Who are the top buyers of Supercars?
Ever since Sky got involved with the Premiership and Footballer’s incomes rose beyond comprehension, professional footballers have been the biggest buyers of supercars. But not any more.
In fact, the biggest buyers of supercars in the UK today are actually those London-based individuals with overseas wealth we hear so much about; the ‘Non-Dom’ set and others whose wealth doesn’t live in the UK.
This interesting morsel comes from Magnitude Finance whose job it is to finance cars like this being bought by individuals whose Experian file is probably empty.
The same problem can occur with others on the Top Ten Supercar buyers list (below), like Footballers, Actors and Musicians whose wealth is quickly acquired or difficult to define with traditional methods. In fact, on the top ten list, you need to get down to number eight before you’ll find what your mum would call a ‘Proper Job’.
But why would such wealthy individuals want to finance a car purchase in the first place?
It’s simple really; it’s because they don’t want to tie up cash in a depreciating asset, and even if they did there could be tax implications in bringing money to the UK to fund a purchase. So financing is the best route to go.
Which is very good news for companies like Magnitude, who should probably get all their marketing literature emblazoned with oil baron Paul Getty’s mantra on the subject – “If it appreciates, buy it. If it depreciates, lease it.”
Not that it’s a decision most of us have to make – leasing for mere mortals is usually the only option.
Top Ten Supercar Buyers
1. London-based foreign wealth
2. Footballers
3. Property tycoons
4. IT and communications entrepreneurs
5. City financiers
6. Film and television stars
7. Musicians
8. Professionals [solicitors and accountants)
9. Company directors
10. Lottery winners
Note: Magnitude are a CUK advertiser
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