Quote:
Originally Posted by GH85Carrera
Only an idiot would try to get a loan on a 24+ year old car. They are usually bought with liquid funds for the most part. It would be a crazy bank to had out loans on classic cars, unless the borrower has spectacular credit. And people with great credit know not to get a loan to buy a classic car.
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One doesn't need a loan on an old Porsche to be affected by interest rates. Porsche owners may have loans on other stuff such as a house or a new car, and as interest rates rise, they may liquidate the Porsche out of need or because they view it as a luxury they can't afford.
Also, the person who has no Porsche but would otherwise have bid up the market price may no longer do so because higher interest rates affect his or her liquidity.
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