Range Rover Evoque PCP v Lease v Bank loan

Rjhsteel

DrEskimo wrote: »

Lets do the maths....

Evoque retails for £35,000 for the mid models and there are only small discounts of about £800, presumably because it is a new model.

On a PCP with £10k down, you are looking at 36 payments of £204, and a final payment of £21,782.

If we assume no equity, that is £13,218 in depreciation costs (£4,406) per year) and £3,800 in interest (£1,266 per year).

In contrast, a 2016 mid spec model will set you back about £20k, and 2013 models look to be worth around £13k, so lets say £10k trade?

With a personal loan over 36months at 6.9% (can get lower, but lets match the PCP), you are looking at 36 payments of £307.

Over the 3 years that's £10,000 depreciation (£3,333 per year) and just £1,052 in interest (£350 per year).

So are you honestly telling me, the 3yr old Evoque will set you back over £2,000 in repairs every year for 3 years.....? That's the only way the used model will end up costing you more....

Of course you could also spend a few grand more and buy from an Approved RR dealer and get their 2 year unlimited mile warranty too, so it's just a case of repairs in year three, or the cost of extending the warranty. Unless it's over £6k, you will be saving a fair bit of money....

Thanks DrEskimo

motorguy

Rjhsteel wrote: »

Thanks DrEskimo

I'm sure you'll be happy with your new [STRIKE]car[/STRIKE] debt.

Supersonos

LandyAndy wrote: »

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.

OP: any car may need repairing and, yes, a RR is going to be more expensive than some, but a lot cheaper than others.

Personally, I've had two Evoques, a Sport and now a Velar. None of them have had any problems at all.

All the Range Rovers I've had have been such an incredible joy to drive, I wouldn't hesitate to buy one (and in answer to your question, I've bought my current one with a car loan from Halifax and would recommend).

Scrapit

Supersonos wrote: »

OP: any car may need repairing and, yes, a RR is going to be more expensive than some, but a lot cheaper than others.

Personally, I've had two Evoques, a Sport and now a Velar. None of them have had any problems at all.

All the Range Rovers I've had have been such an incredible joy to drive, I wouldn't hesitate to buy one (and in answer to your question, I've bought my current one with a car loan from Halifax and would recommend).

You obviously go through em quickly too, if you have to have them bump them on sooner rather than later.

Supersonos

Scrapit wrote: »

You obviously go through em quickly too, if you have to have them bump them on sooner rather than later.

That's over about 12 years. Or actually about 15 years if you add up how long I'll probably have the Velar. I wouldn't say that's going "through em quickly" per se. Probably around average.

And another point, only one of those was brand new (my first Evoque in 2011).

Scrapit

Supersonos wrote: »

That's over about 12 years. Or actually about 15 years if you add up how long I'll probably have the Velar. I wouldn't say that's going "through em quickly" per se. Probably around average.

And another point, only one of those was brand new (my first Evoque in 2011).

You'd be foolish to try and convince me on how reliable any land rover product is;)

Supersonos

Scrapit wrote: »

You'd be foolish to try and convince me on how reliable any land rover product is;)

I didn't come here to try and convince you of anything. I was simply giving the OP the benefit of my experience of owning several Range Rovers, two of which were Evoques.

Apologies if my positive experiences don't fit with yours.

Scrapit

Supersonos wrote: »

I didn't come here to try and convince you of anything. I was simply giving the OP the benefit of my experience of owning several Range Rovers, two of which were Evoques.

Apologies if my positive experiences don't fit with yours.

No need to apologise, you were lucky. Hence the position of land rover on reliability (shouldn't that read unrealiability?) Charts.;)

Gwendo40

As an alternative strategy why don't you just buy (with cash) a car you can afford, then take out a loan to pay for counselling to try and overcome your feelings of inferiority and failure that result in you needing to be seen driving around in a car that you can't afford?

Supersonos

Gwendo40 wrote: »

As an alternative strategy why don't you just buy (with cash) a car you can afford, then take out a loan to pay for counselling to try and overcome your feelings of inferiority and failure that result in you needing to be seen driving around in a car that you can't afford?

Would you say the same to anyone with a mortgage? Have a go at them for living in a house they "can't afford"?

Being sensible with money is important, but that doesn't automatically exclude borrowing. Life is for living. There's no point in being the richest person in the graveyard.