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Post by Investor on Jul 25, 2014 12:30:48 GMT
Around £4700 quick calculation Car? Holiday? Hour in Spearmint Rhinos?
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Investor
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Post by Investor on Jul 25, 2014 12:28:56 GMT
I left the Arvor one alone as that was the recent one that had a £220 max bid on it. Would have felt guilty picking another slice up even on the SM
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Investor
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Post by Investor on Jul 25, 2014 12:18:54 GMT
Now we just have to wait for SS to unwind all the negative ones
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Investor
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Post by Investor on Jul 25, 2014 12:17:47 GMT
Well that didn't take long
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Investor
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Post by Investor on Jul 25, 2014 12:03:28 GMT
do let us know when your loading it up
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Investor
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Post by Investor on Jul 25, 2014 11:56:54 GMT
roughly how much?
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Investor
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Post by Investor on Jul 24, 2014 11:32:56 GMT
..... They'd be better off with five £400k loans than one £2M loan, but I expect that's easier said than done. ..... with only a £2M* and a £465KM* loan in the offing/pipeline .... I expect the big'n will be a 12 monthers. There's plenty of narrowboat building/fitting out/restoration going on on the Midlands canals. Maybe Lendy's 6 month rates to the borrower are just too high. *figures corrected from original post. Put yer specs on Grumps!! Q1 465KM? Is that Billions Q2 Where do you buy yer specs from? Q3 Anyone know a guaranteed cure for pedantic a****** like me.
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Investor
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General P2x Discussion
buy2letcars
Jul 24, 2014 11:22:16 GMT
j likes this
Post by Investor on Jul 24, 2014 11:22:16 GMT
So many things I can see wrong with this but like their worked example best!!
"For example, let’s say you were to save £13,500.00 for three years with AB Bank at 2.35% pa locked away for three years. You would get back: £13,500 (your principal) + £776 (your gain after tax) = £14,276 after 3 years. Using the current change in CPI between 2009-2012 (3 years) of 12%, it translates to your £14,276 (after three years) having the same buying power as £12,562.88 in today’s money. In other words by locking your money away for three years at the current derisory savings rates you would have made a net loss £937.12 in buying power over three years! That method will not get your money working harder than you worked for it. By you becoming a buy2letcars client, it simply means you are funding the process of a brand new car (value £15-£16k) being leased out to an essential user. Over the three year leasing period you will gain £4,455 by way of 36 monthly income payments and a one off agreed buy back price."
1. If it is a "agreed buy back price" why not state what that figure is, they seem to take a stab at it in other areas of the website.
2. Have to love a worked example that factors in tax liability, and then further reduces value by factoring in CPI to hit the investement (why would they use a random three years that give a high inflation rate), so you lose £937.12. Yet on the other side of the equation, if you invest with them not only is there no mention of any tax liability, but mysteriously inflation over the three year term appears to be zero as well, so you 'gain' £4,455
Interestingly I can't find anything about the agreed buy back price. Is this supposed to be paid by the borrower, or the sale of the asset. If the former, they seem to imply that their customer base is made up of 'in most cases a key worker (nurse, police etc)' so would question their ability to repay a single completion fee of £8995.00. In fact if they had that sum available I would strongly suggest they just buy second hand on day one. If the latter I would be surprised given the current depreciation of the types of cars likely to be leased that the value would be this high after 3 yrs/ 45,000 miles.
Just my random thoughts but not one for me although I wish them well in their enterprise.
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Investor
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Post by Investor on Jul 22, 2014 15:25:53 GMT
And even more scary when you log back in and see your new portfolio !!!!
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Investor
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Post by Investor on Jul 22, 2014 15:16:57 GMT
Can get to all the other platforms but Ratesetter appears to have crashed.
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Investor
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Post by Investor on Jul 22, 2014 9:51:34 GMT
and of course not forgetting 'What do you can a deer with no eyes'.......No idea
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Investor
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Post by Investor on Jul 21, 2014 21:00:01 GMT
If we didn't put our random ramblings on here there would be no posts! I still like the simplicity of SS. Am slowly reducing my position on some of the other p2p sites that require significantly more effort, research and due diligence in selecting the better loans. Seemed to enjoy the game for quite a while but then realised that the additional effort did not necessarily repay as additional reward.
Would like to see Lendy try to further promote the lendyclassic.com website more aggressively, and possibly change it so it is not so 'classic car' centric but more towards asset based loans on all higher priced cars whether classic or not. Think it is a very lucrative market, would still be likely to be seasonal, but must have more potential customers than boaty loans. All we have seen so far was an Aston Martin (I was secretly hoping they might default at 50% LTV) as I was in the market for a Vanquish at the time. My understanding is that lendyclassic.com has not generated any business yet, and surely the added benefit of having not only a loan for your vehicle, but that is in secure undercover storage for the loan period, would be an excellent sales point.
Just think there is an untapped market there, with easy to value assets, relatively cheap storage, and that the first make the marketing investment to get a foothold in that market space could see a nice return. Would certainly look into it myself if I needed short term capital, mine sits in the garage from October through March unless we get one of those freak warm winter days.
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Investor
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Post by Investor on Jul 21, 2014 20:16:29 GMT
For anyone who missed it, there is a new kid on the block called ablrate.com. Predominantly seem to be setup for flighty loans rather than boaty loans, so geared up for aviation leases. They have their own section in the Other P2P area of the forum. Only reason for posting here is the quote today 'I note from their website that they are expecting to offer some marine and further aircraft loans shortly'. Had a look a few days ago and they are very much in startup phase, first loan is 100k at 10%, looks like a fixed rate however they will also be doing auction based bidding for future loans. As for risk, although I think a boat secured in a marina is a pretty secure asset, I would also think that a 747 (with factory fitted Thatcham alarm) is also a fairly secure asset, and would anticipate the premium for TPFT insurance would be quite low on the Theft part. They are currently being put through the mill by forum members in the usual duedil early day methodology, login is wrong, security is wrong, website is wrong, investor ID process is wrong etc. Same grief we seem to give all the new boys, (should be called the James Marshall Syndrome!) Another interesting piece is that their SM, rather than being the fixed rate or markup/markdown that we are used to, it will also have an option to be auctioned based. Would be interesting to know that given the slow summer SS pipeline, the growth of investors, and the desire for diversification, what we could get by auctioning boaty bits off on the SM. Given the scrum/stampede/opening day of the January sales (delete as applicable) that occurred today, it would seem that anyone getting a boaty bit loan may find its opening marketable value increases beyond it purchase price. Along the lines that a second hand high performance car can cost more than a brand new one when the delivery time for a new one exceeds a few months. Still a fan of SS and they still have the greatest share of my current investments spread across 6 platforms.
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Investor
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Post by Investor on Jul 21, 2014 18:19:20 GMT
Can you let me know the name of the RateSetter employee or Bot developer that is manipulating the markets? Because as the rates have gone up over a percent since Winter ended, I need to sack them for ineptitude. Westonkev it sounds like you are fairly convinced that this is an inside job. Surely if that it the case you should not be expecting members of this forum to run a criminal investigation to find the perpetrator within your organisation. If you believe you have a rogue employee manipulating the market place then it is your reponsibility to set 'honey traps', install surveillance equipment or hire Dick Tracy to expose the fraudster. Like you I have felt that as the rates have only gone by one percent since Winter ended that there is definitely something awry going on. P.s The RV1 bus goes from just around the corner outside your office. Just turn as you come out of the office and you'll see the stop on Southwark Bridge Road. The bus will take you up towards Baker Street, I know a man there who can assist.
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Investor
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Chat
Jokes
Jul 21, 2014 13:08:09 GMT
Post by Investor on Jul 21, 2014 13:08:09 GMT
Nope never heard that, happen to know the guy as I met him at a toga party once, only know he was dyslexic because he was dressed as a goat
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