hazellend
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Post by hazellend on Oct 26, 2015 16:19:53 GMT
Crazy price for a car but the company website states they have been around 30 years so have survived a few downturns. I'm in. Can I say I part own a lambo or is that a step too far?
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Post by bracknellboy on Oct 26, 2015 20:46:39 GMT
Lets hope you are not in hte position of part owning a lambo: if you are, the loan has defaulted.
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Post by scores on Oct 27, 2015 13:31:26 GMT
Lets hope you are not in hte position of part owning a lambo: if you are, the loan has defaulted. Any truth to this statement?
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stevio
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Post by stevio on Oct 27, 2015 14:03:07 GMT
Lets hope you are not in hte position of part owning a lambo: if you are, the loan has defaulted. Think you should clarify what you mean? bracknellboy
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paulgul
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Post by paulgul on Oct 27, 2015 14:30:38 GMT
Lets hope you are not in hte position of part owning a lambo: if you are, the loan has defaulted. Think you should clarify what you mean? bracknellboy I think all that was meant - ** if ** the OP found himself as part owner it would have meant the loan had defaulted and MT had taken procession of the car for resale, during that period all investors would be part owners.
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arbster
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Post by arbster on Oct 28, 2015 8:06:31 GMT
I think all that was meant - ** if ** the OP found himself as part owner it would have meant the loan had defaulted and MT had taken procession of the car for resale, during that period all investors would be part owners. But this is pawnbroking - surely MT already have possession of the car? No, it's secured lending. It'd be a bummer if your bank required you to move your house elsewhere when you took out a mortgage...
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james
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Post by james on Oct 28, 2015 8:32:36 GMT
For things like cars, that can be moved easily, does MT take physical possession of the asset like they say they sometimes do? Or is this car going to stay in the borrowers garage? For the car dealer involved in this and other AM* loans the cars remain with the dealer so that they can be shown to prospective buyers and sold, with the loan being cleared or security replaced as that happens.
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duck
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Post by duck on Oct 28, 2015 8:40:02 GMT
I have to ask, did anybody else see the TV 'documentary' on supercar dealers a year or so ago? The 'AM' business featured quite heavily .....
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Post by zzr600 on Oct 28, 2015 11:01:40 GMT
I guess the question is if the loan defaulted, will the car sell for £265K and how long will it take to sell? It's a 2010 model and I imagine most people with a 1/3 of a £million in spare change tend to go for the newest models? To put into context. global sales for Ferrari are only about 8000 cars per year, a tiny pool of customers.
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Maestro
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Post by Maestro on Oct 28, 2015 13:05:00 GMT
I have to ask, did anybody else see the TV 'documentary' on supercar dealers a year or so ago? The 'AM' business featured quite heavily ..... Yes watched it a few days ago. There was a link in dealers newsletter I believe that MT sent.
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james
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Post by james on Oct 28, 2015 13:11:42 GMT
Maestro's edit makes this post redundant so I've removed my original content.
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jonbvn
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Post by jonbvn on Oct 29, 2015 9:01:43 GMT
With £90k of this loan still available, I wonder what how big the appetite for this and other super car loans is?
I guess we may have an insight when the £203k loan for the Ferrari goes live today.
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ablender
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Post by ablender on Oct 29, 2015 9:18:51 GMT
I am sure it will go away. The Cardiff land took a few days to fill up but it all went to good homes. I am confident this will too. It is a shame I cannot have a sneaky drive.
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pom
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Post by pom on Oct 29, 2015 9:52:00 GMT
My guess would be that there's no lack of interest in them, our desire for diversity will be the limiting factor for the size of our investments - especially with another car imminent. Once there's a secondary market loans will probably fill more quickly when we know we should be able to diversify later.
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ablender
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Post by ablender on Oct 29, 2015 9:59:00 GMT
I agree with pom.
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