - Parts 13 November 2nd, 2010 07:35 PM
financing question on d90 Kerr Defender Technical Discussions 20 May 31st, 2007 10:10 AM
D90 won't start! rover4x4 Defender Technical Discussions 32 June 13th, 2005 08:42 AM
1985 d90 PurpleHaze Defender Technical Discussions 5 May 4th, 2005 04:53 PM
D90 Tshirts norros Misc. Chit-Chat 16 March 8th, 2005 11:05 AM


All times are GMT -5. The time now is 01:15 AM.


Copyright