Specialist lender Cambridge & Counties Bank, a leading provider of finance for classic, vintage, modern classic and race cars, has announced it is to become the ‘Funder of Choice’ for Praga Cars UK customers.
The partnership will see the bank provide bespoke funding solutions for clients looking to purchase a Praga R1 racing car, part of the Czech brand’s drive to launch a planned one-make series in the UK during 2022.
Launched 114 years ago, Praga’s successful history includes designing and building road cars, race cars, motorcycles, tanks, trucks, airplanes and even fire engines. Today, the company is one of the world’s leading racing go-kart manufacturers, but its focus remains the championship winning all-carbon R1 race car that competes in its own class within the Britcar Endurance Championship.
Cambridge & Counties Bank has developed a competitive finance solution in the UK market for classic, vintage, sports, modern classic and race cars. With an understanding of the race car world and its requirements, Cambridge & Counties Bank provide uncomplicated options for those looking to purchase a race car, ensuring the process is personal, simple and straightforward.
Mark Harrison, Managing Director, Praga Cars UK, said:
“We met Neil at the UK’s leading event for supercars and race cars, and we could immediately see a partnership potential as we discussed the R1 and our plans for the future. We have a strong ambition to launch a one-make R1 series in 2022, 2023 at the latest, and can see how a strong finance offering on a car with such good residual values and relatively low running costs can support our ambitions.”
Neil Fender, Head of Classic, Vintage & Sports Car Finance said:
“Cambridge & Counties Bank is proud to be a part of the classic, vintage, sports and race car movements. We are owners and enthusiasts and that has helped us develop a leading finance proposition. We are delighted to be chosen as the ‘Funder of Choice’ for Praga Cars UK customers. We look forward to working with Praga, funding amazing cars and watching them excel in their natural environment, on the track”.