The post discusses how iCREDIT facilitates specialist finance for owning classic, imported, or unique cars, which often fall outside standard loan criteria.
- Covers vintage, imported, unique vehicles.
- Secured or unsecured loan options.
- Standard loans are often unsuitable.
- Offers flexible terms, covers added costs.
- Application requires a car history profile.
Everybody loves the idea of owning a classic, imported or unique car, but they do not come cheaply. Moreover, it is often assumed that getting financing for such vehicles is too challenging, so most people do not even try.
If you want to get approved for an import car loan, iCREDIT can make it easier. We can help you find good deals on specialist classic car finance in Australia so you can have your dream car now.
Kinds of Cars That Qualify for Specialist Financing
Specialist auto car finance covers those vintage, classic, muscle, restored, imported or unique cars that you have always dreamed of owning.
Vehicles that are older, rare or that come from overseas imports often fall outside standard financing criteria. This is why specialist loans exist. They are designed to cover those cars that fall outside the normal realm of the standard vehicle market.
How Specialist Loans Are Tailored for Older/Imported Vehicles
A classic or imported car loan can be either secured or unsecured.
With a secured loan, the car itself acts as collateral. This often yields more flexible terms, such as loan durations of one to seven years. It also ensures a lower interest rate if your credit score is decent.
With an unsecured loan (similar to a personal loan), you may have the freedom to sell the car without needing to pay out a secured loan contract. Just note, the interest rate will be higher because of the higher perceived risk to the lender.
Why Standard Car Loans Are Not Suitable for These Cars
Standard car loans often assume a car is relatively new or conforms to common age and value bands. However, classic and imported cars often fall outside these assumptions. Their history, rarity and non-standard valuations make them a poor fit for standard loan criteria, as each one is unique.
Specialist financing packages recognise those differences and treat the car’s uniqueness as part of what needs flexible consideration.
Specialist Loan Benefits for Buyers
If you apply for a specialist car loan, you may receive:
- Flexibility in the loan duration, from one to seven years
- The option to finance for private sale, auction or import purchase
- The possibility of including costs beyond just the purchase price, such as on-road costs or insurance, for imported cars
- A loan structure that reflects the atypical nature of the vehicle
Get Started With a Classic or Import Car Loan Today
To get the ball rolling, you will need to submit an application that outlines the car’s history – whether it is a vintage collector, a restored classic, a customised model or an imported vehicle.
Lenders will look at your financial profile against the car’s value, its age and its condition. iCREDIT can help you compare offers from more than 40 different lenders, which will increase your chances of getting loan approval with more favourable terms.
Contact iCREDIT today for access to imported and classic car finance in Australia, or apply online right now.