Can You Finance a Classic Supercar? A Guide to Specialist Loans

Owning a classic supercar is something that many motoring enthusiasts are likely to have high on their bucket list. However, for most, the funds are not often available to invest in an outright purchase. That’s where specialist loans come into play. 

As experts in classic car finance, we wanted to share a complete guide on how prospective car owners can finance options for rare and vintage high-performance vehicles. Keep reading to explore the options available.

When Is a Specialist Loan for a Classic Supercar a Good Idea?

Classic supercars will cost owners a pretty penny which is why it’s essential to consider whether taking out finance is the best option. Before taking out a specialist loan, buyers should always do their research into their desired models to ensure they are able to find vehicles that are genuine and in good working order.

Some examples of when taking out finance on a classic supercar is a good idea include when the vehicle is an appreciating asset, when owners are looking to preserve liquidity, or when the terms are favourable to their current situation (e.g. affordable payments or exit opportunities at  the end of the term.

Types of Specialist Loans Available for Classic Supercars

There are a number of finance options available for classic supercars. This includes:

• Lease Purchase Agreements – This finance option consists of a deposit and a balloon payment at the end of the agreement. Monthly payments are also required but they are often lower in cost than some other finance agreements due to the initial and ending payments.
• Hire Purchase – If you don’t want to pay a settlement fee at the end of the finance term, this option is ideal. It allows owners to pay a deposit—typically of their choosing—followed by monthly payments until the balance is fully settled.
• Personal Contract Purchase – Another option is a PCP agreement which includes a deposit and lower monthly payments but with a final payment which is representative of the vehicle’s value. This option is often the most popular when financing a classic supercar, as it allows owners to retain the most equity. To learn more, check out this article about PCP finance vs outright purchases.

How to Find Finance Options For Rare and Vintage High-Performance Cars?

While the answer to our initial question is yes, you can finance a classic supercar, that doesn’t mean all dealers offer the option. Arranging a loan for a specialist model requires a professional and knowledgeable approach, as factors such as long-term value, maintenance, and purpose of use all need to be carefully considered.

Buyers should therefore only take out finance on classic supercars from specialist lenders who understand the current and future value of a vehicle. This is a service we offer at Fast Car Finance. With all of our loans created based on industry pricing and including full verification of the classic car in question, we offer a trusted way for motoring enthusiasts to invest in their dream car.

To discuss our classic car financing, contact us.