Member Since: 14 Oct 2013
Location: 'Sunny' Zomerset
Posts: 9402
Quote:
So Iggy we have forgotten all about the rugby photo that my WIFE posted and you replied
You could never upset me Chris!
Iggy/Ieuan
Current LR =
2015 RR Sport Autobiography
&
1992 Land Rover Defender Camper
- Gone but not forgotten:
MY10 D4 GS
MY05 Disco 3 'S'
MY14 FL2 HSE manual in Blue
MY15 Disco 4 HSE Lux in Santorini Black
MY08 Disco 3 SE manual in Buck Blue
1960 Series 2 88" (No idea why I sold it!)
17th Feb 2017 8:01 am
Iguana
Member Since: 14 Oct 2013
Location: 'Sunny' Zomerset
Posts: 9402
Right quick update - I've been going through the costs and I can't get over the £6552.15 'Hire Purchase' charges that LR are quoting me
Just seems like a huge charge added in the mix - This is going through their PCP finance at 6.9%, but still this charge is huge and adds to the total paid
Anybody know if there is an alternative to a PCP deal with LR, do other finance companies out there do one?
TO be honest I think the car is a bit on the high side for my budget, so looking to see if better way to finance or I look for a cheaper car
And this is me, not SWMBO inputs - Slept on it and I'm worried about that HP charge they are adding onIggy/Ieuan
Current LR =
2015 RR Sport Autobiography
&
1992 Land Rover Defender Camper
- Gone but not forgotten:
MY10 D4 GS
MY05 Disco 3 'S'
MY14 FL2 HSE manual in Blue
MY15 Disco 4 HSE Lux in Santorini Black
MY08 Disco 3 SE manual in Buck Blue
1960 Series 2 88" (No idea why I sold it!)
I'm assuming the payments are in the region of £500pm? 6.9% is pretty much the norm for non-subsidised these days, so you will struggle to knock that charge back much.
Only suggestion I could make is to park the idea for 12 months and put that £500pm in the bank so you can reduce the overall finance when you buy buy a more expensive model for the same payment
17th Feb 2017 10:12 am
Iguana
Member Since: 14 Oct 2013
Location: 'Sunny' Zomerset
Posts: 9402
To be honest Mrs Day is not happy with taking on such a high dept, especially when she looked at the quite and saw that £6552, monthly is around £500 at £492.15
I do like the thought of putting the £492 away for 12 months - also in 12 months the D4's I like will be cheaper also.
God this process is tough! Emotions all over the place, like a kid in a sweet shop one day, then sat with spreadsheet and next day thinking 'This is loads of money'!
One min I think it just do it, next thinking ' it that's a tone of cash Iggy/Ieuan
Current LR =
2015 RR Sport Autobiography
&
1992 Land Rover Defender Camper
- Gone but not forgotten:
MY10 D4 GS
MY05 Disco 3 'S'
MY14 FL2 HSE manual in Blue
MY15 Disco 4 HSE Lux in Santorini Black
MY08 Disco 3 SE manual in Buck Blue
1960 Series 2 88" (No idea why I sold it!)
17th Feb 2017 10:21 am
waterbuoy
Member Since: 26 Oct 2013
Location: Argyll
Posts: 2855
Is PCP the only option for you Iggy?
When we bought SWMBO's D4 last autumn LR tried to push us down the PCP route but in the end we opted for a private bank loan for which the rates were less than half the PCP. It should be possible to get a loan at around 3% still....Currently 2009 Disco 3 SE and 2013 MY D4 HSE
Previously:
TD5 Defender 110 CSW (230k miles)
300TDi Disco 1 (289k)
4 RR Classics (300-350k each, 2 manual, 2 auto)
110 V8 CSW (220k)
S3 109 hi cap pickup (ex RN)
S2A 88 Safari SW with lpg conversion (bloody lethal)
17th Feb 2017 10:28 am
Cobstar
Member Since: 03 Mar 2010
Location: UK
Posts: 194
As waterbuoy says there are lower interest bank loans and some banks also do PCP at lower rates than LR.
I hate borrowing money but have convinced myself PCP is really just running costs to have a new or new-ish car in my drive every couple of years. Given depreciation costs on moving in a car bought in full can justify it to myself
17th Feb 2017 10:58 am
countrywide
Member Since: 16 Sep 2007
Location: UK
Posts: 6019
If you want the safeguard of PCP GFV, take the Land Rover PCP and then pay off all of the loan apart from the GFV using a supermarket rate loan. You still pay the 6.9% on the GFV, but it will save a huge amount of money.
17th Feb 2017 11:09 am
cheddarwards
Member Since: 07 Aug 2006
Location: Somerset
Posts: 169
If you can borrow 25k at approx 3.5% apr on a personal loan over 5 years the payments would be £454 a month & there would be no balloon at all. The total interest would be £2240 on that basis which is much more reasonable.
I dont know how much you were looking to borrow - but if it was around the 25k mark then this would be the route i would take. Even if you sold the car after 3 years you would only owe approx £10500 which the car would be worth much more than. It would be 5400 after 4 years & you would own it at 5 years.
PCP gives you security, but it not always the best way to fund.
17th Feb 2017 11:31 am
mz mini
Member Since: 02 Jul 2014
Location: Sunny Devon
Posts: 1759
I have a little understanding of PCP,s and as a private buyer I yet to see any benefit that would attracted me to them, as other have said a good old personal loan takes some beating .I have had offers through from my credit card company at 2.9% with a 1% credit back to the account so in fact in reality its a 1.9% loan over the period of the loan .
TBH all its a rip off here is a prime example we have just ordered a new kitchen
6 months interest free then you can pay the balance or switch to finance agreement at the knockdown price of 17.9% PA I think I may well take the former option
Iggy a few years a go we brought two new BMW M3's I told the in house finance manager to stick his rate and walked out before we got to the car he was running across the car park he now had a much better rate we can offer
The bottom line is as my switched on wife tells the dealer who thinks that we just cant walk away
"were not emotionally attached to you car " don't let you heart rule your head were money is concerned there will be better deals elsewhere
I hope you get the right deal for you looking forward to seeing itLand Rover 90 - deceased
Discovery 3 - deceased
Discovery 4 2013
Mini Cooper S 1964 Mk1 - International Rally winner red & white
Mini Cooper s 1964 Mk1 - Road Rally champion green & white
Mini Cooper S 1971 Mk3 - original and unrestored
Porsche 911 997
Porsche Boxster 3.4S
VW Polo 1.2
Citroen Xsara Picasso - shed/run around
17th Feb 2017 12:19 pm
Iguana
Member Since: 14 Oct 2013
Location: 'Sunny' Zomerset
Posts: 9402
Woody just texted me....Told me to have a break from looking at cars, take SWMBO and Max for a walk, have a nice weekend free from car searching, take some deep breaths and then see what happens on Monday - I think I'll do that as he is "All knowing" (And also scares me )
I did have finance set-up at 3.2% with Hitachi finance, so up to £25k with my car on top - so I think when I do return I need to be looking at a more realistic price and slightly older car.
Amazing what LR charge, they offered Gap insurance at £699 I know I can get this for £150 or so elsewhere
Anyway, I'm now taking a break from car searching this weekend Iggy/Ieuan
Current LR =
2015 RR Sport Autobiography
&
1992 Land Rover Defender Camper
- Gone but not forgotten:
MY10 D4 GS
MY05 Disco 3 'S'
MY14 FL2 HSE manual in Blue
MY15 Disco 4 HSE Lux in Santorini Black
MY08 Disco 3 SE manual in Buck Blue
1960 Series 2 88" (No idea why I sold it!)
17th Feb 2017 12:30 pm
mz mini
Member Since: 02 Jul 2014
Location: Sunny Devon
Posts: 1759
Iggy this a specialist finance company that advertise on my Porsche forum
Performancecarfinance.co.uk ,I have spoken to them in the past and found them most helpful
phone number 01737212650 cheapest option I found never did us them
Just seen you latest post Iggy going over to Woodys tomorrow 2 new wheel bearings
more cash Land Rover 90 - deceased
Discovery 3 - deceased
Discovery 4 2013
Mini Cooper S 1964 Mk1 - International Rally winner red & white
Mini Cooper s 1964 Mk1 - Road Rally champion green & white
Mini Cooper S 1971 Mk3 - original and unrestored
Porsche 911 997
Porsche Boxster 3.4S
VW Polo 1.2
Citroen Xsara Picasso - shed/run around
17th Feb 2017 12:36 pm
Iguana
Member Since: 14 Oct 2013
Location: 'Sunny' Zomerset
Posts: 9402
Thanks my friend
Good luck tomorrow also, at least it's much cheaper than with the dealers
Will check out the number once I return from my break away from i all Iggy/Ieuan
Current LR =
2015 RR Sport Autobiography
&
1992 Land Rover Defender Camper
- Gone but not forgotten:
MY10 D4 GS
MY05 Disco 3 'S'
MY14 FL2 HSE manual in Blue
MY15 Disco 4 HSE Lux in Santorini Black
MY08 Disco 3 SE manual in Buck Blue
1960 Series 2 88" (No idea why I sold it!)
Member Since: 11 Mar 2009
Location: Somerset
Posts: 3551
mz mini wrote:
Just seen you latest post Iggy going over to Woodys tomorrow 2 new wheel bearings
more cash
Bring plenty
Quote:
Woody just texted me....Told me to have a break from looking at cars, take SWMBO and Max for a walk, have a nice weekend free from car searching, take some deep breaths and then see what happens on Monday - I think I'll do that as he is "All knowing" (And also scares me Laughing )
Have a good weekend mate Wanted D4s non runners pm for competitive price.
IID Pro MV License - D3/4 RRS - Enabling, Updates,Transmission flushing.
Mobile or workshop,PM for details.
17th Feb 2017 9:30 pm
mz mini
Member Since: 02 Jul 2014
Location: Sunny Devon
Posts: 1759
Woody is the apprentice working this weekend Land Rover 90 - deceased
Discovery 3 - deceased
Discovery 4 2013
Mini Cooper S 1964 Mk1 - International Rally winner red & white
Mini Cooper s 1964 Mk1 - Road Rally champion green & white
Mini Cooper S 1971 Mk3 - original and unrestored
Porsche 911 997
Porsche Boxster 3.4S
VW Polo 1.2
Citroen Xsara Picasso - shed/run around
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