Month: February 2016
Oracle Finance Reach Finals for 3 Top Industry Awards
Oracle Finance are proud to announce their nomination in three categories for the prestigious Leasing World Awards 2015. The presige car finance specialists have been nominated for ‘Broker of the Year’, ‘Vehicles Broker of the Year’ and ‘Prestige & Classic Cars Broker of the Year’.
Oracle received their nominations for their outstanding customer service, strong financial performance and significant new investments in staff recruitment and faster, more efficient customer IT systems.
Company founder and managing director, Peter Brook said, “Reaching the finals for these three awards is a fantastic achievement for the whole team at Oracle. We are renowned for offering our clients a world class, personal service, and these nominations recognise that commitment and reflect the hard work, dedication and expertise of our staff. We will continue to innovate and develop our offering to ensure we remain at the forefront of the prestige car finance industry.”
The Leasing World Awards are one of the finance industry’s leading awards schemes, recognising outstanding achievements in customer service, staff development and business performance.
Oracle Finance, providing flexible finance for exceptional cars.
T: 0800 012 6666
Forget Investing in Property and Shares – Classic Cars Deliver a Staggering 469% Return
During the last year, the classic car industry has been the main topic of conversation in the motoring world, especially amongst investors, collectors and car enthusiasts. Classic cars have become global news, with major media organisations all over the world reporting enthusiastically on their increasing values and investment potential, as they continue to outperform stock markets, property, jewellery and just about every other tangible asset.
We hear a lot about the “classic car boom” and “classic car investments”, but do we actually understand what is driving this growing interest, and what are the advantages of such an investment?
The classic car market famously boomed in 1988, but crashed in the early ‘90s, with some prices collapsing by as much as 40%. Many commentators were sceptical when classic car values started to rise again after the millenium, but as it emerged, the circumstances are different this time.
Nowadays, cars are valued for their history and provenance, rather than purely on their condition, as was the case in the ‘90s. There is unprecedented demand for quality classic and historic cars, as their numbers diminish year on year and more new buyers enter the market. With growing interest from places like China and India, prices have soared and the market seems to be heading in only one direction.
According to the luxury investment index set by Knight Frank, classic car values have increased by 469% in the past 10 years. Over the same period, luxury London homes and the FTSE 100 have risen by 135% and 51%, respectively. Similarly, the Historic Automobile Group International (HAGI), an independent investment research organisation, reported that classic cars have been one of the best performing investments over the past decade, with the value of exceptional historic cars climbing 12% in just the last year alone. Compared to the beginning of 2009, the price of such cars has risen dramatically, by up to 163%.
The UK classic car industry, which is estimated to be worth over £6 billion, is now considered to be the most sophisticated in the world. During the last year, UK market growth has been steady, and with savings rates expected to continue at record lows for the foreseeable future, classic cars could be considered a better investment than properties.
Most importantly, unlike other traditional investments such as stocks and shares, classic cars are not liable for capital gains tax on any profit, as HMRC views cars as depreciating assets. Moreover, any car that was made before 01 January 1973, and is registered as historic is exempt of road tax and MOTs are no longer compulsory for a car built prior to 1960.
Equally important, unlike modern cars, classic cars tend to hold on to their value and their value is likely to appreciate. Therefore, by investing in a classic car, not only are you likely to get a good return on your investment, but most importantly you get the pleasure of driving something unique, something that stands out from all the computer-driven modern cars that now dominate our streets.
Another factor to consider is the social side of motoring. With a vibrant classic race scene and events such as the Silverstone Classic and Goodwood Revival, as well as numerous organised owners clubs and tours, classic cars are not only an amazing mechanical piece of history but are also now a core part of an exclusive lifestyle.
The increasing use of finance is also driving growth in this market, allowing buyers to fund and secure some of the finest cars in the world. Oracle Finance enables collectors and investors to acquire their dream car by creating competitive finance packages, tailored to each individual’s precise needs. Our specialist classic car team has over 20 years experience in the industry, and would be more than happy to assist you with any of your requirements. Whether it’s financing, refinancing or equity release you’re looking for, we always do our best to create the perfect finance solution for you.
Oracle Finance, providing flexible finance for exceptional cars.
T: 0800 012 6666
Channel 4 pay Oracle Finance a visit!
Channel 4 recently paid a visit to Oracle Finance and sister company, Lawton Brook (www.lawtonbrook.co.uk) to film a segment for an upcoming documentary.
Matthew Lymn Rose, Acting Managing Director of A. W. Lymn Funeral Services (centre), was filmed collecting a Rolls-Royce Phantom from Lawton Brook General Manager, Jeremy Saville (right).
The new car is the latest addition to A. W. Lymn’s fourteen-strong fleet of Rolls-Royce Phantoms, which the company specially convert into hearses.
The documentary is due to be broadcast on Channel 4 this September.
Oracle Finance, providing flexible finance for exceptional cars.
T: 0800 012 6666
Classic Car Prices Soar in 2015
Specialist insurer, Hagerty has reported an average 8.4% rise in classic car prices over the first 6 months of 2015.
The rise is being driven by investors, who are increasingly turning to classic cars as an alternative asset. Hagerty’s report follows a study released in March by the property firm Knight Frank which estimated a 252% rise in art prices in the last decade, surpassed only by classic car values, which rose 487% in the same period.
Unlike other investment assets, such as bonds and shares, car value rises are free from capital gains tax. Last year, a 1962 Ferrari 250 GTO set a new record when it sold for $38m (£24m) at an auction in California.
In the UK, Hagerty’s data highlights the Fiat Dino 2000 Spider as the biggest riser in 2015, up 45% from £45,000 to £65,050. The Lamborghini Countach LP400S Coupe also performed strongly, up 42% from £210,050 to £298,500.
Hagerty’s analysts said the market trend appeared to be shifting, with cheaper supercars from the seventies and eighties performing better than the top marques from earlier decades, such as Ferrari. As an example, the report highlights the price of a Mercedes-Benz 300SL Gullwing Coupe, which remains unchanged in 2015 at just over £1m.
Oracle Finance, providing flexible finance for exceptional cars.
T: 0800 012 6666
When Clarkson, Hammond and May needed a Supercar, super fast, Oracle Finance leapt into action!
The producers of the world-wide hit show, Clarkson, Hammond and May Live, recently contacted Oracle Finance in an urgent search for a Lamborghini Huracan.
The former Top Gear presenting team needed the supercar to complete the line up at their next show. Working with sister company, Lawton Brook (http://www.lawtonbrook.co.uk/), the Oracle experts leapt into action, delivering a white Lamborghini Huracan LP610-4 from stock just in the nick of time to thrill the sell-out crowd!
The former Top Gear Live show is currently touring world-wide, and will next visit Johannesburg from the 12th – 14th June, returning to London’s O2 Arena from the 27th – 29th November.
Oracle Finance is the UK’s No. 1 funder for prestige, sports and classic cars. For expert assistance with all aspects of your car finance, contact your dedicated Oracle Consultant today.
T: 0800 012 6666
Oracle Finance are proud to announce that they have now received full authorisation from the Financial Conduct Authority (FCA) to trade under its new regulatory regime.
The FCA gave the green light following a rigorous and stringent 12 month application process, making Oracle Finance one of the very first brokers in the UK to receive full authorisation.
The detail of the authorisation allows Oracle Finance to act as a credit broker, provide debt adjusting and counselling and to continue lending its own money.
For help funding your next luxury car, contact Oracle Finance on 08450 944997.
Mercedes-Benz: More Practicality for More Money
Due to arrive in September, the price of the new Mercedes-Benz C Class Estate has been revealed to be £1,200 more than the saloon with prices starting from £28,055. The new Estate offers more luxury, space and practicality than the current model, which is represented by the increase in price.
The Estate will be offered with three engines and three trim levels from its launch in September and this will be reflected in the price, with the range topping model costing £33,220. The engines will be taken from the smaller saloon and will consist of the following; a petrol 182bhp 4 cylinder C200 for £28,055, a diesel C220 BlueTEC for £30,565 and a C250 BlueTEC for £33,220. These are to be offered with either a six-speed manual or seven-speed automatic gearbox. Later on in the year, two further engine models are expected to join this line up.
The trim specifications available will be an SE, Sport and AMG line. There will be a standard kit offered across the range, with an optional four packages to upgrade to. For an additional £995, the Executive Package can be purchased which adds SatNav, heated front seats and a chrome roof rail. A level up from this is the Premium Package, which adds a Burmester sound system, panoramic roof, keyless go, ambient lighting and electric memory seats. For a further £895, the AirMatic Agility Package can be selected, which allows the Estate to self-level and be raised by an additional 25mm.
The Estate has retained its head-turning appearance; however it is 96mm longer than the current model, now measuring in at 4702mm. The wheelbase has also been increased by an additional 80mm. This, combined with the 40mm increase in the models width, has led to an extra 45mm of legroom, as well as more shoulder, elbow and headroom. The load capacity has also been improved and now offers 490 litres of storage with the seats up, or 1510 litres with them down. To improve the practicality of this storage, the rear seats are now offered with a 40/20/40 split, instead of the current 40/60. A good effort by Mercedes-Benz to offer customers more luxury, whilst improving the practicality for a just a little extra on the price tag!
Oracle Finance providing flexible finance for exceptional cars.
T: 0800 012 6666
A Yorkshire vehicle finance company has been singled out for praise in a House of Commons debate.
Oracle Finance – the UK’s number one funder of prestige vehicles – was cited as an example of a company experiencing rapid expansion and a strong performance, both throughout and emerging from the recession, by Conservative MP, Andrew Jones.
Mr Jones – whose constituency, Harrogate and Knaresborough includes the company’s head office – again championed Oracle Finance for its admirable business acumen, having written to the company previously to express his support following a run of new job creations in the area.
Oracle Finance was founded in 2006 by Peter Brook and Andy King and has grown significantly in recent years. It now employs a work force of nearly 40 and has in excess of 40,000 clients on its books.
Annually, Oracle Finance underwrites some £250 million of funding for supercars, which has seen the company secure its place as the country’s leading provider of finance to the luxury car market.
Oracle Finance Managing Director Peter Brook said: “We are very proud to have been singled out for praise by Mr Jones in the House of Commons, which is a rare honour.
We understand that our mention in Parliament came as part of a question put to the Department of Business, Innovation and Skills, about what more could be done to support businesses, who like us, are undergoing rapid expansion.
Expansions like these do throw up a number of challenges for any business and enhanced support would allow us, and others, to continue creating jobs and boosting our local economies.“
Mr Brook added: “We had a fantastic 2013 with new records set in both Q2 and Q3, and a 20 per cent rise in new business, and last November we increased our sales force by almost 50 per cent.
We are really feeling an upsurge in confidence with feedback from our clients, which is so much more positive than the last few years.
Our expanded team will help us take advantage of the growing luxury car and supercar markets, and ensure our level of customer service to both existing and prospective clients remains in line with our current high standards.“
BMW Returns to Summer
The LA Motor Show hosted the debut of the BMW 4 Series Cabriolet. The convertible is offered with a variety of engines. At £36,675, the 420 Diesel SE has a top speed of 146mph and reaches 0-62 in 8.2 seconds. Next, the 428i SE priced at £39,515, can accomplish 0-62 in 6.4 seconds and has an electrically limited top speed of 155mph. Finally, the 435i Luxury costs £44,970, and has the least efficient engine, however it has the fastest reaching 0-62 in just 5.6 seconds. The 4 Series is offered with either a 6-speed manual or 8-speed automatic gearbox and all models have the start/stop system in place. The convertible carries an extra 300kg in weight from the substantial metal folding hardtop and is 26mm longer, offering a bit more interior room. BMW have added extra noise absorption into the folding roof, which goes down in under 20 seconds, unfortunately you do have to be travelling less than 9mph in order to do this! The BMW 4 Series Cabriolet comes with five equipment levels, ranging from basic to sheer luxury and is due to go on sale next March.
Oracle Finance providing flexible finance for exceptional cars.
T: 0800 012 6666
Oracle Finance is pleased to announce that we have won Broker of the Year at the prestigious Alphera Broker Awards 2013.
Oracle Finance providing flexible finance for exceptional cars.
T: 0800 012 6666
Next to buying a home, investing in a car is the second most expensive purchase that consumers will make in their life. It’s important to get the right vehicle at the right price so research is essential.
Oracle’s top 10 tips before heading out to buy:
- Set your budget – it’s important to not only set a budget but actually stick to it! It’s also a good idea to set some extra aside for future repairs, maintenance, insurance and tax costs.
- Research – The internet is a great starting place with various advice guides widely available showing the recommended price of cars based on model, age, mileage etc
- Word of Mouth – Talk to other car owners about their experiences, particularly in terms of fuel consumption and reliability, this information can be invaluable.
- Finance – A valuable option to preserve your own capital, allowing you to pay for your car from future cash flow. It is important that you compare the total amount payable for the finance rather than just the monthly payment.
- Dealer incentives – look out for any cash incentives that dealers are offering to try and boost slow sales.
- Test drive – the test drive should last at least 20 minutes to ensure you are comfortable with it, check all the buttons on the dashboard, the electric windows and radio.
- Warranty – always check what the warranty does and doesn’t cover. If the dealer is confident in the car, a 6 month warranty should be the minimum they offer.
- Get everything in writing – This is extremely important as it can act as a checklist for any agreed or promised work.
- Know your credit score – If you know your credit score before you apply for the finance, it will help you determine whether you qualify for special deals such as 0%APR or cash back.
- Be flexible – if you can be flexible, often car manufacturers offer dealer incentives for selling certain models so you may be able to spend less money than you budgeted.
There are many pros and cons to take in to consideration when buying a prestige or performance car.
Once you’ve decided on the type of model you would like to purchase, quite often the decision of whether to buy brand new or to opt for a second hand vehicle can also come in to play. Oracle Finance is always on hand to offer impartial advice on the purchase of your next luxury car and we’ve compiled a few tips to help you on the way.
Factors to consider when buying your next car
1. Depreciation – most new cars depreciate in value immediately after being bought
2. Costs – a new car may come with higher insurance premiums whereas a used car may incur slightly higher costs for maintenance and repair
3. Warranties – a new car will have a manufacturers warranty, usually for 3 years, whereas buying a used vehicle may see the need to purchase a warranty separately if the initial 3 years has passed
4. Reliability – no car can be guaranteed to be 100% reliable but when buying used you will need to take in to account the possibility of previous problems
5. History – again, there are never any guarantees but with new at least you know it’s only you that has owned the vehicle.
Advantages of buying a new car
• Investing in a new car obviously offers the most reliability.
• A new car will have had a pre-delivery inspection by the dealer, a warranty, free or discounted servicing and no MOT to pay for in its first three years.
• There are also the benefits of the best fuel economy, lower running costs and a decent residual value after its first few years of use.
Disadvantages of buying a new car
• Purchasing a new car will inevitably be more expensive and could depreciate up to 40% in value over 3 years.
• Insurance for new cars is understandably higher than used
• Special edition and much sought after models will maintain a higher re-sale value .
Advantages of buying a used car
• Buying a well-loved and maintained vehicle second hand can often mean you get the model you want or a higher spec than you would on a new version
• Cheaper car insurance may apply and the running costs can be lower if the car is well looked after.
Disadvantages of buying a used car
• There are always risks buying a used car, especially taking in to account potential reliability and performance concerns.
• It’s also good to run a vehicle check to thoroughly ensure it has not been previously stolen, in a crash or sold by a bogus owner.
Whilst the luxury car market differs from the vehicles of a lesser value it’s always good to take time and consider what you want out of your new car. Is it performance, luxury, reliability, residual value or something else?
By opting for vehicle finance with Oracle you are able to offset some of the financial commitments over a longer period of time and in turn you can often enjoy driving a higher spec vehicle than you would if you were to purchase outright.
Contact Oracle today to discuss the variety of low rate finance deals we offer on any new or used vehicle purchased from a Uk dealership.