JamJar provides vehicles to customers who want a more flexible option other than purchasing a vehicle for cash or financing one over a 3-5 year period.
JamJar offers a solution to customers who need access to a vehicle for longer than the traditional 28-day rental which is offered by the mainstream Hire Companies.
An untapped marketplace within this sector is specifically marketing to customers who wish to purchase a vehicle on finance but are unable to due to a previous blemish on their credit record. It's an excellent option for customers who do not wish to be locked into a long-term finance contract, but want to change/upgrade their vehicle each year.
We beileve JamJar's model is unique, acquiring vehicles at trade prices through auctions and other trade sources, renting the vehicle for up to a twelve-month period then selling the vehicle via JamJars Retail arm and so negating any bad debt write off at the end of the rental contract.
Our experienced management team have a strong track record within the automotive sector.
In a very short space of time, we expect JamJar will establish itself as a major presence within the UK Car Rental market.
JamJar forecasts that it will have a rental fleet of 1082 vehicles on contract by the end of year one, 2688 by the end of year two and 4895 vehicles by the end of year three. The management team's experience of other "car purchase/finance" businesses indicate that this rate of growth is conservative and balanced.
All investments are secured by way of the Vehicles rented to customers by JamJar. The Loan To Value (LTV) is set at 80% of the "Stand In Value" (SIV) this is the purchase price of the vehicle (which is a trade price), auction, repair, warranty and GPS costs. The total SIV is less than the actual Retail Value of the vehicle.
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|Type of Bond||Secured crowdbond|
|Type of Repayment||Interest Only|
|Security Information||The crowd bond will be secured by a Chattels Mortgage over defined vehicles within the rental portfolio.|
|Location||Brightlingsea, United Kingdom|
|Pitch Launched On||16/04/2018|
|Pitch Closes On||15/06/2018|
|IFISA Eligible||YES - This Convertible Loan Note is
eligible for inclusion in the IFISA