Romans International has massively expanded its specialist finance brand – and it’s already funded more than £300m-worth of supercar purchases.
Elev8 Finance is an independent finance broker that caters for particularly wealthy individuals, and they’ve been using its services to buy super-exclusive cars such as the £3.5m Ferrari LaFerrari Aperta.
Initially established by Paul Jaconelli, owner of the award-winning Banstead-based luxury supercar dealership, purely for its own supercar buyers, he has now opened the brokerage firm’s doors to the entire market, after the current coronavirus crisis led to a flood of people wanting to refinance their collectible vehicles to release cash, extend agreements, or have a payment holiday.
As a result, he and son Tom, both of whom run Romans International, which has won and been highly commended at a number of Car Dealer Used Car Awards, have seen such a rise in demand that they’ve now funded almost 2,000 cars worth more than £300m together.
Elev8 Finance’s day-to-day operations are separate to those of Romans International to avoid potential conflicts of interest, with the business run by highly experienced finance professional Mike McCann.
He said: ‘With the uncertainty in the market and the importance of giving customers the right guidance, now feels like the right time to raise the profile of what our finance brand is striving to achieve while giving customers the right information so they can make informed decisions.
‘This also means other dealers can benefit from Romans’ relationships as well as their buying power, which can enable them to sell more profitably and more seamlessly.’
Elev8 has forged strong relationships with major banks and finance companies such as Santander Consumer Finance, Hitachi Capital Business Finance, Alphera Financial Services, Blue Motor Finance, Aldermore Asset Finance, and Metro Bank.
This means car dealers and their customers can enjoy access to providers that otherwise may have been out of reach.
Tom said: ‘We have grown a lot in a short space of time, and I believe that Elev8 can become the number-one go-to finance broker for high-net-worth individuals looking to finance their next car.’
McCann added that Elev8 Finance’s unique position of working with Romans International’s diverse customer base meant it had unique experience in supporting their wide-ranging needs.
‘Despite Elev8 being a “new” company, our background working with Romans has always been in financing prestige vehicles at the very top end of the market.
‘It’s quite a challenging experience dealing with the complex assets of high-net-worth clients and understanding the workings of a client’s balance sheets and tax affairs in order to give comfort to the banks and finance institutions who are ultimately lending the money.’
He said the vast majority of Elev8’s work came from repeat business and referrals.
‘Ultimately, the numbers don’t lie, and despite only operating for a short while we are writing a huge amount of business and getting great customer feedback.
‘We pride ourselves on being able to help customers elevate their current car to the next level and assist them on their car-buying journey, making the process as painless and seamless as possible.’
The 10 Most Expensive Cars Financed By Elev8
LaFerrari Aperta – £3.5m
Maserati MC12 – £2.75m
Ferrari Enzo – £2.25m
Bugatti Veyron Grand Sport Vitesse – £2m
Ferrari F50 – £1.75m
Pagani Huayra – £1.75m
McLaren P1 – £1.2m
Porsche 918 Spyder – £1.1m
Ferrari F40 – £1m
McLaren Senna – £900,000