New car finance

RDG

pheonixrising21 wrote: »

Just thought I would point out that this is not true unless you walk away from the deal at the end of the term.

3) Hand in the keys and walk away. Here is where there is a mileage charge. If you go over the mileage you state at the start they will charge you so many pence per mile. I've seen it range from 4p to 19p

It was this I was refering to.

OP £25k in 3 years is very optimistic. There are a lot of these that were brought when released on lease and PCP deals which will come onto the market in about 2 years time this will dilute the second hand value significantly. I would say 50% of original price will be the most you will achieve but that depends upon the spec and the reliability of the model long term as already stated LR dont have a good reputation.

KittenKaboodle

Thank you both for your very helpful posts! Just to clarify I wouldn't want this option as I'd want to make the final payment, have no more liability and just own my car outright. Driving round in a 3 year old landrover is not bad - I wouldn't be concerned about getting a brand new one every 2 years (I know these plans are designed to enable this.)

My boyfriends concern is finding the balloon payment - he wouldn't want to take another loan at that point which could be very high in comparison to what the car is then worth? I'm not sure what the answer is here other than save it up (on top of 757pm :eek:)

Had no idea they were so unreliable either! Looked at BMW x5 too but nothing can compare on looks.

RDG

The balloon payments are what cause people to trade their cars in at the end of the term and thats what the dealers want. If you want to own the car at the end of the term you are better looking at a deal which doesnt involve a ballon payment but then the monthly repayments will be higher.

If you really want an Evoque then i think just keeping it for 3 years then trading it in (you dont have to do it with an LR dealer) is better than planning to keep it as for the 3 years you will own it it will be under warranty and therefore hopefully wont cost to much to maintain. This will at least protect you from the unreliability issues. Thats why I suggested thinking about leasing as that would have the same effect just without the trade in at the end.