PCP 0% Early Settlement
Discussion
I’m probably about to buy my first ev so a bit nervous about the change. The car is a Jaguar iPace which is available with 0% over 4 years. Obviously I’d be crazy not to take that but does anyone know what happens if I hate the car and want to early settle & sell early?
Thanks in anticipation.
Thanks in anticipation.
You would need to check your agreement but the base rules are
Once balance (of total borrowed) is less than 50% you can hand the car back, less any fees and stuff like collection costs.
Be aware, if you are putting in a low deposit and the monthlies are low it might be a long time before you hit 50%.
You can also settle the agreement by making payment in full. As its 0% it will be the full cost of the car minus any payments you already made, plus fees. The car is then yours to sell.
3rd option is you can wait till the 4 years is up and hand it back, plus any fees.
Be aware the reason they are offering 0% is that the current market is undergoing a bit of a correction and they are trying to keep volumes up. This may actually drive residuals down further as even more used vehicles come onto the market in a few years. So, I would only take something like an iPace if you intend to keep it for as a min the 50% part of the term, which as I said watch out as that could easily be well into the 3rd year.
The cars themselves are great, I had one for 3 years. Fast, comfy, space, quiet. The only issue is the charging infrastructure and the range in winter. But that effects all EVs. HTH
Once balance (of total borrowed) is less than 50% you can hand the car back, less any fees and stuff like collection costs.
Be aware, if you are putting in a low deposit and the monthlies are low it might be a long time before you hit 50%.
You can also settle the agreement by making payment in full. As its 0% it will be the full cost of the car minus any payments you already made, plus fees. The car is then yours to sell.
3rd option is you can wait till the 4 years is up and hand it back, plus any fees.
Be aware the reason they are offering 0% is that the current market is undergoing a bit of a correction and they are trying to keep volumes up. This may actually drive residuals down further as even more used vehicles come onto the market in a few years. So, I would only take something like an iPace if you intend to keep it for as a min the 50% part of the term, which as I said watch out as that could easily be well into the 3rd year.
The cars themselves are great, I had one for 3 years. Fast, comfy, space, quiet. The only issue is the charging infrastructure and the range in winter. But that effects all EVs. HTH
gotoPzero said:
You would need to check your agreement but the base rules are
Once balance (of total borrowed) is less than 50% you can hand the car back, less any fees and stuff like collection costs.
Be aware, if you are putting in a low deposit and the monthlies are low it might be a long time before you hit 50%.
You can also settle the agreement by making payment in full. As its 0% it will be the full cost of the car minus any payments you already made, plus fees. The car is then yours to sell.
3rd option is you can wait till the 4 years is up and hand it back, plus any fees.
Be aware the reason they are offering 0% is that the current market is undergoing a bit of a correction and they are trying to keep volumes up. This may actually drive residuals down further as even more used vehicles come onto the market in a few years. So, I would only take something like an iPace if you intend to keep it for as a min the 50% part of the term, which as I said watch out as that could easily be well into the 3rd year.
The cars themselves are great, I had one for 3 years. Fast, comfy, space, quiet. The only issue is the charging infrastructure and the range in winter. But that effects all EVs. HTH
Thanks, that’s really useful to know. The range is a bit of an issue as newer models seem to do much better.Once balance (of total borrowed) is less than 50% you can hand the car back, less any fees and stuff like collection costs.
Be aware, if you are putting in a low deposit and the monthlies are low it might be a long time before you hit 50%.
You can also settle the agreement by making payment in full. As its 0% it will be the full cost of the car minus any payments you already made, plus fees. The car is then yours to sell.
3rd option is you can wait till the 4 years is up and hand it back, plus any fees.
Be aware the reason they are offering 0% is that the current market is undergoing a bit of a correction and they are trying to keep volumes up. This may actually drive residuals down further as even more used vehicles come onto the market in a few years. So, I would only take something like an iPace if you intend to keep it for as a min the 50% part of the term, which as I said watch out as that could easily be well into the 3rd year.
The cars themselves are great, I had one for 3 years. Fast, comfy, space, quiet. The only issue is the charging infrastructure and the range in winter. But that effects all EVs. HTH
I also just checked insurance which is expensive compared to other ev’s.
gotoPzero said:
Just had a look at their base deal, 10% down @800 odd a month.
I reckon it will be about 36 months before you are at 50%.
It would obviously vary depending on what model you went for (the total borrowed), your deposit and your monthly payment.
Yes, that’s about right. I like the car very much and would normally pay cash but obviously not if there’s 0% available. There’s also discounts available on the car which will inevitably effect residuals.I reckon it will be about 36 months before you are at 50%.
It would obviously vary depending on what model you went for (the total borrowed), your deposit and your monthly payment.
Insurance we were paying about £700 maybe a bit more? I cant really remember - but that was 2 years ago... so for my circs I would have thought closer to a grand now if I was to get another.
Range, we struggled on longer trips in the winter. 200 miles was really the max range in the winter. Summer maybe 240. The worst range I had was about 120 miles. It was about -7 to -10c.
We charged at work on 13A. I appreciate most people would not do it this way, but I could not be bothered getting a bigger charger fitted.
I would get into work about 7am and leave around 6 ish. In that time it would normally put on about 15-17% ish. I could normally charge it up from say 20% to 100% over the course of the working week, or pretty close. My commute was only a couple of miles though.
We would then normally use the battery over the weekend and start from 20% again on a Monday.
Dont forget if charging out and about instavolt etc its gone crazy expensive so avoid that at all costs.
When we first got ours (March 2019) I was paying no more than about 25p. When we got rid of it I think it was up to about 45p.
Its now 75p! £60 ish for call it 240 miles range if you are light on the throttle.
Range, we struggled on longer trips in the winter. 200 miles was really the max range in the winter. Summer maybe 240. The worst range I had was about 120 miles. It was about -7 to -10c.
We charged at work on 13A. I appreciate most people would not do it this way, but I could not be bothered getting a bigger charger fitted.
I would get into work about 7am and leave around 6 ish. In that time it would normally put on about 15-17% ish. I could normally charge it up from say 20% to 100% over the course of the working week, or pretty close. My commute was only a couple of miles though.
We would then normally use the battery over the weekend and start from 20% again on a Monday.
Dont forget if charging out and about instavolt etc its gone crazy expensive so avoid that at all costs.
When we first got ours (March 2019) I was paying no more than about 25p. When we got rid of it I think it was up to about 45p.
Its now 75p! £60 ish for call it 240 miles range if you are light on the throttle.
gotoPzero said:
Insurance we were paying about £700 maybe a bit more? I cant really remember - but that was 2 years ago... so for my circs I would have thought closer to a grand now if I was to get another.
Range, we struggled on longer trips in the winter. 200 miles was really the max range in the winter. Summer maybe 240. The worst range I had was about 120 miles. It was about -7 to -10c.
We charged at work on 13A. I appreciate most people would not do it this way, but I could not be bothered getting a bigger charger fitted.
I would get into work about 7am and leave around 6 ish. In that time it would normally put on about 15-17% ish. I could normally charge it up from say 20% to 100% over the course of the working week, or pretty close. My commute was only a couple of miles though.
We would then normally use the battery over the weekend and start from 20% again on a Monday.
Dont forget if charging out and about instavolt etc its gone crazy expensive so avoid that at all costs.
When we first got ours (March 2019) I was paying no more than about 25p. When we got rid of it I think it was up to about 45p.
Its now 75p! £60 ish for call it 240 miles range if you are light on the throttle.
iPace insurance for me £950. I can insure a BMW i4 M50 for £750, must be to do with the price of parts/repairs.Range, we struggled on longer trips in the winter. 200 miles was really the max range in the winter. Summer maybe 240. The worst range I had was about 120 miles. It was about -7 to -10c.
We charged at work on 13A. I appreciate most people would not do it this way, but I could not be bothered getting a bigger charger fitted.
I would get into work about 7am and leave around 6 ish. In that time it would normally put on about 15-17% ish. I could normally charge it up from say 20% to 100% over the course of the working week, or pretty close. My commute was only a couple of miles though.
We would then normally use the battery over the weekend and start from 20% again on a Monday.
Dont forget if charging out and about instavolt etc its gone crazy expensive so avoid that at all costs.
When we first got ours (March 2019) I was paying no more than about 25p. When we got rid of it I think it was up to about 45p.
Its now 75p! £60 ish for call it 240 miles range if you are light on the throttle.
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