Classic Car Loans
Classic Car Loans Australia
Classic, vintage and collector vehicles represent one of the most unique finance categories in Australia. Unlike standard used car loans, classic car finance involves vehicles that often do not depreciate in the conventional sense, that require specialist valuation, and that mainstream banks and lenders frequently refuse to fund due to their age. Most mainstream lenders cap their lending at vehicles up to 10 years old. A 1969 Ford Mustang, a 1972 Holden Monaro or a 1985 Porsche 911 Carrera does not fit that criteria, and an owner-driver approaching their bank for finance will almost certainly be turned away.
Australian Finance & Loans is an independent finance broker with access to over 50 Australian lenders, including specialist classic and collector vehicle financiers who understand the market, accept vehicles of any age and assess applications based on the vehicle's provenance, condition and agreed value rather than a standard depreciation schedule. Whether you are purchasing a concours show car, a project restoration vehicle, a rare Australian muscle car, a European sports classic or an ex-racing or ex-military vehicle, we match you to the right lender before applying, protecting your credit score and giving your application the best possible chance of approval.
What is a Classic Car for Finance Purposes?
The definition of a classic car varies between lenders, insurers and car clubs. For finance purposes, the most commonly used definition is a vehicle that is at least 25 to 30 years old and maintained in a condition that reflects its original appearance and specifications. Some lenders and specialist financiers use a broader definition that includes:
Vintage vehicles: generally pre-1940, often pre-war or Veteran era cars
Classic cars: typically 25 to 40 years old, maintained in original or restored condition
Muscle cars: high-performance vehicles from the late 1960s to early 1980s, both Australian and American
Collectible vehicles: any vehicle with recognised collector value regardless of age, including limited production models
Restored vehicles: vehicles that have undergone significant authentic restoration to original or better-than-original condition
Modified classics: period-correct modified vehicles with hot rod, custom or restomod builds
Ex-racing vehicles: competition vehicles with documented racing history
Ex-military vehicles: Jeeps, Land Rovers, trucks and specialist military equipment
Rare imports: vehicles brought into Australia privately with limited local examples
For the purpose of finance, what matters most is the vehicle's current condition, the availability of an independent valuation confirming its market value, and the borrower's credit profile and ability to service the loan. We assess each situation individually rather than applying a blanket age restriction.
Classic Vehicles We Finance
Australian Muscle Cars and Classics
Holden Monaro: HK, HT, HG, HQ and HJ models, all variants including GTS 327, 350 and 350 Bathurst
Ford Falcon GTHO: Phase I, II, III and Phase IV replicas
Holden Torana: GTR, GTR-X, A9X and SL/R 5000 models
Chrysler Valiant: Charger R/T E38, E49 and Pacer models
Ford Falcon XY, XW, XA and XB GT models
Holden HQ, HJ, HX Monaro and Kingswood SS variants
VB, VC, VH and VK Commodore SS and Group A variants
Ford Sierra RS Cosworth, Escort RS2000 and Capri GT
Classic Australian utes: Holden and Ford muscle utes from the 1970s and 1980s
American Classics and Muscle Cars
Ford Mustang: 1964 to 1973 first and second generation models, Boss 302, Mach 1, Shelby GT350 and GT500
Chevrolet Camaro: 1967 to 1969 first generation, SS, RS, Z/28 and COPO models
Pontiac GTO, Trans Am and Firebird: 1964 to 1981 classic era
Chevrolet Corvette: C1 through C4 generations
Dodge Challenger, Charger and Plymouth Barracuda: 1969 to 1971 peak muscle era
Ford Thunderbird: 1955 to 1957 original two-seater and later classic generations
Buick, Oldsmobile, Cadillac and Lincoln: 1950s and 1960s full-size American classics
European Sports Cars and Classics
Porsche 911: 1964 to 1994 air-cooled generations including Carrera, SC, Targa and Turbo
Ferrari: 308, 328, 348, Dino 246 and earlier classic models
Lamborghini: Countach, Espada, Urraco and Jalpa
Mercedes-Benz: W113 Pagoda, W108, 300SL Gullwing, 450SL and early AMG models
BMW: 2002, E30 M3, M535i, E28 M5 and earlier 02 Series
Jaguar: E-Type, XKE, Mark II, XJ6 and XJS
Aston Martin: DB4, DB5, DB6, DBS and V8 Vantage classic era
Alfa Romeo: GTV, Spider, Giulia Sprint and Montreal
Triumph: TR2 through TR6, Stag and Herald
MG: MGA, MGB, MGC and Midget models
Lotus: Elan, Europa and Elite classic period
Classic Japanese Vehicles
Toyota 2000GT and Celica GT-Four ST185 and ST205
Nissan Skyline GT-R: Hakosuka (C10), Kenmeri (C110), R30, R31, R32, R33 and R34
Honda NSX: NA1 and NA2 generation (1990 to 2005)
Mazda RX-7: SA22C, FB, FC and FD generations
Datsun 240Z, 260Z and 280Z
Toyota Land Cruiser: FJ40, FJ45, FJ55 and HJ47 classic era
Mitsubishi Pajero: early NA and NB generation collector models
Other Collector and Specialist Vehicles
Ex-racing vehicles: circuit cars, rally cars and hillclimb specials with documented history
Ex-military vehicles: Jeep Willys, Land Rover Defenders, Unimogs and military trucks
Vintage commercial vehicles: pre-war and post-war trucks, vans and buses
Vintage motorcycles: pre-1980 classic bikes from all major marques
Kit cars and replicas: Cobra, GT40, Lotus 7 and similar builds
Project cars and restoration projects where the vehicle has clear provenance and recovery value
Why Classic Cars Require Specialist Finance
Classic cars present unique challenges for lenders that do not apply to standard new or used car loans. Understanding these challenges is important before you approach any finance provider.
Standard Lenders Cannot Finance Them
Most banks and mainstream lenders apply a maximum vehicle age of 7 to 15 years. A classic car of 25 to 80 years old does not meet this criterion and is simply declined regardless of the vehicle's value or the borrower's financial strength. Approaching a mainstream bank for classic car finance without knowing this will result in a declined application and a credit inquiry on your file that serves no purpose. We only apply to lenders who are set up for classic vehicle lending before submitting your application.
Valuation is More Complex
Standard car valuation tools such as Redbook and Glass's Guide do not accurately reflect the value of classic, rare or highly original vehicles. A 1969 Holden Monaro GTS 350 in concours condition is worth significantly more than a standard Redbook comparison would suggest. Specialist classic car lenders understand this and use independent valuations from qualified specialists rather than relying on standard valuation databases. An independent professional valuation is typically required before settlement for any classic vehicle above $30,000 to $40,000.
Classic Cars Do Not Depreciate Conventionally
Well-maintained, original or correctly restored classic vehicles often appreciate in value over time rather than depreciating. This fundamentally changes the risk profile of the loan from a lender's perspective. Specialist classic car lenders price their products accordingly. A vehicle with a proven track record of appreciation and a documented service and ownership history can attract better lending terms than a generic old car with unknown provenance.
Insurance Must Be Appropriate
Standard comprehensive car insurance using market value policies is inappropriate for classic vehicles. If a classic car is written off under a market value policy, the payout may be a fraction of what the vehicle is worth to a collector. Classic vehicles must be insured under an agreed value policy where the insured amount is set by agreement between the owner and the insurer, based on an independent valuation. Most specialist classic car lenders require evidence of agreed value comprehensive insurance before settlement. We can connect you with specialist classic car insurers as part of the finance process.
Finance Structures for Classic Vehicles
Secured Classic Car Loan
A secured loan uses the classic vehicle as collateral, giving the lender security and resulting in lower interest rates than unsecured alternatives. For a lender to accept a classic car as security, the vehicle must typically be registered, roadworthy and independently valued. Not all lenders accept every classic car as security. Specialist classic car lenders with experience in the collector market are more likely to accept a wider range of vehicles as security compared to mainstream lenders. Secured classic car loan rates are negotiated individually based on the vehicle's valuation, the borrower's credit profile and the lender's assessment.
Unsecured Personal Loan for Classic Car
An unsecured personal loan does not use the vehicle as security and is not dependent on the lender accepting the car as suitable collateral. This is the most commonly used structure for project cars, unregistered vehicles, non-running restoration projects and lower-value classic purchases. Rates are higher than secured loans but the loan can proceed regardless of the vehicle's condition or registration status. Unsecured personal loans for classic car purchases typically range from $5,000 to $100,000.
Asset-Backed Lending
For high-value classic car purchases where the buyer has significant assets but complex or limited income documentation, some specialist lenders assess the loan based on the borrower's overall asset position rather than income alone. This is sometimes called asset-backed or low-doc classic car lending. It is particularly relevant for retirees, high-net-worth individuals and business owners whose income may not be easily documented through standard payslips but who have substantial asset backing. Contact us to discuss whether asset-backed lending is appropriate for your situation.
Chattel Mortgage for Business Classic Car
If a classic vehicle is being acquired for genuine business purposes, such as for use in a promotional, advertising or display capacity, or as a business investment asset, a chattel mortgage may be available. The ATO requires that the vehicle be used for business purposes. Business owners acquiring classic cars for personal collection purposes would not qualify. We advise on the appropriate structure based on your specific intended use.
Buying Classic Cars: Where and How Finance Works
Buying from a Classic Car Dealer
Specialist classic car dealers including Dutton Garage, Lloyds Auctions, Premium Cars and private restoration specialists can arrange finance or work with broker-arranged finance. Dealer-sourced classic vehicles typically come with more documentation including service history, provenance paperwork and often independent valuations, all of which strengthen a finance application. Settlement can proceed once the lender has reviewed the vehicle documentation and approved the valuation.
Buying from a Private Seller or Collector
Private sales represent a large proportion of classic car transactions in Australia as many of the best vehicles are in the hands of private collectors who do not sell through dealers. Private sale classic car finance requires a PPSR check, a written contract of sale, and in most cases an independent valuation from a qualified specialist appraiser. We guide you through the full documentation process. Pre-approval before approaching a private seller is strongly recommended so you have a confirmed lending limit when negotiating.
Buying at Auction
Classic car auctions including Lloyds, Shannons and Silverstone Auctions are a primary marketplace for collector vehicles in Australia. Auction purchases are binding once the hammer falls, which means pre-approval is essential before you bid. We arrange pre-approvals for auction buyers with a confirmed spending limit. The lender may still require a valuation after the auction purchase to confirm the sale price is consistent with the vehicle's assessed value. We advise on how to structure this before your auction date.
Importing a Classic Car
Some of the most desirable classic vehicles are imported from the United States, United Kingdom, Europe and Japan. Finance for imported classics is available through specialist lenders on our panel. The vehicle must meet Australian compliance requirements, have a VIN and be properly registered before most lenders will settle. Some lenders will provide a conditional approval before the vehicle arrives in Australia, allowing the purchase to proceed offshore while finance is being finalised. Contact us early in your import process to plan the finance alongside the compliance and registration process.
Restoration Finance: Funding a Project Car
Financing a classic car restoration is different to financing a finished vehicle. Most secured car loans require the vehicle to be registered and in a condition acceptable to the lender as security. An unregistered shell or a partially completed restoration project typically does not meet secured loan criteria.
Options for Restoration Projects
An unsecured personal loan is the most flexible option for funding a restoration project, as it is not dependent on the vehicle's current condition or registration status. The loan is assessed on your income and credit profile rather than the vehicle itself. Loan amounts up to $100,000 are typically available unsecured for well-qualified borrowers. For larger restoration budgets, some lenders will consider the project vehicle as partial security alongside another asset such as a completed classic vehicle or a property.
Staged Finance for Restoration
Some buyers fund a restoration in stages, using an initial unsecured loan to acquire the project vehicle and then refinancing onto a secured classic car loan once the restoration is complete, the vehicle is registered and an independent valuation can be obtained. This approach is sensible when the restoration will significantly increase the vehicle's value. We can structure the initial acquisition finance with this refinance pathway in mind. Contact us to discuss how to plan your restoration finance from acquisition through to completion.
What Restoration Costs Can Be Financed?
An unsecured personal loan can be used to fund the acquisition of a project vehicle and related costs including parts sourcing, workshop labour, specialist panel beating, chrome and trim restoration, engine rebuilds and period-correct upholstery. A secured loan is typically limited to the vehicle purchase price. If you are planning a significant restoration alongside the acquisition, an unsecured loan sized to cover both the purchase and the restoration budget is often the most practical approach.
Classic Car Finance and the Investment Angle
A growing number of Australian buyers are acquiring classic vehicles as investment assets rather than purely for enjoyment. Blue-chip classic cars from certain marques and eras have delivered returns that rival or exceed equities and property in recent decades. Finance can amplify investment returns where the cost of the loan is lower than the rate of appreciation of the vehicle. Here is what investors need to understand.
Which Classic Cars Appreciate Most?
Market research from auction houses and dealer data consistently shows that the strongest appreciation is seen in vehicles with original matching numbers components, documented ownership and service history, low kilometres or mileage, original unrestored condition or correct concours-level restoration, and rarity. For Australian muscle cars, Holden Monaro GTS 350 and HQ SS models, Ford Falcon GTHO Phase III, Chrysler Valiant Charger E49 and Torana A9X represent some of the strongest historical performers. For European vehicles, pre-1975 air-cooled Porsche 911 models, early Ferrari V8 models and original Jaguar E-Types have shown consistent long-term appreciation. Market conditions change and past performance does not guarantee future returns. We always recommend independent specialist advice before purchasing a classic car as a primary investment.
Finance as an Investment Tool
Using finance to acquire a classic car means you are preserving your liquid capital for other uses while the asset works for you. If a vehicle appreciates at 8% to 12% per year and the cost of finance is 7% to 10% per year, finance can enhance your overall return on the investment. However, this calculation only holds if the vehicle genuinely appreciates as expected, which requires careful selection, condition assessment and market knowledge. Acquiring the wrong vehicle at the wrong price with finance is a poor outcome regardless of the vehicle category.
Classic Car Loan Details
Loan Amount
We arrange classic car finance from $5,000 for entry-level project vehicles up to $500,000 and above for rare, exceptional or blue-chip collector cars. The loan amount is assessed against the vehicle's independent valuation, not just the purchase price. For vehicles where the purchase price is significantly below market value, such as a private acquisition below guide price, the lender may be willing to lend based on the valuation rather than the purchase price.
Loan Term
Classic car loans are available over 1 to 7 years for most lenders. Some specialist lenders extend to 10 years for high-value concours vehicles. Most buyers choose 3 to 5-year terms. For investment-focused acquisitions, some buyers prefer shorter terms to minimise total interest cost given the vehicle's expected appreciation.
Interest Rates
Interest rates for classic car loans are individually negotiated based on the vehicle's condition, provenance and valuation, alongside the borrower's credit profile. Rates are typically higher than standard new car loans, reflecting the specialist nature of the lending and the additional assessment involved. Well-qualified borrowers purchasing documented, high-value classic vehicles from reputable sources typically attract more favourable rates than buyers of project cars or vehicles with limited documentation. We negotiate on your behalf across our specialist lender panel to find the most competitive terms for your specific vehicle.
Deposit
Deposit requirements for classic car loans vary by lender and vehicle. Some specialist lenders offer financing without a deposit for strong applicants purchasing well-documented vehicles. Others require a deposit of 20% to 30% for higher-risk vehicles or complex credit situations. A larger deposit reduces the lender's exposure and can improve both the rate and the approval terms for borderline applications.
Independent Valuation
An independent professional valuation from a recognised classic car specialist is required by most lenders for vehicles above $30,000 to $40,000. The valuation confirms the vehicle's market value, originality and condition. Suitable valuers include members of the Australasian Veteran, Vintage and Classic Car Association, specialist auction houses with valuation services, and experienced classic car dealers with demonstrated market knowledge. We advise on suitable valuers at the time of your application.
Classic Car Insurance: What You Must Know Before Finance Settlement
Classic car insurance is a specific requirement for finance settlement and it is materially different to standard comprehensive insurance. Getting this wrong can affect both your finance approval and your financial protection if the vehicle is damaged or written off.
Agreed Value vs Market Value Cover
Standard comprehensive car insurance is typically written on a market value basis, meaning the insurer pays what the car was worth in the general market at the time of the loss. For a classic car, this figure can be far below what you paid or what the car is worth to a collector. Agreed value insurance sets a specific insured amount by prior agreement between you and the insurer, based on an independent valuation. If the car is written off, the insurer pays the agreed amount in full. All specialist classic car finance lenders require agreed value comprehensive insurance as a condition of settlement.
Classic Car Insurance Providers in Australia
Specialist classic car insurers in Australia include Shannons, Hemmings, AIR Insurance, Lumley Special Vehicles and others. These policies typically include limited kilometre allowances suited to vehicles driven occasionally, agreed value cover, spare parts cover, and in some cases trailer cover for vehicles transported to shows. Premium costs vary based on the agreed value, your driving history, where the vehicle is stored and how often it is driven.
Concession Registration
Each Australian state and territory offers a concessional registration scheme for eligible classic and historic vehicles used on a limited-use basis. In Victoria, vehicles 25 years and older may qualify for Club Permit registration through an approved car club, allowing limited road use at significantly reduced registration cost. Similar schemes exist in all other states. These schemes typically require club membership and restricted mileage use. Finance lenders generally accept vehicles registered under concessional schemes provided the registration is current and insurance is in force.
Frequently Asked Questions About Classic Car Loans in Australia
Can I get a loan for a car that is 30, 40 or 50 years old?
Yes. Specialist classic car lenders on our panel have no vehicle age restrictions. A 1955 Mercedes-Benz Gullwing, a 1969 Ford Mustang Mach 1 or a 1932 Ford Coupe can all be financed provided the vehicle has an independent valuation confirming its market value, the buyer has a suitable credit profile and the vehicle is insured under an agreed value policy. Mainstream banks will decline these applications. We match you to specialist lenders who are set up for exactly this type of vehicle.
Do I need an independent valuation to get classic car finance?
For secured classic car loans on vehicles above $30,000 to $40,000, most specialist lenders require an independent professional valuation from a recognised classic car specialist. The valuation confirms the vehicle's market value, originality and condition. For lower-value vehicles or unsecured personal loans, a valuation is not always required. We advise on the specific requirement based on the vehicle, the loan amount and the lender's criteria at the time of your application.
Can I get finance for a project car or unregistered restoration vehicle?
Yes, through an unsecured personal loan. Most secured car loans require the vehicle to be registered and roadworthy. An unregistered project or restoration vehicle does not meet secured loan criteria. An unsecured personal loan funds the purchase based on your income and credit profile rather than the vehicle's current condition. Loan amounts up to $100,000 are typically available unsecured. Once restoration is complete and the vehicle is registered and valued, refinancing onto a secured classic car loan at a lower rate is often possible.
Can I get pre-approval before attending a classic car auction?
Yes, and we strongly recommend it. Auction purchases are binding once the hammer falls. Pre-approval gives you a confirmed spending limit before you bid and removes the risk of winning a lot and then being unable to arrange finance. We arrange pre-approvals for buyers attending Lloyds, Shannons, Silverstone and other classic car auctions regularly. The lender may require a post-auction valuation to confirm the purchase price is consistent with market value before formal settlement, but the pre-approval gives you the confidence to bid.
What types of classic cars have no vehicle age limit for finance?
Specialist classic car lenders on our panel have no vehicle age restriction. This means vintage pre-war vehicles, veteran era cars, 1950s classics, 1960s muscle cars, 1970s sports cars and any other collector vehicle can be considered regardless of age, provided the vehicle has a current independent valuation and the buyer meets the lender's credit criteria. This is a significant distinction from mainstream lenders who apply hard age caps of 7 to 15 years.
Can I finance a classic car imported from overseas?
Yes. Imported classics including right-hand drive Japanese domestic market vehicles, American left-hand drive muscle cars and European classics are financed by specialist lenders on our panel. The vehicle must be properly complied, have a VIN and be registered in Australia. Some lenders will provide conditional approval before the vehicle arrives, allowing the offshore purchase to proceed. We advise on the finance and compliance timeline at the start of the import process.
Can I include restoration costs in my classic car loan?
Under a secured car loan, the loan is typically limited to the vehicle purchase price. For restoration costs above the purchase price, an unsecured personal loan sized to cover both the acquisition and the restoration budget is the most practical approach. Some buyers take a two-stage approach: unsecured loan for the acquisition and initial restoration, then refinance onto a secured classic car loan once the vehicle is complete, registered and valued at a higher figure. We plan the finance structure with this pathway in mind where relevant.
Do classic cars require special insurance for a loan?
Yes. All specialist classic car finance lenders require agreed value comprehensive insurance as a condition of settlement. Standard market value insurance is not acceptable for classic car finance. Agreed value insurance sets a pre-agreed payout amount based on an independent valuation, ensuring you receive the full agreed value if the vehicle is written off. Specialist classic car insurers in Australia include Shannons, Hemmings, AIR Insurance and Lumley Special Vehicles. We can connect you with appropriate insurers as part of the finance process.
Can I get classic car finance through my SMSF?
Acquiring a classic car through a self-managed super fund is subject to strict ATO requirements under the collectables and personal use assets rules. From July 2016, collectables and personal use assets including cars are prohibited investments for SMSFs unless they meet specific conditions: they must not be used by a fund member or related party, they must be stored in a manner consistent with the investment policy, they must be insured in the fund's name within seven days of acquisition, and they must not be leased to a related party. Given these restrictions, most SMSF trustees do not hold classic cars. We strongly recommend specialist SMSF legal and tax advice before considering any collectibles purchase through a fund.
How is a classic car loan different from a standard used car loan?
A standard used car loan is available from most lenders for vehicles up to 10 to 15 years old using standard valuation tools. A classic car loan uses specialist lenders with no age restriction, requires an independent professional valuation rather than standard tools, accepts vehicles that do not depreciate conventionally, and is typically assessed based on the vehicle's provenance and condition alongside the borrower's credit profile. Classic car loans also require agreed value insurance rather than standard market value insurance.
What Australian muscle cars can I finance?
We arrange finance for all Australian muscle car models including Holden Monaro HK, HT, HG, HQ and HJ models, Ford Falcon GTHO Phase I, II, III and associated GT models, Chrysler Valiant Charger E38 and E49, Holden Torana GTR-X and A9X, and all associated performance variants. These vehicles are among the most valuable and sought-after classics in the Australian collector car market. Specialist lenders familiar with the Australian muscle car market assess these vehicles based on their actual collector market value, not a standard depreciation model.
Can I refinance an existing classic car loan?
Yes. If your current classic car loan rate is no longer competitive, or if the vehicle has appreciated in value since the original loan and an updated valuation supports a better loan-to-value ratio, refinancing through a specialist lender on our panel may reduce your rate and lower your repayments. We assess your current loan, the vehicle's current market value and your credit position to confirm whether refinancing delivers a genuine saving.
What documents do I need for a classic car loan application?
For a standard application: a valid Australian driver's licence, proof of income, and an independent professional valuation of the vehicle. For private sale purchases: a PPSR check result, a written contract of sale between buyer and seller, and agreed value insurance confirmation. For auction purchases: the auction result and the lender's post-auction valuation process. For imported vehicles: compliance and registration documents. We tell you exactly what is required once we have identified the most suitable lender for your specific vehicle and situation.
Can I get a classic car loan if I have bad credit?
Yes, in many cases. Specialist classic car lenders on our panel assess applications from borrowers with impaired credit including prior defaults, missed payments or a short credit history. The strength of the vehicle's valuation and documentation can partially offset credit concerns for specialist lenders. Rates will be higher than for prime borrowers but approval is achievable in many circumstances. We assess your position and identify the most appropriate lenders before submitting any application.
Why Choose Australian Finance & Loans for Classic Car Finance
Independent broker: we compare 50+ lenders including specialist classic and collector vehicle financiers
Access to lenders with no vehicle age restrictions: any era, any marque, any condition category
Deep understanding of the classic car market including Australian muscle cars, European sports cars and American classics
Guidance on independent valuation requirements and suitable specialist appraisers
Assistance with agreed value insurance as part of the finance settlement process
Pre-approval available before visiting dealers or attending classic car auctions
Financing available for restoration projects through unsecured personal loan structures
Transparent advice on investment versus enjoyment vehicles and how each affects finance structure
Fast approvals: most applications receive conditional approval within 24 to 48 hours
Melbourne-based team with national reach across all states and territories
