criston
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Post by criston on Apr 17, 2019 12:02:19 GMT
Tell me this.
Property loans (or other loans) secured by bricks & mortar. If it burns down (and not arson) it's still insured & you still have the land value.
Car loans secured by an insured car. What happens if the driver 'writes it off' while drink driving. in which case insurance is null & void.
Just a thought.
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Car Loans
Apr 17, 2019 12:10:33 GMT
via mobile
Post by funkymonkey on Apr 17, 2019 12:10:33 GMT
Which loans do you refer to? I can't recall any car loans were vehicles are owned by individuals rather than a motor trader, but I may be mistaken.
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jcm9000
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Post by jcm9000 on Apr 17, 2019 12:23:40 GMT
What I do know is, these used to fly out in 30 seconds. Not any more.
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amwinv
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Car Loans
Apr 17, 2019 12:31:04 GMT
via mobile
Post by amwinv on Apr 17, 2019 12:31:04 GMT
What I do know is, these used to fly out in 30 seconds. Not any more. I think they used to have much bigger starting bid limits. They got reduced a while back to intentionally stretch out the time taken to fill, so that more people get a fairer allocation.
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criston
Member of DD Central
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Post by criston on Apr 17, 2019 12:39:19 GMT
Which loans do you refer to? I can't recall any car loans were vehicles are owned by individuals rather than a motor trader, but I may be mistaken. Must admit, I did not think about Motor Traders. Funding Secure has individuals.
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iRobot
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Post by iRobot on Apr 17, 2019 13:08:07 GMT
Unless they have another LP 610-4 for sale, isn't the borrower currently retailing this at around £146k?
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derbyfella
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Post by derbyfella on Apr 17, 2019 21:26:13 GMT
This one has done more miles - therefore is better
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Post by df on Apr 18, 2019 0:27:04 GMT
Which loans do you refer to? I can't recall any car loans were vehicles are owned by individuals rather than a motor trader, but I may be mistaken. Must admit, I did not think about Motor Traders. Funding Secure has individuals. These two loans are to a motor trader - an existing MT borrower since Sept 2017. 17 repaid (on time), 2 due today and 2 at the end of May.
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Post by df on Apr 18, 2019 0:33:31 GMT
What I do know is, these used to fly out in 30 seconds. Not any more. Could be because people are waiting for return from MTAZ985/986 to reinvest in these two???
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cwah
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Car Loans
Apr 18, 2019 3:45:19 GMT
via mobile
Post by cwah on Apr 18, 2019 3:45:19 GMT
Must admit, I did not think about Motor Traders. Funding Secure has individuals. These two loans are to a motor trader - an existing MT borrower since Sept 2017. 17 repaid (on time), 2 due today and 2 at the end of May. How can you find out these stats? I want to lend based on this type of info Edit: actually found it with the ref MTAZ
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criston
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Post by criston on May 30, 2019 14:35:36 GMT
After today's RCC default, it is questionable, if loans on items that can't be put under 'lock & key', or are bricks & mortar, are worth getting involved with.
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bramhall17
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Post by bramhall17 on Jun 17, 2019 13:33:33 GMT
I previously took the opposite view. My rationale was, short of outright theft, cars and similar assets with 50--70% LTV should be better investments than complex property development loans. As we have found out to our cost LTV was a false metric for a failed building project but the value of a car should be clear from the trade publications and <70% therefore broadly safe. Clearly administration/receivership does introduce complications regarding the quality of MT's security .v. other creditors though.
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