JAYBOY wrote:

Fat Wolfie wrote:

Aja500 - I have 2018 on order too, scheduled for March delivery.

However the contract I have with the dealer contains a clause that I can’t sell it within 180 days of delivery....not sure what the penalty is, as I’ve no intention of selling, but might be worth looking at the paperwork you signed...

Did you get a discount

I wouldn’t be surprised if the dealer has that listed with LR as a demonstrator as they have a specified time limit of keeping them before sale to the public and they attract a bigger discount from LR.

I only got the discount because I placed they order back in September before release - The dealer tells me they're not offering any discounts now on 2018MY

Fat Wolfie wrote:

Aja500 - I have 2018 on order too, scheduled for March delivery.

However the contract I have with the dealer contains a clause that I can’t sell it within 180 days of delivery....not sure what the penalty is, as I’ve no intention of selling, but might be worth looking at the paperwork you signed...

I’d like to see how that clause is worded and wonder how it could be enforced (just academic interest )

It's probably there as a deterrent - I very much doubt that is enforceable - plus people's circumstances change. I very much doubt a court would find favour with that clause unless you were making a habitat of buying and selling on, and it was obvious what the purchase motivations were. 2021 L405 Vogue SE 4.4 V8 DIESEL ~ #17

Carwow are offering 9% off brand new SDV8 AB's 2016 SDV8 Autobiography
And several others previously.

Pretty much all cars lose around 35% in year 1, then 15% of list in year 2 and a further 10% of list in year 3.

The problem is 35% of £100,000 is a big chunk of cash.



There are exceptions when you can't get a new one for months and people know that even if they pay a premium they will get a premium when the sell too.

But looking at L405 prices a 5 year old one is still around 50-55% of list, so still doing incredibly well.

Just don't jump ship after 12 month on a car that is about to be updated, always going to hurt. Porsche 911 (996)
2015 BMW 5 Series Touring
Not got a LR of any kind at the mo, and got itchy feet.

Seems to me that, if you can afford to do it, buy a 9-12 month old FFRR then change it again for another 9-12m one when it's just over 2 years old and still under original 3 yr JLR warranty.

Trouble is, I can't afford to do that..........  2021 D350 Fifty Edition - Carpathian Grey
2017 4.4 SDV8 Autobiography (2021-2024) - Santorini Black
2012 4.4 TDV8 Westminster (2016-2021) - Santorini Black

That's what I do 2016 SDV8 Autobiography
And several others previously.

^
I reckon that replacing it every 18-24mths would cost about £15-20k which doesn't sound that bad

Need to get my man maths hat on I think (once kids have left home).............  2021 D350 Fifty Edition - Carpathian Grey
2017 4.4 SDV8 Autobiography (2021-2024) - Santorini Black
2012 4.4 TDV8 Westminster (2016-2021) - Santorini Black

Hi people, long time.
Thought I would resurrect an old thread now that my car is at the end of the pcp finance.
Quick reminder 3 year old 3.0 AB £50k purchase price with a GFV of £38k after 2 years. Best offer part exchange is £28k my guess is that someone at the finance company a brick.
Doing a deal on a 3 year old 4.4 AB with 20k less miles than the original £41.5k (with £6.5k discount ) with a GFV over three years of £17k.
This is exactly why I use PCP.

Careful, you’ll have the “I only purchase for cash” brigade after you!

2 years into a 4 year agreement here and I’m pretty sure that I’ll be faced with a pretty similar situation in 2 years as well.

I am a massive fan of finance for exactly this reason.


However, one thing I will say, is depends what the rate was on the finance, the rate may have covered that £10k shortfall and then some, which is how many PCP agreements are set up in the UK.

I'm in discussions with someone else about starting a car funding company.
We will be able to fund private sales for the vendor/purchaser which can save a fortune on its own.
But we will be based on a single set up fee of £250 rather than getting a take of the APR.

For someone without a poor credit history it means we can off the above deal at around 3.5% apr.
Considering LR, BMW, Audi etc. are all around the 12.9% apr mark at the moment that is a huge difference.

That would have brought the above car in at around £380 a month with a 5% deposit (£2500) over the 36 month period.
LR current used rate would be closer to £700 a month.


I think there needs to be some regulation going forward as to what apr rate is charged (compared to base and lending outside the car industry) and how Guaranteed Final Values are worded. and how commission is paid based on apr rate.


"We guarantee your car will be worth £38000 at the end of the term." is really ""If you want to use us you will have to give us another £38000 to keep it." Porsche 911 (996)
2015 BMW 5 Series Touring
Not got a LR of any kind at the mo, and got itchy feet.

I quite agree, the pcp agreement interest rate was 10,9 so I paid £17k which is £5k less than the depreciation.

That’s odd. The two that I’ve has have been at 6.9%, each with a £3,000 and £4,000 “deposit contribution” and the current LR PCP rates available are at 5.9%.

https://www.landrover.co.uk/vehicles/range...chase.html