JPMorgan Chase & Co. is expanding its push into the ultra-wealthy segment by allowing European clients to secure loans using luxury and classic car collections as collateral, according to Bloomberg.
The Wall Street bank’s private banking division enables clients to borrow against rare, classic or custom-built vehicles stored in European jurisdictions such as the UK, Italy and Germany. The service, already available in the US, will also roll out in France, Switzerland and Spain, the bank announced.
The move comes as high-net-worth individuals increasingly view car collections as strategic wealth-diversification tools rather than pure passion assets. Classic cars from iconic European brands like Ferrari, Porsche and Mercedes-Benz have outperformed stock markets in recent years, with growth continuing into 2024 despite a broader downturn in luxury assets.
Ferrari and Porsche collections are now used as financial instruments by ultra-wealthy clients
Knight Frank’s Wealth Report 2025 shows that top-tier automobiles rank as the most desired luxury asset among the world’s young ultra-rich, second only to real estate. Demand now surpasses that for private jets, fine art, wine collections or superyachts.
Recent high-profile investments underline this trend. Mark Mateschitz, the 33-year-old son of Red Bull’s late co-founder, acquired Bernie Ecclestone’s renowned car collection this year. Meanwhile, French billionaires François and François-Henri Pinault, together with tech magnate Xavier Niel, are backing the revival of historic French brand Delage Automobiles, focused on hypercars priced from at least €2 million each.
“We understand that a passion for automobiles blends emotion with investment. Car collecting is no longer just a hobby, but a sophisticated wealth management strategy,” said Steven Hawkins, head of specialised lending at JPMorgan’s international private bank.
Photo: Haute Today
