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aja500

Member Since: 15 Oct 2017
Location: South East
Posts: 826

2019 Range Rover Autobiography 5.0 SC V8 Aruba

Phoenix wrote:
Well, like most premium manufacturers, they have the 'old money' who will buy as they always have, with their earned or inherited income, on their own schedule, come hell or high water.
Finance is generally aimed at those aspirational purchasers or those who can (for example) afford a RRS but are tempted by the FFRR parked next to it in the showroom and just need a bit of a good finance deal to tip them over into aspirational territory. JLR would be foolish to not offer similar terms to other manufacturers they are competing against, they need to be on a level playing field for those that want to buy into the brand and it's values.

That's how I see it and experience it on a daily basis, the market may well be changing - I'm not in sales so not exposed daily to the changes in buying trends, the reality is, there are very positive feelings about the short to medium term future - no-one who works in the dealerships really cares beyond that, however, the 'message' from the directors is positive regarding their longer-term outlook.

You're right Phoenix, there will always be those who have the money and will buy regardless of cost, but it seems to me more and more nowadays, that car sales is all about monthly payments.

If you go to the Mercedes website and I think Land Rover (plus I'm sure many others), the three thing they want to know are:

What's your deposit?

What's your monthly budget?

Do you have a part exchange?

So, in terms of payment, it seems to be all about how much you have to spend each month.

It's also a common question from the salesman when you visit a dealership. "How much do you want to spend each month"?

I may be wrong, but I think the vast majority of sales are not driven by cash buyers. We live in a world of finance and monthly payments now, so I think this is still how most sales are funded, not old money.

In fact I'd say the majority of people I see driving the brand, don't look like old money at all, far from it, but then I may be wrong.

As for me, I'm not old money either (no such luck), I've just worked hard and been lucky.

4th Jul 2022 8:22pm

Philip

Member Since: 05 Jan 2010
Location: UK
Posts: 2592

2019 Range Rover Autobiography SDV8 Aintree Green

More than 9 out of 10 new cars in the UK are financed…

4th Jul 2022 8:33pm

aja500

Member Since: 15 Oct 2017
Location: South East
Posts: 826

Is that right Philip - To be honest, I can believe it.

4th Jul 2022 8:34pm

Philip

Member Since: 05 Jan 2010
Location: UK
Posts: 2592

91.8% of new private purchases last year, apparently:

https://uk.motor1.com/news/568054/consumer...rket-2021/

4th Jul 2022 8:39pm

Phoenix

Member Since: 16 May 2022
Location: Gone
Posts: 1631

When I was in a position to buy new cars, It always caused a step-change in the salespersons attitude and approach when I stated I'd pay in full on delivery, less the deposit. We've recently (as in June this year) sold close on £900k of new cars to non-finance customers, I know this because it's remarkable enough for the sales manager to comment on it, apparently it's usually around the £350k mark.
Nine out of ten cars on finance still leaves a significant number unfinanced - it'd be interesting to see a breakdown of the cost bands vs. % of finance.

4th Jul 2022 8:42pm

aja500

Member Since: 15 Oct 2017
Location: South East
Posts: 826

£900k to non-finance customers - Is that just in the month of June this year?

If the numbers are right, (and I don't doubt Philip's research stats), that would leave circa £8m in finance customers, or are you referring to a brand which is a significant exception to the rule.

4th Jul 2022 8:50pm

Phoenix

Member Since: 16 May 2022
Location: Gone
Posts: 1631

That is the non-finance sales of one dealership in June this year, as I previously mentioned, I don't work in sales so I'm not exposed to the numbers on a daily, weekly or monthly basis, I'm only aware of the above as the sales manager mentioned it due to the noteworthy nature of it. - i.e. nearly three times our non-finance monthly sales income.

Let's just say it's not a Ford or VWG dealership.

4th Jul 2022 9:00pm

aja500

Member Since: 15 Oct 2017
Location: South East
Posts: 826

Graypaul?

4th Jul 2022 9:53pm

Phoenix

Member Since: 16 May 2022
Location: Gone
Posts: 1631

I can't comment any further lest the company internetpolizei determine I'm an unauthorised spokesperson and giving away privileged information.
I will say that the 91% won't be shared equally between each and every dealership, PSA, Ford, Vauxhall & some VWG may have a larger percentage of finance customers. The Mrs. works as a warranty administrator for one of the above dealers, finance is the norm, not least because the kickbacks are so good that they discourage outright / high downpayment sales. Same goes for service plans - a massive moneyspinner for dealerships of all marques.

ETA, when I (briefly) worked in a Volvo dealership, they were launching a flexible lease programme, essentially, you could lease a smaller car for your commute, swap it out for an XC70/90 for your holidays, back to a S60 for the summer, change to a V90 to move one of the offspring to uni.....
Sound's great, but to my mind, they miss the key bit of having a car - personalisation. It will never be 'yours' every time you swap, there's no promise of getting the same car back in the future, even servicing was a swap to another car, leaving the 'old' one behind, so there's no 'bond', no time to fill the car with your stuff as it may be changed by you or Volvo at any point, it all seems to transient to me. I've lost touch with Volvo as a brand, but I don't hear much about the scheme from people I know at the local dealers.

4th Jul 2022 10:25pm

Bill

Member Since: 18 Nov 2017
Location: Essex / Normandy
Posts: 1245

Philip wrote:
More than 9 out of 10 new cars in the UK are financed…

I am sure the cheap finance has allowed the car manufacturers to push up the base price as on a monthly basis, the cars are affordable.

The new base prices being touted by all manufacturers, using the tight supply as back bone, is surely making the cash buyer think twice or three times. I certainly am.

There is a better than 50% chance of all of the following, inflation (already here) , depression, and interest hike which is unusual during a downturn.
Add in petrol currently at £2.00…. What will happen to big engine sales at £2.50 or £3.00 per litre next winter , if you can only afford a big car on the never never?
I can’t factor in other big markets for JLR Russia is closed. China ???? USA ? Euro land doesn’t look that clever looking forward.

All of these things makes me think the cocky salesman should enjoy the few lazy days he has, but soon he will have to start work again.

I used to be “in sales” and one of my principle suppliers , a very proud German, said to me, ‘’ I don’t know how you can prostitute yourself every day…’’That’s what selling a commodity is all about… being nice when you really don’t want to be, and remembering how bad it can get, so be sympathetic whilst the good times are here and getting the extra dollar out of the customer. Filters are in fact so good that in certain circumstances, when the ambient air is already polluted, a diesel car will tend to extract more particles from the air than it emits. Emissions Analytics worked with........etc etc

He who dies with the most toys wins...

5th Jul 2022 9:02am

LeunamRR

Member Since: 26 Oct 2013
Location: Torres Vedras
Posts: 75

My car is built! Proud owner of a P440e SE, Belgravia Green

7th Jul 2022 2:37pm

Yousif

Member Since: 26 May 2012
Location: Lakes
Posts: 37

2008 Range Rover Vogue TDV8 Buckingham Blue

Wow, you must be the first P440e, congratulations. Are you taking delivery in Portugal?

Those of us with PHEV orders will be getting twitchy again.

Please do let us know how it goes and we need a full review of the PHEV when you get it.

7th Jul 2022 3:00pm

7 CDB

Member Since: 18 Dec 2017
Location: Lincoln
Posts: 134

2017 Range Rover Vogue SE TDV6 Loire Blue

LeunamRR wrote:
My car is built!

Great news 👍👍

7th Jul 2022 3:41pm

LeunamRR

Member Since: 26 Oct 2013
Location: Torres Vedras
Posts: 75

Lets not launch the fire crackers to soon... It still has to find its way from Solihull to somewhere in Portugal! Proud owner of a P440e SE, Belgravia Green

7th Jul 2022 3:50pm

Martin2

Member Since: 15 Jun 2020
Location: Northamptonshire
Posts: 784

Hopefully it's completely built....

My neighbour (whose business mainly supplies JLR, so he gets very good lease rates) was going to order an L460, but the lead-time didn't really work from him so they offered him a cracking deal on the current/about to be replaced Sport P400e. It was built and due to be delivered about 4 weeks ago, but is still parked up at the factory waiting for parts. MY23 Panamera E-Hybrid
MY19 SDV8 Autobiography - Sold

7th Jul 2022 4:11pm

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