Classic Car Finance
Flexible finance options for classic, vintage and historic cars
Turn your dream of owning a classic car into reality
There has never been a better time to buy a classic car. Be it carefully considered investment or simply an itch you need to scratch, in the twilight of internal combustion, these are both important touchstones and sought-after commodities from a rapidly vanishing era.
Owning a classic car can be a hugely fulfilling experience, from the myriad mechanical sensations of driving one, through the cathartic processes of maintenance and improvement, to the knowledge that you are investing in a rare and cherished heirloom. With a comprehensive annual events calendar, there’s no lack of activities for owners of classics to enjoy. Whether it’s a Sunday Scramble at Bicester Heritage or a weekend at Goodwood Revival the car will become a passport for some of the most sought after automotive events in the UK.
There are pitfalls of course, but JBR Capital is here to help you navigate them. Use our classic car buyers’ guide as a starting point and speak to one of our expert team about the best way to proceed in securing your perfect car.
Many established car finance and traditional high street lenders struggle to offer appropriate packages for the classic car buyer. Frequently, a lack of expertise in a broad and changing market discourages them from engaging at all, or the solutions they are able to provide are uncompetitive.
But JBR Capital is run by passionate car enthusiasts, all of us here to help you turn dream into reality, and there are a number of ways we can do that.
Hire purchase finance agreements allow you to:
- Pay for your car in monthly instalments
- You have the option to buy outright at the end of a fixed term contract
- Once you have found the perfect classic, you simply let us know how much you want to borrow
- This is based on the price of the car less any deposit.
We also offer a lease purchase agreement that allows you to make regular payments, similar to a hire purchase agreement, but with some differences:
- There’s a final ‘balloon payment’ to make, after which the car is yours outright.
- A typical lease purchase agreement lasts between two and five years.
- However it is possible to fully or partially settle the outstanding finance at any point.
A large proportion of classic cars are bought at auction, however, which can present both real and imagined hurdles for anyone hoping to secure a car with finance. JBR Capital has auction finance packages designed specifically for the purpose, enabling you to:
- Bid with confidence up to an agreed value
- Safe in the knowledge that the funds are immediately accessible should you be successful on the day.
As like-minded owners and enthusiasts, the team at JBR Capital also understands the complex maintenance and restoration requirements of older cars and can provide restoration finance for all levels of professional improvements.
We also have equity release packages in place that allow you to quickly and easily release equity from an existing collection if you wish to add to it at short notice, ensuring that you do not need to sell a treasured asset in order to build on your portfolio.
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What our clients say
Applying for Classic Car Finance
The process of applying for classic car finance couldn’t be simpler.
1. Get In Touch – The first thing you need to do is contact our team. A short discussion about you, the type of finance arrangement that will work best for you and the classic car you’re hoping to buy, will be enough for one of our advisers to generate a quote.
2. Submit Application – If you’re happy to proceed, the next step is to submit the application, which you can do in minutes online. The finalised financial proposal will then be passed on to our underwriters.
3. Pay Deposit – Once this has been approved, a process that normally takes no more than one working day, you simply pay a small deposit and sign the finance agreement.
4. Drive your dream car – And that’s all you need to do. JBR Capital then pays the balance in full and you are free to drive away in the classic car of your dreams. Too good to be true? Call us and find out.
Why Finance your classic car with us?
We’ve built great relationships with classic car dealers and auction houses and have a wealth of industry knowledge which enables us to offer the best advice at every stage of the buying process.
We are a direct lender and we assess every finance application individually. We will assess your eligibility and make sure we offer a loan that suits your financial circumstances.
We’ve paid out deals in less than 24 hours and £1m+ deals in less than a week, enabling our clients to act fast when they require cash.
We are a responsible lender and provide the most suitable finance option depending on a client’s situation and needs, with strong but realistic balloons.
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Representative Finance Examples
Porsche 911 (993) Turbo
Finance Product: Lease Purchase
Fixed rate of interest per annum 3.48%, Representative APR 7.9%
If you borrow £119,000.00 and pay a £21,000.00 deposit to the dealer for a car with a cash price of £140,000 over 48 months at a Representative APR of 7.9% and an annual interest rate of 3.98% (fixed), you would pay £1,624.65 monthly with one final balloon payment of £70,300.00. The total amount payable including your deposit and fees would be £169,758.20.
|Total amount of credit||£119,000|
|Total charge for credit||£29,758|
|48 monthly payments of||£1,625|
|Final balloon payment||£79,300|
|Total amount payable||£169,758|
Classic Car Finance FAQs
When does a car become a classic?
Classic status is officially conferred on a car that is forty years old or older, meaning today that any car built before January 1979 is exempt both from road tax and MOT. This is a rolling cut-off point, meaning it will move to 1980 next year, and so on.
The true definition of a classic car is considerably more amorphous however, and can apply to collectable road and racing cars from almost any era, depending on their scarcity and desirability. Check out our Classic Car Buyer’s Guide for more information
Are classic cars a good investment?
This is the million-dollar question, and one without a straightforward answer these days. Classic cars are not the sure-fire investment they were five years ago. The market has slowed considerably and the sort of quick return that was making headlines relatively recently is now markedly less likely to arrive at all. That being said, if you are prepared to be patient, the right historic vehicle can still be an astute part of your investment portfolio. Do the leg work to find the best car at the best price and you can expect to see a sensible profit over time.
Options for classic car finance
There are various ways you can simply and cost-effectively finance a classic car. From Hire Purchase to Lease Purchase, our finance packages are both flexible and tailored to suit your individual requirements. We also offer finance deals for buying at auction, often the easiest route into classic car ownership. Explore the possibilities with our finance calculator or speak to one of our friendly advisers to find out what we can do for you.
Can I refinance my existing classic car?
If you own a classic car worth £75,000 or more, we can refinance existing agreements with other lenders. This could enable you to benefit from more competitive monthly payments and take advantage of any increase in your classic’s value.
What documents do I need to apply?
Applying for classic car finance is a straightforward process that can get you behind the wheel much sooner than you might think. All you need is proof of address, preferably a utility bill or bank statement from the last 3 months, and proof of income. For this you can provide us with one of the following: a P60, tax return, three months of bank statements, or three months of payslips with a supporting letter from your accountant. You’ll also need to show us your driving license and passport.
Can I finance a restoration?
We understand the importance and challenges of professional restoration. We’re in a unique position to finance all types of work on classic cars, from a straightforward cosmetic overhaul to the ground-up, nut-and-bolt rebuild.
Classic car financing on bad credit?
We understand that people have different credit ratings for different reasons. We are a private lender, not a broker, and we specialise in tailoring our finance packages to individual clients. If your heart is set on that dream classic but you’re unsure about raising the funds, speak to one of our friendly team of advisers and you might be pleasantly surprised by what we can do.
Can I get a loan for a classic car?
Yes, you can. It’s not always easy for traditional lenders to arrange finance on a classic car, but JBR Capital’s independent status and in-house expertise enables us to arrange a wide variety of finance packages for pre- and post-war classics, both for road and race track. We can lend anything between £25k and £5m and can even provide finance for buying a classic car at auction or for undertaking a full restoration. Follow the link to find out more about financing a classic car
Can I arrange finance for multiple cars?
JBR Capital has financed multiple car purchases for many clients and this is a process we can apply equally to modern and classic cars. We can also offer equity release packages that enable you to leverage funds against an existing collection, in order to invest elsewhere or add to your garage.
What’s my classic car worth?
Keeping an eye on the market, both at auction and in the classifieds, will give you a reasonable balance in terms of your classic car’s broader value. Expert valuations are available, however, we are able to advise you on a realistic purchase price if you are looking to finance a classic car through us. The classic car market is in a state of flux and it is always worth approaching the issue of value with circumspection. Like most tradeable commodities, a classic car is only ever worth what someone is prepared to pay for it.
Can I release equity from my classic car?
Absolutely. If your classic car is valued at more than £100K, we can help you release the equity tied up in it quickly and easily. Doing this means you can make your capital work harder, even enabling you to add to your existing car collection without being forced to sell something.
How long can I finance a classic car for?
We are able to arrange numerous different financial packages and our advisers will carefully tailor each agreement to the individual client to best suit their immediate means and prospects for the duration of the loan period. Our longest finance arrangements are 60 months, but this can be adjusted at any point and many of our clients opt for considerably shorter terms.
Can I get finance for an auction?
As a private lender, we are able to arrange finance on prospective auction purchases, allowing you to bid with confidence when that dream car goes under the hammer. Even if time is tight, we can pre-approve funds, making them immediately available once your bid is successful.
What rates of interest do you practice?
This depends on a number of factors, including individual customer profiles and the age of car in question. Average rates of interest range between 7.9% and 8.9% APR for classic cars, but because JBR Capital is an independent lender that tailors every finance package to the individual, the best thing to do is give one of our advisers a call.
What happens at the end of your agreement?
There are various ways that you can proceed at the end of a finance agreement. If you have opted for a traditional hire purchase scheme on your classic car, you will have the option to buy it outright at the end of the agreed term. A lease purchase will leave you a final balloon payment to make, after which the car is all yours.
You also have the option of refinancing that balloon payment, which allows you to spread the cost of your outstanding loan or reinvest in a new agreement. Should you fancy a change or want to move your investment up a gear, you can even part exchange your current classic car for another.
Use our Classic Car Finance Calculator
Classic car marques we finance
Classic Cars We Finance
Classic Car Guides and Resources
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