Is there a bank that will give a loan on a classic car without requiring an appraisal?

Answered by

Christina Miller
Christina MillerAuto Insurance Analyst

Posted on Feb 15, 2023

1. There may be banks that will give loans on classic cars without requiring an appraisal, but it's important to shop around to find the best deal.

2. An appraisal is a valuable tool for both the lender and the borrower, as it helps to ensure that the car is worth the amount of the loan.

3. If a bank is not willing to do an appraisal, there may be a risk that they will not be able to recover the money they lent if the car is sold.

4. It's always a good idea to have a clear understanding of the terms and conditions of any loan before signing on the dotted line.

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