Call Us Today On: 01635 299184



SCM Sporting Classic Motors is a company based in north Hampshire close to the Berkshire border in Southern England specialising in classic car restoration, with an emphasis on historic motor vehicles with a sporting predisposition.


The restoration of pre-war vintage motor vehicles is incorporated with post war Classic Car restoration, classic car maintenance, classic car servicing and classic car repairs.


Much of the work involves British and German classics such as Mercedes Benz, Porsche, Austin Healey, Bentley and Daimler but not exclusively.

Charge cards, loans and arranged overdrafts: borrowing options explained

Borrowing cash is a daunting possibility, not minimum during durations of financial doubt.

At this time, start by asking yourself these questions if you think borrowing could be right for you:

  • Why must you borrow? – what are you going to make use of the money for?
  • Exactly how much do you really need? – make an effort to work-out a defined quantity when you can, whether it’s for the one-off price, or even to protect costs over a longer time
  • Simply how much is it possible to manage to repay every month? – work this out centered on your calculated plan for in terms of it is possible to prepare ahead
  • The length of time should you borrow for? – predicated on simply how much you’ll need and that which you can manage to repay, are you borrowing for a group, or indefinite, duration?

Your borrowing options

As soon as you’ve answered these relevant concerns, you’ll take a better place to determine which means of borrowing will be most affordable. Bear in mind, you’ll need certainly to pass eligibility checks become approved for almost any associated with the services and products below.

Arranged overdrafts

How can it works?

Arranged overdrafts let you continue spending money from your own present account as soon as your stability reaches £0, or below. It is possible to typically borrow an amount that is certain because of this interest free. But once you pass that amount, you’ll be charged interest.

Exactly what are they suited to?

An arranged overdraft will there be to simply help in the event that you periodically look at budget. For instance, you can dip into the overdraft to pay for your expenses before you receives a commission next.

Be cautious about.

It is feasible to be over-reliant on an arranged overdraft and make use of it to pay for a lot more than occasional expenses.

Standard rates of interest might be greater than on loans and bank cards, to enable them to be a way that is expensive borrow.

HSBC Banking Account

HSBC Bank Account Pay Month-to-month

HSBC Present Account (offsale)

HSBC Advance Banking Account

Representative price of 38.9% APR adjustable

Based on: 0% EAR adjustable regarding the very first ВЈ25 and ВЈ39.9% on such a thing above that.

HSBC Banking Account

HSBC Bank Account Pay Month-to-month

HSBC Current Account (offsale)

HSBC Advance Bank-account

Representative price of 38.9% APR adjustable

Based on: 0% EAR adjustable regarding the very first ВЈ25 and ВЈ39.9% on any such thing above that.

Charge cards

How can it works?

You can make use of credit cards to get things and pay for them at a date that is later. In the event that you owe cash, you need to make at the very least a minimum payment – which can be often a share of everything you owe – every month.

You owe in full each month, you’ll typically be charged interest if you don’t repay the amount.

You’ll have actually a borrowing limit, and that means you can invest up to you will need regarding the card as much as that quantity.

What exactly are they suited to?

Charge cards makes it possible to distribute the price of regular, or one-off, acquisitions. In addition they offer security if those acquisitions get wrong, such as for example products being defective or flights being terminated.

And also by checking up on repayments, they can be used by you to enhance your credit history.

In the event that you don’t have an urgent situation investment, charge cards also can offer back-up to pay for costs that are unexpected.

The specific advantages differ based on the form of bank card. For instance, some charge cards allow you earn points for everyday investing, which you yourself can redeem somewhere else.

Other kinds, such as for example stability transfer and 0% purchase charge cards, offer interest-free periods. These can offer some respiration area on re payments, if you utilize them when you look at the right method.

Look out for.

The total amount you borrowed from – cash you’ve allocated to the card, plus interest – can mount up if you’re perhaps maybe not careful. Attempt to pay off the maximum amount of you owe as you can each month, ideally all. The greater you repay, the less interest you’ll be charged.

Avoid belated charges by creating a debit that is direct cover at the least the minimal payment each month.

If you are using a charge card by having an interest-free offer, either on transfers of balance or acquisitions, have actually an agenda for whenever offering ends, in order to stay away from being charged interest.


How can it works?

That loan is where you borrow a group amount of money for an agreed number of time. You repay the amount that is full usually in monthly instalments – plus interest. For the majority of fixed-term loans, the interest rate can be fixed during the outset and won’t change through the duration of the loan.

The interest rate is usually lower than for overdrafts, or bank cards.

Exactly what are they appropriate?

Loans makes it possible for one to distribute the expense of a huge purchase. They’re widely used for purchasing automobile and house improvements, as an example.

They are able to additionally be used to combine debts that are multiple one. With just one month-to-month payment and rate of interest, this might make debts simpler to handle.

Be cautious about.

It is really important it is possible to easily manage to keep pace with your repayments. In the event that you skip that loan payment, it may influence your credit score. And you could face a county court judgement or bankruptcy if you end up not being able to repay the loan.

If you’re applying for a financial loan to combine other debts, it is vital to give consideration to not only the attention price and month-to-month repayments, but additionally the definition of associated with brand new loan contrasted towards the staying term of one’s current loans or debts.

Distributing your instalments over an extended term means you can wind up having to pay more overall than under your current arrangements, even in the event the attention rate in the brand new loan has a reduced rate.

Know about loans with a high interest levels. For instance, payday advances can provide access that is quick cash, you could wind up trying to repay a lot more than you borrowed. This might ensure it is harder to leave of financial obligation into the long term.

Reasons why you should borrow contrast

  • You’ll be charged interest in the event that you exceed the interest-free quantity on an arranged overdraft.
  • You’ll be charged interest in the event that you rise above the amount that is interest-free an arranged overdraft.