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Yeah, no bank is going to touch it. I was in your situation a couple of years ago. (the Ferrari financing, not the kids in college). I ended up just waiting and saving because I was close. I am scratching my head here trying to remember the deal. There is a company that specializes in the financing you are talking about. You can't get a loan using the car as collateral. The deal is - the finance company buys the car and leases it to you. At the end of the lease they sell it to you for something like $100.

I remember now, the problem I had with them is the fact that Maine is not a title state. You don't need a title as proof of ownership for a car more than 10 years old. So they couldn't help me because they wouldn't have anything to hold onto as proof of ownership.

I can't remember the name of the finance company but you might try to give Peter Sweeney of Forza Motors a call and see if he has the name, I think I got it from him. Peter's phone # can be found on his website http://www.forza.weblobby.com/ Another option would be to call the place you are talking to for insurance and see if they have a recommendation.
 
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