m2btj
Member of DD Central
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Post by m2btj on Nov 15, 2017 9:59:22 GMT
Are investments/loans in car sales really the place we should be investing in going forward considering the past 4 months industry sales figures plus ancillary negative press surrounding a range of associated motor trade subjects? Cars generally fair badly in distressed sale situations often fetching far less than dealer or 'book' values. I generally like to see LTV of no more than 60%.
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Post by ladywhitenap on Nov 15, 2017 10:07:39 GMT
Would like to see better loans from MT Agreed. I wonder if there is a dearth of loan applications about generally or if MT are devoting a lot of time to the problem loans already on the book? Little sign of the MTIFISA either. I'm gradually weaning myself out of Lendy in favour of ABL and MT due to lack of confidence in LL but cash is building up and I might have to look for another platform or another BTL flat perhaps? LW
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Post by Badly Drawn Stickman on Nov 15, 2017 10:12:42 GMT
Are investments/loans in car sales really the place we should be investing in going forward considering the past 4 months industry sales figures plus ancillary negative press surrounding a range of associated motor trade subjects? Cars generally fair badly in distressed sale situations often fetching far less than dealer or 'book' values. I generally like to see LTV of no more than 60%. The LTV on these is a curious set up in truth, ultimately it is realistically 90% of purchase price. Not a lot of leeway to work with in a trade sale. Having said that cars are a lot less trouble to sell than land or houses, and the associated costs are a lot less. I'm inclined to have a punt on this first batch and see what happens, only a few months needed to see how they pan out.
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archie
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Post by archie on Nov 15, 2017 10:19:57 GMT
I'm inclined to have a punt on this first batch and see what happens, only a few months needed to see how they pan out. There are two existing loans to the same company on MT. Both due to end next month.
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Post by Badly Drawn Stickman on Nov 15, 2017 10:37:08 GMT
I'm inclined to have a punt on this first batch and see what happens, only a few months needed to see how they pan out. There are two existing loans to the same company on MT. Both due to end next month. My left hand refuses to accept responsibility for my right hands actions. You are totally right, worse than that I have an investment in both.
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Post by MoneyThing on Nov 15, 2017 10:38:12 GMT
Cars generally fair badly in distressed sale situations often fetching far less than dealer or 'book' values. I generally like to see LTV of no more than 60%. The LTV on these is a curious set up in truth, ultimately it is realistically 90% of purchase price. Not a lot of leeway to work with in a trade sale. Having said that cars are a lot less trouble to sell than land or houses, and the associated costs are a lot less. I'm inclined to have a punt on this first batch and see what happens, only a few months needed to see how they pan out. Morning. Just as an FYI, the LTPP (loan to purchase price), of the first two cars (Porsche 911 & Mercedes AMG GT), were 64% & 73% respectively. The original 911 is likely to be repaid this Friday & the Mercedes next week (both have had deposits on them). Regards, Ed.
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Post by Badly Drawn Stickman on Nov 15, 2017 10:52:27 GMT
The LTV on these is a curious set up in truth, ultimately it is realistically 90% of purchase price. Not a lot of leeway to work with in a trade sale. Having said that cars are a lot less trouble to sell than land or houses, and the associated costs are a lot less. I'm inclined to have a punt on this first batch and see what happens, only a few months needed to see how they pan out. Morning. Just as an FYI, the LTPP (loan to purchase price), of the first two cars (Porsche 911 & Mercedes AMG GT), were 64% & 73% respectively. The original 911 is likely to be repaid this Friday & the Mercedes next week (both have had deposits on them). Regards, Ed. That certainly sounds good, but raises the question why is LTPP not being used as the basis on this batch, or at least indicated for reference.
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11025
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Post by 11025 on Nov 15, 2017 11:27:18 GMT
The LTV on these is a curious set up in truth, ultimately it is realistically 90% of purchase price. Not a lot of leeway to work with in a trade sale. Having said that cars are a lot less trouble to sell than land or houses, and the associated costs are a lot less. I'm inclined to have a punt on this first batch and see what happens, only a few months needed to see how they pan out. Morning. Just as an FYI, the LTPP (loan to purchase price), of the first two cars (Porsche 911 & Mercedes AMG GT), were 64% & 73% respectively. The original 911 is likely to be repaid this Friday & the Mercedes next week (both have had deposits on them). Regards, Ed. The figures are encouraging and they are fine when everything is going according to plan ,
but I am concerned that we are funding at or very close to trade money , my worry is if the vehicles had to be taken and disposed of quickly then we may just recover the money owing ,
I would be more comfortable knowing the purchase price - what percentage it is of Glass trade , and how much the buyer is putting in .
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Nov 15, 2017 12:05:12 GMT
Snap decision, I've gone in for the full allocations. All things considered, P2P is always a calculated gamble and what swung it for me was the short Terms.
Toe in the water as has been said, I usually don't touch "normal" cars, only Classics.
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Post by steelspanner on Nov 15, 2017 12:05:36 GMT
5 minutes and all gone
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andy1
Member of DD Central
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Post by andy1 on Nov 15, 2017 12:06:01 GMT
All gone inside 5 minutes...
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m2btj
Member of DD Central
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Post by m2btj on Nov 15, 2017 12:08:31 GMT
I was in the thick of the 4 minute melee but managed to get my paws on four more luxury cars!
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robski
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Post by robski on Nov 15, 2017 12:21:12 GMT
Damn, terrible timing for a false alert fire alarm at work
I deposited funds for this as I had been drawing down due to being around max per loan, now I need to decide whether to sit or pull it back out
With loans being slow it could be there for some time
Could just throw it around I guess
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archie
Posts: 1,838
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Post by archie on Nov 15, 2017 12:26:02 GMT
Damn, terrible timing for a false alert fire alarm at work I deposited funds for this as I had been drawing down due to being around max per loan, now I need to decide whether to sit or pull it back out With loans being slow it could be there for some time Pipeline loan 120 may launch this week. Edit : Pipeline loan 119 too.
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Post by Badly Drawn Stickman on Nov 15, 2017 12:27:40 GMT
Damn, terrible timing for a false alert fire alarm at work I deposited funds for this as I had been drawing down due to being around max per loan, now I need to decide whether to sit or pull it back out With loans being slow it could be there for some time Could just throw it around I guess There is a rumor that another loan will launch this week, maybe MoneyThing could update. Edit, Or what Archie just said.
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