Discussion
Hi all,
I have the opportunity through work (sales at a JLR retailer) to have an F-TYPE R-Dynamic Black Edition 2.0 on an 18 month PCP for approx £250/month with £3000 deposit, based on 15k per annum. I’m 20 and the insurance is actually less than my current Audi, but it would be the first car that I haven’t got my money back from, and that is the only thing putting me off (despite the fact I sell cars far more expensive than that every day). Would you do it if you were me?
Thanks in advance
I have the opportunity through work (sales at a JLR retailer) to have an F-TYPE R-Dynamic Black Edition 2.0 on an 18 month PCP for approx £250/month with £3000 deposit, based on 15k per annum. I’m 20 and the insurance is actually less than my current Audi, but it would be the first car that I haven’t got my money back from, and that is the only thing putting me off (despite the fact I sell cars far more expensive than that every day). Would you do it if you were me?
Thanks in advance
I know most will be along to tell you to save it for a deposit or "buy a 1986 5-series barge to waft / smoke about in" but IMO that's a great deal and will be a cheap way to have a great experience as a young bloke, just think on how much money it will save you on drink, drugs and hookers as you'll now drive on all nights out so you can cram impressionable young women into your car
Sharpy98 said:
Hi all,
I have the opportunity through work (sales at a JLR retailer) to have an F-TYPE R-Dynamic Black Edition 2.0 on an 18 month PCP for approx £250/month with £3000 deposit, based on 15k per annum. I’m 20 and the insurance is actually less than my current Audi, but it would be the first car that I haven’t got my money back from, and that is the only thing putting me off (despite the fact I sell cars far more expensive than that every day). Would you do it if you were me?
Thanks in advance
What are you going to drive in 18 months' time when the lease runs out?I have the opportunity through work (sales at a JLR retailer) to have an F-TYPE R-Dynamic Black Edition 2.0 on an 18 month PCP for approx £250/month with £3000 deposit, based on 15k per annum. I’m 20 and the insurance is actually less than my current Audi, but it would be the first car that I haven’t got my money back from, and that is the only thing putting me off (despite the fact I sell cars far more expensive than that every day). Would you do it if you were me?
Thanks in advance
Need to have the cash or start putting some away over the next 18 months.
Sensible head:
No, your 20 and (I presume) dont own a house and will likely want to travel at some point. Vehicle sales is a hugely cyclical industry which is beginning to decline materially - look at reported profitability of listed dealer groups falling, huge decreases in new registrations and huge uncertainty in the economy....ergo your bonuses/commissions on which you may or may not rely are potentially not as safe as you may think...also if you’re the newest person at a dealership, especially with your age, you are the easiest to let go....can you still afford it then?
20 year old bloke:
Yeeeeeeessss! I’ll get all those peng-tings in my new jaaaaag whip, balls deep in clunge until the PCP ends especially, if I put an exhaust on so people think it’s the 3.0! I don’t care if I’ve lost my deposit and monthly payments, you only live once!
I did option 2 when I was 21 on a 4 year old E92 335i, got out before bankruptcy (just) lost £1k in 2 years in depreciation (only due to a cash in lieu insurance payment where I fixed the car far cheaper elsewhere) but spent about £5k a year on petrol/insurance etc... Versus friends that could get on the housing ladder earlier I’m now in a far worse position (they bought in 2012, me 2014...).
I now regret it and did in the last year of ownership, especially when I saw friends getting their own places hence selling it soon after...I didn’t at 21.....go figure
No, your 20 and (I presume) dont own a house and will likely want to travel at some point. Vehicle sales is a hugely cyclical industry which is beginning to decline materially - look at reported profitability of listed dealer groups falling, huge decreases in new registrations and huge uncertainty in the economy....ergo your bonuses/commissions on which you may or may not rely are potentially not as safe as you may think...also if you’re the newest person at a dealership, especially with your age, you are the easiest to let go....can you still afford it then?
20 year old bloke:
Yeeeeeeessss! I’ll get all those peng-tings in my new jaaaaag whip, balls deep in clunge until the PCP ends especially, if I put an exhaust on so people think it’s the 3.0! I don’t care if I’ve lost my deposit and monthly payments, you only live once!
I did option 2 when I was 21 on a 4 year old E92 335i, got out before bankruptcy (just) lost £1k in 2 years in depreciation (only due to a cash in lieu insurance payment where I fixed the car far cheaper elsewhere) but spent about £5k a year on petrol/insurance etc... Versus friends that could get on the housing ladder earlier I’m now in a far worse position (they bought in 2012, me 2014...).
I now regret it and did in the last year of ownership, especially when I saw friends getting their own places hence selling it soon after...I didn’t at 21.....go figure
Edited by kiethton on Thursday 1st November 16:50
That works out as £416 a month averaged out over the length of the contract. I think that's pretty reasonable for the type of car, but it's still a fair chunk of money. Only you can say whether it's worth that much to you. I certainly wouldn't have spent that much on a car when I was your age (and indeed wouldn't now either) but that doesn't mean you shouldn't.
DaveH23 said:
No idea if that's a good deal or not but I thought these only came in 3.0 & 5.0 flavour?
Good heavens, no. The PH collective became extremely animated when it was announced. I can only assume you were lucky enough to be on holiday that monthhttps://www.pistonheads.com/news/ph-britishcars/ja...
DaveH23 said:
No idea if that's a good deal or not but I thought these only came in 3.0 & 5.0 flavour?
Either way it's car that always turns my head when I see one.
The newest engine is the 2.0 four pot.Either way it's car that always turns my head when I see one.
Personally I'd feel slightly cheating myself having such a great looking car with the boggo engine.
With the £3000 deposit, you're looking at £7500 for 18 months of driving which is pretty steep.
At a similar age I had a M135i for a similar cost and there's no way I would do it again.
If you have a reasonable income and credit rating you could borrow 20k over 4 or 5 year for a similar monthly payment and actually own something at the end of it. A 997 Carrera 2s or E92 M3 is a nice thing at that money but you probably already know what you want to do!
Sharpy98 said:
I should also point out that I’ve worked there two years and have a pretty stable monthly performance so don’t think I’m going anywhere??
Also worth bearing in mind that things can happen that are out of your controlhttps://www.bbc.co.uk/news/business-46045334
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