Run the numbers
Set the price, deposit, term and balloon to see how a classic car agreement behaves. Change the rate to test it.
- FINANCED
- £140,000
- BALLOON
- £52,500
- INTEREST
- £49,776
- TOTAL PAYABLE
- £224,776
Illustrative only. The rate above is an assumption you can change, not a rate we have obtained. This is not an offer of finance, and it is not a representative example: your terms depend on status, the car, the structure and lender criteria.
Reading the numbers
What each lever actually does to the cost of a classic car agreement.
The deposit
Deposits on classics run higher than on modern car finance, because the lender is funding one specific vehicle rather than a model line. A larger deposit lowers the monthly payment twice over: it reduces the amount financed, and it reduces the interest charged on it across the whole term.
The term
A longer term lowers the monthly figure and raises the total cost. On an older car it also pushes the lender further into the future than it can comfortably see, which is why terms on classics are usually shorter than the five or six years common on modern cars. Drag the term slider and watch the total payable rather than the monthly figure.
The balloon
Setting a balloon to zero turns the calculation into hire purchase: you clear the whole balance and own the car outright at the end. Anything above zero is lease purchase, and that amount stays outstanding until it is settled, refinanced or covered by selling the car. The balloon is the number to stress test, because the car has to be worth comfortably more than it when the term ends.
The rate
The rate here is an assumption you control, not a quote. Real pricing depends on the lender, the car and how liquid its market is, the structure, and the borrower. Move the rate a point either way to see how sensitive your monthly payment is before you commit to a structure.
What it does not include
Documentation and arrangement fees, valuation and inspection costs, and at auction the buyer's premium and any VAT where the lot is sold on a VAT qualifying basis. Budget for those separately, because they are paid around completion rather than spread across the term.
Finance on this page is arranged for limited companies and LLPs, for sole traders and partnerships borrowing over £25,000 wholly or predominantly for business purposes, and for individuals borrowing over £60,260 who have signed a high net worth statement. Send us the details either way: cases outside that are handled through one of our regulated partners, and we tell you who before anyone contacts you.
Start the entry form