For Moorgate Finance, being based just outside Silverstone – the heart of British Motorsport – means Motorsport Finance comes naturally to us. It’s always an exciting industry to work with, and there was no exception on this recent deal…
A customer approached us looking to purchase a new TCR Race Car for the 2024 season. With in-house specialists for Motorsport Finance, the customer knew they could rely on us to make the process easy, avoiding any of the ‘typical’ hurdles you could face when trying to finance a race car. Our connections in the industry and motorsport-specialist lenders help to keep things simple and stress-free.
The Challenge
The challenge came with trying to find the right vehicle for the customer. Knowing a lot about the industry ourselves, we were able to help the customer with their search, offering extended support beyond just the funding requirement. After a couple of months of working closely together we were able to locate the right vehicle and start the funding application process.
The Solution
The new race car was crucial to this Motorsport business and its’ ability to take on another driver to compete in the TCR series. We were therefore so pleased to secure a deal for them, financing £90,000 with a 10% deposit over a 48-month term. A balloon payment at the end of the term ensured the monthly payments were affordable for the customer – in turn allowing them to take on that additional driver!
The Highlights
- £90,000 financed with a 10% deposit.
- Deal secured over a 48-month term with a balloon payment for affordable monthly payments.
- Allowed team to onboard a new driver for 2024 season.
We’re looking forward to the 2024 season and seeing what these guys can achieve in the TCR series.
Make a 2-minute, no obligation application that won’t impact your credit score here: www.moorgatefinance.com/apply-now or call 01908 92 62 62.