I guess even the some of well heeled are strapped for cash. Surely the pomp of being able to buy a Rolls-Royce is the theatrics of handing the dealer a Rimowa briefcase stuffed with crisp bank notes. The RR offer is a combination of a $10,000 special buyers support and 0.99% financing. Maybe RR realizes that its customers are probably punting bitcoin so need the extra leverage a 0.99% loan provides?
In the old days as an industrials analyst, I used to cover a stock called Ferretti which made ridiculously large motor yachts where the average price was $15 million +. When Asking the company how the tech-wreck internet bubble collapse would impact sales they responded “our customers do not experience recessions”. One wonders if RR are requiring discounted financing to shift product that costs as much as a house that perhaps their customers “do experience recessions”
Is this sign of the top? Normally Japanese banks are more risk averse than a politician speaking after a scandal has leaked. So what is the connection of Rolls-Royce using the foyer of the HQ of one of Japan’s megabanks (SMBC)? To promote high net worth banking customers to take out negative interest car loans? To give a luxury element to their brand? Do we need to remind ourselves the last time Japanese corporates shunned conservative values and splashed out on Van Gogh and Monet artworks? It was before the bubble collapsed.
At least the expensive artworks can be theoretically smuggled out of the building in style! We shouldn’t worry about security either as the SMBC foyer has robot security. They have a “game function” on the touch panels meaning that would be robbers need only distract the robots with video game junky children.