Jaguar XKR15 1991
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£300,000.00
03/03/2017
Equity Release
Accountant
Buckinghamshire
Whilst we always like a challenge. This was a Challenge of a Challenge. A customer came to us wanting to release equity against a very rare car. It was actually undergoing major renovation and the car was completely stripped down. The vehicle was declared off the road to the DVLA. As the car was so rare it was hard for any potential Lender to use any recent auction activity to determine the current market value. Against this the customer wanted to raise £300,00 in a relatively short time-frame (2-3 weeks). So we employed the services of a respected classic car dealer who inspected the car in situ and provided us with a written summary of the car’s condition and most importantly it’s value once restoration was complete. The valuation of the car was in excess of the amount of monies required for the loan. With our in-depth Lender knowledge we found the right funder for the car and our customer was over the moon that his vastly appreciating asset was still in his possession – yet he had the funds released for an exciting new project.
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