Poll: What financial method enabled you to get your Evoque
This poll is closed.
Cash 56.00% 14 56.00%
Finance (Loan etc) 12.00% 3 12.00%
Leasing 32.00% 8 32.00%
Total 25 votes 100%
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Cash .vs. Finance .v.s Lease
caroline11000
 

Posts: 521
Joined: Jun 2011
Location: kent uk
Post: #21
RE: Cash .vs. Finance .v.s Lease

Cash for me!

Pure 5dr SD4 Auto
Fuji, Ebony, Tech Pack, Pan Roof, Privacy Glass, Front Fogs, Park Assist, Rear Camera, Power-Fold Mirrors, Xenons & Spare Wheel
Got car 9th Dec 11
REJECTED car 9th Jan 12 - paint runs down doors & seals one side, obvious bad re-spray before delivery! Big Cry
New car arrived 31st March 12 Very Happy
11-10-2011 10:59am
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jiggyjaggy
 

Posts: 48
Joined: Aug 2011
Location: London
Post: #22
RE: Cash .vs. Finance .v.s Lease

Wow a fair few people buying as cash. As you not all worried about the depreciation on cars? However if the Glass's guide is to go by, then it makes for good reading Smile
11-10-2011 11:09am
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XFullFatTim
Bat wielding forum enforcer

Posts: 9,295
Joined: Oct 2010
Location: Somewhere between here and there.
Post: #23
RE: Cash .vs. Finance .v.s Lease

Well leaving it in the bank isn't going to earn you very much interest so you might as well spend it on something you are going to enjoy. Doesn't matter what new car you buy it's going to depreciate just that for the first year the RRE will depreciate less than most others. Personnally I don't bother about the depreciation - I invariably end up buying a car that will loose a fortune anyway but I enjoy them and don't think too much about what they will be worth 2-3 years down the road!

A Pangea Green New Defender 110 First Edition is now sitting on my drive alongside British Racing Green Electric Mini Cooper SE Level 3. After 21 years in my hands my TDI300 90 was handed on to the next custodian on 15 July 2022.
(This post was last modified: 11-10-2011 11:41am by XFullFatTim.)
11-10-2011 11:39am
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DynamicRRV
 

Posts: 633
Joined: Apr 2011
Location: Midlands
Post: #24
RE: Cash .vs. Finance .v.s Lease

Exactly
11-10-2011 03:07pm
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Spiderman
 

Posts: 380
Joined: Sep 2011
Location: Scotland
Post: #25
RE: Cash .vs. Finance .v.s Lease

+1 Smile

Quit work - Get some stuff - Go somewhere - Have some fun
12-10-2011 02:10am
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ceebee
 

Posts: 295
Joined: Oct 2011
Location: Newcastle
Post: #26
RE: Cash .vs. Finance .v.s Lease

I tend to find that "new" design cars hold their value very well for the first few years as there are very few used ones around.
Also, the base models seem to lose less (as a percentage of their purchase cost)?
I bought a Ford Kuga 3 years ago (as soon as it was released) in the basic "Zetec" trim with a few extras for £19,995. I used the Ford PCP scheme and after 3 years the GFV was £9.5K, which I paid off. I sold the car for £14,250 last month, so it depreciated by under 6K in 3 years which I thought was pretty good.
I have odered a Pure, with a few extras, Panoramic, privacy glass and 20" Alloys and I am hoping that the same happens with this car. However, time will tell.
As for finance, I am using the money from the Kuga sale plus a 15K loan from M&S at 6.4%. I have used savings for the 2K shortfall as the rates rise for the loans once you borrow above 15K.
I wasn't too keen on the PCP scheme as you need to keep an eye on the mileage and vehicle condition is case you need to hand it back after the term, so with the Evoque i just wanted to drive it out of the dealership and not owe LR anything, with just the £15K M&S loan owing.

Waiting for: - 2015 SD4 Dynamic, LUX pack, Auto, 5 door. Mauritius Blue. Santorini Roof........spare wheel.
16-10-2011 04:38pm
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Daigriff
 

Posts: 655
Joined: Apr 2011
Location: North Wales
Post: #27
RE: Cash .vs. Finance .v.s Lease

Very sensible Ceebee the M&s deal is the best for up to 15k and I'm sure residuals will stay strong.

Arrived 16th December 2011: 5 door Prestige SD4 auto in Barolo black with ambience interior, pano roof, privacy and 20" style 6 alloys.Very Happy
16-10-2011 05:19pm
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Prestige Car Finance
 

Posts: 37
Joined: Sep 2011
Location: Battersea
Post: #28
RE: Cash .vs. Finance .v.s Lease

Finance for me. Smile

The UK's leading alternative to showroom finance
17-11-2011 04:38pm
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Straydox
 

Posts: 583
Joined: Nov 2011
Location: Warwick
Post: #29
RE: Cash .vs. Finance .v.s Lease

(10-10-2011 10:40pm)jiggyjaggy Wrote:  Scrap what I said earlier, I don't think I can wait 6 months to lease a car, and Im not wanting to put down £40 on a new one, purely as I can use the money for my business. Time to find out which leasing company can provide me a white Dynamic within 6-8 weeks! lol Laughing

Patience is definitely not a virtue! ha ha

I have also been looking at this (my current Audi is on Private Contract Hire from a leasing company). To be fair on a car forum you will always get a 'cash' answer because ownership is part of being a car enthusiast.

What many people most probably don't realise is that the really big leasing companies don't pay anything like list price for the vehicle and even though it might be delivered via the dealer network they will get a 'kick-back' direct from the manufacturer. When your buying power is measured in the 10s of thousands of vehicles per annum almost anything is possible.

If one is looking to lease a vehicle this it is perfectly possible to get a deal that just doesn't stack up with buying a car using cash - because your aren't comparing like with like. I have access to a company car scheme and the monthly lease prices on 3 years/60,000 mile inc full maintenance on a SD4 Prestige are competitive (including the increased income tax burden) with the best private lease deal I've found. The only way this can happen is if the leasing company either has access to very cheap money or the purchase price is significantly lower in the 1st place.

It's not fair is it?
17-11-2011 05:24pm
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jiggyjaggy
 

Posts: 48
Joined: Aug 2011
Location: London
Post: #30
RE: Cash .vs. Finance .v.s Lease

Has anyone kept an eye on the leasing costs over the last few months, have they come down at all?

Maritius Blue what a colour - I don't own one but my my what a colour! Cool
01-03-2012 01:59pm
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