HOW I PAY FOR MY 10 SUPERCARS *CAR FINANCE EXPLAINED*

[Music]

uh

[Music]

[Music]

hello hello and welcome back to cg tv

more specifically ladies and gentlemen

welcome back to a rooftop in

london now today is an exciting video

but it's also an informative video for

once

you may well learn something from this

video a very rare occasion on this

channel that i might impart some useful

information

i'm here you may well have seen not only

with this lovely defender charles and

dean we'll get on to why that is here

i'm also here with three of my cars

unfortunately i haven't managed to get

all my cars

onto the top of a tesco car park but i

have got three of them up here so we're

gonna go around them i'm just gonna show

you

so for the first time ever i've actually

got these three cars together and this

is probably the most amount of my

collection

i've ever actually got together in one

place at one time so we'll start with

the f12

many of you being there badgering me on

social media thinking that i've sold

this car

i haven't it's still with me still in my

possession and i still love it so

the f12 is alive and kicking probably

one of my favorite cars of all time the

turbo s is here with it

again probably do you know what if i had

to choose between keeping one of these

two cars

it would be a very very tough bet

between the two of these

hmm i think it'd probably still be f12

just because of the noise and we've got

the amg gt here as well now this isn't a

vanity project

i'm not just bringing these up here to

show off uh and show you all

how many cars i've got and i can shove

them all in car park at the same time

today

i'm going to be talking finance the f

word not that f word

but a word that is banded around a lot

all over social media all over kind of

internet forums

and just in general in the supercar

world so i'm going to dispel some myths

i'm going to go through fine i'm going

to go through how i fund all my cars

uh particularly with the recent edition

of the carrera gt and something else

coming very soon

potentially which uh i'm going to throw

on the chat that i'm about to put into

this video so i'm going to get mike

from charles and dean into the video i'm

going to throw him in to the passenger

seat i think of the f12 we'll go for a

hoon in the f12

i'm going to talk all things money

finance uh how it all works and

dispel some myths as well which may well

save you some money and some heartache

when you come to get out of your car

at the other end because that is an

element of finance that no one really

talks about they're all kind of

obsessed with monthlies and kind of

balloons and interest rates but actually

really uh you really need to be looking

at how you get out of the car so we're

going to go through all of this

and i'm going to try and save you some

money and be quite helpful so without

further ado

let's go with the video let's get a fire

up then

not so dramatic already warm right then

we are in the car

with mike that i have just mentioned say

hello mike hi

is this your first time on youtube it is

yeah first time

how are you feeling about it yeah yeah

good anxious stressed

nervous no i mean panic attacks how are

you feeling i'm in capable hands with

you so

i'm sure you are not in capable hands

you're with me in an f12 it couldn't be

any more incapable

so mike is the gentleman responsible

for funding my cars he is actually my

point of contact at charles and dean

and he's the guy on the ground uh

dealing with my

basically do you like dealing with me

yeah it's good you're also a very good

liar well done yeah

um so what i really like about charlie

is the fact that

i can contact my and this this is

probably something you don't like about

charleston team i can contact mike

um any time of the day within reason

yeah and if you can reply he will and

it's it's really cool often

dealing with people you know you get

sort of hours between emails and it's

just absolute hell uh

and yeah mike is a car guy are you not i

am huge petrol head yeah

yeah he's in his car so he knows the

market

he knows the car market he knows cars he

knows funding and it's just a nice kind

of uh as i say

earlier a holistic kind of um approach

at chelsea which is that

cullen is rich could i find one of them

would you be able to get me in one of

them as well yeah

fine you won't tell me that no don't

tell me that so so so so

so we'll go we'll go to the basics then

so we did the crowd gt

uh i hope you don't mind me saying that

that was not an easy deal

no uh i found it hard and i'm just at

the end i just sent documents across so

that was a really really difficult deal

to to fund and i think you've probably

only really just got over it

yeah i mean it was uh it was there was

lots that went into it

with not only the asset the car yeah

that we had to

value assess make sure that it was um

you know not not only you know right for

you but also you know the

many different bits that we had to put

together and then also obviously your

income as well that we had to um you

know depict and present to the

underwriters which was uh

yeah it's a challenge but we got there

you put that very

uh politically correctly and basically

there's an absolute fact every single

element of that deal was a complete

nightmare

and through to my income streams um

through to the asset itself

through to even the proof of title on

the asset because a lot of these high

high value items are held by companies

or sometimes they're held by sbvs um if

you know what that is if you don't then

don't worry about it um

but it's a complete faff basically and

then sometimes uh

not with this car um but sometimes you

get cars that are

uh being sold as a result of kind of

divorce settlements these kind of top

top end cards

and these things sometimes are hidden

from women and there is just hell

so yeah those those sorts of assets the

real kind of specialist stuff i wouldn't

trust anyone else with it and

god forbid the next time i come to do a

high value call like that

um unfortunately it's going to land on

your desk so

look for a new job when you see it when

you see that come through but no plans

as yet to get anything stupid stupid i

think the next time around it might be

an f40

um so you've been getting

yeah so then i want a myth bust i want

to kind of dispel some myths surrounding

finance because i realize there's a lot

of people doing videos about finance

and there's a lot of there's a lot of

rubbish out there not just those videos

but just in general there's a lot of

rubbish out there even

um friends of mine people that i know

people in the kind of super

supercar world that finance cars i hear

a lot of this is the main thing that i

hear and you you can get onto kind of

the main kind of stuff that you get in

your ear all day

the main thing i get when people say you

know how much your cars

people or i want to fund a car you know

how much is it a month do you get that

as well people kind of ringing up and

saying i want this how much is it a

month

and it's not that simple and you just

replying

uh 500 quid a month and then saying okay

great sign me up

you're not doing them the best deal

you're not looking after them you're not

adhering to your duty of care to them

and necessarily getting them the best

deal just by getting them the cheapest

monthly it looks better on paper having

a cheaper monthly but

that's not also often the best practice

i

often don't it's not that i don't care

what the monthly is but

i look at it as a whole package you know

what's going to happen when i come out

of the car

um the deposit in the rate the term

all things like that not just how much

it is a month so i would always

take a much higher monthly um meaning

i'm paying off more than the capital

than say like an interest-only deal

which you're obviously just um dribbling

off the interest and you owe the same at

the end of the agreement as you do at

the start i mean what's the most common

thing you get kind of

the main thing you kind of have to take

people back a few steps when they kind

of ring you and ask about finance yeah

yeah so mostly we find that a lot of

people are very as you mentioned monthly

driven

so yeah and a lot of people going with a

budget in mind

now he's understandable so he said i get

that but

sorry no so a lot of people will come

across and they'll look

for you know they'll say they've got a

certain monthly budget in mind and with

that monthly budget they might find that

actually

it does allow them to exit when they

need to so when we have a new inquiry

we'll work with that individual

to look at not only the the start of the

agreement to make sure they're happy

with the deposit

happy with the monthly repayments um but

also we tend to go into quite a bit of

detail about how to exit

so they might say okay i want to exit in

two years time so we'll ensure that

after two years they're not upside down

where they can't exit without putting

enough money up front

and there's a lot of that about now

there's some lenders that

have been practicing and i've seen it

firsthand with friends of mine

um i'm going to follow my mood the mood

is behind me no go ahead mate because i

don't know where we're going

go on mate here we go good pace guys

following the moves never going to work

uh so we've got my mood in my mg gt up

ahead and um

tom from charleston dean driving around

at my terrace do we have any clues where

he is

no idea running up some speed tickets

somewhere

um so then that is very very important

and then there are a lot

of and these are people i've worked with

in the past and i'm not i'm not actually

slagging anyone off it's just common

practice

just wedging people into cars getting

them in getting whatever it is the

customer wants be it cheap monthlies

um or you know a really short term for

no reason or a really long term for some

reason whatever whatever looks best on

paper superficially

just wedging them in getting the deal

done and having no regard for their

long-term financial security how they're

going to get out of that deal

uh and also a longer-term business

relationship because the end of the day

if you

if you stiff someone on a car yeah two

years down the line they're not funding

with you again no

no so i've seen a lot of that and it's

kind of

yeah it's not nice to see sometimes so a

lot of people are upside down

yeah we want to make sure that if you

the individual wants to exit and swap

and

they might be buying a car as a bit of a

bridging gap before they buy their next

car

so we want to set it up so when they get

to that point where that car that they

really want comes available that they

can exit when they want to

and then of course then we we hope that

those customers will then keep coming

back to us

so what are the factors then kind of

that improves someone's chances of

getting credit

um other than the right car of course so

something like the carrera gt i remember

when we when we were doing it you

actually compiled uh almost kind of a

report on on

the latest ones that had sold where the

market trends were going

um things like that that all goes into

you putting proposition forward it's not

just a case of

you forwarding emails with bank

statements it's not that's all

that's kind of a common misconception as

well brokers aren't just there

just to forward info and just stick it

into a zip file that's not what it's

about at all so

i was actually amazed when i saw that

because that up until then that's all i

thought

um you know finance brokers did so when

you when you showed me all that stuff i

was like

goodness man yeah what a lot of people

think is a lot of it's automatic

so a lot of people think you just put in

details and it clicks and goes what we

tend to do and

what makes brokers slightly different

and what our job is slightly different

is um

we'll write a storyboard um and it could

be you know several pages long

where we build a picture about the the

client their employment

and then also um we'll build a um an

image you know

to the underwriter of the vehicle as

well so we'll add

um history of it we'll add um

potentially you know links of other

vehicles where

they've sold for certain prices yeah and

we built a big old document up to put

into the um

to the underwriter i was amazed by that

i didn't realize any of that going on

and

that's the first time i'd seen it

because you know you you do sometimes

get caught finance

in car dealerships where they just it's

a computer says no kind of thing

it's just name address blah blah blah

and the other thing as well i really

want to up

getting my mortgage recently um my

credit score

is now it's not bad it's now fair

i've never missed a b on any payment as

long as i've lived no ccjs no

no bankruptcies nothing like literally

there's no adverse on there whatsoever

but even having your credit uh report

searched your your name

searched will bring your credit rating

down so

i wouldn't if you want to shop around

and kind of you know get different

quotes and whatever

just be very careful that people aren't

putting searches against your name

because

it will just drag your rating down it

doesn't matter what the result is

it will just drag your rating down as

well that's one thing i never knew so i

was shocked the other day when i came to

get my mortgage now like

your credit score's fair fair's just

like a

it's almost insulting something yeah

it's all right kind of my lending money

might not

he knows something we try and do as well

is if there is any reason

sorry um if there's any reason why we

have to search another lender

so if yeah this one doesn't work and we

have to go elsewhere

um that'll always be a conversation

we'll have with the individual anyway

before we do anything like that yeah i

remember you speaking to me and say look

i'm going to do a search at this point

or we won't do searches until this point

you're very very clear about that which

is which is really cool very considerate

because you can ruin someone's life

credit rating these days

you know it's life and death it's

important yeah especially for mortgages

for buying

cars and um the the score's important to

uh

and your credit profile in general is

important to keep it um protected and

make sure there's not too many searches

going on

absolutely and the elephant in the room

obviously i've worked with other finance

brokers in the past and some of them

made uh made an appearance on my social

media and a lot of people have

asked me you know why don't you work

with various people or

whoever i'm not going to name names um

but the fact of the matter is i

just i tried with the carrera gt

and the fact of the matter is charles

and dean absolutely nailed it they

nailed the deal

um i did shop around on that um

i kind of spread it out and i shopped

around we had no existing business

relationship before that

i didn't know you guys at all i came to

them as a cold customer

and hey i was very impressed

and b they the the deal that got put

together and what got achieved

the length on that car nobody got near

it so

um yeah the proof's in the pudding with

that and i i don't think i'd ever look

back so

uh hats off i caused mike many sleepless

nights that was not an easy car to find

i mean i cannot stress that enough i

can't go into it but

it was just a complete pig and we were

kind of going into um

kind of coveted times as well yeah

everyone was getting squeaky bums

it was all getting a little bit

stressful so we're gonna go down this

way we're gonna

park up now we're gonna do some some

concepts for charles and dean's

social media but it goes without saying

if you want any

um finance finance advice

anything like that do give these guys a

shout um ask

mike if you want they allowed to do that

yeah you can ask me yeah if anyone wants

to speak to you probably right now by

the time this video goes on stress of

dealing with me for the night

um but yeah do give them a shout and as

i say they'll be on hand not just to

kind of wedge you into a car but also

advise you if you're looking at like two

or three particular cars

they can actually kind of um run some

numbers and see what comes out best

because it's very asset dependent

some cars are cheaper to fund than other

ones um some of them are residually very

sound

so porsches tend to be good news the

finance on them tend to be quite good

um i mean i can't resist having a dig

but if you wanted to fund a mclaren

mike will probably just hang up now i'm

joking away um but

the kind of depreciation all that kind

of stuff is taken into account and

desirability

uh the amount on the market all that

kind of stuff spec um so

yes i think that's it any other business

oh everyone wants to know

how much will my cars cost a month so um

current gt i've touched on that in

another video that's four thousand

something a month isn't it

yeah four grand a month lovely stuff um

this is 2200 a month or thereabouts i

think uh the pista

is was uh 3300 uh

mggt there's an undisclosed sum a month

uh range rate is about 700 quid

what else have i got turbo s two and a

half grand

um yeah i can't remember the others

it's too many losing track the older

ones they all sort of 300 quid 400 quid

defender

912 996 and we'll

turn it off before the residents of this

uh snooty muse tell us to go away

and final thing you do business finance

as well

um so particularly if your business is

struggling at the moment you can

actually repackage

any liabilities on your business

and kind of repackage that into

something that you can know tackle in 12

months time for example if you're having

kind of cash flow issues or whatever

um you do you're kind of you assist with

all the covered yep

schemes yeah it's all that good stuff uh

and also you know just a typical uh

asset financial if you want a new

tractor or you want a machinery or a

warehouse or whatever whatever you guys

do that as well yeah i think

people are often surprised that we don't

just do supercars we'll do anything from

jcb's to yeah you know but that shows

you understand lending

you understand lending um so that is

that is that and a lot of the guys you

deal with as well they're not just you

know

paye they're kind of business owners

like me who don't necessarily have just

you know a pay slip at the end of the

month to say

this is it times it by 12 that's why i

earn it i have these companies i draw

xyz blah blah blah

dividends all the nonsense so um yeah

you're very well versed to navigate all

of that any other business

no i think you covered everything good

hopefully you found this useful

being sensible on the channel for a

change um

as much as many of you think i run

around chatting chaos and that's what i

do

there is you have to have an

understanding of this stuff uh i mean i

could probably get a job in a finance

brokerage now

bloody lending i've got involved in

jesus

three mortgages about 20 supercars on

finance

um i reckon you could take my job

do you know what i hate people so i

couldn't i couldn't do it

i could do it i'd be fine within a week

how i speak to people anyway

i think that's it thank you very much i

appreciate your time um

yeah as i say give like a shout uh and

normal nonsense will resume on my

channel very very soon and do stay tuned

because i

am going to see a car tomorrow on the

other side of the country

and i told you about this yesterday you

did it absolutely

and i'm hoping it appears on the channel

very soon it is iconic it is iconic

and it is it's going to be good ah it's

unbelievable so hopefully hopefully

hopefully we can get that done

by my midst mortgage so i have to trade

very carefully

anywho chow for now any funny words nope

[Music]

good

[Music]

[Applause]

you

[Music]