Classic car finance calculator
Looking to finance a classic car? Our classic car finance calculator can help you estimate your monthly payments. It's a quick and easy way to see what your repayments could look like, so you can plan your budget with confidence before applying.
How does the classic car finance calculator work?
Our classic car loan calculator works by giving you an estimate of what your monthly payments could look like based on the amount you want to borrow, your preferred loan term, and your credit profile. It uses a representative APR for each credit band to give you an idea of potential costs before applying. You can also get a personalised quote, valid for 28 days, with no impact on your credit score.
How do I use the classic car finance calculator?
Using the Oodle classic car finance calculator is simple. Just select your credit profile from one of the options provided then use the slider to select how much you’d like to borrow (you can manually enter the exact amount too) and how long you’d like to repay the loan back. The calculator will then show your estimated monthly repayments and total repayable amount. It’s a quick, no-obligation way to check if car finance could suit your budget.
Compare your classic car finance options
Typically, there are a few ways to finance a classic car. Each option comes with its own advantages and disadvantages. The best choice for your classic car finance will depend on your circumstances.
Classic car loan
A classic car loan is a financing option where you borrow a lump sum of money to buy a motorbike and repay it through monthly instalments, but you’ll own the vehicle from the start. While no upfront deposit is required, it’s important to note that the interest rate and monthly payments can be higher than with other motorbike finance options.
Hire purchase
Hire purchase (HP) is where you make a regular monthly payment for a classic car with a fixed interest rate – meaning you know exactly how much you are paying every month. The deposit can be flexible or even not required at all. The car is owned by the lender until you pay the last monthly instalment and the option to purchase fee.
Personal contract purchase
Personal contract purchase (PCP) allows you to buy a motorbike through fixed monthly instalments, like hire purchase. PCP tends to have lower monthly payments as you don't have to pay the classic car's total value. But should you decide to keep the car at the end of the agreement you will need to pay a substantial ‘balloon payment’ to purchase it outright.
Personal contract hire
Personal Contract Hire (PCH) is a flexible leasing option that lets you hire a classic car for a fixed term with manageable monthly payments and an upfront rental fee. You get full use of the vehicle during the lease, then simply return it at the end - there’s no option to buy, making it ideal if you prefer driving the latest models without long-term ownership.
