Classic Car Finance: What options are there?

[xbrules]

Hi all,

as many of you can tell by my most recent avatar, I'm looking at bringing over a DeLorean DMC-12 from the states whilst the Australian dollar is good. the other aspect to this plan is that I am in the process of preparing to move to sydney in the next 12-18 monts and so I will be selling off two of my cars.

sadly the XE project is coming to an end as I simply don't get time or have enough money to do a job worthy of such an awesome racecar :(

also the P5 LTD will be going up for sale as well I just wont have room for it when I move back to sydney. the plan is a Daily, the coupe and a DMC-12.

I have wanted one since I was about 5 years old and now thanks to the aussie dollar, its finally looking within my grasp.

What I would like to know is what sort of ways are there to get finance for a classic car? I know personal loans are horrifically expensive and most banks wont do finance for a car over 5 years old.

are there companies that do classic car loans? has anyone used them before?

are there any other things I need to watch for?

I have seen several examples around the $20k USD mark including 2 at DMC California. If I can get what I am after for the XE and the LTD, I should have enough money for the Importation and taxes and should only need a loan for the car itself.




Thanks in advance guys