Unlocking Capital For Collectors
Be it their style, story or performance, classic cars are undoubtedly their own works of art. It’s no surprise their sales continue to dominate the luxury market, with a soaring 10-year value appreciation performance in excess of 330%*. Borro Private Finance presents collectors and enthusiasts with extremely attractive means to quickly generate additional capital from classic automobiles without being rushed into a sale.
Our loan options enable clients to retain ownership of their classic cars, leveraging them as collateral, or clients can receive capital in advance while we carefully manage the sale of their vehicle.
* Source: Knight Frank Luxury Investment Index Q1 2018
- Minimum Loan: $100,000
- Typical Terms: 3 to 24 months
- Indicative Loan-to-Value: 40-50% of asset value
Classic and prestige cars with a value of $200,000+, including but not limited to: Ferrari, Lamborghini, Aston Martin, Porsche, Bentley and Rolls-Royce. For assets with a value of $400,000+, accepted makes include: Jaguar, BMW, Land Rover and Mercedes.
For prestige cars, we take into account year, make, model and overall condition based on market pricing. For classic cars, we conduct a thorough review of automotive and international auction houses and consult classic car specialists to assess current value. All vehicles are inspected in person before providing a final loan offer and clients must provide proof of ownership, service receipts and ownership history if applicable. We also review registers of lost and stolen items as part of our diligence.
Logistics, Security & Insurance
With Borro Private Finance, clients have the confidence of insurance and exceptional care and handling of assets during transport, appraisal and storage.
Depending on the progress of the valuation process, luxury assets are insured at either the Replacement Cost or the valuation provided by Borro Private Finance’s experts
For the sake of privacy and security, discreet transporters are used for pickup and delivery of vehicles
Before storage, cars are photographed and undergo a full, documented condition check to assess condition
Vehicles are stored indoors in dehumidified, temperature-controlled facilities with 24/7 monitoring.
While in our care, vehicles receive the following conservation services:
- Bi-weekly tire rotation and battery trickle charge
- Monthly start-up
- Tire pressure regulation (if required)
- Basic cleaning (full-service detailing available) and battery / fluid checks prior to redemption
- 6-Month Loan
- 12-Month Loan
- Acquisition Financing
SYNOPSIS: A client needed to bridge a gap in a property transaction, Borro Private Finance provided the client a $4.2 million loan secured against six classic cars in only seven days.
- Funding: $4.2 million
- Asset Class: 6 Classic Cars (4 Porsches, 2 Ferraris)
- Time-to-Close: 1 Week
Referral: Real Estate Broker
SYNOPSIS: A client needed funds for a tax bill and was referred to Borro Private Finance by his Wealth Manager. The client was able to secure a loan on three classic cars in just two days.
- Funding: $530,000
- Asset Class: 3 Classic Cars (Bentley, Aston Martin, Rolls-Royce)
- Time-to-Close: 2 Days
Referral: Wealth Manager
SYNOPSIS: A client looking to make a purchase from a classic car dealer but short on available funds contacted Borro Private Finance directly and was able to leverage an existing car from his collection to acquire a $159,000 loan to complete the purchase.
- Funding: $159,000
- Asset Class: 1 Classic Car (Ferrari)
- Time-to-Close: 2 Weeks
Referral: N/A (Direct)