High-end vehicle financier JBR Capital revealed July 2019 was its most successful month for car finance since it was founded over four years ago.
The largest amount lent during the month in a single transaction was for a Ferrari, with the pay-out reaching almost £2.5m.
Porsche, Range Rover and Lamborghini were the most financed marques during the month of July, followed by Ferrari, Audi and Mercedes-Benz. The top three models were the Audi R8, Lamborghini Huracan and the Porsche 911 991 GT3.
Along with financing supercars and prestige vehicles, JBR Capital has found that high quality classic cars with provenance are still in strong demand. The upward trend in equity release is also continuing with more classic car owners using JBR to free up cash from their cars, to put towards other purchases and investments.
Stephen Halstead, chief operating officer at JBR Capital, said, “July’s performance is a credit to the whole team who continue to work extremely hard on providing the very best service to our introducers and customers. We have a clear focus on further improving our products and services and as such we’ll be announcing a range of new initiatives in the coming months.”
For the year ended 30 December 2018, JBR Capital saw revenues increase by more than 50% to £16.5m while profit before tax more than doubled year-on-year to £2.3m.
With regards to Brexit, the report said that the directors have “assessed the potential impact of the uncertainty attached to the outcome of the Brexit negotiations and the shape of any eventual withdrawal deal from the EU.
“The economic impact cannot be fully understood at this stage, and political and economic commentators differ significantly in their assessment of the potential severity of the risks associated with each outcome. The directors do not expect the company to be directly impacted by changes to future trading arrangements with the EU and the rest of the world.”