Product: Something slightly new…

For the wealthy South African wanting to invest in a car, yacht, boat, plane, helicopter or any other appreciable asset, Absa Private Bank has a new finance solution that provides an opportunity for high net worth individuals to invest in lifestyle assets

A deposit of 25% is required and a unique selling point is that the client pays only the interest portion monthly over 36 months. The balance of the loan is paid as a lump sum at the end of the loan period.

“It’s a financing structure that enables clients to benefit from potential asset appreciation,” says Wilf Robinson, managing executive Absa Private Bank. 

This is how it works:  You buy an exotic car today, say a limited edition Lamborghini at R2m. 

In 18 months, at an opportune time, you can sell it (with no early settlement penalty fee charge) and make a profit, turning your pleasure into good business without having to make a huge capital outlay for it.

The product is designed to improve your overall cash flow and can result in surplus cash for the purchase of additional lifestyle assets.

“The package has been designed to offer features and benefits which are not matched by other finance options,” says Robinson.