metoo
Member of DD Central
Posts: 540 
Likes: 410
|
Post by metoo on Jun 27, 2017 16:31:03 GMT
Spot on. Actually, 32% does look about right for this loan. Hope I've got the math right this time. That assumes an exit in 1 year of course, which is not even clearly specified, it would appear. Only <35k invested so far. Worth the risk for 32%? Not many seem to think so, so far. As for the % of bad reviews, probably only a minority of dissatisfied customers will ever write a review, so the true rate of dissatisfaction would probably be rather higher than 2.8%. If I decide to invest the CB in the same loan and write the CB off for now, I could say it's 14.4% interest on the 83% of the capital I pay for. If the loan does repay after 12 months, I get an extra 20% capital back, so 34.4% return (if I accumulate the interest as uninvested cash). The money I put in, excluding CB, would be 58.3% of the retail value of the cars at time of lending. Maybe most of that could be recovered at auction in a downturn? If some of the interest has paid, should be fair odds of at least getting back the money invested? Interesting comment on dealer reviews kaya - except for businesses that are good at persuading happy customers to leave good ratings, people with bad experiences are much more likely to write a review. But like you say, only some of the annoyed people will post a review so there must be more disgruntled customers than we know about. Edit: interesting to look at a dealer forum discussing used car valuations. The BCA Used Car Market Report (most recent is 2 years out of date at the moment) is stuffed with data, charts and discussion. If anyone can tell me what it means for the trade value of used cars over the next 12 months, do let me know!!
|
|
|
|
Post by valuehunter on Jun 29, 2017 19:51:11 GMT
still <35k taken
Generally speaking is it the competitiveness of the market that puts people off car dealerships?
|
|
metoo
Member of DD Central
Posts: 540
Likes: 410
|
Post by metoo on Jun 29, 2017 20:50:43 GMT
still <35k taken Generally speaking is it the competitiveness of the market that puts people off car dealerships? Dealerships possibly seem to come and go with the economy. For this secured loan, 70% LTV is against the retail value of the cars at time of lending against each car. In a downturn and a default, the recovery value at auction may well be less than that if we had to sell off the stock, yet there is some security there. 70% LTV seems to be standard for this type of loan, and loans like this seem popular elsewhere. In this case, the level of cashback may add some cushion if things go bad, or an enhanced return if things go well?
|
|
|
|
Post by nesako on Jun 29, 2017 21:15:47 GMT
still <35k taken Generally speaking is it the competitiveness of the market that puts people off car dealerships? I believe the issue is not that much loan itself, it is the fact that there are only just over 100 investors on this platform, so not enough people yet know about this platform
|
|
kaya
Member of DD Central
Posts: 1,150
Likes: 718
|
Post by kaya on Jun 30, 2017 10:59:46 GMT
This has not moved by £1 in days. Truth is, it ain't popular, though I doubt that Huddle would risk their reputation by releasing a dodgy loan at this early stage.
|
|
|
|
Post by nesako on Jun 30, 2017 14:20:58 GMT
It seems like Huddle's "skin in the game" for this second loan will be substantial, so to me that is some extra reassurance as well
|
|
elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Jul 1, 2017 5:22:58 GMT
It seems like Huddle's "skin in the game" for this second loan will be substantial, so to me that is some extra reassurance as well Yes, in the unlikely event of enhancing platform risk (bearing in mind how many loans they stand behind on another platform) 
|
|
|
|
Post by drphil on Jul 5, 2017 13:38:58 GMT
It seems to me that this loan is unlikely to be anywhere near filled in the 9 days remaining.
So what happens then?
And, in the absence of any other new loans, what is the implication for Huddle 100 Club Members?
|
|
metoo
Member of DD Central
Posts: 540
Likes: 410
|
Post by metoo on Jul 5, 2017 14:00:37 GMT
It seems to me that this loan is unlikely to be anywhere near filled in the 9 days remaining. So what happens then? And, in the absence of any other new loans, what is the implication for Huddle 100 Club Members? This is what we have been told: 3. Every loan on the Huddle platform will close because it is underwritten by the parent company. Quite simply, we wouldn’t put any loan on a platform that we would not ourselves invest in. All loans will be underwritten by the parent company. So loans that successfully make it to the platform will fund. Please also bear in mind that all loans on Huddle Capital platform are underwritten, and therefore guaranteed to close. Only proviso would be if a loan failed to complete legals, but Instant Returns and H100 should still be paid in that event.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,840
Likes: 11,068
|
Post by ilmoro on Jul 5, 2017 14:02:35 GMT
It seems to me that this loan is unlikely to be anywhere near filled in the 9 days remaining. So what happens then? And, in the absence of any other new loans, what is the implication for Huddle 100 Club Members? The loan will drawdown anyway as it is underwritten by Huddle parent company. Instant Returns will be paid and I suspect ACF holding will then be avaliable through SM so question is whether in which case whether lender sales rank ahead of ACF listing or whether a discount is required to jump the queue Biggest issue for H100 members is whether they decide to invest in this one prior to their cutoff point to get the bonus and then hope to sell on SM which could mean SM becomes blocked/hugely discounted. The other question is how quickly it draws and whether there is an opportunity for H100 to invest via the SM, possibly at a discount. huddlecapital any comment on process in these scenarios?
|
|
|
|
Post by valuehunter on Jul 7, 2017 11:45:18 GMT
|
|
|
|
Post by nesako on Jul 17, 2017 14:54:47 GMT
How long is this loan going to be now stuck on 0 days left?..
|
|
Greenwood2
Member of DD Central
Posts: 4,241
Likes: 2,686
|
Post by Greenwood2 on Jul 17, 2017 15:13:52 GMT
Car loan(s) gone into default on Collateral. Not sure how similar it is but seems to be secured on (missing?) car stock. A couple of threads under the 'Collateral Board'. Interesting to watch how that one develops.
|
|
|
|
Post by nesako on Jul 17, 2017 16:32:36 GMT
Car loan(s) gone into default on Collateral. Not sure how similar it is but seems to be secured on (missing?) car stock. A couple of threads under the 'Collateral Board'. Interesting to watch how that one develops. Just caught up on their board, very interesting indeed, cannot wait to see the recovery % they will manage to get
|
|
elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Jul 19, 2017 16:21:09 GMT
SM now available |
|
