Car Loans
A car is often the second largest purchase you’ll make, and the way you finance it can significantly impact your monthly budget. At Classic Loans, we simplify the process of getting behind the wheel. Whether you’re buying a brand-new sedan, a reliable family SUV, or a used vehicle, Preetinder Singh and our team compare a wide range of lenders to secure a competitive rate and a repayment plan that fits your lifestyle.
Understanding Your Car Finance Options
There isn’t a “one-size-fits-all” car loan. We help you choose the structure that aligns with your financial goals:
-
Secured Car
Loans
- How it works:The vehicle you are buying acts as collateral (security) for the loan.
- The Benefit:Because there is less risk for the lender, you typically enjoy lower interest rates.
- Best For:New cars or late-model used cars.
-
Unsecured Personal
Loans
- How it works:You borrow the funds without using the car as security.
- The Benefit:Offers more flexibility—you can often use a portion of the funds for other costs like insurance or registration.
Best For: Older used cars that may not meet a lender’s criteria for a secured loan.
- Construction Loans: Build from the Ground Up
Building a new home requires a specialized loan structure. Unlike a standard mortgage, a Construction Loan involves “progress draws,” where the bank pays your builder in stages (Slab, Frame, Lock-up, etc.). We manage the coordination between you, the lender, and the builder to ensure a smooth construction process.
- Self-Employed & Specialist Lending
If you run your own business, your tax returns might not tell the whole story. At Classic Loans, we are experts in Alt-Doc (Alternative Documentation) loans. We work with specialist lenders who understand business owners, allowing you to secure a home loan based on your actual cash flow and business performance.
Asset Finance
Why Choose Classic Loans for Your Car Finance?
“Dealership finance can often be restrictive. We give you the freedom to choose from a vast panel of lenders, ensuring the loan is tailored to your budget, not the dealer’s targets.” — Preetinder Singh, Founder
- Fast Approvals
Often within 24–48 hours, so you don’t miss out on the car you want.
- Transparent Advice
We explain all the fees, including any application or monthly service fees.
- Comprehensive Support
From finding the loan to settlement and payment to the seller.
What Do Lenders Look For?
Stable Income
Evidence of consistent pay through payslips or bank statements.
Good Credit History
A solid track record of paying bills and existing debts on time.
Employment Stability
Generally, lenders prefer you to have been in your current role for at least 3–6 months.
Deposit
While 100% finance is often available, having a 10% to 20% deposit can help reduce your interest rate and monthly costs.