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For celebrities and the ultra-rich, a stable of vintage cars is a necessary boast. While people like the Sultan of Brunei can buy multiple versions of every classic car that’s ever existed, as ...
Mecum Auctions was founded in 1988 by Dana Mecum, [1] a car enthusiast whose father operated a dealership in Marengo, Illinois. [2] [3] Dana Mecum initially bought 40 semi-trailer trucks in the 1980s, and traded 10 of them for four houses which he rented out.
Gooding & Company, LLC is a classic car auction company headquartered in Santa Monica, California. Incorporated in 2003, the company holds multiple all-time records for the most expensive cars sold in auction. [1] The company also provides private treaty sales, estate planning, and appraisals.
DriveTime is a private company headquartered in Tempe, Arizona. [3] The company's business model is focused on selling previously owned vehicles to car-buyers. [4] It uses a proprietary credit scoring model to finance car purchases at its dealerships in-house, [5] [6] including subprime lending.
The scarcity of replacement components makes this classic more headache than heritage. Find Out: 10 New Cars To Avoid Buying in 2025 Ford Mustang Ii: The Pony Car’s Problem Child
Over 85% of new cars and half of used cars are financed (as opposed to being paid for in a lump sum with cash). There are two primary methods of borrowing money to buy a car: direct and indirect. A direct loan is one that the borrower arranges with a lender directly. Indirect financing is arranged by the car dealership where the car is purchased.