Classic Car Finance
If you are looking for finance for a Classic Car you may find that most to the High Street lenders tend not to offer finance on cars that are over 10 yrs old. They don’t really understand that the classic car is really and investment. However there are a few online companies that will offer you really good deals and are very sympathetic to the classic car buyer’s needs. Many of these companies will provide classic car finance for everything from Jaguar E Types to the classic 911.
There are also many options available with a range of finance deals which can even be bespoke to you. They range from balloon payments to hire purchase and you can even choose the length of the plan from 1 to 5 years. There was even one which allowed you to make lump sum payments whenever you wanted so that you would be paying the loan off quicker or get smaller monthly payments.
Which Classic Car Finance Company?
When you are deciding on which company to use you will obviously be looking for a good financial deal however I would advise that you balance this with choosing a company that understand the classic car industry. It is also more convenient if the company is based in one area as you don’t have to be sending documentation to different locations and furthermore you will probably get to speak with the same team if not the same person each time you call them.
Find out how long the company has been doing Classic Car Finance for and what types of cars they have financed. You can even ask them for a list so that you have a general idea if they will suit what you are purchasing. It is really convenient if you make the application on line but make sure it is a simple process. Once you have submitted your application the Finance company will obviously do all the usual credit checks and they should then phone you with their decision. It is at this point that you will be made aware of the deals they have available for you. Personally I always request that they send this information to me in an email too so that I can go over it later to make sure it is exactly what I need.
When you have agreed on the deal you will finally need to send the finance company the documentation from the seller of the car and your signed documents so that they can arrange for the money to be transferred to you.