Bentley refinance
Release capital against a Bentley you already own outright.
- If it is worth less
- Secured on the car.
- Own it at the end
- Yes, you keep it throughout
- Monthly cost
- Depends on the advance
- Available to
- Companies and individuals
Where a Bentley is owned outright, a lender can advance against it and take security over the car. You keep it, you drive it exactly as before, and the capital is released to you or into the business. Equity release is the plainest description; refinance is what the industry calls it.
It is used for working capital, for the deposit on the next car, to clear a more expensive agreement, or to take money out of an asset that has been sitting still. It is the one entry on this list that does not begin with buying a car.
The arithmetic is the same as everything else. An advance of £80,000 over 48 months at an indicative nominal rate of 8.9 per cent produces monthly payments of £1,987. An advance of £150,000 on the same terms costs £3,726. There is no minimum advance, and what is advanced is set against what the car is worth today rather than what it cost.
Getting the valuation right before you ask
This is the entire negotiation. A Bentley with a documented history, the original specification, a complete service record and a known ownership chain values higher than the same car without any of it, and the gap is usually larger than any rate difference you could negotiate. Bring the paperwork to the first conversation rather than the third. On a refinance, negotiate the valuation rather than the rate.
Refinancing a final payment
The commonest refinance we arrange is not equity release at all. It is a final payment falling due at the end of a lease purchase, where the owner wants to keep the car and would rather not write a cheque for £90,000. Refinancing it across a new term turns one large payment into a fresh run of monthly payments, and it is ordinary rather than a sign that anything has gone wrong. Start it two or three months before the agreement ends; left to the final fortnight it becomes a rush, and a rushed application is a more expensive one.
Where it earns its place on an older car
On a Turbo R, a Continental T or a Brooklands the owner is often holding an appreciating asset and simply wants to use some of the value inside it without a sale. No manufacturer scheme will do this, and most high street credit will not touch it, because the security is a car rather than a building. Specialist lenders will, priced against a considered valuation, and the car stays in your garage and on your insurance throughout.
Tell us about the car
We come back with which agreements the car supports and what each one is likely to cost. If none of them work, that is the answer you get.