Can I get a used car loan for vintage or classic cars?

Getting a used car loan for a vintage or classic vehicle is possible, but it does not follow the same path as a regular used car loan. Most banks and NBFCs have clear age limits for vehicles, usually capped at cars that are 8 to 10 years old. Once a vehicle is much older, especially if it is considered collectible, only a small set of lenders are willing to look at it. In these cases, the focus often shifts from standard depreciation to the car’s condition, originality and market appeal.

The value is often decided through an independent or specialist appraisal rather than routine inspection. Paperwork also matters more. The RC, insurance history and ownership trail need to be clean and consistent, as gaps can delay or block approval.

Loan terms and interest rates vary widely for vintage and classic cars. They are influenced by factors such as rarity, maintenance records and the borrower’s financial profile. Before spending time on inspections or documents, it helps to speak to the lender and confirm whether they finance vehicles beyond their usual age limits. That simple check can save a lot of effort later.

Before deciding on getting a classic or vintage car with a used car loan, reach out to lenders to understand their policies and terms and conditions.