VietinBank to auction collateral McLaren starting at $1.1M

According to VietinBank Debt Management and Asset Exploitation (VietinBank AMC), which handles debt collection for VietinBank, the car, whose license number is 51K-011.86, was registered in HCMC in 2022 by a woman.

The McLaren 765LT Coupe with license number 51K-011.86 in a private showroom in HCMC earlier in 2023. Photo by KSupper

She used the supercar as collateral for a loan from the bank and it was seized in early October.

VietinBank AMC tasked Thien Binh Auction Partnership Company with hosting the auction for the supercar.

Details of the auction, including date and location, have not been announced.

The McLaren 765LT Coupe was a limited edition of the 765LT model priced at VND35 billion, not including VND5 billion in applicable taxes and fees, when it arrived in Vietnam.

The luxury car brand established its first official showroom in HCMC last October and not many people could get their hands on the limited 765LT.

Since last year, many banks have had to seize and auction several collateral luxury cars starting at tens of billions of dong (VND10 billion = $412,328).