Noble Finance press release
Discussion
NOBLE LAUNCHES FINANCE PACKAGE
Noble Finance is now being offered to all buyers of new Nobles, with a highly competitive typical APR rate of just 9.0 per cent (see ad, attached).
This means that, for a deposit of £25,000 and 36 monthly payments of £370.00 per month you can own a generously specified Noble M400 and be left with a single balloon payment of £29, 897 to make at the end of the term.
The scheme – backed by Capital Bank – indicates the growing strength of residual values on used Nobles, with the balloon payment representing 50 per cent of the M400’s value after three years.
Stuart Jones, Noble’s Marketing Director said: “Over the last six months values of our older cars have strengthened considerably, with demand out-stripping supply in many cases. In fact, some of our dealers are having to advertise for used cars to satisfy the market. Capital Bank has introduced Noble Finance as a direct result of this strong used-car price performance.”
Noble Finance is now being offered to all buyers of new Nobles, with a highly competitive typical APR rate of just 9.0 per cent (see ad, attached).
This means that, for a deposit of £25,000 and 36 monthly payments of £370.00 per month you can own a generously specified Noble M400 and be left with a single balloon payment of £29, 897 to make at the end of the term.
The scheme – backed by Capital Bank – indicates the growing strength of residual values on used Nobles, with the balloon payment representing 50 per cent of the M400’s value after three years.
Stuart Jones, Noble’s Marketing Director said: “Over the last six months values of our older cars have strengthened considerably, with demand out-stripping supply in many cases. In fact, some of our dealers are having to advertise for used cars to satisfy the market. Capital Bank has introduced Noble Finance as a direct result of this strong used-car price performance.”
i have to disagree with nobles second hand values holding up. just sold my noble m12, just over 2 years old. the dealer i bought it off would not even bid on it and the main reason i changed cars and did not have a new noble was the kicking i was tacking on it,paid 49 grand the trade bid and what the car went for was 26 grand, one owner, 14 thousnad miles, a loss of 23 thousand. no matter how much i love the car i cannot afford to be dropping that sort of money every couple of years. even my lotus cars were not this bad! if any one has bought car number 92 have fun with it, i did!
I couldn't agree more. My finance deal has a 54% residual. Advertising a supercar privately is a non-starter. I know I won't get 54& from a trade-in so back to the finance house it will go. And then on to a general motor auction where it will be sold for a pitance which will hardly support their strong residuals.
8 months after I bought the car I tried to sell it and was offered 40% !! by a dealer who said nobody wanted a second hand Noble - but he has subsequently left the network.
I tried to put together a package last year but unless Noble were prepared to own the vehicles and lease them back, to support the residuals at 60%, nobody wanted to back it. That's the rate must "pukka" manufacturers settle at. I couldn't see Lee accepting that as it woudn't give him immediate cashflow so I didn't present it to them.
If Noble have been approached by Capital good luck to them. But their collections division are complete uncompromising bastards who just might get Noble an unfavourable appearance on Watchdog one day. I can't see them seperating the underwriting and treatment of the owner of a supercar from a Skoda. They are not a finance house I would have immediately thought of getting involved with.
8 months after I bought the car I tried to sell it and was offered 40% !! by a dealer who said nobody wanted a second hand Noble - but he has subsequently left the network.
I tried to put together a package last year but unless Noble were prepared to own the vehicles and lease them back, to support the residuals at 60%, nobody wanted to back it. That's the rate must "pukka" manufacturers settle at. I couldn't see Lee accepting that as it woudn't give him immediate cashflow so I didn't present it to them.
If Noble have been approached by Capital good luck to them. But their collections division are complete uncompromising bastards who just might get Noble an unfavourable appearance on Watchdog one day. I can't see them seperating the underwriting and treatment of the owner of a supercar from a Skoda. They are not a finance house I would have immediately thought of getting involved with.
Its the same for porsche, its the same for jags, I'm trying to sell my XKR at the moment.
Remember there is also a difference between "sales speak" and reality. Sales persons have optimism gain turned up 100+%, of course they will want to paint a rosy picture.
Cars, in general are becoming a disposable comodity at the lower end of the market and that inevitably influences the rest of the secondhand chain above it. Differences exist between first sales prices and secondhand prices and are bouyed up by the demand being gretaer than supply for the first sales.
Buy any expensive car new and you need to factor in 50% loss in the first 3 years.
Regards
Paul C
Remember there is also a difference between "sales speak" and reality. Sales persons have optimism gain turned up 100+%, of course they will want to paint a rosy picture.
Cars, in general are becoming a disposable comodity at the lower end of the market and that inevitably influences the rest of the secondhand chain above it. Differences exist between first sales prices and secondhand prices and are bouyed up by the demand being gretaer than supply for the first sales.
Buy any expensive car new and you need to factor in 50% loss in the first 3 years.
Regards
Paul C
paulcundy said:
Buy any expensive car new and you need to factor in 50% loss in the first 3 years.
Yup. Understanding this at the time of purchase means you'll be (slightly) less grumpy when you come to sell it.
ps. I'm going to hold onto the XKR for a bit as my wife still thinks it's gorgeous. It's just a pity I tend to fall asleep in it these days unless the top's down.
soulman said:
i have to disagree with nobles second hand values holding up. just sold my noble m12, just over 2 years old. the dealer i bought it off would not even bid on it and the main reason i changed cars and did not have a new noble was the kicking i was tacking on it,paid 49 grand the trade bid and what the car went for was 26 grand, one owner, 14 thousnad miles, a loss of 23 thousand. no matter how much i love the car i cannot afford to be dropping that sort of money every couple of years. even my lotus cars were not this bad! if any one has bought car number 92 have fun with it, i did!
I could not agree more with you soulman. My 2004 3R that I had for 6 months from new was a real headache to get rid of.
OK and before everyone bites you should not try to sell a 6 month old car etc etc.
My experience was that it was a difficult and expensive experience if you wanted to leave the marque.
Great Car Though.
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