Is a 20-year-old car a classic in Australia?

It can be - but it depends who you ask. In most Australian states, cars that are 20 years or older can be considered for club registration or "historic" status, which is often how they're classified as classics. That said, being 20 years old doesn't automatically make a car collectible - condition, rarity and enthusiast interest also play a role.

What is the oldest car you can get on finance?

There's no strict age cut-off, but it gets harder the older the car is. Many lenders have age limits — for example, they might only finance vehicles up to 10 or 12 years old. Some classic car lenders or brokers may go older, especially if the car is rare, well-kept or holds its value. If you're looking to finance something over 20 years old, you may need to look at personal loans or specialist lenders.

What qualifies you for classic or heritage plates?

To qualify for classic, historic or heritage plates (the name varies by state), your car generally needs to be over 20 or 30 years old, depending on where you live. It also usually has to be in original or restored condition and used for limited purposes - like club events, displays, or occasional drives. You'll need to be part of a recognised car club and meet any state-specific requirements for logbooks or inspections.

Compare car loans for classic cars

Whether you're after a weekend cruiser or a long-term collector's item, classic cars can be a rewarding purchase - but they often come with a higher price tag.

A loan could give you the flexibility to buy when the timing's right. As with any big financial decision, it's worth comparing your options to make sure it's the right fit for your budget.

Classic car loans often have stricter credit requirements, typically requiring a good credit score.
Unlike standard car loans, these loans usually have no age restrictions on vehicles, accommodating older, high-value cars.
Lenders may require expert valuations to determine the car's value, as standard guidelines may not apply.

What to know about classic car loans

Classic car loans share a lot of features with standard car loans, but can also have some defining characteristics that set them apart.

Stricter credit requirements: Many classic car loan providers will only accept customers with a good credit score. Good credit borrowers help lenders reduce their risk level. This, in turn, means that they can offer lower rates to customers.
No age restrictions for vehicles: Typical car loans will often have age restrictions on the vehicles you can buy. These can range anywhere from 2 - 10 years. As classic cars are far older but are high-value purchases, the age restriction is more lax.
Different types of restrictions on vehicles: Classic car loans can often be used to buy unique, muscle or other rare vehicles while everyday car loans might not let you.
Expert valuations: Sometimes there may not be established guidelines for valuing a specific classic car. Classic car loan providers will often have experts who can establish the car's value.
Loan options to match your credit: The options you qualify for - loan amount, repayment term, interest rate and whether or not the loan requires asset security will often be dependent on your credit. For example, if you're looking for a bad credit muscle car loan you might only be able to get a secured loan.

💡 What does a classic car cost these days?

To give you an idea of current market values, as of April 3, 2025, here are the average prices for select classic cars listed on Carsales:

1989 Porsche 911 Carrera Manual. The average price across 3 listings on Carsales is approximately $137,500.
1970 Ford Falcon GTHO Phase II XW Manual. There is only one for sale at the time of writing and it is listed for $539,990.
1969 Holden Monaro GTS. The average price across 8 listings on Carsales is approximately $253,812.50.
1986 Nissan 300ZX Turbo Auto (Z31). The average price across 3 listings is approximately $21,300.
1993 Peugeot 205 GTi Manual. The average price across 2 listings is approximately $27,500.
1972 Alfa Romeo 1750 GTV. There is currently on 1 of these beautiful Alfa's for sale and it is listed at $107,500.

Finder survey: How do Australians of different ages finance a new car?

Response
My bank	35.85%
Unsure	35.49%
Cheapest rate on the market	22.01%
A big 4 lender	5.93%
Peer-to-peer lender	0.72%

Source: Finder survey by Pure Profile of 1113 Australians, December 2023

How do I value a classic car?

Depending on its condition, rarity, originality, collector appeal and other factors, a classic car might range in value from a few thousand dollars to a few hundred thousand dollars. There are guides to valuation, but often it requires an expert with some in-depth knowledge of the market. Classic car specialists can be of great help here.

In order to accommodate the wide variation in car values, classic car loans will often be very flexible in the amounts you can borrow.

What to look for in a classic car loan

When considering getting a classic car loan, you should also look at:

Fees: Does the lender charge any fees? Consider the impact these might make on your total payments.
Repayment period: What is the duration of the loan period? Does it work for you?
Flexibility: Can you make additional repayments? Are there any early repayment fees? Can you redraw early repayments? The flexibility of a loan can affect how suitable it is for you.
Security: Does the lender require collateral? With bad credit, you might only qualify for a secured classic car loan. But, with a stronger credit score, you could qualify for an unsecured loan.

Remember that he total amount you'll be repaying and your overall value for money is often dependent on more than just the interest rate. Always consider all factors of a loan before applying.

What to consider

It can also be a good idea to consider any insurance requirements that might come with your car loan. Many car loans will, as a condition of your borrowing, require you to take out comprehensive cover. Check with the lender prior to borrowing what type of cover they might require. While it’s generally a good idea to take out cover to protect your vehicle, there might be conditions around the type of cover required which make it less suitable for you.

Specialised classic car insurance policies can include benefits such as lay up periods to reduce premiums. These may be more suitable if you’re a collector or looking to invest in the classic car as an appreciating asset.

What are my other loan options?

Not all lenders offer dedicated classic car loans - and even if they do, the terms might not suit you. Here are some other ways to finance your dream ride:

Personal loan

A personal loan gives you flexibility. You can go for an unsecured personal loan (higher interest, but fewer restrictions) or secured personal loan (lower rates, but you'll need to offer up an asset as security — and there may be limits on what you can spend the loan on).

Standard car loan

If your classic car meets the lender's age and condition criteria, a regular car loan might do the trick. Some lenders that offer everyday car finance also have products for prestige or vintage cars — it's worth asking the question.

Finance broker

A broker can do the legwork for you. They'll compare classic car loans and other finance options, and may be able to find a deal that suits your budget and the car you want.

Dealer finance

Some dealers offer finance directly. It's convenient, but not always the cheapest option. Compare the rate and fees against online lenders to make sure you're getting a fair deal.

Before you take out any type of finance for a classic car, remember to review all of the costs and features to make sure it suits your needs and budget. To apply for any of the finance options on this page, simply click "Go to site" to submit an application.

Frequently asked questions

It can be - but it depends who you ask.
In most Australian states, cars that are 20 years or older can be considered for club registration or "historic" status, which is often how they're classified as classics. That said, being 20 years old doesn't automatically make a car collectible - condition, rarity and enthusiast interest also play a role.
There's no strict age cut-off, but it gets harder the older the car is.
Many lenders have age limits — for example, they might only finance vehicles up to 10 or 12 years old. Some classic car lenders or brokers may go older, especially if the car is rare, well-kept or holds its value.
If you're looking to finance something over 20 years old, you may need to look at personal loans or specialist lenders.
To qualify for classic, historic or heritage plates (the name varies by state), your car generally needs to be over 20 or 30 years old, depending on where you live. It also usually has to be in original or restored condition and used for limited purposes - like club events, displays, or occasional drives.
You'll need to be part of a recognised car club and meet any state-specific requirements for logbooks or inspections.

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. CarSales.com.au
2. Finder Survey, December 2023

Picture: Shutterstock

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Written by

Elizabeth Barry

Journalist

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Elizabeth Barry is an experienced journalist with over 10 years of expertise in personal finance, contributing to outlets like the ABC, Sydney Morning Herald, and 7News. She holds a Master of Arts in Creative Writing and a Bachelor of Arts in Communication from the University of Technology Sydney, and has earned multiple award nominations, including a Highly Commended recognition at the 2017 Lizzies. Elizabeth began her career at Finder in 2013, progressing through roles to become Lead Editor, where she oversaw a wide range of personal finance coverage until 2024. See full bio

Elizabeth's expertise

Elizabeth has written 151 Finder guides across topics including:

Banking
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2 Responses

AlisonMarch 24, 2018

Looking for personal loan

LiezlMarch 24, 2018

Hi Alison,

Thanks for visiting Finder!

Our personal loan Finder will help you compare various loan products. Simply select the type of loan you’re looking for from the left column of the page and start comparing your options. In case you’re interested in having your loan pre-approved, you can check our guide on how pre-approval works for personal loans and which lenders offer it.

Once you have chosen a particular lender, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with your loan application or get in touch with their representatives for further assistance.

Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

Cheers,
Liezl

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