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+--- Thread: Evoque - Guaranteed Minimum Future Value (GMFV)? (/Thread-Evoque-Guaranteed-Minimum-Future-Value-GMFV)
Evoque - Guaranteed Minimum Future Value (GMFV)? - Alex - 10-05-2011 07:11pm
I was curious on Finance options with Land Rover for the Evoque and I assume there will be large majority who have placed a deposit are not buying their car outright.
Does anyone know when the Guaranteed Minimum Future Value (GMFV) for the Evoque will be announced? Also as the vehicle will be in high demand I’m guessing the interest with any of the LR finance packages will be quite high - any ideas what they may offer?
Last month when we looked at the Audi Q5 for £38K with an £18K deposit the best Audi could offer us was one of their packages at 14% interest.
RE: Evoque - Guaranteed Minimum Future Value (GMFV)? - griff - 11-05-2011 07:18am
(10-05-2011 07:11pm)Alex Wrote: I was curious on Finance options with Land Rover for the Evoque and I assume there will be large majority who have placed a deposit are not buying their car outright.Hi Alex
Does anyone know when the Guaranteed Minimum Future Value (GMFV) for the Evoque will be announced? Also as the vehicle will be in high demand I’m guessing the interest with any of the LR finance packages will be quite high - any ideas what they may offer?
Last month when we looked at the Audi Q5 for £38K with an £18K deposit the best Audi could offer us was one of their packages at 14% interest.
I'll be buying on a PCP and my dealer reckons finance packages will be out at the end of this month. He does not know presisely what interest rate will be charged but indicated 8 - 12%
Regards
RE: Evoque - Guaranteed Minimum Future Value (GMFV)? - Alex - 11-05-2011 08:20am
I'm hoping it will be closer to the 8% margin! But as the car will be in high demand I would not be surprised if the interest will be quite high as in the Audi Q5 offer.
But some car manufacturers for certain models have some excellent finance arrangements making the purchase more attractive. In the current financial climate and the supposed demographic/customer base that the Evoque is appeared to be aimed at I think a poor finance package (high interest) may discourage initial interest.
RE: Evoque - Guaranteed Minimum Future Value (GMFV)? - LRX - 11-05-2011 08:32am
So buying a £40k car on PCP - what is the actual amount paid by the end of the agreement? I guess it ends up being nearer £50k?
I'll never understand people who don't just save up. If you can't afford it you shouldn't have it.
RE: Evoque - Guaranteed Minimum Future Value (GMFV)? - DynamicRRV - 11-05-2011 09:28am
Ditto
RE: Evoque - Guaranteed Minimum Future Value (GMFV)? - paulus599 - 11-05-2011 09:54am
(11-05-2011 08:32am)LRX Wrote: I'll never understand people who don't just save up. If you can't afford it you shouldn't have it.
Sorry, but I think that is rubbish. I am at a stage in my life where I can afford to purchase this car outright. It certainly hasn't been like that for most of my adult life though, so I can quite understand why people have to look at other options.
Using the same logic, does this mean that the people who make and agree with statements like that have never had a mortgage?
RE: Evoque - Guaranteed Minimum Future Value (GMFV)? - Ewok - 11-05-2011 10:26am
Agree with you Paulus599.
I reckon putting £50k cash down is a pretty inefficient use of capital. I bought my last few cars outright - but never again.
I just shove it in the stockmarket instead..... let the dividends cover the cost of the borrowing, and you can get capital growth on top.
Just my opinion of course.
RE: Evoque - Guaranteed Minimum Future Value (GMFV)? - vision*R - 11-05-2011 10:47am
Looking at the car list of some forum members, then yes, I can see why you would say such things. Good for you by the way!
I can buy the car outright but for my one-man company it's much more efficient to do long-term renting.
Even though it costs money it saves me more on taxes and in the meantime I can do other things with the money.
RE: Evoque - Guaranteed Minimum Future Value (GMFV)? - vinda - 11-05-2011 11:05am
Personally I wouldn't go On a pcp. Currently on zero % interest on type r. If only the evoque will have one!!
RE: Evoque - Guaranteed Minimum Future Value (GMFV)? - LRX - 11-05-2011 11:07am
(11-05-2011 09:54am)paulus599 Wrote: so I can quite understand why people have to look at other options.
The other option is a Ford Focus.
This is the first time I'll have bought a decent car, the reason being I can now afford one. I'll never, ever understand the logic of someone not being able to afford, for example, an Evoque and so getting a loan/PCP where they end-up actually paying a lot more.
I would argue a mortgage is slightly different as, at the end of my 20yr mortgage, my property will have gone up in value and cover the cost of the interest plus more. In that way, my house is an investment. A car is a luxury purchase.