GR86 and finance offer
Discussion
Anyone else tempted by these or actually going to place an order?
I’ve been thinking about either an mx5 or a GT86 next with no real rush to change but the GR86 does have my interest. £30k is a big spend but I think if I were to get the right car I would be happy to just keep it. I know that kind of money buys a lot of used car but I just don’t think I want the hassle of something too old anymore.
I haven’t bought a brand new car for 20 years and have bought all but my first couple of motors outright with no finance. Thing is, although I could potentially find 30k it’s a lot of money to take out of savings. I have no idea if the Toyota finance offer of 4777 down and 299 a month over 41 months is any good or not? It obviously means some cost in terms of interest over the period but those monthly payments are okay for the next few years and it would leave 16k balloon payment which I would just pay at the time. I also have no idea how it all works with a car that’s not yet even available to look at. Do you just register an interest or would Toyota be wanting your 4777 up front even before you’ve seen the car? Also, how realistic is this July delivery given the current state of the new car market?
I may be better off just paying around 15-20k for a used mx5 or GT86 but the thought of a brand new car that nobody else has used is very tempting, especially as a keeper.
I’ve been thinking about either an mx5 or a GT86 next with no real rush to change but the GR86 does have my interest. £30k is a big spend but I think if I were to get the right car I would be happy to just keep it. I know that kind of money buys a lot of used car but I just don’t think I want the hassle of something too old anymore.
I haven’t bought a brand new car for 20 years and have bought all but my first couple of motors outright with no finance. Thing is, although I could potentially find 30k it’s a lot of money to take out of savings. I have no idea if the Toyota finance offer of 4777 down and 299 a month over 41 months is any good or not? It obviously means some cost in terms of interest over the period but those monthly payments are okay for the next few years and it would leave 16k balloon payment which I would just pay at the time. I also have no idea how it all works with a car that’s not yet even available to look at. Do you just register an interest or would Toyota be wanting your 4777 up front even before you’ve seen the car? Also, how realistic is this July delivery given the current state of the new car market?
I may be better off just paying around 15-20k for a used mx5 or GT86 but the thought of a brand new car that nobody else has used is very tempting, especially as a keeper.
I have been interested in the gr86 ever since i heard it was going into production and tbh i think the deal you mention looks ok.
The numbers are what I would expect them to be and i am waiting for a test drive before i make my mind up as i have just had delivered my new family/daily so I am in no rush.
I would keep it for the term or before and then hand it back as life is too short to hang onto a car for too long imho.
The whole new car purchase is one I enjoy tbh...
The numbers are what I would expect them to be and i am waiting for a test drive before i make my mind up as i have just had delivered my new family/daily so I am in no rush.
I would keep it for the term or before and then hand it back as life is too short to hang onto a car for too long imho.
The whole new car purchase is one I enjoy tbh...
Edited by Norton850 on Thursday 14th April 18:19
I think you could order one from the 20th April , place a disposit . Test drive a demo once your dealer gets there's & if its not for you get your deposit back.
My gut feeling is to pay cash , if you can afford it . In a couple of years if its not for you then you are not in a long contract agreement with finance.
It seems well priced at just under 30k to order , With production costs world wide going up I guess it will not stay at this price for long. Only my opinion though.
My gut feeling is to pay cash , if you can afford it . In a couple of years if its not for you then you are not in a long contract agreement with finance.
It seems well priced at just under 30k to order , With production costs world wide going up I guess it will not stay at this price for long. Only my opinion though.
ChrisH72 said:
Anyone else tempted by these or actually going to place an order?
I’ve been thinking about either an mx5 or a GT86 next with no real rush to change but the GR86 does have my interest. £30k is a big spend but I think if I were to get the right car I would be happy to just keep it. I know that kind of money buys a lot of used car but I just don’t think I want the hassle of something too old anymore.
I haven’t bought a brand new car for 20 years and have bought all but my first couple of motors outright with no finance. Thing is, although I could potentially find 30k it’s a lot of money to take out of savings. I have no idea if the Toyota finance offer of 4777 down and 299 a month over 41 months is any good or not? It obviously means some cost in terms of interest over the period but those monthly payments are okay for the next few years and it would leave 16k balloon payment which I would just pay at the time. I also have no idea how it all works with a car that’s not yet even available to look at. Do you just register an interest or would Toyota be wanting your 4777 up front even before you’ve seen the car? Also, how realistic is this July delivery given the current state of the new car market?
I may be better off just paying around 15-20k for a used mx5 or GT86 but the thought of a brand new car that nobody else has used is very tempting, especially as a keeper.
A dealer will probably order one for you for a £500 deposit, subject to you test driving their demo when it arrives. If it's not for you once you've driven it, they'll refund the £500. That's what we do anyway. I’ve been thinking about either an mx5 or a GT86 next with no real rush to change but the GR86 does have my interest. £30k is a big spend but I think if I were to get the right car I would be happy to just keep it. I know that kind of money buys a lot of used car but I just don’t think I want the hassle of something too old anymore.
I haven’t bought a brand new car for 20 years and have bought all but my first couple of motors outright with no finance. Thing is, although I could potentially find 30k it’s a lot of money to take out of savings. I have no idea if the Toyota finance offer of 4777 down and 299 a month over 41 months is any good or not? It obviously means some cost in terms of interest over the period but those monthly payments are okay for the next few years and it would leave 16k balloon payment which I would just pay at the time. I also have no idea how it all works with a car that’s not yet even available to look at. Do you just register an interest or would Toyota be wanting your 4777 up front even before you’ve seen the car? Also, how realistic is this July delivery given the current state of the new car market?
I may be better off just paying around 15-20k for a used mx5 or GT86 but the thought of a brand new car that nobody else has used is very tempting, especially as a keeper.
Ah okay that’s good to know. I’m planning to go and visit the local dealer to have a chat with them about it the week after next so might know more then.
Seems silly to think of a £30k Toyota as good value but in the scheme of things it doesn’t look too bad. The local dealer has an 18 plate GT86 for £23k which seems a bit daft. I’ve always liked the GT86 but have read about it’s flaws and wouldn’t really want to spend more than about £15k on one. I’m pretty sure if I had one I’d want to move on after a couple of years. That money seems to buy a 14/15 plate pre facelift car at the moment.
MX5 looks a bit better value. £20k for a top of the range 2019 GT sport nav+ which feels okay. I think the value would drop quite quickly but might not be an issue if I kept it longer term. Length of ownership is another thing I do need to consider as I have changed cars at least every 3 years so far but I do fancy getting a cracking car and keeping it at this stage.
Seems silly to think of a £30k Toyota as good value but in the scheme of things it doesn’t look too bad. The local dealer has an 18 plate GT86 for £23k which seems a bit daft. I’ve always liked the GT86 but have read about it’s flaws and wouldn’t really want to spend more than about £15k on one. I’m pretty sure if I had one I’d want to move on after a couple of years. That money seems to buy a 14/15 plate pre facelift car at the moment.
MX5 looks a bit better value. £20k for a top of the range 2019 GT sport nav+ which feels okay. I think the value would drop quite quickly but might not be an issue if I kept it longer term. Length of ownership is another thing I do need to consider as I have changed cars at least every 3 years so far but I do fancy getting a cracking car and keeping it at this stage.
Borrow the money from yourself.
Pay the £30k from your savings then pay it back to yourself monthly exactly as you would if you were paying Toyota. You can even add on a bit of interest each month so in theory you are getting a brand new car and earning interest on it.
Man maths at it’s finest..
Pay the £30k from your savings then pay it back to yourself monthly exactly as you would if you were paying Toyota. You can even add on a bit of interest each month so in theory you are getting a brand new car and earning interest on it.
Man maths at it’s finest..
BertBert said:
_Bozzy said:
A dealer will probably order one for you for a £500 deposit, subject to you test driving their demo when it arrives. If it's not for you once you've driven it, they'll refund the £500. That's what we do anyway.
Only orderable online using "mytoyota"nick1871 said:
Borrow the money from yourself.
Pay the £30k from your savings then pay it back to yourself monthly exactly as you would if you were paying Toyota. You can even add on a bit of interest each month so in theory you are getting a brand new car and earning interest on it.
Man maths at it’s finest..
Can't really be bothered with all that. Issue is that I don't have the money just yet but expect to have it within a few months (inheritance). I can do the 5k deposit fine though. Surely you can just pay off finance whenever?Pay the £30k from your savings then pay it back to yourself monthly exactly as you would if you were paying Toyota. You can even add on a bit of interest each month so in theory you are getting a brand new car and earning interest on it.
Man maths at it’s finest..
I'll have a chat with the dealer and would quite like to drive the gt86 they have in stock too as I've never tried one. In all honesty I'm probably leaning towards an mx5 anyway, especially with the lovely weather we've had today!
_Bozzy said:
Funnily enough, a colleague called me saying we'd just had an email suggesting it was online order only! I'm off until Tuesday, so I'll get the full details then.
It's fairly straightforward. The dealers were expecting to be able to place orders using their system as usual, so they'd taken deposits accordingly. Now they have had to refund those deposits and the online ordering will open to the public as it were on Wednesday.A bit of a fiasco really for all those people, me included who thought they'd got the job done!
BertBert said:
It's fairly straightforward. The dealers were expecting to be able to place orders using their system as usual, so they'd taken deposits accordingly. Now they have had to refund those deposits and the online ordering will open to the public as it were on Wednesday.
A bit of a fiasco really for all those people, me included who thought they'd got the job done!
Probably so Toyota can manage the speculative multiple orders they saw with the GR Yaris.A bit of a fiasco really for all those people, me included who thought they'd got the job done!
Too many were pre registered & sold to dealers at inflated prices rather than enthusiast owners.
nick1871 said:
Borrow the money from yourself.
Pay the £30k from your savings then pay it back to yourself monthly exactly as you would if you were paying Toyota. You can even add on a bit of interest each month so in theory you are getting a brand new car and earning interest on it.
Man maths at it’s finest..
Better still, charge yourself a rip-off interest rate, make even more money.Pay the £30k from your savings then pay it back to yourself monthly exactly as you would if you were paying Toyota. You can even add on a bit of interest each month so in theory you are getting a brand new car and earning interest on it.
Man maths at it’s finest..
https://www.toyota.co.uk/new-cars/gr86/gr86-retail...
So it's 4.9apr.
I know that means paying a bit of interest over 42 months but it also means not tying up all of the cash in one go. My guess is that it'll be worth a lot more than the 16.5k balloon payment at the end.
So it's 4.9apr.
I know that means paying a bit of interest over 42 months but it also means not tying up all of the cash in one go. My guess is that it'll be worth a lot more than the 16.5k balloon payment at the end.
ChrisH72 said:
https://www.toyota.co.uk/new-cars/gr86/gr86-retail...
So it's 4.9apr.
I know that means paying a bit of interest over 42 months but it also means not tying up all of the cash in one go. My guess is that it'll be worth a lot more than the 16.5k balloon payment at the end.
The end value is irrelevant overall as the depreciation on the car will be the same however you choose to finance it. So it's 4.9apr.
I know that means paying a bit of interest over 42 months but it also means not tying up all of the cash in one go. My guess is that it'll be worth a lot more than the 16.5k balloon payment at the end.
The question is if you’re happy for it to cost you £3k in interest for you to be able to keep that cash buffer in the bank.
It seems a reasonable deal to me, but my choice would be part cash and part personal loan at a lower interest rate.
Is the GR86 going to be in limited numbers? Or just limited in how many they can make in 2 years.
What’s the general consensus on the £30k basic manual versions value at 1 or 2 years old?
Not an easy question (of course) just eyeing this up as an alternative to leasing value wise.
Cash purchase that is, no finance.
What’s the general consensus on the £30k basic manual versions value at 1 or 2 years old?
Not an easy question (of course) just eyeing this up as an alternative to leasing value wise.
Cash purchase that is, no finance.
BertBert said:
It's fairly straightforward. The dealers were expecting to be able to place orders using their system as usual, so they'd taken deposits accordingly. Now they have had to refund those deposits and the online ordering will open to the public as it were on Wednesday.
A bit of a fiasco really for all those people, me included who thought they'd got the job done!
Yes, it's straightforward now I've read the Source bulletin A bit of a fiasco really for all those people, me included who thought they'd got the job done!
Thanks for the update.
Edited by _Bozzy on Wednesday 20th April 10:38
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