Vintage cars are those made before 1905, Edwardian cars were built between 1905 and 1918, while veteran cars were those manufactured between the years 1919 and 1930.
So where does that leave classic cars? In fact, explains the website GB Classic Cars, classic cars may include all of the above and many more besides. There is simply no hard and fast definition of a classic car in the UK.
Put another way, a classic car is a machine of beauty and distinction – special in the eyes of the beholder – and every motoring enthusiast is likely to have their own definition, argued the Telegraph newspaper on the 15th of March 2018.
Just as the term embraces a whole range of different vehicles, so this is also reflected in the many and varied forms of classic car finance UK.
Whichever way you look at it and however you choose to define a classic car, there is no doubt that each one is a unique vehicle. They are few and far between – in a class of their own.
Classic car finance in the UK, therefore, also needs to reflect the unique character of the vehicle you are intending to buy. Just like the vehicle itself, the finance may be peculiar to – a bespoke version of – the finance used for the purchase of other cars. For that, you are likely to need the expertise and experience of a car finance provider who specialises in funding for such vehicles.
A specialist provider recognises the particular characteristics of the classic car market in the UK, the fact that the vehicles are going to be few and far between, the relatively limited opportunities you might have to snap up the particular classic you are after, and the need, therefore, to be able to arrange the finance quickly enough for you to seal the deal when the chance arises.
The classic car you choose may be a higher-end vehicle with a stronger than usual residual value – simply due to the fact that it is a classic. In this market, therefore, the finance needs to rise to the higher prices commanded by classic vehicles, yet still remain competitively-priced, so that your monthly repayments remain affordable. By the same token, you might also need the flexibility of choosing an early settlement of your finance arrangements – if that is what you choose – and a choice from a range of different financing models.
You might want to concentrate your efforts on scouring every corner of this niche market for the particular classic car to satisfy your dreams.
By choosing a specialist finance provider, you may then leave the question of funding that purchase up to those who also know the market best. Finance providers who are able to compare deals from a wide range of different lenders and who may also suggest different forms of car finance to meet your particular needs and circumstances.
Those quotes reflect the way in which the finance may be tailored to meet your needs – rather than trying to bend your requirements into the straight jacket of just a few finance options. That is where a specialist classic car finance provider differs from your high street bank, for example, or from the classic car dealer who offers a narrow range of choices from the dealership’s finance partners only.