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Home > General > JLR to cut back production |
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Tigger Member Since: 30 Mar 2011 Location: L15KRD Posts: 2555 |
That would be finance with a balloon payment. Where PCP works so well is the manufacturer is guaranteeing to take back the car and settle the balloon payment if you don’t want to pay it in order to buy the car outright. If the car is worth less than the balloon payment (if the bottom were to fall out of the market, for instance), then it’s not the buyer’s problem. If it’s worth more than the balloon payment, then the dealer can offer you that money towards a PX. It’s a Heads you win, Tails they lose situation! What is really good with the LR scheme is that they are so keen to get people into one (and detached from the idea of buying outright) that they give substantial cash incentives to do so My last new D4 netted £4,000 over and above normal discounts, while the FF was around the same. Free money, always very helpful |
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23rd Jan 2018 7:12 pm |
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Yorky Bob Member Since: 28 Apr 2015 Location: Yorkshire Posts: 4561 |
Buyer beware is my mantra and if it sounds too good it is not. http://uk.businessinsider.com/uk-car-finan...ley-2017-7 FL2 MY10 TD4 GS traded in at 2 years FL2 MY13 TD4 GS Current |
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23rd Jan 2018 9:04 pm |
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Past master Member Since: 30 Jun 2010 Location: Isle of Ely Posts: 2710 |
Just read the linked article and can't see a huge problem for the owner. First, the article itself is suspect, as it compares the used cars coming onto the market with the current sales of new cars, but doesn't take into account current sales of used cars, so it's not comparing like for like. OK more used cars will come onto the market in the next few years, but if you subtract the number of similar cars coming onto the market at the moment there probably isn't a great difference. Second, the article is suggesting that used prices will drop and the finance companies will take the hit. If that's true, then PCP works in favour of the motorist - the amount of the balloon payment is fixed at the outset, so if the value of the car is less than expected, he can just walk away with a profit.
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23rd Jan 2018 10:19 pm |
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Tradewind 35 Member Since: 04 Dec 2012 Location: Cornwall Posts: 441 |
Explanations for anything given by car company executives must be regarded as suspect - car industry has history of faulty ethical compass contagion at the top which JLR bosses are not immune from - safety scandals, re-call scandals, emissions scandals - decades of falsehood and mismanagement across many companies.
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24th Jan 2018 8:30 am |
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Tigger Member Since: 30 Mar 2011 Location: L15KRD Posts: 2555 |
What evidence is there that the Range Rover is “getting mullered by proper premium marques”? And what would you consider those “proper premium marques” to be? |
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24th Jan 2018 9:01 am |
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dorsetfreelander Member Since: 20 Jul 2013 Location: Dorset Posts: 4354 |
My neighbour who always had a Mercedes was telling me that last year he went into the dealers looking for a approved used replacement. He found a car that he liked and when he asked how much they wanted they only talked in terms of £x/month and wouldn't give him a cash price. He always paid cash in the past so threatened to walk out - which is eventually what happened. 3 x FL1 2 manual + 1 auto
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24th Jan 2018 9:29 am |
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IanMetro Member Since: 11 Sep 2017 Location: Somerset BS21 Posts: 3111 |
[quote="Tradewind 35" The top end Range Rover selling at stratospheric prices is getting mullered by proper premium marques plundering sales with their own super luxury SUVs.
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24th Jan 2018 10:29 am |
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MartynB Member Since: 08 Aug 2011 Location: Currently Rootless ! Posts: 1777 |
I don’t think it’s an engineering problem that’s flattening the industry , it’s a marketing problem , selling to “sub prime buyers”. Paying Xhundred and 99 pounds a month is great if the buyer can afford it . I’ve got a relative who works in the county courts, she sees the other side of upsold consumer credit on a daily basis . One day this will come back to bite the motor finance companies in the arse - perhaps the next big mis-selling reclaim 2009 GS Auto Zermatt Silver - Sold June 21 after 10 years of ownership
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24th Jan 2018 11:19 am |
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Largered Member Since: 10 Jul 2016 Location: UK Posts: 1978 |
I agree. I have always paid for my vehicles ....OUTRIGHT !!
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24th Jan 2018 11:57 am |
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tenet Member Since: 23 Jul 2009 Location: cotswolds Posts: 1081 |
I'm In - will end up meaning I'm In the Censored !
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24th Jan 2018 12:42 pm |
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Yorky Bob Member Since: 28 Apr 2015 Location: Yorkshire Posts: 4561 |
but is there a future FL2 MY10 TD4 GS traded in at 2 years
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24th Jan 2018 1:04 pm |
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Tigger Member Since: 30 Mar 2011 Location: L15KRD Posts: 2555 |
Virtuous that it might sound paying cash, the car industry would grind to a halt overnight if it were to rely on cash purchasers! I also don’t see too much of a difference between wasting money on finance, or wasting it on maintenance At least Finance payments are predictable
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24th Jan 2018 1:06 pm |
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Yorky Bob Member Since: 28 Apr 2015 Location: Yorkshire Posts: 4561 |
So that will be the pension funds you put your money in with charges then, I think we have done that one with Endowment mis-selling . FL2 MY10 TD4 GS traded in at 2 years
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24th Jan 2018 1:16 pm |
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MartynB Member Since: 08 Aug 2011 Location: Currently Rootless ! Posts: 1777 |
The trick is don’t go out to lease a family hatchback and get sold an Audi RS3 I’m supposed to be helping my lad look for a car. However , apparently I’m an old git who would pick newer low mileage “ POV Spec “ to a budget ,rather than buying with my heart and worrying about cash flow later . 2009 GS Auto Zermatt Silver - Sold June 21 after 10 years of ownership 2016 Subaru Outback SE 2.0 diesel SE Premium Lineartronic Sold 2024 after 8 years and 80k miles . Best Car I ever owned ! 2023 Toyota Hilux invincible X 2.8 Auto . |
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24th Jan 2018 1:22 pm |
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