Wealthy foreigners are Britain's biggest supercar buyers

Updated: 
Lamborghini Huracan
Lamborghini

Spot an exclusive supercar on the streets of London and time was when you'd expect a famous actor or sporting star to be behind the wheel. Now, though, it's more likely to be wealthy foreigners enjoying the best cars, according to new research from Magnitude Finance.

The prestige car finance company has revealed which members of society are the most prolific spenders when it comes to exotic wheels, based on the number of cars priced over £60,260 that were bought in the UK during the 2014-15 financial year.

Topping the list were ultra-rich foreign nationals, including Russian oligarchs, Middle-Eastern sheikhs and Chinese businessmen, who are becoming increasingly prominent in the capital city.

However, they are closely followed by professional footballers, many of who are famed for their extravagant taste in cars.

High-flyers in technology and communications markets also like to splash the cash on flashy cars, coming in just behind property tycoons as the fourth biggest spenders. And, despite increased post-recession scrutiny on City workers' salaries and bonuses, financiers still aren't shy of a little conspicuous consumption, beating both film stars and musicians in the top ten.

Making up the final entries in the list are solicitors, company directors and lottery winners.

Magnitude Finance Director Tim Marlow said: "We have helped thousands of high-net-worth individuals buy the world's best cars and this is the first major change in the list for over 20 years.

"Ever since Sky bought the Premiership television rights, footballers have always been in the top spot - until this year.

"London-based foreign wealth is top of the list and reflects how much they spend in other areas such as property.

"Customised Rolls-Royces, Bentleys and Ranger Rovers are most popular and complement the more exotic models they have in their stable like Lamborghinis, Ferraris and Bugattis."