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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 2
    • Rjhsteel
    • By Rjhsteel 16th Apr 19, 12:56 PM
    • 114 Posts
    • 11 Thanks
    Rjhsteel
    I'm not explaining my personal circumstances as to why I have come into more money, but you know, please feel free to judge, like the previous idiots...

    I'm just looking for advice. Like most on here.
    • motorguy
    • By motorguy 16th Apr 19, 1:02 PM
    • 18,589 Posts
    • 11,451 Thanks
    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.
    Originally posted by Arklight
    I genuinely didn't think people like that really existed.....
    "We have normality. I repeat, we have normality. Anything you still can't cope with is therefore your own problem."
    • Rjhsteel
    • By Rjhsteel 16th Apr 19, 1:04 PM
    • 114 Posts
    • 11 Thanks
    Rjhsteel
    I genuinely didn't think people like that really existed.....
    Originally posted by motorguy
    Although nosey judgemental people are ten a penny! 🙄
    • Arklight
    • By Arklight 16th Apr 19, 1:11 PM
    • 2,218 Posts
    • 3,385 Thanks
    Arklight
    Although nosey judgemental people are ten a penny! 🙄
    Originally posted by Rjhsteel
    You need to take a more relaxed view of life OP. If you are going to buy an Evoque you'll need it when you are sitting on the grass verge of the M23 on a tartan travel rug watching the Almeras whizz by while you wait for the RAC.
    • Rjhsteel
    • By Rjhsteel 16th Apr 19, 1:16 PM
    • 114 Posts
    • 11 Thanks
    Rjhsteel
    You need to take a more relaxed view of life OP. If you are going to buy an Evoque you'll need it when you are sitting on the grass verge of the M23 on a tartan travel rug watching the Almeras whizz by while you wait for the RAC.
    Originally posted by Arklight
    Thanks for your advice re finance for the car.

    And I thought this was a helpful forum. My mistake.
    Last edited by Rjhsteel; 16-04-2019 at 1:18 PM.
    • motorguy
    • By motorguy 16th Apr 19, 2:07 PM
    • 18,589 Posts
    • 11,451 Thanks
    motorguy
    Two things....

    You might find refraining from calling people idiots will make them more likely to be helpful.

    Its primarily a money saving forum. Hard to ignore someone's debt problems when considering offering advice on a new luxury car.
    "We have normality. I repeat, we have normality. Anything you still can't cope with is therefore your own problem."
    • motorguy
    • By motorguy 16th Apr 19, 2:09 PM
    • 18,589 Posts
    • 11,451 Thanks
    motorguy
    I'm just looking for advice. Like most on here.
    Originally posted by Rjhsteel
    And the advice is - dont lumber yourself with even more debt for a high cost luxury car with questionable reliability.
    "We have normality. I repeat, we have normality. Anything you still can't cope with is therefore your own problem."
    • Rjhsteel
    • By Rjhsteel 16th Apr 19, 2:40 PM
    • 114 Posts
    • 11 Thanks
    Rjhsteel
    Two things....

    You might find refraining from calling people idiots will make them more likely to be helpful.

    Its primarily a money saving forum. Hard to ignore someone's debt problems when considering offering advice on a new luxury car.
    Originally posted by motorguy
    And it might be worth people not guessing someone's financial status by looking back at previous posts.

    Advice was asked for the best finance option for a car, not by old posts which are dated and my circumstances have changed.
    Pretty simple.
    Last edited by Rjhsteel; 16-04-2019 at 2:44 PM.
    • Arklight
    • By Arklight 16th Apr 19, 3:02 PM
    • 2,218 Posts
    • 3,385 Thanks
    Arklight
    And it might be worth people not guessing someone's financial status by looking back at previous posts.

    Advice was asked for the best finance option for a car, not by old posts which are dated and my circumstances have changed.
    Pretty simple.
    Originally posted by Rjhsteel
    I think the answer you got was that there isn't a good finance option for that car, they are both a waste of money.

    The only difference between a lease and a PCP is that you can buy the car at the end of a 3 year PCP, whereas if you want to buy a 3 year old car at the end of the lease you will have to buy a different one.
    • Scrapit
    • By Scrapit 16th Apr 19, 4:56 PM
    • 447 Posts
    • 135 Thanks
    Scrapit
    That's 3 on the idiot count so far....

    parking_question_chap
    benbay001
    motorguy
    Originally posted by Rjhsteel
    Are they buying ejokes too?
    • motorguy
    • By motorguy 16th Apr 19, 6:47 PM
    • 18,589 Posts
    • 11,451 Thanks
    motorguy
    And it might be worth people not guessing someone's financial status by looking back at previous posts.

    Advice was asked for the best finance option for a car, not by old posts which are dated and my circumstances have changed.
    Pretty simple.
    Originally posted by Rjhsteel
    No one is guessing anything. You've posted less than two months ago on the Debt Free Wannabe forum very specific details of the level of debt you have with various companies and have been posting on that forum for several years about your IVA / DMP.

    It doesnt sound terribly wise that - due to a remortgage / debt consolidation - now that you've started to get your head above water you're proposing getting even further in to debt by borrowing money to purchase a very expensive and heavily depreciating luxury car.

    All you've done by remortgaging is repay a bigger amount with more interest over a longer time.

    Now, you can call me an idiot again if you like, but jumping right back in there with a Range Rover does not seem the brightest move, particularly given with your debt ridden record, you're going to be paying an astronomical interest rate.
    "We have normality. I repeat, we have normality. Anything you still can't cope with is therefore your own problem."
    • Rjhsteel
    • By Rjhsteel 16th Apr 19, 7:08 PM
    • 114 Posts
    • 11 Thanks
    Rjhsteel
    I did say I had come into money motorguy, but still, you know my life best as you have seen a few posts.

    Again being judgemental without knowing the full story.

    No matter. You carry on.
    • Rjhsteel
    • By Rjhsteel 16th Apr 19, 7:18 PM
    • 114 Posts
    • 11 Thanks
    Rjhsteel
    And it would be nice to get back on topic tbh...
    • caprikid1
    • By caprikid1 16th Apr 19, 7:18 PM
    • 748 Posts
    • 730 Thanks
    caprikid1
    Many years ago someone told me, "Never borrow money to buy a depreciating asset".


    If you need an Evoque rent it, at least you will have more options when it breaks down. If you rent it you will know exactly what your exposure is in terms of depreciation etc. Lots has already been said about your debt so I won't continue to kick the man on the floor as seems to be the trend on here.
    • caprikid1
    • By caprikid1 16th Apr 19, 7:20 PM
    • 748 Posts
    • 730 Thanks
    caprikid1
    I did say I had come into money motorguy.
    Originally posted by Rjhsteel

    A fool and his money are easily parted, I hope the figure you have come into is well into six figures and I don't mean 1000.00
    • DrEskimo
    • By DrEskimo 16th Apr 19, 7:29 PM
    • 470 Posts
    • 349 Thanks
    DrEskimo
    Many years ago someone told me, "Never borrow money to buy a depreciating asset".


    If you need an Evoque rent it, at least you will have more options when it breaks down. If you rent it you will know exactly what your exposure is in terms of depreciation etc. Lots has already been said about your debt so I won't continue to kick the man on the floor as seems to be the trend on here.
    Originally posted by caprikid1
    Problem with this argument is that you are tied to buying brand new, and invariable the increased depreciation will more than offset the potential repair cost. Even an expensive car like an Evoque will never realistically need 1000 repair every single year you own it....that's the level of difference in price we are talking about between used and new when it comes to depreciation (or maybe they are that bad!).

    Essentially you are substituting a possible large cost (might need expensive repairs worth 3000) with a definite large cost (will cost 3000 more in depreciation costs).

    Obviously every car is different, but the general function of a depreciation curve is well known to apply across most cars and models.
    • jeepjunkie
    • By jeepjunkie 16th Apr 19, 8:05 PM
    • 1,531 Posts
    • 1,397 Thanks
    jeepjunkie
    Lol!, My mate's dad's Disco, breaks down every month, sometimes twice. Look nice but unreliable crap..... My old LR wasn't the last word in reliability either. AVOID.
    • parking_question_chap
    • By parking_question_chap 16th Apr 19, 8:06 PM
    • 2,138 Posts
    • 2,353 Thanks
    parking_question_chap
    I'm not explaining my personal circumstances as to why I have come into more money, but you know, please feel free to judge, like the previous idiots...

    I'm just looking for advice. Like most on here.
    Originally posted by Rjhsteel

    If you have come into more money why not buy the car outright?

    Not sure why my post noting you were in 16k of debt in February got deleted. Not as if its not relevant.

    Either way, unless you are super rich and can afford to blow through money its probably getting something that is more about reliability and less about image.


    And it might be worth people not guessing someone's financial status by looking back at previous posts.
    Originally posted by Rjhsteel

    Well what should we use then? a crystal ball.
    Its reasonable to assume given the post was only made 2 months ago that it might still be applicable.
    Last edited by parking_question_chap; 16-04-2019 at 8:08 PM.
    • motorguy
    • By motorguy 16th Apr 19, 8:25 PM
    • 18,589 Posts
    • 11,451 Thanks
    motorguy
    I did say I had come into money motorguy, but still, you know my life best as you have seen a few posts.

    Again being judgemental without knowing the full story.

    No matter. You carry on.
    Originally posted by Rjhsteel
    And thus you would think - IF you'd suddenly and unexpectedly "come in to money" - you'd now, based on very recent but long running hardship NOT be !!!!ing that up the wall on a luxury car you dont need.
    "We have normality. I repeat, we have normality. Anything you still can't cope with is therefore your own problem."
    • motorguy
    • By motorguy 16th Apr 19, 8:27 PM
    • 18,589 Posts
    • 11,451 Thanks
    motorguy
    And it would be nice to get back on topic tbh...
    Originally posted by Rjhsteel
    It IS on topic - you're on a money saving forum asking on one hand for advice of severe debt management issues then all of a sudden asking for advice on how to FINANCE a luxury car.

    The simple one word answer as to how you should finance an Evoque is - DONT.

    You've got yourself out of the frying pan - dont jump in to the fire.
    Last edited by motorguy; 16-04-2019 at 8:30 PM.
    "We have normality. I repeat, we have normality. Anything you still can't cope with is therefore your own problem."
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