Range Rover Evoque PCP v Lease v Bank loan

Rjhsteel

Need some advice.
Thinking of getting a Range Rover Evoque but not such which option will work out cheaper in the long term.

With a lease you pay a deposit, a monthly amount then hand the car back at the end.

With PCP, you pay a deposit again and a higher amount but have the chance of owning the car at the end...which to be honest I won't do. But I understand if the value is higher than first worked out, you can use that deposit towards another PCP and basically continue the deal.

Or buy second hand and get a bank loan.

What's best?

foxy-stoat

Take out a personal loan, and buy something other than the Evoque.

Ebe_Scrooge

Rjhsteel wrote: »

Thinking of getting a Range Rover Evoque but not such which option will work out cheaper in the long term.

Is it even possible to use the words "Range Rover" and "cheap" in the same sentence ?

parking_question_chap

Ebe_Scrooge wrote: »

Is it even possible to use the words "Range Rover" and "cheap" in the same sentence ?

Sure it is.

Buying cheap breakdown cover is never advisable if you drive a Range Rover.

AdrianC

Rjhsteel wrote: »

Thinking of getting a Range Rover Evoque but not such which option will work out cheaper in the long term.
...
With PCP ... I understand if the value is higher than first worked out...

And that's precisely why it's impossible to give an exact answer. Because you have no idea what future values are going to do. You can guess, sure. The people setting PCP GMFVs have already done that. Maybe they're right, maybe they're not.

Hasbeen

Rjhsteel wrote: »

Need some advice.
Thinking of getting a Range Rover Evoque but not such which option will work out cheaper in the long term.

With a lease you pay a deposit, a monthly amount then hand the car back at the end.

With PCP, you pay a deposit again and a higher amount but have the chance of owning the car at the end...which to be honest I won't do. But I understand if the value is higher than first worked out, you can use that deposit towards another PCP and basically continue the deal.

Or buy second hand and get a bank loan.

What's best?

Your thinking about buying a Range Rover Evoque ?:rotfl::rotfl:

Ensure you have sufficient breakdown cover, and throw all the rest of your money at it in repairs:)

facade

You don't want to be stuck with the repair bills on a Rangerover when the warranty runs out, so that rules out second hand.


So it is down to which works out cheaper, the lease or the PCP (with handback- don't even consider buying it). Do the sums on what you actually pay out, assume there won't be any realisable positive equity in the PCP deal.

Rjhsteel

facade wrote: »

You don't want to be stuck with the repair bills on a Rangerover when the warranty runs out, so that rules out second hand.


So it is down to which works out cheaper, the lease or the PCP (with handback- don't even consider buying it). Do the sums on what you actually pay out, assume there won't be any realisable positive equity in the PCP deal.

I was hoping there might be some equity left in the car which I could use for a deposit for a new car/PCP.

If not then a lease the best way?

LandyAndy

Rjhsteel wrote: »

I was hoping there might be some equity left in the car which I could use for a deposit for a new car/PCP.

If not then a lease the best way?

There is hardly ever a significant amount of 'equity' in a vehicle at the end of a PCP, certainly not enough to constitute a sensible deposit.

But I would reiterate what others have said. Don't get an Evoque, or any other LR product, unless you can put up with it being regularly repaired.

Rjhsteel

LandyAndy wrote: »

There is hardly ever a significant amount of 'equity' in a vehicle at the end of a PCP, certainly not enough to constitute a sensible deposit.

But I would reiterate what others have said. Don't get an Evoque, or any other LR product, unless you can put up with it being regularly repaired.

You have personal experience of this as I've seen reviews saying they had no problems with it even after 20k miles.

agrinnall

https://www.whatcar.com/news/2018-what-car-reliability-survey/n17821


Evoque is 23rd out of 25 Large and Luxury SUVs.


The Range Rover Evoque isn't as bad as its larger stablemate; 45% of cars had a problem. The exhaust (15%) was worst, then interior trim and engine and non- engine electrics (both 13%). Most remained driveable and two-thirds were fixed in less than a week, but a few owners paid up to £1500.