Common First-Timer Concerns
- Will lenders treat me differently as a first-time supercar buyer? Not if your income and credit profile support the loan.
- How much deposit do I need? Typically 20–25% for a first purchase.
- Will insurance be a problem? Specialist supercar insurance is available through Hagerty, Adrian Flux, and others - expect higher premiums and possibly agreed value only.
What Lenders Assess
For personal HP, lenders assess your income (typically requiring net annual income of at least 3–4x the annual finance cost), credit history, existing liabilities, and the asset itself. For a £120,000 Porsche at 8.9% APR, the annual finance cost is approximately £28,000 - suggesting a minimum income of around £80,000–£100,000+ net.
Worked Example: First-Time Buyer, £120,000 Porsche 911 Turbo, 25% Deposit
| Parameter | Detail |
|---|---|
| Vehicle | Porsche 911 Turbo S (2023) |
| Purchase Price | £120,000 |
| Deposit (25%) | £30,000 |
| Finance Amount | £90,000 |
| Product | HP (JBR Capital) |
| Term | 48 months |
| APR | 8.9% |
| Monthly Payment | approx. £2,245 |
| Annual Finance Cost | approx. £26,940 |
| Suggested Min. Net Income | £80,000+ |