sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Mar 3, 2017 1:26:18 GMT
A brand new 2017 Bentley Bentayga 6.0 TSI , with a value of £230,000.
Loan Amount: £160,000
Interest: 12%
LTV: 70%
The first problem is the valuation appears to include VAT at 20%. Not sure how we get that back if it defaults ?
The second problem is that the 2018 model will be available by the time the loan ends and the loan extension excuses expire.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Mar 3, 2017 10:42:58 GMT
Love this site, would never have thought of the VAT angle, thanks sqh. Have you asked FS for clarification? Just realised that you/we don't need to check, these things Retail @ c£230K so VAT is obvs included - doh! (<- me, not you sqh  ) Mind you, upon checking, these beasts appear to currently sell secondhand for around £150-160K so maybe the Valuation is correctish? Which means if there's a Default it will be tight - maybe Capital back but probably/possibly no interest? 29% filled @ 11:05 and been that level for a couple of minutes ............................. |
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arbster
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Post by arbster on Mar 3, 2017 11:04:55 GMT
What a spectacularly ugly thing. I couldn't possibly invest, on principle, and there's a very real risk that wealthy people will come to their senses sometime and the resale value will plummet.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Mar 3, 2017 11:06:47 GMT
Who said the really wealthy had taste - gold plated taps anyone?? |
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Mar 3, 2017 11:10:12 GMT
Seems the punters are getting more wary these days, 31% @ 11:10
34% @ 11:15
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r1200gs
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Post by r1200gs on Mar 3, 2017 11:17:36 GMT
Given that it is brand new .........why buy the darn thing in the first place if you need to borrow via FS? I think it's dealer stock. Cash flow issue?
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r1200gs
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Post by r1200gs on Mar 3, 2017 11:18:50 GMT
What a spectacularly ugly thing. I couldn't possibly invest, on principle, and there's a very real risk that wealthy people will come to their senses sometime and the resale value will plummet. I feel exactly the same!
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Mar 3, 2017 11:32:30 GMT
Someone likes the cut of its jib, a whale splashed in at £10,000!
Proceeding nicely though, 45% @ 11:32 .................... and 46% @ 11:43
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ianj
Member of DD Central
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Post by ianj on Mar 3, 2017 11:42:52 GMT
What a spectacularly ugly thing. I couldn't possibly invest, on principle, and there's a very real risk that wealthy people will come to their senses sometime and the resale value will plummet. Does common sense go out the window as wealth increases?  Fortunately, I have no scruples when it comes to the aesthetic value of investments. To be so inclined would leave me only ever investing in country cottages with roses growing around the door! 
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Mar 3, 2017 13:01:57 GMT
Well, the Beamer is filling quicker, much better offering even if only 10% - it's 53% at 2 minutes in.
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r1200gs
Member of DD Central
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Post by r1200gs on Mar 3, 2017 13:06:33 GMT
Well, the Beamer is filling quicker, much better offering even if only 10% - it's 53% at 2 minutes in. Yup, I went for the BMW. Much more saleable.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Mar 3, 2017 13:17:23 GMT
The Bentley is far too iffy for me, and I do like cars as a diversification, however I, like most of us, am getting much more cautious as time goes by - I wouldn't touch a 70%er of anything.
There's a reasonably serious "Correction" coming who knows when, and with all the ABP2Ps then selling their Defaulted Assets in a Massive Fire Sale all at once..........well you do the maths!
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Post by d_saver on Mar 3, 2017 13:32:27 GMT
Who said the really wealthy had taste - gold plated taps anyone?? If they were wealthy, would they be getting an FS loan?
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ashtondav
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Post by ashtondav on Mar 3, 2017 14:14:34 GMT
I suppose its more of a Knightsbridge trailer than a Chelsea tractor.
I'm in for £100.
And the Beamer.
My, what a change from slum clearance in Liverpool!
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
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Post by ozboy on Mar 3, 2017 14:14:39 GMT
Asset Rich, Cash Poor?
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