ASTON MARTIN OWNERS CLUB BONDS WITH SUROS CAPITAL
With hyper-inflation and the squeeze on everyone's finances, HNWI, specifically Aston Martin Owners, are set to have a liquidity solution thanks to a new finance partnership between The Aston Martin Owners Club and luxury asset lending firm, Suros Capital.
Suros Capital has been chosen as specialist lender by the prestigious club, due to its strong credentials in short-term lending to the wealthy who own valuable assets including fine art, fine wine, luxury watches, diamond jewellery and other collectible pieces,
Customers tend to be entrepreneurs who face occasional liquidity challenges or looking for rapid capital injection to secure new growth opportunities.
Supercars as collectors' items, have surged in value in the past few years, indeed, according to the 2023 Knight Frank Wealth Report's Luxury Investment Index, Classic Cars have risen on average by 25% in the past year, which is the biggest increase in the past 9 years.
Speaking about the opportunity, Ed Blackmore, Suros Capital's Business Development Director said:
"This past year, Suros Capital has seen a significant rise in enquiries for borrowing against Classic and Supercars
With strong gains likely still to made, many Car Collectors would rather borrow against their asset, rather than sell and miss out on the potential of further inflation-busting rises. Additionally, we can also support car owners with sales and new purchases through our range of lending services."
Richard Butler FCMI Director of Club Development, Aston Martin Owners Club concurred with this sentiment: "In addition to the investment potential, Aston Martin owners tend to be very attached to their cars which makes it difficult when faced with justifying ownership if finances are occasionally stretched. For this reason, we are delighted to now be able to offer our members the option of unlocking the value of their asset should they have short-term needs during this challenging economic climate."
Suros has already completed a number of transactions against luxury cars this year. One customer, a HNWI facing a significant school fees bill, was set to refinance his home but was unable to arrange the deal quickly enough. His financial advisor suggested that his Vintage Aston Martin DB6 could potentially be used instead. Suros was approached and was able to complete the 5-month loan of £75,000 in just 48 hours.
Another customer leveraged their classic vehicle to raise a 10-month loan of £200,000 to close an investment opportunity.
Since the asset is secured against the loan, all transactions are fast and confidential, requiring no credit checking.
Suros Capital determines the estimated value of cars by considering year, make, model, ownership history, restoration, maintenance, registration, and overall condition based on market pricing.
If it is a classic model, the company will also consider any information located from auction, gallery or private sale records and liaise with car specialists.
The company offers an online, home visit or alternative location appraisal service, though a final loan offer cannot be given until the asset(s) has been inspected in person.
Once agreed, Suros Capital, has a robust procedure for ensure the car's protection whilst in its care.
ENDS
For further information, Contact Caroline Fosbury at the Suros Capital Press Office - E: caro@fosburypr.com or T: +44 (0) 7973 318973
About The Aston Martin Owners Club
The Club's guiding principles are to create an interest in Aston Martin, celebrate the pastime of motoring and motorsport and encourage Members to share their passion for Aston Martin. Membership is open to Aston Martin enthusiasts as well as owners. Join today to become part of the award-winning Club, the Aston Martin family and its history.
Each year the Club stages a diverse range of events for Members all over the world, celebrating both the historic and modern eras of Aston Martin. There is something for everyone, summer picnics, local and international drives and tours in addition to world-class Concours d'Etat events and black-tie dinners.
For those with a ‘need for speed' AMOC offers Racing, Sprinting, Hill climbing and track days, as well as organised trips to events such as Classic Le Mans.
About Suros Capital
We are a specialist lending company providing loans secured against luxury assets. Our short-term loans are designed for clients with liquidity challenges who need to raise funds quickly.
The group we are part of has lent over £200 million against luxury assets since 2010 and we are funded by Crestline Investors, Inc.(‘Crestline'), an institutional alternative asset manager. Headquartered in Fort Worth, Texas, Crestline maintains affiliate offices in New York City, Chicago, London, Toronto and Tokyo.
Our experience in asset-based lending combined with our in-house and independent appraisals panel enables us to create tailored lending solutions for our clients.