Have you been matched with a secured car loan?

aju
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Have you been matched with a secured car loan? Jul 26, 2019 15:52:22 GMT

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Post by aju on Jul 26, 2019 15:52:22 GMT

An extract from this weeks zopa update email.

Have you been matched with a secured car loan?

In July we let you know that we’d soon be ready for you to invest in secured car finance loans and we’re now officially up and running, having disbursed our first few loans. You’ll be able to spot if you’ve been matched with any of these by looking for loans in the ‘AS’ market in your loan book. ‘AS’ simply stands for A-Secured, as we class these loans to be in the same risk market as our A borrowers.

I haven't as yet checked to see if I have any of these ... not sure I'd put car loans in the A Mkt and definitely not that confident in the secured bit. I wonder if Zopa actually knows what car type these people are also borrowing, not dead in the water Diesels I hope...

Edit: I've checked and of the 146 new loans Mrs Aju and 75 I picked up this month so far none are marked as "AS" so none yet for us.

Last Edit: Jul 26, 2019 16:30:19 GMT by aju

coogaruk Hello everyone! Anyone remember me? Posts: 706 Likes: 464	Have you been matched with a secured car loan? Jul 26, 2019 16:25:51 GMT aju likes this Quote Select Post Deselect Post Link to Post Back to Top Post by coogaruk on Jul 26, 2019 16:25:51 GMT I remember when FC used rate their secured property loans as better than A+
	Pensioner. Investor. Ex-Peer to Peer Lender. Executive Producer. Antagonist.

aju
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Have you been matched with a secured car loan? Jul 26, 2019 16:35:51 GMT

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Post by aju on Jul 26, 2019 16:35:51 GMT

Jul 26, 2019 16:25:51 GMT coogaruk said:

I remember when FC used rate their secured property loans as better than A+

Thing is "secured" can be quite nebulous term in many cases. Unless one knows what they are secured against and an accurate valuation on that security then it is worthless to a lender.

benaj
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Have you been matched with a secured car loan? Jul 27, 2019 13:24:57 GMT

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Post by benaj on Jul 27, 2019 13:24:57 GMT

The company has developed its own innovative technology which can assess an applicant’s eligibility for finance within eight seconds and then offer personalised services and solutions.

Nick @ Zopa:

“Our vision is to offer finance products to customers using whatever channel they choose and enable them to transition seamlessly between the dealer showroom and their devices. We have started conversations with dealer groups including franchises, independents and emerging online dealerships.

aju
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Have you been matched with a secured car loan? Jul 27, 2019 13:42:53 GMT

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Post by aju on Jul 27, 2019 13:42:53 GMT

Jul 27, 2019 13:24:57 GMT benaj said:

The company has developed its own innovative technology which can assess an applicant’s eligibility for finance within eight seconds and then offer personalised services and solutions.

Nick @ Zopa:

“Our vision is to offer finance products to customers using whatever channel they choose and enable them to transition seamlessly between the dealer showroom and their devices. We have started conversations with dealer groups including franchises, independents and emerging online dealerships.

sadly their vision is using our money, investors that is, to give us interest rates and NAR charts that IMHO do not bear any resemblance to what I believe is my returns. I've still to get round to looking at how they come up with the figures for the new fangled NAR as to be honest its giving me figures that have little relevance to the csv files both statements and loanbook seem to suggest to me.

I wonder if they are doing this in weekly, since they removed the weekly stats they used to supply, as its almost impossible to gauge or line up the info with data available to investors.

That article leaves quite a bit to be concerned about especially this bit

Zopa stands for Zone of Possible Agreement, the mutual point at which a buyer and seller can reach a deal, which reflects the website’s role in automatically matching investors with borrowers at mutually beneficial interest rates.

I suppose they are technically correct that's what it did stand for when we had the opportunity to create a zopa of agreement but I'm not sure it's been that way for quite some time now .... for me RS is much more capable of this approach than Zopa has been for a long while...

Edit: Actually I wonder if the article at this point was even talking about Zopa itself having looked up Zopa as a term I see that Zopa the p2p stole that name from a bargaining term.

Last Edit: Jul 27, 2019 14:46:21 GMT by aju

Have you been matched with a secured car loan?

Post by aju on Jul 26, 2019 15:52:22 GMT

Post by coogaruk on Jul 26, 2019 16:25:51 GMT

Post by aju on Jul 26, 2019 16:35:51 GMT

Post by benaj on Jul 27, 2019 13:24:57 GMT

Post by aju on Jul 27, 2019 13:42:53 GMT