J.P. Morgan Private Bank today launched a new lending solution, enabling collectors to borrow against their collections of classic, rare, or custom-designed automobiles which are held in select jurisdictions in Europe.
“At J.P. Morgan Private Bank, we understand that collecting automobiles is driven by both passion and investment,” says Steven Hawkins, Head of Specialty Lending for J.P. Morgan International Private Bank. “Our financing solutions help clients unlock liquidity from their collections, allowing them to pursue what inspires them while meeting their financial goals.”
“The region’s classic car history is a blend of tradition and innovation, inspiring some of the world’s most celebrated private collections,” adds Folarin Oyeleye, Head of Europe, Middle East and Africa Lending Solutions. “Classic and rare automobiles have become a distinctive asset class, offering collectors an opportunity to preserve wealth and diversify their portfolios.”
J.P. Morgan Private Bank’s automobile collection financing is available to qualified collectors with diversified portfolios, offering tailored credit facilities secured by investment-quality vehicles, subject to appraisal, insurance, and documentation requirements to ensure both flexibility and protection for clients and their collections.
While clients across Europe, the Middle East, and Africa can access this service, automobile collections physically located in England and Wales, Italy, Germany, Switzerland, France and Spain are eligible for financing.
