Andy King, CEO of broker Apollo Capital alongside David Moss, MD, were initially introduced to their customer, a COO executive in London, by one of their high value car dealers.
In this introduction, Andy used his experience working with high net worth individuals to find out more about the customer’s car funding needs, establishing he’s already a passionate car enthusiast, itching to increase the number of cars in his collection. The customer had a number of vehicles on the investment wish list, first of which was an extremely rare recreation 1938 Bentley Blower, that he saw as both a great investment and also something to enjoy the miles in whilst turning heads at classic car shows and events with the family.
Through his close relationship with our specialist car team, Andy knew our wide appetite for vintage cars and high net worth collector customers like this. He contacted the team to discuss the customer, supplier and car, and with our deep experience in the prestige car market, we were able to provide a competitive finance solution for the asset over four years. Presenting this quote to his client, they were pleased with the profile of the 4-year lease purchase deal proposed which included an initial deposit and an Aldermore specialist balloon payment at the end of term.
With the customer happy with the deal in principle, Andy collated their full financial information with supporting documents and submitted all the necessary information to allow our specialist car underwriters to approve the deal in less than a day.
With the deal swiftly approved, Andy’s Apollo team, alongside our pay out team pulled together all the necessary paperwork for the customer to sign, which we turned around the same day as received. From an enquiry on the Monday, to being paid on the Friday, the customer was delighted to be able to pick up his new car on Saturday, in that same week.
Andy King, CEO, Apollo Capital said:
“The client was blown away with how quickly Apollo and Aldermore worked together to turn around a complex deal of this nature. The combination of Aldermore’s expertise in quickly understanding the customer, supplier and asset, alongside the speed of process, really impressed our customer. Aldermore are a key funder for us, and deals like this show how powerful a close relationship between broker and lender can deliver excellent outcomes for the customer. We look forward to working on many more in the future.”
James Roberts, business development manager, Aldermore said:
“I was delighted to support Andy and his customer with this deal for such an iconic, classic car. We greatly value Andy and his team’s expertise in working with both prestige cars and individuals. The quality of business we receive comes from the strong partnership we’ve developed over the years, and I look forward to it continuing to go from strength-to-strength.”
Find out more about Asset Finance with Aldermore.