A Finance Company That Can Arrange Finance For Old Cars

[sharkteeth]

Hi everybody, i am planing on buying my first four wheeled vehicle ( CAR ) , so it won't be a brand new or new even. I have an eye for this old mercedes benz w123 which was manufactured in 1981 ~ 1982 somewhere. I am looking for a finance company that can finance a old car. Are there any in sri lanka? because everyone i spoke to says they won't finance anything below English numbers. Well that's rediculous in my opinion. So anyone has an idea about it...? I can bare the cost 50%, at least if i can get 50% financed, it'll be great.

Thanks.

[Crosswind]

Talk to LB Finance, Orient Finance, Softlogic Finance and if all else fails, the famous loan sharks Commercial Credit and Kalutota Finance. These companies normally do old cars as well but the max u will get out of them is 50% of the value.

For a W123, you can expect the max facility about 500k, since the market value may not reflect the true forced-sale value if the car is seized. Right now, there is a diesel W123 lying in Softlogic Finance yard, which they have been trying to sell for the past 6 months for 800k. They havent been able to find a buyer yet. That's a risk lot of finance companies don't want to take.

If you need any help, PM me.

[Hoonigan]

Also, bear in mind the car you want being an old Merc, you will have to take care of a few things when you buy it. So keep yourself a small financial buffer. Otherwise you'll be paying a lease for a broken car you have trouble fixing. Good luck and do show us when you buy it

[Watchman]

Talk to LB Finance, Orient Finance, Softlogic Finance and if all else fails, the famous loan sharks Commercial Credit and Kalutota Finance. These companies normally do old cars as well but the max u will get out of them is 50% of the value.

For a W123, you can expect the max facility about 500k, since the market value may not reflect the true forced-sale value if the car is seized. Right now, there is a diesel W123 lying in Softlogic Finance yard, which they have been trying to sell for the past 6 months for 800k. They havent been able to find a buyer yet. That's a risk lot of finance companies don't want to take.

If you need any help, PM me.

Wouldnt this be a great deal for the OP? If OP goes to Soft Logic, they'll gladly ive him the lease and sell him this car too.. A clear win win situation..

Edited March 18, 2015 by Watchman