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The Price of speed.

Today we visited Silverstone Race Track for the Trax 2011 event. Littered with suped up cars of the total fanatic, to the most spectacular vehicles which an average jo would have to take out an mortgage to purchase.

The price of speed is high. But its incredibly exciting, and I admit that visiting these events really inspires me to pull my finger out and get my car sorted, bless the poor thing. Anyway, events like this can create great demand for specialist companies to create the car of your dreams from an old wreck or simply improve the car’s appearance or speed.

Think about car manufacterers, every year we gasp in wonder as a new model is showcased and we desire these vehicles.

The new Landrover Evoque has a waiting list of a year and a half. Already this car has just been released and so many people want one. Thinking about this process, thousands of people want this car, they may have paid a deposit or in full, now the manufacteres need to get the cars on the line and into production, but where do they get the funding to produce this amount of cars?  Certain manufacteres use factoring in a bid to carry on with business, pay staff and produce the cars that owners are desperately waiting for.

Factoring allows companies to gain funds against invoices. These invoices may be for parts, materials, anything that they are owed by clients. Companies can contact a factoring lender, send out the invoices, tell the lender about the invoices and they can produce the funds for up to 90% of the invoices, so the company has funds and has them quite quickly.  Factoring is one of the best solutions in this economic period as banks are becoming less inclined to lend out any money

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