Historics to Offer Classic Car Finance on Auction Purchases
Historics at Brooklands has announced that it is to offer structured finance for classic auction purchasers. This enables anyone who want to invest in the classic car market to do so on borrowed capital in the hope that the value of their classic rises by more than the interest they pay on the loan.
Historics has partnered with Classic & Sports Finance to become authorised and regulated by the Financial Conduct Authority, making it the first classic car auction house to hold its own FCA limited permission to offer consumer credit.
Bidders at all future Historics' auctions, from the next sale on Saturday, 4th March, will be able to arrange finance facilities for their purchase in advance of the sale, subject to acceptance, and then bid in the knowledge that they have a pre-arranged finance agreement.
A new web-based interactive finance calculator embedded with every auction consignment listing in Historics on-line catalogue at www.historics.co.uk enables anyone interested to configure their ideal package with direct discussion with Classic & Sports Finance as required. For example, for the 1954 Jaguar XK120 in the photo, estimated at £75,000 - £88,000:
It is anticipated that most investors will opt for a hire purchase agreement but other finance options are available.
Senior personnel from Classic & Sports Finance will be in attendance at Historics’ auction previews and sale days to assist potential buyers with further expert advice. The partnership extends to sharing respective market information, which will be fully available to clients via direct contact and at sales.
For more information, please visit our FAQ's here.
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