Paying PCP Payment

The_Rainmaker

Make model and engine would be good.  On your figures with an 18% discount via Drive the Deal (and even with the fairly crap 4.9% APR Land Rover rate) you might find a new one is cheaper.

I reckon your dealer is wanting £777/month for 36 months?

The_Rainmaker

Here is a lease deal

Grumpy_chap

According to Land Rover website, the £1,500 deposit contribution and 10.9% APR is available for qualifying vehicles on PCP or HP.  If the OP chose HP, then the ability to pay down quickly with a more favourable loan rate is more likely.  

Has the OP considered that, having taken a loan for £37.5k to buy the car, can they also then get the bank loan for £37.5k in quick succession to pay down the original loan?  The proposal may seem like a good idea to the OP, but may not be seen the same way by a bank asked to advance the second loan.

Also, there are many 1 year old (and newer) Land Rovers listed online below £40k (starting "worth" advised by the OP before £2.5k discount including a 20-plate with 10 miles on at £35k - probably with some negotiating room plus the finance incentive also available.  Obviously, the OP may have found a different model or spec of vehicle so the price paid may still be a good deal.

On brand new, Land Rover are offering similar deposit incentive plus 3.9% APR.  Could be better buy than 1 year old used?

Scrapit

Don't pcp an old car.