- More and more classic car owners are turning to equity release and refinancing
- JBR Capital witnessed a 54% increase in equity release deals during 2018*
- Visit stand C50 at The London Classic Car Show to find out more
JBR Capital, the UK’s leading independent high-end vehicle financier, has confirmed a 54 per cent increase in equity release and refinancing deals in 2018, compared to the previous year.
This trend is revealed as more and more classic car owners are turning to equity release to free up cash from their cars, to put towards other purchases and investments.
Equity release enables motorists to keep hold of their classic cars, either as long-term investments or part of cherished collections – even when the capital in these high-value vehicles is required elsewhere.
The staggering increase in this type of premium car finance, within a year, coincides with the growing value gap between the very best and less favourable examples of collectable classics.
Darren Selig, Executive Chairman at JBR Capital, said, “The classic car market didn’t grow in 2018 to the level of previous years, but we’re still seeing the very best cars hold if not increase their value, whereas poorer examples are no longer as desirable, so prices have stagnated and fallen.
“We’ve seen a big increase in equity release, as classic car owners want to release cash from their cars without having to sell them – both to benefit from the future value increase and to use their money for other things.
“One client, for example, released equity in his collection of classic Ferraris to free up cash for a property investment – a common use of capital among our clients. Thanks to our bespoke underwriting process, our client had access to the cash within a matter of days, enabling him to move quickly on his property purchase.”
For more information on high-end vehicle finance, go to www.jbrcapital.com. JBR Capital offers tailored equity release, refinance, auction and restoration finance solutions.
Visit JBR Capital on stand C50 at The London Classic Car Show (14-17 February) where a rare right-hand drive Porsche 2.7 RS Lightweight valued at £1 million will be displayed, courtesy of Hexagon Classics.
* Based on JBR Capital data from 1 January 2018 to 31 December 2018, compared to the same lending period in 2017