Classic Motor Cars (CMC) has begun offering bespoke personal finance for classic car purchases and restorations through prestige car finance provider JBR Capital.
CMC was founded in 1993, and operates out of premises in Bridgnorth, Shropshire. It offers a comprehensive service for classic car owners, including general servicing, upgrades, accident repairs, repaints, parts, full restorations, storage, transport, car sales and bespoke car design.
The available restoration finance options include staged payments and early settlement options to, equity release against existing vehicles and refinancing for customers who have existing finance agreements.
For classic car purchases, the finance options include equity release, credit line finance allowing buyers to move very quickly and seal the deal, HP, lease purchase which is similar to the hire purchase but with a balloon payment at the end of the fixed term and refinancing.
Nigel Woodward, managing director at Classic Motor Cars, said: “Besides their charm or nostalgic appeal, classic cars can offer excellent potential as investments. With the tailored finance solutions provided by JBR Capital, enthusiasts can now turn their dream into reality. Owning a classic has never been easier.”
Darren Selig, executive chairman at JBR Capital, said: “We’re delighted to be working with Classic Motor Cars, opening up a range of finance options to prospective and current owners of classic cars.”
In a release, CMC noted that it was not acting as a credit broker or agent of or for JBR. It said: “CMC is not a partner of JBR, nor does it own or otherwise influence the activities of JBR.” In addition, CMC said it does not receive any commission from JBR for any business its customers places with them, and it will not receive or obtain any other financial gain should its customers fund their purchase or restoration through JBR. According to the FCA’s Financial Services Register, CMC’s authorisation to provide regulated products and services lapsed in November 2017.