finance

There are three main types of finance which are available for a Classic Car purchase or re-finance although these are only available on the basis of certain criteria being fulfilled successfully . Please note we will only finance Classic Cars where the borrowing required is in excess of £25000.

HP

This is the type of finance that the majority of our clients use in the purchase of their Classic Car. On this type of finance a deposit can be as little 5 per cent although typically more and the balance paid over a 3 or 5 year period. At the end of the finance term the car is owned by the customer.

HP with a balloon

This is a specialist product and only available in certain circumstances where the client specifies they want such a product and the lenders are happy to grant it. HP with a balloon will mean lower monthly payments than normal straightforward HP but will be more expensive in the longer term as the client is paying for the privilege of having a large lump payment to pay at the end of the agreement. This type of finance package will normally run for between 3 – 5 years. At the end of the finance term when the balloon payment is paid the car is owned by the customer.

equity release

An almost totally unique offering in the current market place and one that has seen the largest increase in the number of enquiries recently. In simple terms we can release equity from Classic Cars either singularly or as a collection that are already owned by a client or business. This attractive option allows owners to take advantage of the recent increase in Classic Car values to release funds . Please note we have a minimum of £100k for this facility and each of these advances is bespoke to each client’s own vehicle or collection and personal financial requirements.

criteria

Our success with our unique panel of banking partners in the UK and overseas is based on us doing a very considerable amount of work and background checks for each client. Each application require background checks and financial information to be submitted on each finance case put to them. Whilst we will select a banking partner for each finance case depending on the type vehicle, the size of the advance and the clients requirements - without the full information being available we cannot process your requirement. In addition in most cases the lender will require an independent valuation and a tracker to be fitted .