Fleet Expansion Financed Ahead of Insurance Renewal for Luxury Car Hire Business
Where it left the business
Funds released within 3 weeks, allowing the vehicle to be in place ahead of the insurance renewal and letting the business immediately begin serving the segment of clients it had previously been unable to accommodate.
Supporting facts
The ambition
A London-based luxury car hire business had fleet utilisation capped not by demand but by restrictive insurance terms, turning away enquiries while running fully booked. Having previously approached a lender directly and been declined, the business needed a broker who could present its case properly and secure funding to add a mid-tier vehicle ahead of its insurance renewal, capturing the previously unmet demand from its established client base.
How the finance was structured
Sorbus took the same lender that had declined the client directly and secured acceptance for a significantly larger facility, sourcing asset finance for a Mercedes-Benz GLE Coupe and helping the client build credit history under its own name during its first year of independent trading.
What it made possible
Funds released within 3 weeks, allowing the vehicle to be in place ahead of the insurance renewal and letting the business immediately begin serving the segment of clients it had previously been unable to accommodate.
Client details are anonymised. Figures are the facility terms published for this case; lenders make their own credit decisions and every case is assessed individually.
Planning something similar?
Start with a conversation with a Sorbus broker. They can talk through your plans; they are not necessarily the broker who arranged this case.
