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  • FIRST POST
    • Rjhsteel
    • By Rjhsteel 15th Apr 19, 3:21 PM
    • 114Posts
    • 11Thanks
    Rjhsteel
    Range Rover Evoque PCP v Lease v Bank loan
    • #1
    • 15th Apr 19, 3:21 PM
    Range Rover Evoque PCP v Lease v Bank loan 15th Apr 19 at 3:21 PM
    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?
Page 1
    • foxy-stoat
    • By foxy-stoat 15th Apr 19, 3:27 PM
    • 3,983 Posts
    • 2,317 Thanks
    foxy-stoat
    • #2
    • 15th Apr 19, 3:27 PM
    • #2
    • 15th Apr 19, 3:27 PM
    Take out a personal loan, and buy something other than the Evoque.
    • Ebe Scrooge
    • By Ebe Scrooge 15th Apr 19, 3:29 PM
    • 4,207 Posts
    • 3,675 Thanks
    Ebe Scrooge
    • #3
    • 15th Apr 19, 3:29 PM
    • #3
    • 15th Apr 19, 3:29 PM
    Thinking of getting a Range Rover Evoque but not such which option will work out cheaper in the long term.
    Originally posted by Rjhsteel
    Is it even possible to use the words "Range Rover" and "cheap" in the same sentence ?
    I may not know much about art, but I know what I like.
    • parking_question_chap
    • By parking_question_chap 15th Apr 19, 3:51 PM
    • 2,137 Posts
    • 2,352 Thanks
    parking_question_chap
    • #4
    • 15th Apr 19, 3:51 PM
    • #4
    • 15th Apr 19, 3:51 PM
    Is it even possible to use the words "Range Rover" and "cheap" in the same sentence ?
    Originally posted by Ebe Scrooge

    Sure it is.

    Buying cheap breakdown cover is never advisable if you drive a Range Rover.
    • AdrianC
    • By AdrianC 15th Apr 19, 4:06 PM
    • 21,875 Posts
    • 20,600 Thanks
    AdrianC
    • #5
    • 15th Apr 19, 4:06 PM
    • #5
    • 15th Apr 19, 4:06 PM
    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...
    Originally posted by Rjhsteel
    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
    • By Hasbeen 15th Apr 19, 4:06 PM
    • 1,388 Posts
    • 1,032 Thanks
    Hasbeen
    • #6
    • 15th Apr 19, 4:06 PM
    • #6
    • 15th Apr 19, 4:06 PM
    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?
    Originally posted by Rjhsteel
    Your thinking about buying a Range Rover Evoque ?

    Ensure you have sufficient breakdown cover, and throw all the rest of your money at it in repairs
    • facade
    • By facade 15th Apr 19, 5:32 PM
    • 3,738 Posts
    • 1,969 Thanks
    facade
    • #7
    • 15th Apr 19, 5:32 PM
    • #7
    • 15th Apr 19, 5:32 PM
    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 want to go back to The Olden Days, when every single thing that I can think of was better.....

    (except air quality and Medical Science )
    • Rjhsteel
    • By Rjhsteel 16th Apr 19, 9:44 AM
    • 114 Posts
    • 11 Thanks
    Rjhsteel
    • #8
    • 16th Apr 19, 9:44 AM
    • #8
    • 16th Apr 19, 9:44 AM
    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.
    Originally posted by facade
    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
    • By LandyAndy 16th Apr 19, 9:52 AM
    • 24,667 Posts
    • 51,988 Thanks
    LandyAndy
    • #9
    • 16th Apr 19, 9:52 AM
    • #9
    • 16th Apr 19, 9:52 AM
    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?
    Originally posted by Rjhsteel
    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
    • By Rjhsteel 16th Apr 19, 9:55 AM
    • 114 Posts
    • 11 Thanks
    Rjhsteel
    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.
    Originally posted by LandyAndy
    You have personal experience of this as I've seen reviews saying they had no problems with it even after 20k miles.
    • agrinnall
    • By agrinnall 16th Apr 19, 11:49 AM
    • 22,397 Posts
    • 18,412 Thanks
    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.
    • Rjhsteel
    • By Rjhsteel 16th Apr 19, 12:07 PM
    • 114 Posts
    • 11 Thanks
    Rjhsteel
    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.
    Originally posted by agrinnall
    Yeah, that's a bit worrying but wouldn't a lease cover these costs?
    • RichardD1970
    • By RichardD1970 16th Apr 19, 12:25 PM
    • 3,192 Posts
    • 4,801 Thanks
    RichardD1970
    I'm assuming you will be looking at the New Evoque as opposed to the older model.

    This is an almost completely new car, on a new platform, with very little held over form the old one.

    Only time will tell on the overall reliability but all the reviews I've read so far are positive.
    • benbay001
    • By benbay001 16th Apr 19, 12:30 PM
    • 10 Posts
    • 4 Thanks
    benbay001
    So helpful! Do you know my new personal circumstances?

    Idiot.
    Originally posted by Rjhsteel

    We are currently remortgaging and will have some spare cash to pay off these debts.

    After or if we receive the credit agreements, we are planning on writing to each individual creditor with a Full and final offer.
    Originally posted by Rjhsteel

    You new circumstances are in your post history. You rolled your old debt into your house.
    2 months later you want to get more debt.
    • Arklight
    • By Arklight 16th Apr 19, 12:31 PM
    • 2,217 Posts
    • 3,383 Thanks
    Arklight
    You have personal experience of this as I've seen reviews saying they had no problems with it even after 20k miles.
    Originally posted by Rjhsteel
    There are rumours on owners' forums that some Range Rovers can go an entire 20,000 miles without a major failure, but do you feel lucky, OP? Do ya?

    I don't know if this is the forum for you anyway. This is a money saving site. Luxury cars, like Range Rovers, are designed to be sold to people with more money than sense who want to show off, play with the shiny gadgets, and then get a new shiny luxury car to impress themselves with as soon as their original one is considered "old" - which for them is about 3 years max.

    That's the lifespan Tata build to, that's the customers they make them for.

    People who buy them at 3 years old look at the enormous depreciation and assume they are getting a bargain and will still get to show off quite a bit with a new-ish car quality car. Usually the first garage bill disabuses them of that notion.
    • almillar
    • By almillar 16th Apr 19, 12:34 PM
    • 7,822 Posts
    • 3,211 Thanks
    almillar
    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.
    Equity. This means you've paid more than you should have over the years, and the GFV was too low. And negative equity means the car is worth less than the GFV, so you haven't been paying enough over the years. Great, you got a bargain, walk away!!
    You're trying to decide between PCP and Lease, and you've said you don't want to take advantage of the PCP - the option to buy at the end. Therefore you can simply look at the deals on offer, compare mileage, deposit size, term, and you're sortof judging both equally. Leases can include maitenance at a cost. Do NOT count on having equity at the end of any deal, it's not free money, it's just money you've already spent.

    Is it even possible to use the words "Range Rover" and "cheap" in the same sentence ?
    The word used was 'cheaper'.
    • motorguy
    • By motorguy 16th Apr 19, 12:35 PM
    • 18,588 Posts
    • 11,444 Thanks
    motorguy
    So helpful! Do you know my new personal circumstances?

    Idiot.
    Originally posted by Rjhsteel
    So your 'new personal circumstances' are you've kicked the can down the road a bit by remortgaging your house to pay off your creditors?

    And now just two months later you want to take on ,'s more debt on top of the debt you've just rolled in to your mortgage?

    "We have normality. I repeat, we have normality. Anything you still can't cope with is therefore your own problem."
    • Arklight
    • By Arklight 16th Apr 19, 12:37 PM
    • 2,217 Posts
    • 3,383 Thanks
    Arklight
    So your 'new personal circumstances' are you've kicked the can down the road a bit by remortgaging your house to pay off your creditors?

    And now just two months later you want to take on ,'s more debt on top of the debt you've just rolled in to your mortgage?

    Originally posted by motorguy
    Tbf he is starting to sound more and more like an Evoque customer. If there are any JLR reps on here maybe they can PM him with his finance options.
    • Rjhsteel
    • By Rjhsteel 16th Apr 19, 12:52 PM
    • 114 Posts
    • 11 Thanks
    Rjhsteel
    You new circumstances are in your post history. You rolled your old debt into your house.
    2 months later you want to get more debt.
    Originally posted by benbay001
    Oh my god! Ha. Another idiot And I haven't come into money.....

    So quick to criticize....
    • Rjhsteel
    • By Rjhsteel 16th Apr 19, 12:54 PM
    • 114 Posts
    • 11 Thanks
    Rjhsteel
    So your 'new personal circumstances' are you've kicked the can down the road a bit by remortgaging your house to pay off your creditors?

    And now just two months later you want to take on ,'s more debt on top of the debt you've just rolled in to your mortgage?

    Originally posted by motorguy
    That's 3 on the idiot count so far....

    parking_question_chap
    benbay001
    motorguy
    Last edited by Rjhsteel; 16-04-2019 at 1:00 PM.
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