Specialist classic car finance options

Most mainstream funders avoid Classic Car refinance due to the risk factors associated with this area of finance such as the vehicle’s age and value and most have little understanding about the complexities of this type of finance.

Our bespoke Classic Car funders understand the product and offer specialist advice.  Types of Classic Car refinance include:

• Dealer purchase – Release capital from a vehicle
• Equity release – Release capital from a vehicle
• Private purchase – Arrange finance to purchase from a private seller
• Auction finance – Arrange finance to buy a car at auction
• Restoration finance – Options to help fund a restoration
• Collector credit facilities – Buy whichever car you want, when you want

Classic car equity release allows owners and collectors to unlock the capital tied up in their high value classics.   Vehicles are usually worth in excess of £75,000 and up to 70% of the vehicles value can be released.

Equity release is becoming an increasingly popular way for owners to release equity from their cars to fund the purchase of additional vehicles or other projects leaving their own cash in the bank. Funds are secured on the vehicle rather than on other assets such as property.

Classic & Sports Finance equity release schemes offer excellent rates over a period of up to five years. Most short term “log book loans” require the customer to hand over their vehicle to the lender as security and incur high rates of interest. This is not a short term bridging solution which is why the terms are so much more attractive.

The main benefits include:

• Unlock the capital in your valuable classic
• Hire purchase packages from 12-60 months
• You remain the keeper of the vehicle
• Continue to drive & enjoy your car
• Not “posh pawn” or a logbook loan

For more information on all aspects of this type of finance, contact us for a no obligation chat.