- You are currently viewing DISCO5.CO.UK as a guest - Register to take part or Log In
-
- How do you pay for your Disco?45 Votes
-
PCP
42%/19
-
HP
6%/3
-
Bank loan
6%/3
-
Cash
44%/20
-
- Darras
- Member Since: 16 May 2020
- Location: Newcastle
- Posts: 764
How do you pay for your Disco?
Curiosity, but how do people pay for their Disco? I am old school, if I don’t have the cash, I don’t buy, but I appreciate that’s not the way of the world. I just would hate paying interest on anything.
-
-
- ThatMartinChap
- Member Since: 04 May 2021
- Location: Berkshire
- Posts: 49
-
I'm fully with you on the cash payment side. I have done that for the past few cars as you can save a bundle on interest charges.
However, this time around I opted for PCP since we needed our cash for another project. However, I plan to buy-out the PCP as soon as practical. (in theory at least
)
D5 D300 R-Dynamic HSE MY21
-
- Darras
- Member Since: 16 May 2020
- Location: Newcastle
- Posts: 764
-
Yes, that’s a good idea.
I tend to think I go about with blinkers on and assume very one does the same as me. That said, with the tribe at Uni, I haemorrhage money like there’s no tomorrow.
-
- Equilibrium
- Member Since: 26 Feb 2019
- Location: Bristol
- Posts: 754
-
I PCP my cars as the “cash “ is better used elsewhere for my risk appetite.
It’s historically been a very straightforward exercise to generate far more growth in investments than the amount that a PCP accrues in interest charges over the term.
To me, having tens of thousands of pounds tied up in a vehicle is equivalent to buying a share or fund that I am certain is going to haemorrhage value. I’d rather place those pounds in a bunch of shares or funds that I feel will increase in value.
I do, however, generally buy my cars at the end of the PCP term, using the growth from the invested funds. So that puts me with a foot in the cash camp. But by that point the value is lower and the depreciation curve flattening.
Drives: 2020 MY20 HSE Luxury SDV6 in Eiger Grey/Glacier
Departed: 2019 MY20 HSE Luxury SDV6 in Carpathian Grey/Glacier, 440i, 320d, Toyotas, Mondeo, Citroen BX amongst others
-
- Craigp
- Member Since: 09 Nov 2016
- Location: Hull
- Posts: 690
Yes also cash. My shares seem to depreciate quicker than the value of my car.
-
- FastLaneJB
- Member Since: 29 May 2021
- Location: Bedfordshire
- Posts: 189
-
Just putting this out there but you're probably not getting as good a deal as you would if you purchased it on PCP in terms of discount. You can always then pay it straight off if you want to avoid interest yet keeping those discounts. I believe this also helps with your credit score if you care about that or need to bump it up a bit.
Depends on your age I guess and if you need to get a mortgage but not many people can afford to buy a house outright. Even as you move away from Kings Landing (London), past Winterfell (Manchester) to north of the wall (Scotland) where the wildlings live they are still getting pretty expensive.
By the way just playing with my Scottish friends
To be honest if work hadn't dragged me towards London over the years I plan to move up north to retire I think. Lovely part of the world and you get so much more bang for your buck in property.
-
- Darras
- Member Since: 16 May 2020
- Location: Newcastle
- Posts: 764
-
Yep, even we, the cash buyers cottoned onto the PCP discounts ages ago. Last time I had the loan for less than a day. I got charged the princely sum of £5 odd for interest upon cancelling. Not much discounts if any on the go atm.
Oh, don’t think you’ll get a bargain in Scotland. The house prices in all have gone stratospheric the further north you go. 50% plus more than the asking price in some cases. Seems people want isolation and covid safety now a lot work from home.
-
- FastLaneJB
- Member Since: 29 May 2021
- Location: Bedfordshire
- Posts: 189
-
You can get discounts at the moment. You won’t get much if anything if you go direct to your dealer only currently because frankly they are selling more cars than they can build at the moment. However if you go on Carwow you’ll still get a nice discount because they are being pitched against other dealers to get your business. Maybe it’s less than might have got before but it seemed reasonable to me considering the current climate.
Yeah have to see what happens on house prices as a whole once things all settles back down. We moved a bit more south for work reasons only that might not have been needed now. Hey ho, not like anyone could have predicted this.
-
- Keith
- Member Since: 24 May 2021
- Location: Scotland
- Posts: 81
-
Hello
When i change to my D5, i was offered a £1350 dealer contribution if i took the finance, which we did, made 1 payment, then paid it off....
-
- Darras
- Member Since: 16 May 2020
- Location: Newcastle
- Posts: 764
-
Don’t get me wrong, any price reduction is worth having, just I managed to get about 20% off list price with one thing and another, those scale of deals aren’t available.
Yes, the dealers like you to pay one month, as LR then don’t clawback the incentive from them. it’s also touted as being a way to ensure you can resort to LR Blackhorse Finance if you have a problem with the vehicle or reject it, but that can be a double edged sword, particularly if they don’t agree with you.
I am just sitting tight. The mileage the car has just now doesn’t justify changing. The lack of discounts is discouraging, although in time that will change. I did buy a new car for one of the kids, not a LR. I was getting fed up with the bleating when their present car went wrong and the apparent lack of funds because they are a student! The caveat was they take the car to Uni with all their rubbish, so I don’t have to anymore. When ever I was going down with the D5, I was getting superior snide looks from eco friendly parent of other students. It was like I farted in a crowded room!
-
- MAPMA
- Member Since: 22 Jun 2021
- Location: Manchester
- Posts: 45
-
I got £6300ish discount through carwow on my order, 9.4% or whatever the percentage it worked out. That includes a finance deposit contribution of £1250 through PCP.
-
- FastLaneJB
- Member Since: 29 May 2021
- Location: Bedfordshire
- Posts: 189
-
That's a good deal, I ordered last week and best I could get was around 7% though I think they know as they cannot keep up with demand they don't have to discount as much. Especially seeing as they've shutdown the factory that builds them now due to lack of parts.
I guess in reverse will hopefully get more on my trade in so it'll all workout just fine in the end. Technically I could trade that in earlier and just share the wife's car, at the moment we don't even really need two due to both working from home. Just need to guess when might be the right time to do it.
Not got a date yet but just hoping if I'm a good boy I'll get it before Xmas
I'm not in a huge rush technically but the heart wants it yesterday
-
- Huttopia
- Member Since: 21 Mar 2021
- Location: Worcestershire
- Posts: 9
-
I recently bought via PCP, only because of my risk appetite and a niggle about large engined SUV values falling off a cliff at some point - the MGV is a little bit of a safety net. Probably daft, but made me feel comfortable about the purchase.
-
- FastLaneJB
- Member Since: 29 May 2021
- Location: Bedfordshire
- Posts: 189
-
Yes, I'm in the same mind as you, we are in that transition phase between ICE and Electric Cars currently so it's hard to know what might occur. I think for now should be fine and in my mind Electric Cars while they seem to keep their value well, feels a bit riskier at the moment. I noticed for instance Audi are rumoured to be updating the e-tron from 249 miles to 373 miles next year due to efficiency improvements. That's a massive change and in my head would make the older e-trons worth far less.
Similarly, you get an electric car now and say they take 40 - 60 minutes to fast charge. If one comes out that's now charging fully in 10 - 20 minutes I feel like that's also a game-changer type improvement that could devalue those older cars. At least with ICE it doesn't progress much these days, it's viable until the government makes it not.
-
- You cannot create new threads in this forum
You cannot reply to threads in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
All times are GMT
DISCO5.CO.UK © 2016 - 2024 Futuranet Ltd
DISCO5.CO.UK is independent and not affiliated to Jaguar Land Rover.
