Background
The client's classic Ferrari had appreciated substantially and represented a significant portion of personal net worth. Capital was needed to fund a business acquisition without parting with a car owned for fifteen years.
Solution
We lent £1.1 million against the Ferrari — 65% of its specialist-appraised value of £1.7 million. The vehicle was stored in a climate-controlled facility and returned to the client in identical condition when the loan was redeemed eighteen months later.
Client comments
“Exactly the right solution. The car came back in perfect condition and the business acquisition went ahead without a hitch.”