Classic car types such as Jaguar E-Type’s to Lamborghini Miura’s, Aston Martin DB4’s to Mercedes-Benz SL 300 Gullwings have made owning a classic car the dream for many. However, with a vast range of classic car finance and classic car leasing options available, that dream can become reality sooner than you think!
We understand that the process for securing classic car finance can be different to that of a regular or even a prestige car, and we’re here to help and guide you through the process.
Our relationships with specialist funders and expert internal knowledge mean that our team can build a bespoke finance package that meets your requirements.
Why Choose Anglo Scottish Prestige?
- Manual underwriting - Rather than using a computer to analyse your application, our team manually checks every deal. This allows us to find the best deal for your requirements.
- Bespoke agreements - We understand that finding the right finance deal can make owning your classic car reality, which is why we tailor our finance to meet your exact needs.
- Regulated and non-regulated agreements – We’re FCA registered, so you can be sure that your best interest are at the heart of everything we do.
- Low APR – Thanks to our panel of funders, we have access to the most competitive rates on the market.
- 5* service – We put the needs of our customer first, and we’re rated excellent on Trustpilot.
- New and used vehicles – We work with the best dealerships in the UK to finance both new and used vehicles.
Need help? Call us on 0191 410 4776
Classic Car Finance options
A flexible classic car finance solution, which consists of monthly payments with the option to buy at the end of the contract. Our most popular form of finance for specialist and unusual vehicles, such as a classic car.
A popular form of company vehicle funding and growing as a form of personal leasing, contract hire is effectively a form of long-term classic car rental with fixed monthly payments based on a predetermined mileage.
PERSONAL CONTRACT PURCHASE (PCP)
One of the most popular forms of car finance, PCP agreements consist of an initial deposit followed by fixed monthly payments, and a balloon payment. At the end of the contract, you can either return your classic car or pay the balloon payment to keep it.
Also known as a conditional sale, a lease purchase is a great option if you want to own the vehicle at the end of the agreement. Buyers usually pay a cash deposit, or part exchange their old vehicle, before paying fixed monthly instalments over an agreed period. There are no mileage restrictions, servicing requirements, or additional charges, and the car ownership is transferred at the end of the agreement.
Variable rate finance options are available for agreements on high-value vehicles, which extends to classic car financing. Unlike other finance options, where the interest is fixed, variable rate agreements track changes in the funder’s house base rate.
There are two types of vehicle refinance;
Refinance of the whole deal or Refinance of a balloon payment
REFINANCE THE WHOLE DEAL
It is possible to take out a new finance agreement on your classic car immediately after you’ve bought it. For example, you may have signed up to an agreement and purchased your classic car, then realised you could have gotten a lower interest rate through a different lender, or your current deal no longer suits your requirements.
Once you have signed an agreement with your new lender, your existing deal would be settled with a one-off payment, and you would begin paying the new rate to your new lender on the agreed terms.
If you have previously arranged classic car financing on a PCP (Personal Contract Payment), and do not have the available funds to pay the balloon payment, your options with your existing lender will be to either return the car or negotiate a deal on a new car.
However, we can help arrange a third option. A balloon finance deal would cover the cost of the final payment to your existing lender and break the cost down to much more manageable monthly payments.
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