A well-established precision engineering and manufacturing business was looking to acquire a brand-new Ferrari 296 Challenge as part of its wider marketing and customer engagement strategy. The car would play a key role in client hospitality, networking and customer experience days at some of the UK’s leading circuits.
The Highlights
✅ Lower monthly payments than the manufacturer’s finance provider, helping improve cash flow
✅ Customer track experiences at Silverstone, Donington Park and Croft
✅ New networking opportunities, helping strengthen existing relationships and open doors to new customers
The Challenge
The Ferrari was planned as a key part of the company’s customer engagement activity, with the vehicle being used extensively for client hospitality, networking events and customer experience days. Providing existing and prospective customers with exclusive track experiences at some of the UK’s most prestigious circuits, including Silverstone, Donington Park and Croft. These events would allow the business to strengthen relationships with key customers, reward existing clients and create new business opportunities through high-value networking within a motorsport environment.
With the company’s engineering background and performance-focused culture, motorsport was a natural fit for its wider brand and marketing strategy. The customer initially approached the manufacturers finance provider, but the available funding structure didn’t meet their requirements. In particular, they couldn’t achieve the required balloon payment profile, which was important in keeping the monthly repayments at a level that worked for them.
The Solution
Moorgate Finance were able to secure a specialist funding solution that met the customer’s requirements and the planned use of the asset. The £246,000 Ferrari 296 Challenge was financed over 36 months on Hire Purchase, with a rate lower than the manufacturer’s finance provider offered. We also achieved a more suitable finance structure for the business’ requirements, helping to reduce the monthly payments and improve cash flow, with no personal guarantee required.
The Ferrari now provides the business with a valuable platform for customer hospitality, track days and networking. Alongside strengthening existing relationships, the car has attracted interest from motorsport businesses and individuals, helping create new opportunities within the sector.
Need funding solutions like these for your business? Give us a call on 01908 92 62 62 or head to www.moorgatefinance.com/apply-now to start the conversation.
