Selig & Stretton: Fund Your Passion Podcast Episode 7

Amanda Stretton 

So hello and welcome to the JBR capital fund your passion podcast live in person. And today we are at the supercar drivers secret meet. Darren, you’ve managed yet again to avoid taking out for real lunch and you bought me here instead.

 

Darren Selig 

We have but we do have a hospitality suite just behind this up the stairs. I’m sure we can sort out a sandwich and a coffee for you. But not quite the restaurant that we imagined but we are in an amazing setting. The most amazing cars I think you’ll ever see him in one place at one time. We have lovely Pagani huayra sitting behind us on the stand going round. And just some fabulous cars two my favourite cars around the Huayra and the Enzo, two Enzos I spotted to over there, so got my eye on one of those, but I might need some good finance for it

 

Amanda Stretton 

Where can one go?

 

Darren Selig 

I wouldn’t know!

 

Amanda Stretton 

Well, I’m delighted to say that we’re also joined by CarlHartley. We’re sharing a tent we are we’re sharing a tent, we’re keeping you at a slight distance, I feel that you’re a long way.

 

Carl Hartley 

I feel like you know, there’s no need for this social distancing. But you’ve applied this law.

 

Amanda Stretton 

It’s great that you’re here. It is a bit of a Hartleytakeover. First of all on the fund your passion podcast, obviously with your dad the other day. But also, here, there’s Hartleys everywhere.

 

Carl Hartley 

Well, we’re not here to take part. We’re here to take over. And yeah, you know, when Darren got in touch with me and my dad to talk about we had to stand next to each other should we congregate and get it all into one and bring some real special cars down for both of our benefit. It was great. I wouldn’t want to do with any other company.

 

Darren Selig 

Oh, wow. Amazing. Thank you. And Likewise.

 

Amanda Stretton 

And I mean, the cars that we’ve got here are incredible. obviously seen your. I’ve only just learned how to say Huayra.

 

Carl Hartley 

Yep, I still don’t know how to say it. I don’t know how to spell it. No, I’ve owned the car for 12 months. I have no idea how to spell it here.

 

Amanda Stretton 

It doesn’t really matter, does it? Why it’s huayra. What Yes. Francis from Pagani told me Yeah, and apparently it’s something to do with like winds the wind God. That’s right.  Anyway, we’re digressing. Obviously, we’ve got the one on the stage going around at the moment, but yours is here as well. Looking. Yes. Beautiful.

 

Carl Hartley 

Yes. Yes. Thank you very much. That’s my pride and joy at the moment.

 

Amanda Stretton 

Do you use it?

 

Carl Hartley 

Not as much as I’d like to but I personally use me a lot more.

 

Cici Muldoon 

Whats gonna change to make you use it a lot?

 

Carl Hartley 

I’m gonna get my driving licence back. Apparently, legally you need one of those.

 

Amanda Stretton 

Do do we talk about the lead up to the losing of the licence?

 

Carl Hartley 

We can just say that it was an unfortunate event that cost me my licence for a period of time.

 

Amanda Stretton 

Fair enough. Okay, well, anyway, that’s gonna be really exciting. Getting it back. You got to wait

 

Carl Hartley 

Only a month. Brilliant. Yes. And back on the road and then piling the miles on!

 

Amanda Stretton 

Okay, so that’s going to be fun for you.

 

Carl Hartley 

I can’t wait. I can’t wait. I’m, I’m with my personal cars. I’m not a mileage sensitive person. I had a Bugatti before the Pagani. I done 16,000 miles in it, which for someone to own a Bugatti Veyron to do 16,000 miles quite a lot. It’s quite a lot, considering I bought the car with 1000 kilometres on it.

 

Amanda Stretton 

Okay, so the debate, you know, what do you do? Do you buy these cars to drive? Or do you buy them to sit and look at I mean?

 

Carl Hartley 

It depends who you are, and your collection. And you know, I know some friends and customers that have 50 cars, so they can’t possibly drive 50 cars. But if you enjoy your car, you worked hard to be able to have it. Why save it for the next owner, the next owner who you sell it to? could track it. He could take it across Europe. He could do whatever and you’ve you’ve babysitted it and looked after it and cared for it and never used it for somebody else to. Its yours. Do what you want with it?

 

Amanda Stretton 

Would you if it was your car? What would you?

 

Darren Selig 

I would definitely use it. I definitely use it I mean I wouldn’t want to have a car just sitting in a garage and collecting dust and all the rubber wearing out.

 

Carl Hartley 

That would give me a reason to sell it if I didn’t have time or the want to use it.

 

Amanda Stretton 

Just just talking about me very quickly, all my cars that I have one rule for cars, okay, I’ve got to be able to get my dogs in.

 

Carl Hartley 

Your dogs?

 

Amanda Stretton 

Yeah, the dogs come everywhere with me.

 

Carl Hartley 

No dogs are not allowed anywhere near my cars.

 

Amanda Stretton 

I’m realising that. So my favourite car that you brought here? I mean, I’ve never driven ones I don’t know what it’s like but for me the speedtail. Yes, I saw it obviously when we came to the showroom it is exquisite.

 

Carl Hartley 

It’s so different to everything else. And I feel as though you have to see the car in the flesh to get the the sheer size of it and how different especially it really looks pictures don’t do that car any justice

 

Amanda Stretton 

No, but also okay so when we’re talking about you know, these these cars, high end super these hyper cars, what is if you like the sort of the USP for people to want to buy them? Is it the uniqueness? Because for me, that’s what stands out about the speedtail? Or is it the drivability? Or does that really depend person to person?

 

Carl Hartley 

I think what pushes these cars out and push the value up are the numbers that are made of them. You’d have a fantastic car that isn’t really very rare. And it will never hold its value because so it’s all goes back to supply and demand with the speed tail, for example, is only one of 106 cars worldwide. So you look at are there more than 106 people in the world that are in the market and want to buy a speedo? Yeah, well, the answer has got to be yes.

 

Amanda Stretton 

And that’s therefore what Yeah, exactly.

 

Carl Hartley 

Usability, drivability looks. They come into play Ferrari makes some absolutely stunning cars. Lamborghini makes some stunning cars not quite as usable as Ferrari prices still do well. But yeah, the USP is definitely it’s a numbers game.

 

Darren Selig 

What do you think of Porsches Carl? Because Amanda isn’t the biggest Porsche fan in the world.

 

Amanda Stretton 

I’m not. I don’t listen, I’ve raced them. They’re great cars, race, but road. They made me pretty cold.

 

Carl Hartley 

My problem with Porsche, is they they are too good at what they do. Yes. And they become soulless because of that.

 

Amanda Stretton 

Thank you.

 

Darren Selig 

You found a friend.

 

Amanda Stretton 

I found a friend I completely agree like to come and sit on the sofa.

 

Carl Hartley 

I completely agree. You know, a 992 Turbo S is the quickest, most usable, you know, everyday car you could ever imagine. But it would it would kill me to drive that car everyday. It looks great. It drives great is usable. But you know it’s Saturday, it’s Sunday. You want to go somewhere really nice. You might just want to go for a drive. Five miles in a Porsche is going to be like i’m bored.

 

Amanda Stretton 

Yeah. I brought a 1968 Camaros z28. Up here. See it’s a useless car on the road. Yeah, I mean, I need a bowser. I spent 60 quid in fuel just going one way. But I have so much fun driving. Because it’s, you know, it’s physical. It’s analogue, obviously. Yeah, you get so much more enjoyment.

 

Darren Selig 

So you did a lot of miles in your Veyron. Yes. Which is a special car. And there’s a quite a story behind that. Yeah. You acquired it. Yeah. I listened to you recently. So what what made you sell the car?

 

Carl Hartley 

Two reasons. I had really high hopes for the Veyron in a financial perspective. I thought they were incredibly undervalued when I bought my car. And it proved that it was incredibly undervalued, because I sort of, I doubled the price in that car, even with the mileage and being totally honest. Because I am an honest, I’ve got no loyalties. With any brand. We’re independent. We buy and sell everything. I was just a bit fed up of the running costs of Bugatti. Yeah, okay, we all know that this is a million pound plus car. pro rata the running costs are going to be more expensive than a Porsche or Ferrari, which is fine. But you have no idea some of the bills I see for other people’s cars for minor minor things. And I you know, I done that I had four years of 27,000 pounds for tires. 52,000 euros for wheels, 18,000 pounds per service per year. And I thought, you know what, I’ve enjoyed the car and loved it. I wouldn’t take a thing back. But Ive done than that, now, the markets at a high place, I bought it at low place, it’s time to go.

 

Darren Selig 

If you compare that to something of similar ilk, maybe a McLaren P1, or a Porsche 918 or something that’s around a million pounds, what are the running costs similar to that or is it significant?

 

Carl Hartley 

So okay, the service cost of a Bugatti is 18,000 pounds. The service cost of a P1 one, for example, would be six or 8000. So it’s still very expensive. But a real quick story that I had with my car is I took into Bugatti he spent the best part of 40,000 pounds on it for tires and the service. And when I was driving out of the service centre, the little toggle that moves the wing mirrors, there was a little bit of play in it. You could put your finger on it and wiggle little bit and it worked. It was fine but it was just a bit of play. So I said to the service “Guys, do me a favour put down another washer or seal or whatever you need to do to get that tight. Just do that.” “Okay, no problem.” They said he Is the quote to do that job was nine and a half thousand pounds. So, because I’m, you know, I can be a little bit slow and I need people to talk to me slow so I understand. So do me a favour just justify this for me break it down because my initial reaction is no way. Yeah, but maybe I’m wrong and then okay you need a new door card you need a new wing mirror motor you need new glass. No, no I don’t everything works is perfect. Yeah, it’s only because I’m really really really funny about everything in this car that I’ve spotted you guys inspected the car didn’t even spot it. I spotted it. You want £9500? So anyway, I didn’t do it. took it to a guy who is bit of a Bugatti specialist, gave the car to him. The next day I picked the car up I said How much do I use to do in that job? He said well there was parts and labour involved Carl he said the part was 89 pence and it took me  20 minutes to do so you owe me a beer and genuine part the part of the Volkswagen Transporter unbelievable and then I that for me as one just drives past by the way that for me was just the straw that broke the camel’s back. I was just like you know what I’m not playing this game anymore.

 

Amanda Stretton 

I get that but I don’t want to do you out of selling anything on there?

 

Carl Hartley 

I love the guy Bugatti is a brand The upside is once you own a Bugatti when you don’t own one anymore you feel lost. Yeah, you feel like I feel I will definitely own another Bugatti whether it be a Chiron or a Veyron but I just need a breakaway. You know, I just needed to timing was good. I’d had a bad experience. And when I’m quite an impulse person, as Darren will tell you. And I just one day I just decided, you know what, I’m going to sell the car. And that was that.

 

Amanda Stretton 

Okay. So what next? What do we got to look for? What have you got to look forward to here and over the coming weeks.

 

Carl Hartley 

Oh, you know, your licence back being obviously I get my licence. I go back out to Spain again on Thursday. But as far as the business comes, we’re always looking to buy and sell cars, as many cars as possible. Whatever brand, whatever make is fine. We’ve always pay more and collect. And yeah, just just just keep this machine ticking over.

 

Darren Selig 

Is there one car that you’ve bought or sold for the business. It’s memorable for you. Oh, yeah. Or are there too many to talk with?

 

Carl Hartley 

Theres too many to talk about. But you know, I look at I’ve always been a massive fan of Pagani. Yeah. And I look at the some of the Zondas that we’ve had in the past, and the prices we sold them for. And you know, I go in my bedroom and cry about that. But you know, I never get too attached to a car, you know, you can’t keep everything. So, no, I enjoy the story of the car more than car.

 

Amanda Stretton 

I’m experienced and what it brings. And yeah, it sounds like that whole is in the ownership. But also the stories as you say that whole ownership journey.

 

Carl Hartley 

I could buy a car, say an f8 spider, for instance, which we buy two a week every week. Yeah. But one specific car will stick in my head because of the way the deal was done who I bought it from the scenario in which it happened. So that they’re better memories for me than the car. Yeah, I’ll never I’ll never remember the car, but always remember the deal.

 

Amanda Stretton 

Great stuff. Well, listen, thank you very much for joining us.

 

Carl Hartley 

Thanks for having me.

 

Amanda Stretton 

It’s been lovely to see you and yeah, enjoy the rest of the day.3

 

Carl Hartley 

Thank you very much.