bought into the share recently, New to lending procedures and trying to work out the intrest MNY charges the clients to borrow money for the second hand cars purchase.
Understood that MNY has around 180- 190 mil of their own equity, they borrowed around 100 mil to complete the 293 mil that is currently in the GROSS LOAN BOOK
My questions : who do they borrow the 100 mil from, and for what annual rate ( term), followed by how much do they charge the client in anual rate, the diffrence in rate % will allow us to calculate the future gross profit.
obviously profit margins will reduce when using borrowed money.
the next growth phase mentioned from 14,000 current car loans ( 2% of market of 700,000 in total ) to
a 3% of market = 21,000 car loans. most of those cars will use MNY borrowed money not the same as using ones own equity.
Please anyone enlight me with those silly question. Thanks in advance.
MNY Price at posting:
$1.88 Sentiment: Buy Disclosure: Held
