Would you sell your car(s) to buy a business?

[WILMASBOYL78]

It sounds like you have more than one car. Why not think of this scenario: Sell one of the cars and then get a collector car loan against the other. You can use the cash to help finance the project. You could even hock both the cars and get cash against them. I know some banks who offer very friendly terms for financing: eg: interest only, long term or balloon note. If you sell both cars outright and invest the cash in the new business and then something goes wrong, you are still out the money and the cars are gone! Worst case scenario you are forced to sell the cars to pay off the debt. You could even set aside some of the cash you get upfront to help pay the carrying costs of the note for say a year or so. This way you don't have to sell anything and you have the time to get your new venture up and running. Keep in mind that those 67 Z cars are apprectiating assets, don't be so quick to sell. Meet with your acct and run some numbers. You might be surprised at how it could work out. If you really believe the new venture is a winner then it should turn out ok. Get a professional appraisal of the cars with deatils and photos, rarity, etc. This will establish credibility for the loan if you go that route. Hope this helps...

wilma