New service links buyers of niche vehicles to 80 lenders

Retro Rides has launched a specialist vehicle finance service for Australians buying performance, luxury, collector and classic cars that may sit outside the usual lending preferences of traditional banks.

Called Retro Rides Finance, the service connects customers with a panel of more than 80 lenders. It offers consumer and business finance with loan terms from one to seven years.

The company built the product for buyers whose circumstances do not always fit standard bank checks. That group includes self-employed professionals, small business owners and company directors.

Customers can calculate indicative repayments, review personalised finance options and submit applications online 24 hours a day, seven days a week.

Older and rare cars need different checks

Retro Rides Managing Director Cameron Jurd said enthusiast buyers often need a different finance process because the vehicles and the buyers do not fit a one-size-fits-all model.

According to Retro Rides, financing a rare, modified, older or high-value vehicle can involve extra checks. A car’s age, condition, provenance, market value and intended use can all affect the options a lender will consider.

Limited production numbers can also complicate an application. Some collector and classic vehicles have few comparable sales, which can make them harder for generalist lenders to assess.

“Enthusiasts don’t look at a performance or classic car as just another vehicle. It might be a car they have wanted for years, an important addition to a collection or a piece of automotive history they believe is worth preserving,” Jurd said.

Retro Rides said the finance launch creates a more integrated path across its Retro Rides and RR Auctions platforms. Buyers can discover vehicles and explore finance options through the same automotive-focused network.

The company did not disclose lending rates, approval times or the total value of loans it expects to write through the new service.