Verus Capital provides £105,000 loan against 2018 Ferrari 488 Spider in under 2 hours
18th May 2022 - Supercar Pawn and Supercar Colleterial Loan
Verus Capital, specialists in secured short-term loans on prestige and supercars, assisted Essex based property developer with a £105,000 loan against his 2018 Ferrari 488 Spider worth over £165,000.
The client who was experiencing short term liquidity issues for the completion and needed to raise short term development finance for the residential property development, made a direct approach to Verus Capital. The client said "I needed to pawn my Ferrari to raise the funds to complete my development in order to re-mortgage, Verus Capital were quick and didn't require any credit checks"
Verus Capital completed a virtual appraisal & real-time valuation via WhatsApp video. Within 1 hour a principle offer was issued, subject to the physical car check and final valuation.
The client drove his Ferrari 488 Spider to VC’s local professional storage partner to compete a detailed inspection and confirm the final valuation. Within 2 hours the process from valuation to the release of funds was successfully completed.
Paul Hilburn, director at Verus Capital, said: “The process of releasing funds quickly can be challenging due to complex and often lengthy lending criteria, which require and the need for formal credit checks. Verus Capital has become a go-to lender for property professionals looking for short term bridging finance or mezzanine funding to complete their projects. Our clients know they can release the equity from their prestige, classic and vintage cars and pay back penalty free when the project has been completed or refinanced.”
Verus Capital are specialists in secured short-term loans on luxury assets, including cars, property, watches, jewellery, fine wine and art.
Our short-term loans assist our clients in swiftly releasing up to £2 million of equity in their high value belongings.
Verus Capital guarantee our clients privacy with our guaranteed assurance to leave no marks on the client's credit reports.
Funding can be easily agreed remotely subject to the inspection and valuation.
Verus Capital is a family-run business and privately owned, serving a broad range of clients throughout the United Kingdom.