Car - 1990 Porsche 911 (964) Carrera 4
Cash Price - £90,000.00 (After restoration)
Deposit - £0.00 Nil
Balance - £29,000.00 increased to £47,221.98
Equity Release £18000.00 – LTV 52.46%
Residual - £47,221.98
Product - Lease Purchase – Residual (balloon)
Term - 48 months x £386.45 pcm
My client’s original deal with lender was £29,000 and interest only on a Lease Purchase facility, but the vehicle had a comprehensive restoration thus increasing the value of the car. After re-valuation, I was able to release £18,000.00 of equity from the car. The client is a HNW with a small but discerning collection of cars.