by Tom Senior, Director of Specialist Car Finance
Featured in this blog:
Kick starting 2024 with a bang
Can you believe it is already July, and we are halfway through the year? Time is supposed to be constant, but it feels like it speeds up as I get older.
2024 was a highly anticipated year for us, built on the solid foundations we established and the strategic changes we made to enhance the customer experience. I am delighted to report a record half-year performance:
-January significantly surpassed our previous achievements in that same month over the last few years.
-February and March showcased a great performance.
-April was a standout month, reaching new heights with impressive growth.
-May maintained strong growth.
-June saw us draw our largest ever loan of £4 million.
The £4 million deal was a first for us in many ways, with several complexities resolved as a team. If you are looking for a large loan, please get in touch to discuss.
We will launch further changes in the second half of 2024 to make us a truly competitive force in the specialist car finance market—I can’t wait.
Driving through events season
This half has seen the beginning of the events season, and I have had the pleasure of attending several with clients and professional contacts.
The season started with the Goodwood Members' Meeting, now in its 81st year. One of my favourite events, it always delivers. Despite the chilly weather, the last race into the sunset was as special as ever.
I was lucky to attend the Monaco Historic Festival in early May. Similar to the Members' Meeting but bathed in sunshine, typical of the south of France. It was a great experience, and I met many clients and contacts. I highly recommend this biennial event, with the next one in 2026—a special year for me!
The Savile Row Concours in late May is fast becoming a calendar fixture. It’s totally free, though we were fortunate to be guests of the organisers, and I highly recommend the VIP experience. Some great cars were on display. However, it has yet to experience a typical British summer day, which could change the atmosphere a bit.
This was swiftly followed by the London Concours at the HAC. This fabulous event hosted an auction provided by Iconic Auctions. It is a high-quality event with some very special cars.
Why do we attend these events? Attendance is important for several reasons. It ensures that my team and I keep abreast of the latest market knowledge, provides a great opportunity to meet existing customers and contacts, meet new ones, and, perhaps most importantly, demonstrates that we are truly part of the community in which we operate. For me, it ensures we can add a “personality” to our offering.
Shifting gears with new milestones
With such a busy first half, we have had a number of firsts. I am delighted that we have funded several special cars, including our first:
• Ferrari Purosanque
• Rolls Royce Spectre
• Genuine and Original AC Cobra
• Aston Martin DB12
• Ferrari SP1 Monza
A bright and promising road ahead
The future is bright. While we have had a busy and successful first half, we are not resting on our laurels. We have several initiatives in the pipeline that will further improve the customer experience. The bank has committed significant investment into our wider Asset Finance business, including our specialist car business. I expect to see several positive changes over the coming months that will further enhance our offering.
The macro-outlook might appear uncertain, but there is little we can do to affect this. We as a team will endeavour to be constant amidst all the change. If you ever just want to talk cars, then please drop myself or Mitch a line.
I hope you manage to have a break over the summer. I am looking forward to a short break in Cornwall at the end of the month, returning refreshed and ready for whatever August brings.