It all began when a friend contacted us who had recently setup and supercar retail sales operation. He was frustrated that almost all of the stock was SOR and owners often had unreasonable expectations both in terms of achievable return and timescales.

Much of the startup capital had gone into creating suitable premises, marketing and other costs. This meant that they simply didn’t have the funds to source their own stock. It also meant that in the event that a customer wanted to part exchange a vehicle that would have been ideal for retailing, they still had no option than dispose of the vehicle in the trade, again because they didn’t have the required funds to retain it.

We worked with them to underwrite the part exchange vehicles and funded them so that the dealer could retain and retail them. Then we also helped by offering prestige, fast moving stock that allowed them to make maximum use of the premises and marketing efforts. Our connections have also helped source both cars and retail customers from other walks of life, referring them back to the dealer.

Over time, we will make us largely redundant from a financing point of view because the dealer will generate enough capital reserves, but our relationship will continue from a stock provision point of view.

The model has been so successful that we decided to create JMRG and offer the same suite of services to the wider market.