Q: Does a 25-year-old car need an MOT?

Some older cars do not require an annual MOT , but 25-year-old cars do not come under this category. You do not need to have an MOT carried out if: Your vehicle was first built or registered more than 40 years ago There have not been any substantial changes made to the car within the last 30 years (for example, changing the way the vehicle works by replacing the chassis, axles, body or engine)

Q: Are vintage cars tax-exempt?

Yes, if your car was built before January 1st 1984, it is exempt from VED (Vehicle Excise Duty, otherwise known as road tax ). If you don’t know when your car was manufactured but it was registered before January 8th 1984, you can still apply to stop paying vehicle tax. However, a vintage car is not exempt if it is used for commercial purposes, or if it is used for hire or reward (e.g. if you use your classic car as a taxi). You can find out more about car tax exemptions on the official government website .

Q: Can you get finance on a 12-year-old car?

12 years is often considered to be the upper age limit for older used cars if you’re not applying through a specialist car finance lender. So long as your desired vehicle is in good condition and doesn’t have a ridiculously high mileage, you shouldn’t have any problems sourcing a suitable finance loan.

Q: Can you get car finance for cars over 10 years old?

In most cases, the answer is yes, although it depends largely on your own circumstances. A ten-year-old secondhand car is admittedly leaning toward the upper age limit for most lenders, but you should still be able to finance a car of this age. The only thing that may hold you back is the mileage. The average mileage each year for a car is now 12,000 miles, so a 12-year-old car is expected to have around 120,000 miles on the clock. However, if your mileage is much less than the average, your car naturally has more value, so you may find it easier to source a suitable finance deal. On the other hand, if your mileage is higher than the average (or your car is in poor condition), you may struggle to find finance - even if your car isn't ten years old.

Q: Can you get car finance on an older car?

Whilst many drivers prefer to finance modern models, classic cars are still popular among motoring aficionados. Typically, a car is classed as an older vehicle if it's more than five years old, although classic cars are traditionally thought to be more than 40 years old. However, lenders tend to prefer more modern cars with lower mileage, as these vehicles usually hold their value for longer. You should still be able to find plenty of finance agreements for cars up to 10 (or even 12) years old , but if you go older than that, you may start to develop a problem. There's nothing to worry about though, as there are still plenty of older car finance options out there for vintage car lovers. You may have to go to a specialist finance company dealing solely in classic car finance to find a suitable deal. You should also be aware that financing a car that's older than 12 years may be more expensive than a newer model, as these cars carry more risk for the lender.

Question 1

At what age does car tax stop?

Accepted Answer

Generally, vehicles become ineligible for car tax once they reach 40 years old. However, if you’d like a more modern car with minimal tax, you may want to consider an electric vehicle.

VED is an emissions tax, so cars with no emissions/low emissions tend to have either no tax or an extremely reduced rate of tax.

Question 2

Does a 25-year-old car need an MOT?

Accepted Answer

Some older cars do not require an annual MOT, but 25-year-old cars do not come under this category.

You do not need to have an MOT carried out if:

Your vehicle was first built or registered more than 40 years ago

There have not been any substantial changes made to the car within the last 30 years (for example, changing the way the vehicle works by replacing the chassis, axles, body or engine)

Question 3

Are vintage cars tax-exempt?

Accepted Answer

Yes, if your car was built before January 1st 1984, it is exempt from VED (Vehicle Excise Duty, otherwise known as road tax). If you don’t know when your car was manufactured but it was registered before January 8th 1984, you can still apply to stop paying vehicle tax.

However, a vintage car is not exempt if it is used for commercial purposes, or if it is used for hire or reward (e.g. if you use your classic car as a taxi).

You can find out more about car tax exemptions on the official government website.

Question 4

Can you get finance on a 13-year-old car?

Accepted Answer

This is not something we can state for definite, as it depends on a number of factors, including:

Your mileage

Your desired model

The condition of your vehicle

Whether there are any pre-existing faults

However, it shouldn’t be too difficult to find a finance agreement for a 13-year-old car, although you may have to start looking at specialist lenders

Question 5

Can you get finance on a 12-year-old car?

Accepted Answer

12 years is often considered to be the upper age limit for older used cars if you’re not applying through a specialist car finance lender. So long as your desired vehicle is in good condition and doesn’t have a ridiculously high mileage, you shouldn’t have any problems sourcing a suitable finance loan.

Question 6

Can you get finance on vintage cars?

Accepted Answer

Yes, you absolutely can get finance on vintage cars as there is no specific age limit for vehicle finance set out in British law. Vintage cars are usually classed as vehicles manufactured before 1930, making them extremely rare in the modern car market.

Again, this is another situation that will depend largely on the vehicle itself, so you need to take into account the mileage and condition of the car before searching for a car loan.

You may find it easier to source car finance Hire Purchase (HP) deals than Personal Contract Purchase (PCP) car loans, as there is less chance of negative equity with Hire Purchase. It may be harder to get a decent car finance agreement on a vintage car, but it isn't entirely out of the question.

Question 7

How do you finance a classic car?

Accepted Answer

Classic cars are still extremely popular, with many petrolheads choosing to refurbish them. It's more common for classic car enthusiasts to purchase their vehicles outright, but finance options are still available.

However, due to the age of these cars, you may still struggle to find an appropriate deal. In these situations, you may want to consider sourcing finance from a specific classic car lender.

As one of the most popular car finance brokers in the UK, we have a tremendous amount of lenders at our disposal, meaning we may be able to find a suitable deal - just get in touch here.

Question 8

Can you get car finance for cars over 10 years old?

Accepted Answer

In most cases, the answer is yes, although it depends largely on your own circumstances. A ten-year-old secondhand car is admittedly leaning toward the upper age limit for most lenders, but you should still be able to finance a car of this age.

The only thing that may hold you back is the mileage.

The average mileage each year for a car is now 12,000 miles, so a 12-year-old car is expected to have around 120,000 miles on the clock. However, if your mileage is much less than the average, your car naturally has more value, so you may find it easier to source a suitable finance deal. On the other hand, if your mileage is higher than the average (or your car is in poor condition), you may struggle to find finance - even if your car isn't ten years old.

Question 9

What is the oldest car I can get on finance?

Accepted Answer

This is quite a hard question to answer, as it really depends on which lender you choose to go with. Until recent times, the upper end of the spectrum was around 12 years, but with the rise of specialist vintage car finance companies, age is less of a concern.

In fact, having a low mileage is often more important than the age of your car - a 15-year-old car that's only done 20,000 miles might be easier to finance than an 8-year-old car with 100,000 miles on the clock.

Question 10

Can you get car finance on an older car?

Accepted Answer

Whilst many drivers prefer to finance modern models, classic cars are still popular among motoring aficionados. Typically, a car is classed as an older vehicle if it's more than five years old, although classic cars are traditionally thought to be more than 40 years old.

However, lenders tend to prefer more modern cars with lower mileage, as these vehicles usually hold their value for longer. You should still be able to find plenty of finance agreements for cars up to 10 (or even 12) years old, but if you go older than that, you may start to develop a problem. There's nothing to worry about though, as there are still plenty of older car finance options out there for vintage car lovers.

You may have to go to a specialist finance company dealing solely in classic car finance to find a suitable deal. You should also be aware that financing a car that's older than 12 years may be more expensive than a newer model, as these cars carry more risk for the lender.

Can You Get Car Finance on an Older Car?