webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on Nov 11, 2015 20:18:46 GMT
The Hagerty index and the sub-indexes do not seem to be very relevant to the cars we are dealing with. The cars which constitute those indexes are all 40-60 years old. I suppose what the borrower is trying to do is to anticipate the future values of more modern cars based on these trends.
|
|
madpierre
Member of DD Central
Posts: 303
Likes: 374
|
Post by madpierre on Nov 11, 2015 21:02:13 GMT
The report doesn't make me any more confident about the 'rare' supercar loans at 70% LTV. However what does make me happy is Ed's comment on the previous page that a high rolling figure will generally involve loans only lasting 6 to 10 weeks. If I saw that happening as a matter of course then I'd happy to up my stake and keep it rolling
|
|
jonbvn
Member of DD Central
Posts: 326
Likes: 95
|
Post by jonbvn on Nov 11, 2015 22:18:25 GMT
The Hagerty index and the sub-indexes do not seem to be very relevant to the cars we are dealing with. You are correct. However, it was quoted as a source in the report. My major concern is whether the price of these supercars is in a bubble that if deflated could make the 70% LTV look silly. TBH, from my googling I have found a few forums that seriously question the price of some of the cars currently on offer by the dealer. Although given the target market, I wonder if the usual rules apply
|
|
james
Posts: 2,205
Likes: 955
|
Post by james on Nov 12, 2015 4:15:34 GMT
TBH, from my googling I have found a few forums that seriously question the price of some of the cars currently on offer by the dealer. Although given the target market, I wonder if the usual rules apply Given the vehicles, no, they don't for the non-production models. One thing that Ed presumably sees is the purchase price invoice from the borrower which shows what they actually paid. Real money paid by the firm that they are risking. While for the older cars the person doing the buying is clearly a fan of them and might have an inclination that could lead to overpaying, the other partner has some significant controls on this and in any case the person buying very clearly indeed knows the markets extremely well, knows what is likely to be achievable on resale and seems to actually handle this well. In the older cars aspect of the business those who have not been able to watch the TV program are at a severe disadvantage in understanding how the business operates, while those who have seen it are likely to be considerably more comfortable. I don't know whether the borrower will accept it but the newsletter that Ed sent out before and the programme it provides information on would undoubtedly be very useful to prospective lenders in understanding how the business works. Perhaps Moneything customer service would be able to provide this on request for a while more until the loans are more established, maybe until say the initial facility target level is reached?
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 12, 2015 9:44:08 GMT
I'd be happy with a facility loan, similar to the pawn shop loans, whereby cars that are sold are replaced by those of similar value - either at 60% LTV or two different facilities of 50% LTV and 70% LTV
50% LTV seems to have proven more popular and Ed I would suggest progression of these more than the 70% LTV. For most, the terms seem to matter more than the specific car/asset.
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Nov 23, 2015 11:03:31 GMT
Last £1500 of the Ferrari F12 loan still remaining (MT276). Going, going, ...
The Lambo (MT275) is down to the last £30k
|
|
|
Post by bracknellboy on Nov 23, 2015 11:09:29 GMT
Last £1500 of the Ferrari F12 loan still remaining (MT276). Going, going, ... The Lambo (MT275) is down to the last £30k does that mean I can get the Ferrari F12 for £1,500 ?
|
|
paulgul
Member of DD Central
Posts: 401
Likes: 92
|
Post by paulgul on Nov 23, 2015 11:13:28 GMT
Last £1500 of the Ferrari F12 loan still remaining (MT276). Going, going, ... The Lambo (MT275) is down to the last £30k does that mean I can get the Ferrari F12 for £1,500 ? Yeah, the special edition model made by Corgi
|
|
freddy
Member of DD Central
Posts: 147
Likes: 145
|
Post by freddy on Nov 23, 2015 11:29:41 GMT
Ferrari Gone!
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Nov 23, 2015 11:45:02 GMT
still quite a bit let on the lamborghini but it is nice to see that one has gone, the first one has taken the longest the smaller cars went pretty quick
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Nov 24, 2015 13:09:09 GMT
I doubt the Lambo is going to last long now ...
|
|
averageguy
Member of DD Central
Posts: 1,166
Likes: 841
|
Post by averageguy on Nov 24, 2015 13:29:59 GMT
I doubt the Lambo is going to last long now ... Maybe peeps will keep there powder dry for the new loans with Broadoak
|
|
madpierre
Member of DD Central
Posts: 303
Likes: 374
|
Post by madpierre on Nov 24, 2015 13:31:44 GMT
Oh well as it looks like I'm not going to become Mayor of Huddersfield I've put a bit more in the Lambo, as I think have a few others
|
|