Finance provider Magnitude Finance has revealed a recent Lamborghini buyer is currently paying £410 a month for their car thanks to a tailored finance package.
This is around £35 LESS than a randomly-chosen BMW X3 xDrive20d SE would cost on a similar two-year finance deal.
Just two points to note: the deal for the Lamborghini Gallardo LP570-4 Spyder Performante is an interest-only package.
And, unlike the £6,000 deposit required for the BMW deal, it demanded an £86,000 deposit on the £165,000 car…
But far from being a deterrent, Magnitude director Tim Marlow said the tailored scheme was exactly what the customer demanded. “Clients are financing supercars to take advantage of historically low interest rates and we structure packages typically over two years so they can move into the latest models and offset depreciation.
“This strategy also gives them more options by not tying up their capital.”
The ‘free’ Ferrari 458 Spider
Marlow also revealed another tempting deal that saw a customer take delivery of a £206,000 Ferrari 458 Spider last month without actually paying for it.
Indeed, they won’t begin payments until the end of April, when the client’s new financial year begins.
“The client wanted to buy the car because it was very competitively priced but did not want to start making payments until a couple of months later.” This enabled him to “benefit from the discounted ‘off-season’ price.
“As part of our concierge service, we were able to meet the request thanks to our established relationships with so many lenders, passing the flexibility on to clients.
“It resulted in the client being able to enjoy driving the 458 straight away without having the concern of making payments until a more convenient time which suited his plans and also meant he could benefit from the discounted ‘off-season’ price.”
Both are examples of Magnitude’s special credit lines, says Marlow – ones not available to the general public or car dealers.
Oh, to be a “high net worth individual buying luxury goods priced at over £200,000”…