Member Since: 23 Aug 2013
Location: Hereford
Posts: 1429
D4 financing - how do you do it
Just playing around on the Land Rover website and building a D4 (don't tell swmbo) and came to the finance section
How do you lot pay for your D4's?
1. Outright? - no chance for me
2. PCP - looks feasible but the GFV worries me, will i have any equity left for deposit on next one?
any other options?
19th Apr 2015 7:19 am
Fitzy73
Member Since: 09 Feb 2014
Location: Truro
Posts: 2407
I went for a PCP as sadly no chance of making an outright purchase, not even on our used one.
Although seriously regretting not paying a little more each month and getting a slightly lower spec new one.
Edit: must say I'm worried about the future value as well, especially as there will probably be a new model in a little under the 2 years I have remaining. Although, all being well I am willing to pay the balance and keep it, but another one would be preferable!Andy
19th Apr 2015 7:40 am
Robbie
Member Since: 05 Feb 2006
Location: ¯\_(ツ)_/¯
Posts: 17932
I'm an outright purchase kind of guy. I always recon that with a finance package you are paying someone's wages somewhere. Saving money can take years and can leave you with a naff car for a while but once you are ahead of the drag curve it gets a lot easier.
Land Rover - Turning Drivers into Mechanics Since 1948
Member Since: 20 Sep 2005
Location: Home and Happy
Posts: 6917
Asset Finance - like a PCP but without mileage restrictions (mines paid for now anyway as I've just paid the ballon of) done all my cars that way since 1998
I used Yorkshire Bank
19th Apr 2015 9:46 am
DiscoJake
Member Since: 23 Aug 2013
Location: Hereford
Posts: 1429
I'm looking more at having a new one every 3 years on LR pcp.
I'm guessing your initial deposit quickly gets eaten up though when you come to change as the equity is not much more than guaranteed future value?
19th Apr 2015 10:18 am
DG Site Moderator
Member Since: 12 Dec 2005
Location: The Gaff
Posts: 50978
My equity has held firm since 2008 and has meant that I've had two new D4's with increasing spec for a similar monthly outlay ..yes I'm effectively "renting" instead of owning but there's no appreciation ...my savings are working hard elsewhere. A month ago I walked into my dealer with a 25 month old D4 HSE and walked back out with a new one for less, more toys another 3 year warranty, servicing included and less monthly outlay. I'm not unhappy about it 21 year LR veteran > D2 GS 2003 > D3 S 2006 > D3 HSE 2009 > D4 HSE 2013 > D4 HSE 2015 > D5 HSE 2018 > DS HSE R-Dynamic P300e 2021
19th Apr 2015 10:29 am
DiscoJake
Member Since: 23 Aug 2013
Location: Hereford
Posts: 1429
That's sounds promising DG. Might have to sneak off to the dealer for a chat
It's the warranty etc that really sways me especially with the service package they now offer
19th Apr 2015 10:36 am
xcentric
Member Since: 01 Apr 2015
Location: Shropshire, UK
Posts: 1081
if you want a better PCP deal than LR dealers, then Oracle finance did me a great quote (no affiliation with them) - eventually did cash but they were the cheapest I could find for PCP. PM me for the contact details if you want, or Google them - ask for Geoff and tell them I recommended them
19th Apr 2015 5:56 pm
Wilco44
Member Since: 15 Apr 2015
Location: Somewhere in Time
Posts: 48
PCP for me although I effectively run it though my business, which helps with monthly payments. The used car interest rate is a bit steep compared to borrowing the cash but I can offset the interest against my tax bill so get most of the interest back over 4 years.
Just traded in a 30 month old FL2 XS bought on pcp from new for a 24 month old Disco 4 HSE with much better spec and 2 year appoved used warranty. Settlement on FL2 left me with a deposit to put down on Disco although I did add a bit more to it but still only paying £40 per month more. In 2 years time I will probably trade in again as I will need to buy a warranty at that point.
Works for me but pcp does not suit everyone, especially if you are into modding the car. Firm not hard
23rd Apr 2015 3:39 pm
Scottbrad
Member Since: 20 Dec 2014
Location: Newcastle upon Tyne
Posts: 230
I went into the dealership with the intention of buying outright so turned down all their finance deals until the sales guy said, we do have this other finance deal which works out at 0.6% for 20k, I bitt their hand off and stuck the 20k in a "high" interest account. So if you can put down a larger deposit then go in making out you're willing to buy outright and hopefully they'll offer you it. Others on here have also been offered it.Cheers Scott.
23rd Apr 2015 5:29 pm
BBDisco3
Member Since: 23 Nov 2008
Location: Cheshire
Posts: 3646
Is that 6% or .6%
23rd Apr 2015 5:38 pm
Scottbrad
Member Since: 20 Dec 2014
Location: Newcastle upon Tyne
Posts: 230
0.6% Cheers Scott.
23rd Apr 2015 5:48 pm
Hairy Dan
Member Since: 19 Jan 2011
Location: Co. Durham
Posts: 12319
I can confirm Scottbrad is correct as I did exactly the same back in September at the same dealer Cheers Ian
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23rd Apr 2015 9:12 pm
BBDisco3
Member Since: 23 Nov 2008
Location: Cheshire
Posts: 3646
Why have I just been googling Scottbrad ???
Who is the finance company?
23rd Apr 2015 9:18 pm
Scottbrad
Member Since: 20 Dec 2014
Location: Newcastle upon Tyne
Posts: 230
Quote:
Why have I just been googling Scottbrad ???
I hope you didn't get to see my Facebook holiday snaps
Quote:
Who is the finance company?
The DD comes out for Land Rover Financial Services, I'm currently at work so don't have the paperwork to hand to confirm this.
As Dan has said, we both purchased our cars from the same dealership however I can't imagine they're the only dealership offering this finance deal. When I asked why they didn't advertise this offer, their response was, we do want to make money.Cheers Scott.
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