Financing a Classic Car Just Got Way Easier Thanks to Hemmings

Hemmings announced a new financing program aimed at classic and collector cars and trucks. The service, called Hemmings Financing, lets buyers obtain pre‑approvals, see estimated monthly payments, and apply directly from a vehicle’s listing page. The estimated payment and a “Finance This Vehicle” link will appear on auctions, classified listings and other Hemmings properties. Pre‑approval is not limited to Hemmings inventory; buyers can use the financing to purchase a vehicle found on another site or from a private seller.

The Hemmings team will also assist with financing after an auction or accepted offer, giving both buyers and sellers an extra resource to close a deal. President Jonathan Shaw said the goal is to make collector‑car ownership more accessible by removing financing as a barrier, whether the car is found on Hemmings, another marketplace, or a garage down the street.

The article notes that while some purists prefer cash purchases, financing can help enthusiasts who have income but have cash tied up elsewhere, allowing a quicker transaction and the option to pay off the loan as cash becomes available.

Motor1’s take acknowledges the program could broaden classic‑car ownership but also warns it may increase debt for discretionary purchases. The piece ends with brief classic‑car news items: a gold‑plated 1953 Cadillac sold for $1,275,000, setting an auction record; a Mercedes‑190 Evo II restomod delivering 765 horsepower; and a rare Mercedes G‑Class changing hands for $143,000.