HomeFinanceTop 5 Classic Car Loans in the UK

Top 5 Classic Car Loans in the UK

Are you a classic car enthusiast dreaming of owning your very own vintage beauty? Well, you’re not alone! Classic cars hold a special place in the hearts of many car lovers with their timeless designs and nostalgic charm.

But let’s face it, these beauties often come with a hefty price tag. That’s where classic car loans come into play – offering you the opportunity to fulfil your dream without breaking the bank.

In this blog post, we’ll explore everything you need to know about classic car loans in the UK, including where to find the top 5 lenders who can help turn that dream into a reality. So buckle up and get ready for an exhilarating ride through the world of classic car financing!

What are Classic Car Loans?

What are Classic Car Loans?

Classic car loans, true to their name, offer specialized financing tailored specifically for acquiring those timeless treasures known as classic cars. These loans open up an affordable avenue for individuals to turn their dream of owning a vintage vehicle into a reality. Unlike conventional auto loans that hinge on the current value of a car, classic car loans consider the distinctive qualities and potential appreciation of these automotive gems.

A standout feature of classic car loans is their extended loan terms. Unlike typical auto loans with terms ranging from three to seven years, classic car loan terms can stretch up to an impressive 10 or even 12 years. This extended timeline empowers borrowers to manage their payments over a more prolonged period, potentially leading to reduced monthly instalments.

While interest rates on classic car loans may fluctuate based on factors like the borrower’s credit score and financial history, as well as the lender’s policies, it’s important to note that interest rates for classic car financing generally lean slightly higher than those for new or used vehicles. This is attributed to the unique nature and limited availability of these vintage automobiles.

In essence, classic car loans offer enthusiasts a pragmatic solution for realizing their dream of owning a vintage automobile without the need for a substantial upfront cash investment. With the flexibility of longer loan terms and personalized financing options from a variety of lenders in the market today, achieving ownership of your very own piece of automotive history has never been more within reach!

So fasten your seatbelt securely – we’re gearing up for our next exciting journey: exploring the top-notch lenders who specialize in delivering exceptional services for financing your cherished set of wheels!

Can You Get Finance on a Classic Car?

The good news is a resounding yes! Delving into the world of vintage automobiles with financial support is entirely feasible, turning your aspirations of owning that exquisite vintage vehicle into a joyful reality.

Financing a classic car involves considering various factors. Lenders take into account the age, condition, and value of the vehicle, alongside evaluating your credit score and financial standing when processing your loan application.

Opting for finance on a classic car is made even more accessible through specialized lenders catering specifically to vintage car enthusiasts. These lenders comprehend the unique charm of classic cars and offer customized loan packages featuring competitive interest rates.

Alternatively, you can explore the option of securing an unsecured personal loan from a traditional lender or bank. While not expressly designed for classic car purchases, this avenue can still furnish you with the financial means to realize your dream acquisition.

So, if you’ve set your heart on possessing that coveted piece of automotive history but find yourself short on upfront funds, there’s no need to worry! Numerous options exist to transform your dreams into reality. Just ensure you conduct thorough research on different lenders and select one that aligns perfectly with your needs and budget. The road to owning your dream classic car is brighter than ever!

What is the Longest You Can Finance a Classic Car?

What is the Longest You Can Finance a Classic Car?

When it comes to financing your dream classic car, you have the exciting option of choosing a loan term that aligns with the long-term value of these timeless vehicles. Many lenders recognize the enduring appeal of classic cars and generously provide extended loan terms. In fact, most classic car loans offer repayment periods ranging from 5 to 10 years.

Embracing a longer loan term isn’t just about stretching out payments—it’s a strategic move that can significantly reduce your monthly repayments. This means that owning your cherished classic car becomes not only a dream come true but also a financially manageable journey.

By opting for this extended timeframe, you not only make the process more affordable but also gain the luxury of time to fully savour and appreciate your prized possession. No need to feel rushed or burdened by high monthly payments – it’s all about relishing the joy of your classic car ownership experience.

What Age Is a Car Classed as Classic?

Deciding when a car earns its classic status is a matter of personal perspective and can be influenced by various factors. Nevertheless, in a positive light, many car enthusiasts share the belief that a vehicle truly embraces its classic charm at approximately 40 years old.

As cars reach this milestone, they not only acquire historical significance but also start to stir feelings of nostalgia among collectors and enthusiasts alike. Their appeal grows stronger thanks to distinctive designs, rarity, and the invaluable historical narrative they carry. Vintage automobiles from the 1960s or earlier are frequently celebrated as classics, irrespective of their precise age.

Top 5 Classic Car Loans in the UK

Top 5 Classic Car Loans in the UK

When it comes to financing a classic car in the UK, there are several lenders that specialize in providing loans for these timeless beauties. Whether you’re looking to restore a vintage gem or add an iconic model to your collection, these top 5 classic car loan providers can help make your dreams a reality.

1. Norton Finance

Norton Finance is dedicated to making your dream classic car ownership experience just as delightful as cruising in your dream ride. Offering competitive terms with interest rates starting at just 6.7%, they’ve made sure that your investment is not just a passion but an affordable one, too. Whether you’re an experienced collector or a first-time classic car enthusiast, Norton Finance is committed to ensuring that the financial aspect of your journey is as smooth as the joyous ride itself.

Emphasizing the importance of flexibility in classic car loans, Norton Finance goes above and beyond. With loan limits ranging from £3000 to £100,000, they accommodate a wide array of enthusiasts.

Whether you have your sights set on a fully restored vintage gem or a project car in need of some TLC, Norton Finance has got your back. This expansive range ensures that your budget effortlessly aligns with your automotive passion, making your dream car more accessible than ever.

Website: https://www.nortonfinance.co.uk/loans/classic-car-loans

Contact: 0808 303 9824

2. Pegasus Finance

Pegasus Finance joyfully embraces its role as your reliable partner in the thrilling adventure of owning a classic car! Whether you’re dreaming of a lovingly restored vintage masterpiece or a rare collector’s treasure, Pegasus Finance recognizes that the financial aspect is a vital component of this exciting journey.

With an expansive loan limit spanning from a cheerful £5,000 to an impressive £1 million, Pegasus Finance is dedicated to meeting the diverse needs of classic car enthusiasts. This remarkable flexibility ensures that both seasoned collectors and newcomers alike can discover customized financing solutions that perfectly match their aspirations. Embrace the joy of classic car ownership with Pegasus Finance by your side!

Website: https://www.pegasusfinance.co.uk/classic-car-finance/

Contact: 0800 066 2882

3. Creditplus

Discover the incredible benefits of Creditplus’s classic car loans, highlighted by the fantastic Representative APR of just 24.9%! This means that realizing your dream of owning a stylish roadster or a charming convertible is not only within reach but also remarkably affordable.

The Representative APR takes into account all aspects of borrowing, including the interest rate and additional fees, ensuring complete transparency. With Creditplus, you can embark on your classic car ownership journey with a clear understanding of the financial commitment.

Creditplus embraces flexibility as a key principle because we understand that your dream classic car may vary in shape, size, and, of course, price tags. Our loan limits, ranging from £50 to £2000, are designed to cater to a diverse range of classic car enthusiasts.

Whether you’re restoring a vintage gem or aiming for a showstopper, Creditplus is dedicated to covering all your financial needs. Your dream classic car is closer than you think, and Creditplus is here to make it a reality with ease and affordability!

Website: https://www.creditplus.co.uk/vehicles-we-finance/classic-car-finance/

Contact: 01202 684898

Email: info@creditplus.co.uk

4. Forza Finance

Forza Finance takes pride in being more than just a financial institution; they’re fellow car aficionados who share your passion for automotive history. Their classic car loans are designed to empower enthusiasts like you, offering flexible terms and competitive rates that make acquiring that iconic vehicle an achievable reality.

No two classic car dreams are alike, and Forza Finance recognizes the uniqueness of each collector’s vision. Whether you’re eyeing a sleek vintage sports car, a rugged off-road legend, or a luxury cruiser from a bygone era, Forza Finance has financing solutions that cater to your specific needs.

Beyond just loans, Forza Finance provides a symphony of services to make your classic car ownership experience seamless. From personalized consultation to comprehensive financial guidance, their team is committed to assisting you every step of the way. Whether you’re a seasoned collector expanding your fleet or a first-time buyer, Forza Finance ensures that your journey into classic car ownership is as smooth as a Sunday drive.

Website: https://www.forzafinance.co.uk/vehicle-finance/classic-car-finance

Contact: 01245 945 200

Email: hello@forzafinance.co.uk

5. Magnitude Finance

Magnitude Finance is a leading provider of classic car loans in the UK, offering tailored financing options for those looking to purchase their dream vintage vehicle. With their extensive knowledge and expertise in the luxury car market, they understand the unique needs of classic car enthusiasts.

One of the standout features of Magnitude Finance is its personalized approach to lending. They take into account each client’s individual circumstances and work closely with them to find a loan solution that suits their budget and requirements. Whether you’re a seasoned collector or a first-time buyer, Magnitude Finance can help you secure competitive financing for your classic car.

In addition to their flexible loan terms, Magnitude Finance also offers competitive interest rates. This means that you can finance your dream vintage vehicle without breaking the bank. Their team of experts will guide you through the entire process, ensuring that you have all the information necessary to make an informed decision.

Website: https://www.magnitudefinance.com/classic-car-finance/

Contact: 01943 660703

Does a Car Over 40 Years Old Need a MOT?

Does a Car Over 40 Years Old Need a MOT?

In the UK, there’s fantastic news for car owners over 40 years old! As of May 20, 2018, these vintage treasures are exempt from the mandatory annual MOT (Ministry of Transport) testing requirement. This exemption is a wonderful nod to the timeless charm of vehicles built or registered more than four decades ago, especially those that haven’t undergone substantial modifications.

It’s important to view this exemption as a celebration rather than an excuse for neglect. While vintage and classic car owners are no longer bound by mandatory MOT testing, embracing regular maintenance and safety checks is not only wise but also a joyful responsibility. Keeping your beloved vehicle in tip-top, roadworthy condition can ensure you continue to enjoy smooth rides and unforgettable journeys.

And here’s the cherry on top – even though it’s not a legal requirement, voluntarily opting for an MOT test can be a fantastic idea. This test provides an independent assessment of your classic car’s safety and mechanical condition. It’s an opportunity to showcase the enduring quality of these timeless vehicles, ensuring they not only meet but exceed modern safety standards. So, let’s continue to cherish our classic cars and keep them cruising with confidence!


Classic car loans in the UK provide a viable financing option for those looking to invest in their dream vintage vehicle. With various lenders offering competitive rates and flexible loan terms, it is now easier than ever to turn your passion for classic cars into reality.

Whether you choose Norton Finance, Pegasus Finance, Creditplus, Forza Finance, or Magnitude Finance, each lender has its own unique offerings and benefits. It’s important to do thorough research and compare different options before making a decision.


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