Looking to Finance a Classic Car Through a Heritige Motor Dealerhship?
 We
all know a car lover when we meet one. We all know people who collect
great classic cars. Some are very rare specimens and others far
from it. The old beetle for example is iconic in status but you
certainly wouldn't need to take out a car loan to buy one. Then
there's the old Reliant Scimitar or Triumph TR5 and TR7 which can
also be picked up second hand for very little cash. It's a completely
different story though if you were to finance a Roles Royce Silver
Cloud 1958. Such a car loan could see you borrowing anything up
to £25,000. Purchasing a Ferrari Dino build around 1972 with
its 195bhp 2.7-litre V6 making for a 7.1 second 0-60mph dash and
a 148mph top speed. Ferrari build the Dino 206, Dino 246 and the
Dino 308 series. The Ferrari Dino 246 is possibly one of the finest
motoring experiences money can buy. A well maintained Dino 246 will
set you back around £45,000 quickly moving up to around £78,000
for a comprehensively restored, concours-quality vehicle.
Financing Collectors Cars
- Heritage Vehicle Collections - Preservation Of Classics
The Great British holiday comeback
If, perhaps, in your wildest of dreams, you managed to obtain a very large sum of money, what would you buy? The answer from the majority of people, especially the male contingency, would be a car. Not just any car, (unlike many of us, you're not content with just getting from A to B), but an expensive, (not entirely suitable for UK roads or speed restrictions), super charged, (massive fuel consumption and therefore not very green), James Bond type, collectors car. There are a few examples which spring mind.
The first is the Aston Martin DB5 which featured in the movie Goldfinger. The real Aston Martin DB5 is a true prestige collectors cars which at the time has a reported top speed of 143mph and a with a 4.0-litre 280+bhp straight six cylinder engine. A car of true beauty equally to any red blooded male both in the 60's and 2008
Second is the Jaguar D-type first build in 1955. It was a 3.4-liter Jaguar D-Type two-seater. This incredibly rare exquisite and highly prized collectors set a new world record auction price for an Invicta sports car at the Goodwoods Car Sale in July 1008 fetching a whopping $4.4 million and was sold through the World famous Bonhams auction house
The Third would be the Ford Shelby which first rolled off the production line in the 60's. The Shelby Mustang is a pure performance pony car. It was originally a series of Ford Mustangs which were specially modified by Carroll Shelby's company and sold as a series. The FORD Motor Company was at the time struggling with sales and finance was a huge problem for Ford at the time. Ford had never taken a big enough leap of faith with product design but this all changed when Ford Motor Company commissioned Carol Shelby to design a production version muscle car for them. Carol Shelby was already famous as a racing driver.
In at fourth is the Aston Martin Vanquish also featured in a Bond Movie - Die Another Day. Madonna the singer superstar who now lives here in London with husband Guy Ritchie. Madonna born a catholic converted to the Kabbalah faith, a faith which is growing in popularity with many of the rich and famous celebrities. Guy and Madonna were married Skibo Castle in Scotland in December, 2000. The century old, 7,000 acre estate was built on the former site of a Viking settlement! In the 007 movie the Aston Martin Vanquish was destroyed in a spectacular high speed crash which cost the destruction of around 4 or 5 of these cars to complete the filming sequence! Car lovers such as myself brought to tears seeing such wonton destruction of one of the most luxurious sport touring cars on our roads today.
The Ferrari 250 GTO was a first and foremost a race car built for the GT series. Then a sports car after that. Modeled on the 250 GT made by Ferrari in the early 1960s. GTO stands for "Gran Turismo Omologato" which was very clever of Ferrari as it was the clever use of this name that helped enable Ferrari to enter the 250 GTO into motor racing which at the time was exclusively the domain of mass production cars and not purpose build race cars. The 250 GT series was a true mass production car unlike the 250 GTO which is said to have been hand built. The Ferrari 250 GTO is possibly one of the Greatest Ferraris of all time and it is estimated that a perfect example of 1 of 29 that were only ever build could fetch a car lover a staggering £4,500,000.
Are these cars solely the dreams of the rich & famous? No, not necessarily. There are many collectors in this world, many of whom are not rich, nor famous, just completely smitten by the "motorized road vehicle designed to carry a small number of people" (Collins Dictionary definition) and they collect them for various reasons, ranging from being the centre of attraction to making a long term investment.
Many astute collectors of fine cars have purchased complete wrecks and after years or months of rebuilding the very same cars are then ready for re sale at auction. These are the collectors who are more likely to have had experience as mechanics or body shop work. This type of restoration collector if you will has been glamorized by programs on television such as custom my ride and bangers to riches etc. Although these programs make it look easy, the truth is that this is far from reality. Buyers who take these "project cars" on need fairly deep pockets and it also helps if they are well connected when it comes to locating spares as although parts from a Triumph Dolomite might be easy to come by other more exotic heritage cars are not. One tactic these collectors use to overcome this problem is to purchase two cars and build one from the materials they borrow from the second. This car is called the donor car.
For the records, cars built after 1972 do not qualify for car tax exemption as the laws were changed some time ago now and so if you are able to pick up a pre 1972 classic, you could be in for saving a small fortune in car tax savings too.
Imagine, having a gleaming Aston Martin Vanquish taking centre stage in the garage, driving contently around, everybody looking at you in your classic styles executive and very iconic car - you would love it and don't even try to deny that! Or perhaps you simply buy a collectors car to keep you tinkering, you always wanted to be a mechanic or are a good one, completing the car to your personal specifications, adding to the already impressive body styling perhaps & adding a few bhp to that performance engine. Many find it makes them happy enough to simply polish an already and most often the case today far more powerful motor than found in the modern day equivalent. Having one of these vintage cars can also enable you to relive the nostalgia behind them & their era, bringing back favourite memories of your childhood & early adulthood, maybe it's only now that you have been able to fulfil your dream of having that nostalgic car. Whatever reason it is that someone has a collector's car, it will almost certainly also be an asset, an investment for them. The value of any of the classic cars will very rarely depreciate. The market is more often than not quite lucrative, as it is one in which there will always be something available, or a once in a lifetime purchase.
Communities of classic car enthusiasts are vast & wide, ranging from county to national, international, online clubs & magazine forums, race days & show events Many auctions are for public attendance, however there are a few prestigious & exclusive auctions that are, by invitation only. Needless to say, that these are purely for the very wealthy or avid of collectors. Where ever you are in the world, you can be pretty certain that you are within close proximity to an occasion. All of which will expand your world, knowledge & pure enjoyment of this wonderful, popular pastime, from parts & accessories to old magazines & photos. The list is both endless & gratifying
Before You borrow Money Always Consider Your Circumstances:
As with everything there are more options to hand, so you must consider your circumstances, affordability and practicality of financing your vehicle. If you are still in a quandary, why not read our other finance related articles for tips on the finance industry for further information, for here at HSL Vehicle Finance we cover car loans for prestige cars, asset finance, motorcycle and much more so why not let us give you a great deal on your next vehicle loan. To view what we can offer you, visit http://www.hslfinance.co.uk/pages/hire_purchase.lasso
Apply Online
HSL use a range of lenders to help secure the finance you need. When we get you accepted, we'll liaise directly with the dealer and
arrange for you to visit them to sign the documentation. Within a few days we'll be able to pay the dealer and you will be able to
drive away in your new car. CLICK HERE TO APPLY ONLINE
To qualify for our help if you have been Refused Car Finance elsewhere
you will need to be:
- at least 18 years old
- Have Permanent Employed or be Self Employed
- A full UK resident with your main residency being in Britain
You will also need to have the following:
- A full UK drivers license
- Proof of income
- Proof of address
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