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Post by angrykittens on Nov 17, 2017 13:12:06 GMT
Standard 6 month loan against a Bentley Mulsanne.
The borrower has taken a loan out against the same vehicle twice before and repaid on time.
Value: £90,000.00
Loan Amount: £60,000.00
LTV: 66.67%
Interest Rate: 12.00%
Restriction: £250
Description:
2013 Bentley Mulsanne V8 with 28,000 miles on the clock. Cream leather interior with only one owner.
Full dealership history, standard features, Satellite Navigation, Air-Conditioning (Automatic), Cruise Control, Vehicle Distance Control, Alloy Wheels (20in), Parking aid and Reversing Camera.
Looks like a reasonable one this? Only model from that year on AutoTrader is going for 87.5k with similar miles. Both previous loans were repaid early at similar LTV ratio. Although it appears to have lost 25k in value in just under 2 years while only gaining 70 miles?
Previous loans: 1869458803, 1710331090
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Nov 17, 2017 14:40:53 GMT
Certainly miles better than the property FS offers. Shame it's a £250 limit but understandable why, I just hope I can get in front of the stampede at 3 pm!
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Post by beepbeepimajeep on Nov 17, 2017 15:03:16 GMT
Certainly miles better than the property FS offers. Sending a £100 admin fee to release £50,000,000 Nigerian inheritance is possibly a better investment than some of the property loans I have seen.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Nov 17, 2017 15:19:27 GMT
I couldn't possibly comment.  V strange that the Rolex took a while to shift, maybe because of its £50 limit, not worth the bother for some/most? I only banged in because it was available when I was on starting blocks for the Bentley. |
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adrian77
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Post by adrian77 on Nov 17, 2017 15:25:07 GMT
Indeed and as per above comments very easy to validate the value - this looks a very tasty and desirable motor to me which would be very easy to shift at least the loan value if the lender defaults. In fact I think the resale value is probably about the same as a certain speedboat (with £600K loan?) so bit of a no-brainer!
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markr
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Post by markr on Nov 17, 2017 15:36:52 GMT
V strange that the Rolex took a while to shift, maybe because of its £50 limit, not worth the bother for some/most? I only banged in because it was available when I was on starting blocks for the Bentley. Even the Bentley seems to have stalled, still only 80% filled after half an hour!
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peteuk
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Post by peteuk on Nov 17, 2017 16:43:02 GMT
I am still running down my position in FS , but still tempted with pawn loans and cars that seem good value. After all its about getting your money back that counts
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r1200gs
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Post by r1200gs on Nov 17, 2017 17:05:55 GMT
I am still running down my position in FS , but still tempted with pawn loans and cars that seem good value. After all its about getting your money back that counts I've come to exactly the same conclusion. I sold out of most of my holdings in protest at Whitehaven and a turbine that merely needed connecting to the grid. Yea, right. However, it's just silly to ignore good loans that can mitigate the damage done by others. FS management remain unforgiven and untrusted though, and I will only invest when I'm very happy indeed with the loan. This car being one.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Nov 17, 2017 19:39:45 GMT
Basically it's "Don't cut off your nose to spite your face" I suppose.  |
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rs
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Post by rs on Nov 23, 2018 13:25:26 GMT
Strange how this is still not 100% filled. Looks like lenders have all gone away for winter!
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Post by beepbeepimajeep on Nov 23, 2018 13:36:43 GMT
Yeah imo this is pretty good for 12% and surprised it did not snap fill like a rolex or diamond. Disclaimer : I know nothing and thought Collateral were pretty good also  |
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adrian77
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Post by adrian77 on Nov 23, 2018 13:38:17 GMT
I don't doubt it will fill ... probably worth more than the endurance boat with about £1m against it - speaking of which this latter one seems to be slowed down to about a standstill.
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picnicman
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Post by picnicman on Nov 23, 2018 13:39:55 GMT
Strange how this is still not 100% filled. Looks like lenders have all gone away for winter! Not necessarily - yes this applies to new lenders, but those lenders who already hold £250+ are barred from investing further for the first 24 hours. Cheers P
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rogerthat
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Post by rogerthat on Nov 23, 2018 14:39:16 GMT
Strange how this is still not 100% filled. Looks like lenders have all gone away for winter! Not necessarily - yes this applies to new lenders, but those lenders who already hold £250+ are barred from investing further for the first 24 hours. Cheers P Erm..are you sure about that ? what is to stop you having £250 in main and IFISA ?
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mullet
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Post by mullet on Nov 23, 2018 14:48:28 GMT
I was in this one previously but have chosen not to renew.
The 90k valuation is now 1 year old. If it were to run on beyond the 6 month and then drag on like the Landrover Defender after that then you have to subtract 2 years depreciation from that 90k, which takes you to maybe 75k (I've made up that number - I know nothing about Bentleys)
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