World cup footballers set to spend more on luxury cars this summer than ever before.
Premiership footballers appearing in the World Cup look set to splash the biggest amount of money ever on luxury cars this summer – whether they win or lose.
Magnitude Finance, which specialises in funding prestige vehicles, has 13 of the 23-man England squad as clients.
It is preparing a range of finance packages for players and their wives and girlfriends regardless of the team receiving various win bonuses, understood to be in the region of up to £215,000 per player. The most popular cars being lined up include the new 2018 Range Rover, the new Bentley Continental GT, Mercedes Benz G63 AMG, Audi R8 and Lamborghini’s eagerly anticipated SUV, the Urus.
Head of Sales at Magnitude Finance, Tim Marlow, said: “From the proposals we’re putting together, it will be the largest amount of finance provided for our footballer clientele during a summer – irrespective of how England fair in Russia.
“Many of the England squad, their wives and girlfriends and Premiership-based players representing other nations are looking to buy new cars either to mark a good tournament or a treat at the end of the season.
“The players will have a lot of time on their hands in between training and matches at the World Cup.
“Since landing in Russia, there has been a significant increase in traffic from the region to our website which tells us they are busy looking at finance options for their next car purchase.
“Our online calculator lets them configure accurate quotes for the make and model of every luxury car that’s available.
“We then provide a concierge service that tailors the quote to the individual’s circumstances and preferences with a view to getting the acceptance in place ready for when they buy the car.
“Speed is critical for fast turnaround times in order to secure cars that can be limited editions and hard to come by.
“For example, one option we’ll create will have a large deposit – the highest we’ve taken was £250,000 on a Pagani valued at £1.6 million – while others will look for an interest-only deal over a short-term of two years so they can change their car more regularly.”
Many footballers are long-term clients of Magnitude Finance who work closely with luxury dealerships such as Redline Specialist Cars, Premier Sports Solutions and Optima Cars, all of whom have strong reputations in the market looking after such high profile clients.
“We have to be ready to react and turn deals around quickly; if they want a specific car they will come home from the World Cup and go out and buy it – they’re very impulsive that way,” adds Mr Marlow.
“There’s also a lot of competition among them – they all want to have the best, most exclusive car with the rarest features.
“In late June we always see a flurry of activity as players start buying so they can turn up in a new, jaw-dropping vehicle on the first day of pre-season training and this is compounded when international tournaments take place.
“In recent years we have increasingly arranged more car finance for women than ever before and this summer is proving busier still with a lot of funding provided for players’ wives and girlfriends.”
As well as footballers, Magnitude Finance has amassed a large database of high net worth individuals including company directors, business owners, Lottery winners and more recently YouTube and reality TV stars.
They choose to fund their cars because it gives them the flexibility they crave with their finance and doesn’t tie up large amounts of capital, allowing them to make greater returns on their money elsewhere through investments.
It also allows them to change cars regularly and avoid paying into an asset that in most cases is losing its value, although quite a few vehicles are purchased for investment purposes, which Magnitude Finance also helps fund.