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Why financing Supercars is becoming less viable

Why financing Supercars is becoming less viable - News

Over the last few months, the catastrophic effect of the COVID-19 pandemic has seemingly impacted almost every business in some way. Whether that’s a positive impact, or as is perhaps more noticeable, a negative one, it has shocked the world and left industries scrambling. 

The supercar industry sadly also falls into the latter category. With the heavy effect on what banks are willing to offer, it became ever present that the amount of money they put towards finance and how it works is changing. 

Before the pandemic, financing a supercar was arguably the best way of acquiring your dream vehicle as soon as possible. However, over the past few years these costs have seemingly risen. 

YouTube vlogger Paul Wallace has noted in a recent video that “Lenders are taking a cautious approach” to helping finance supercars. Whereas before they would have valued the car upon the end of term at a higher cost, they are now being increasingly frugal and valuing it lower. 

This essentially means that the overall cost needed to pay per month for the buyer is at a much higher rate due to the lower value of the vehicle at return. 

This means that the industry in general is now harder pushed to find people with a strong enough salary etc. to consider purchasing the vehicles, especially given the value loss owners would have to take on the vehicle. 

Supercars were already a rather bold purchase choice with some risk associated, however, now this is making life harder for the luxury brands. 

With that in mind, supercars are unquestionably some of the most entertaining and stunning vehicles to grace the earth. Not only are they remarkably fun, but they’re a passion project for so many. 

They absolutely deserve the attention they gain, not just through slick, sleek design, but performance as well. These are just a few reasons why supercars are so incredibly attractive to so many and especially those with a passion for the car industry. 

If you’re considering venturing into the supercar market, then our wide range of supercar experiences is a great, inexpensive way to really establish which one is for you. Our Five Supercar Blast gives users the opportunity to choose which supercars they sample as they take them round the track for a total of 3 miles each.

It’s a chance to really experience each supercar in turn, from getting to grips with the interior, to understanding where it shines performance wise. Plus on top of this, actually having the opportunity to see all the cars lined up with each other is a great way of deciphering which vehicle is your favourite, if design is a deciding factor. Here at TrackDays, we’re dedicated to providing supercar experiences to people from all walks of life. So whether that’s you planning to buy one, or just wanting a one off drive, we have it all for you. 

Our wide and extensive range of available supercars on offer make us the perfect platform to get your supercar experience underway. Please take a look at our dedicated Supercar Driving Experiences page and book to get your ultimate supercar experience with TrackDays today!

10 September 2020

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