[DML] One way to get money to buy a Delorean.
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[DML] One way to get money to buy a Delorean.
- From: KiwiDean@xxxxxxx
- Date: Wed, 7 Jul 2004 20:40:01 EDT
Some folk have asked me how I managed to buy a Delorean. I had tried
financing through several companies, but it was no-go (mainly due to the age of the
car). I went through MBNA, who established me a $15,000 line of credit
account. With that, I managed to buy a Delorean with clear title, and even
though the interest rate was on the face of it high (18%), given the fact that the
other finance companies tack on additional costs onto their 'on the face of
it' low interst rate, it actually worked out pretty good. In order to fully
pay off the line of credit in 5 years, it is $395.00, which I willingly pay
(shows you how badly I wanted a Delorean), but as the min monthly payment is
$260, I can be flexible in my payments if any problems show up, plus money paid
back can be used again if need be. This really worked out well for me.
Dean Thomas
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