Pawnbroker extends service to cover luxury cars

PAWNBROKER Suttons and Robertsons is expanding its services to offer loans to customers able to provide luxury cars as security.

The company, which has an operation in Birmingham, said the loan limit would be set after vehicles – typically high-value cars with a trade value of at least £30,000 – had undergone an expert assessment.

All the vehicles will be stored by a specialist partner company of Suttons and Robertsons in a secure, climate-controlled environment. They will be fully insured from the moment they are collected and can be delivered back to a location of the customer’s choice.

Suttons and Robertsons’ Phil Diaper said: “There are hundreds of people out there needing extra short-term cash for all sorts of reasons – from paying school fees on time to business investment plans.

“Often the banks are either unable to help or customers prefer the straightforward nature of our loans. The revival in pawnbroking is really moving up a gear and, increasingly, classic cars are among the items people are using as collateral to unlock cash tied up in valuable assets.

“Our specialists will consider the make, model, age and condition as well as recent sales of similar vehicles to ensure customers are given the best value and the highest possible loan limit – usually within three days of the customer letting us see the vehicle.”

Suttons and Robertsons, which began trading in 1770, offers loans up to £1m secured against customer’s valuables from its four London stores  as well as branches in St Albans, Birmingham, Manchester and Liverpool.