Member Since: 26 Nov 2006
Location: Gloucestershire
Posts: 70
Have just purchased a Range Rover sport Autobiography 4.4 today after trading in my16 discovery 4.
I used Kam, Simon at MHC finance they recommended best option ref pcp, hpb
They dealt with dealer and all the paper work other wise dealer was total waste of time come figures etc , I just sent Simon cars i was interested in he returned with Finance figures etc .
Have purchased 5 cars now using them "Its as convincing as a Giraffe with sunglass trying to get into a Polarbears only golf club "
Disco 4 HSE 16
New RRS 4.4
Last edited by lab-monkey on 27th May 2017 11:37 pm. Edited 1 time in total
1) have you heard of Google?
2) it will all be Tory Westminster's fault
Sorted
27th May 2017 11:02 pm
MGCarr
Member Since: 15 Jul 2014
Location: Lancashire
Posts: 703
DM, like me you can fix your own vehicles - probably better than me - and more importantly you have excellent facilities for repairs and are not frightened of fixing big problems if they occur. I have been in the motor trade all my working life, managing some very big car, commercial and bus fleets and on many occasions I have been asked by colleagues to calculate what would be best for them over outright ownership rather than lease, personal contract plan (PCP), contract hire, company car etc. In every case outright ownership of a vehicle purchased as a late, low mileage, second hand car and then run until it's age and mileage makes it unacceptably unreliable is always significantly cheaper than any of the alternative financial packages except for the very occasional risk of a catastrophic mechanical failure where the user needs to avail themselves of main dealer facilities/prices for the repair, obviously this would not apply to you. So my advice to you would be to buy whatever it is that you are looking at outright, avoid extended warranties like the plague and live with the very, very small risk involved.
Note to other people such as DSL (no disrespect intended) who may be reading this, my advice is specifically intended for DM and may not apply to you.
1997 Defender 90 for the kids and I to have a go at some competitive off road RTV and Tyro trials, daughter picked up her first trophy over the August Bank Holiday.
Previous Land Rover history
1996 P38 4.6 V8 Autobiography
1996 Discovery TDi 300
1972 Range Rover 3.5 V8
LWB Hard Top Series 3
LWB Truck Cab Series 2A
Not been without a Land Rover for over 40 years - I must need therapy!
28th May 2017 1:40 am
Pelyma
Member Since: 06 Jan 2005
Location: Patching, Sussex
Posts: 15496
NoDo$h wrote:
1) have you heard of Google?
2) it will all be Tory Westminster's fault
Sorted
DS3 TDV6 HSE - Silver with Alpaca (old one) Gone
DS3 TDV6 HSE- Silver with Alpaca (new one) Gone
D4 HSE Lux - Montalcino Red Gone
Porsche Cayenne V8 Diesel S
28th May 2017 5:45 am
DSL Keeper of the wheelie bin
Member Since: 11 May 2006
Location: Off again! :-)
Posts: 73079
MGCarr wrote:
Note to other people such as DSL (no disrespect intended) who may be reading this, my advice is specifically intended for DM and may not apply to you.
You saying I'm not mechanically minded?
Though I have kept my D3 for over 11 years.
28th May 2017 6:07 am
Red Merle
Member Since: 30 Aug 2014
Location: Liskeard
Posts: 7441
MGC: I can see the logic of outright purchase of lightly used but, for many, finance of some kind is going to be inevitable for a used car purchase north of £40,000.
While interest rates can be low on personal loans, unsecured personal loans tend to get much more expensive as the figures get more substantial and the lender's perceived risk increaes.
This is when a carefully managed PCP can really work. I financed the purchase of my first D4 that way, was able to settle as quickly as I could, then used that one to trade for a nicer (12 month old) one and paid the difference in part cash and part small loan.
DM, like me you can fix your own vehicles - probably better than me - and more importantly you have excellent facilities for repairs and are not frightened of fixing big problems if they occur. I have been in the motor trade all my working life, managing some very big car, commercial and bus fleets and on many occasions I have been asked by colleagues to calculate what would be best for them over outright ownership rather than lease, personal contract plan (PCP), contract hire, company car etc. In every case outright ownership of a vehicle purchased as a late, low mileage, second hand car and then run until it's age and mileage makes it unacceptably unreliable is always significantly cheaper than any of the alternative financial packages except for the very occasional risk of a catastrophic mechanical failure where the user needs to avail themselves of main dealer facilities/prices for the repair, obviously this would not apply to you. So my advice to you would be to buy whatever it is that you are looking at outright, avoid extended warranties like the plague and live with the very, very small risk involved.
Note to other people such as DSL (no disrespect intended) who may be reading this, my advice is specifically intended for DM and may not apply to you.
To be fair, a PCP is never going to be best for someone who wants to buy a second hand car and then run it until uneconomically feasible - that's not the market its aimed at. It is aimed at people who want a new car and be in a relatively frequent (2-3) year change cycle. Yes, buying a new car costs more than a used one, but it also comes with benefits like new tyres, a full 3+ year warranty, not needing a service etc etc. Not everyone wants to run a car until no longer uneconomically feasible, they want to change and the fact they do is the reason a second hand market exists. I feel looking at buying a car in the purely "value for money" way you propose isn't the way most people will view it - it should be more of a considered decision with factors you cant put a number on such as "do I want a new car every x years? do I want to choose the exact spec of my next car? do I want the new car smell etc etc? at the end of the day it comes down to what each person wants to pay and accepting that having what you want comes with a premium. Some of the lease deals available make outright purchase and PCP seem like throwing money away but it will only suit you if you want to change the car when the lease period is up.
31st May 2017 11:41 am
Red Merle
Member Since: 30 Aug 2014
Location: Liskeard
Posts: 7441
A friend bought a 4 year and 15,000 mile old XF on PCP.
He's got 3 years and either 75,000 or 90,000 miles on the PCP. The plan was that, if it's a dud, he can hand it in at the end (and owe nothing) or, if it's a goodn', he'll then buy it outright and run it until it's no longer viable. It's like buying a used car, but with a known history and a 90,000 mile test drive!
After about a year, it's driving to be a darn sight better than his previous 4 year old 520d...
So, even buyers of used cars, with the intention of running it into the ground, can make good use of a PCP
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