One of our long-standing motorsport customers set us the challenge to fund an internationally based race car. We pulled out all the stops and went the extra mile to ensure the deal went smoothly and everything was completed in time.
The Challenge
The motorsport company, based in Lancashire, are a long-standing client of Moorgate Finance and have been coming to us for over three years for their motorsport requirements. They were on the hunt for a BMW Race Car for the Endurance Cup and eventually managed to find one. The big challenge was that it was located in Spain, and they needed full payment before releasing the vehicle to the UK. In order for payment to be completed, a member of the Moorgate sales team had to make a 24 hour round trip to carry out an in-person asset inspection.
The Solution
After a quick trip to Madrid to view the vehicle, payment was paid in full, and the car was transported back to the UK for the customer. Our broad lending panel meant Moorgate Finance were able to cater to an international payment and make sure the deal was completed with no delays.
Moorgate Finance were able to finance £62,000 for the race car as a hire purchase over a 60-month term. This allowed the client to secure another driver for the 2025 season and continue to keep the car running in the championship for the next 5 years.
The Highlights
✅Client required funding for a race car based in Spain
✅The Moorgate Team took a 24 hour round trip to complete an asset inspection and get the car transported back to the UK
✅£62,000 funded over a 60-month term
✅ The car has enabled them to secure another driver for the 2025 season
Give us a call on 01908 92 62 62 or head to www.moorgatefinance.com/apply-now to start the conversation.