How Asset Finance helped a classic car collector expand their vehicle collection

Opportunity

A UK‑based car collector had built a small but valuable collection of classic and prestige vehicles over a number of years. While most of the cars were owned outright, a significant amount of capital was tied up in the collection.

The collector wanted to purchase an additional vehicle that had recently come to market but did not want to release funds by selling an existing car. Maintaining liquidity was also important, with ongoing costs such as storage, insurance and maintenance to consider.

The challenge was to secure a finance solution that enabled a swift purchase, spread the cost over time and allowed the client to retain their existing collection.

Solution

Working closely with the broker, we took the time to understand the client’s wider financial position, rather than relying on an automated decision alone. Given the specialist nature and value of the asset, this judgement‑led approach was key.

We explored refinancing options on an existing vehicle within the collection. This gave the client the option of releasing capital without selling an asset they wanted to keep, adding flexibility to the overall solution.

To support the purchase, a structured finance solution was arranged against an existing vehicle in the collection. By releasing capital through a Hire Purchase agreement with a balloon payment, the client was able to move quickly when the next vehicle became available, while retaining ownership of their existing assets.

Throughout the process, our sales support and underwriting teams worked closely with the broker to ensure requirements were clear and the transaction progressed smoothly from enquiry through to completion.

Outcome

The client was able to acquire the additional vehicle without a large upfront payment or selling part of their existing collection.

By using asset finance, they preserved cash flow, retained ownership and use of their vehicles, and gained greater control over how their collection was managed. Fixed repayments also made it easier to plan for future ownership and running costs.

The broker delivered a tailored, client‑focused outcome within a familiar asset finance framework, supported by Close Brothers Broker Solutions’ specialist expertise and hands‑on approach.

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