{"id":6825,"date":"2024-02-22T12:02:44","date_gmt":"2024-02-22T12:02:44","guid":{"rendered":"https:\/\/getincome.com\/blog\/?p=6825"},"modified":"2024-02-23T07:41:57","modified_gmt":"2024-02-23T07:41:57","slug":"meet-current-auto","status":"publish","type":"post","link":"https:\/\/getincome.com\/blog\/meet-current-auto\/","title":{"rendered":"Meet Current Auto!"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6825\" class=\"elementor elementor-6825\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-39763e4 e-flex e-con-boxed e-con e-parent\" data-id=\"39763e4\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-35afd32 elementor-widget elementor-widget-text-editor\" data-id=\"35afd32\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Income is thrilled to introduce our latest Loan Originator partnership with <strong>Current Auto<\/strong>! Established in 2020 and based in Latvia, Current Auto specialises in pre-owned vehicle rent-to-buy options. Current Auto empowers customers with flexible and swift pathways to car ownership, catering specifically to those seeking used vehicles.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since 2020, Current Auto has originated rental agreements worth of \u20ac6.4 million and currently has a portfolio of \u20ac3.3 million. The company predicts a 25% year-over-year growth in income in 2024 and an additional 45% increase in 2025, which will contribute significantly to its overall profitability.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company expects a 20% improvement in vehicle sales due to the quality of acquired vehicles, following their substantial improvements in the quality control of acquired vehicles in 2023. As a result, Current Auto anticipates achieving a net profit of&nbsp; \u20ac280,000 in 2025.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To start the partnership, Current Auto offers <\/span><span style=\"font-weight: 400;\">car rental agreements<\/span><span style=\"font-weight: 400;\"> to investors on the Income platform with yields payable of <\/span><b>up to 10% p.a<\/b><span style=\"font-weight: 400;\">. All the listed<\/span><span style=\"font-weight: 400;\"> rental agreements<\/span><span style=\"font-weight: 400;\"> are covered with a <\/span><b>buyback obligation and a Cashflow Buffer<\/b><span style=\"font-weight: 400;\">. <\/span><b>Junior Share for Current\u2019s <\/b><b>rental agreements<\/b><b> is 26%<\/b><span style=\"font-weight: 400;\">. Expected maturity for listed <\/span><span style=\"font-weight: 400;\">rental agreements<\/span><span style=\"font-weight: 400;\"> is <\/span><b>up to 72 months<\/b><span style=\"font-weight: 400;\">, making their <\/span><span style=\"font-weight: 400;\">rental agreements<\/span><span style=\"font-weight: 400;\"> a high-yielding long-term investment. Current Auto will utilise the Early buyback feature to shorten the investment time.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you&#8217;re interested in investing, be sure to diversify and add Current Auto to your portfolio today!<\/span><\/p>\n<p><b>Notes on security structure:<\/b> <span style=\"font-weight: 400;\">Currently, the claim is not secured. However, it may be secured in the future by collateral, as per the terms outlined in the Collateral Agreement. This collateral would be based on the vehicle used under the Rent Agreement, which is entered into by Current (the company) with the client and remains the property of Current.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b9249f9 e-flex e-con-boxed e-con e-parent\" data-id=\"b9249f9\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7c4f3b8 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"7c4f3b8\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/getincome.com\/blog\/loan-originators\/current-auto\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Learn more<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Income is thrilled to introduce our latest Loan Originator partnership with Current Auto! Established in 2020 and based in Latvia, Current Auto specialises in pre-owned vehicle rent-to-buy options. Current Auto empowers customers with flexible and swift pathways to car ownership, catering specifically to those seeking used vehicles. Since 2020, Current Auto has originated rental agreements [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[42],"_links":{"self":[{"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/posts\/6825"}],"collection":[{"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/comments?post=6825"}],"version-history":[{"count":10,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/posts\/6825\/revisions"}],"predecessor-version":[{"id":6841,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/posts\/6825\/revisions\/6841"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/media\/6826"}],"wp:attachment":[{"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/media?parent=6825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/categories?post=6825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/getincome.com\/blog\/wp-json\/wp\/v2\/tags?post=6825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}