aju
Member of DD Central
Posts: 3,500 
Likes: 924
|
Post by aju on Mar 6, 2018 15:47:13 GMT
So that's why the rates I'm getting are going down and down. More info here. |
|
|
|
Post by wyndstryke on Mar 6, 2018 16:14:04 GMT
If I remember correctly the car loans are not P2P? (i.e., we don't get a slice). They're secured loans with the car as collateral, and are funded via venture capitalists.
These are different from the normal unsecured loans where the borrower can say that they're for a car, which are the loans we see.
|
|
benaj
Member of DD Central
N/A
Posts: 5,606
Likes: 1,737
|
Post by benaj on Mar 6, 2018 16:40:49 GMT
I've checked my all time loan book from Zopa Plus, Zopa lends to everyone from A* to E borrowers. Borrower rates:Lowest rate is : 2.84% Highest rate is: 31% Lowest investor rate is 2.34%I don't think the lower return rates of Zopa current products have anything to do with car loans. I think Zopa can easily sell a high risk high return product, instead what they are doing now is simply just slightly better rate than high street banking with no FSCS protection for higher risks. I don't think zopa intends to seduce investors to invest p2p for 2.34% return with a default rate of 0-1%.
Expected annual default rate here. |
|
aju
Member of DD Central
Posts: 3,500
Likes: 924
|
Post by aju on Mar 6, 2018 17:34:30 GMT
If I remember correctly the car loans are not P2P? (i.e., we don't get a slice). They're secured loans with the car as collateral, and are funded via venture capitalists. These are different from the normal unsecured loans where the borrower can say that they're for a car, which are the loans we see. You may be right but either way its not good news is it. when I've finished my monthly stats run ;-) I'll see what loans I've got on the CAR front and see what they borrowing at.
|
|
benaj
Member of DD Central
N/A
Posts: 5,606
Likes: 1,737
|
Post by benaj on Mar 6, 2018 18:26:24 GMT
If I remember correctly the car loans are not P2P? (i.e., we don't get a slice). They're secured loans with the car as collateral, and are funded via venture capitalists. These are different from the normal unsecured loans where the borrower can say that they're for a car, which are the loans we see. VC? Thanks. It's better to have a slice in those VCs
|
|
ding
Member of DD Central
Posts: 238
Likes: 132
|
Post by ding on Mar 7, 2018 19:23:16 GMT
If I remember correctly the car loans are not P2P? (i.e., we don't get a slice). They're secured loans with the car as collateral, and are funded via venture capitalists. These are different from the normal unsecured loans where the borrower can say that they're for a car, which are the loans we see. You may be right but either way its not good news is it. when I've finished my monthly stats run ;-) I'll see what loans I've got on the CAR front and see what they borrowing at. I have Zopa core loan at 1.09% (Home improvements). Next smallest is a large list of 2.14%. Highest 16.71% Only 2k in core, probably will withdraw the money as it comes in.
|
|
benaj
Member of DD Central
N/A
Posts: 5,606
Likes: 1,737
|
Post by benaj on Mar 7, 2018 21:40:55 GMT
I have Zopa core loan at 1.09% (Home improvements). Next smallest is a Only 2k in core, probably will withdraw the money as it comes in. Seriously? 1.09% for Zopa Core A*? With the default rate of 1%, the projected return could be as low as 0.09% 
|
|
ashtondav
Member of DD Central
Posts: 1,814
Likes: 1,092
|
Post by ashtondav on Mar 8, 2018 8:33:27 GMT
Money saving expert has the lowest rate, for high value loans, at 2.8%.
Surely there is some mistake?
|
|
