Discussion
kitz said:
The lease on my Vantage is up in December. I would imagine quite a few others are too.Has anyone extended their lease or negotiated a new one ? Or are they moving to pastures new.
I’m assuming you got one of the December 2019 £1,000 per month deals?If so, the same question was asked on here a couple of weeks ago, but there weren’t many responses.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
I’m no expert, but looking at current values, and the way the used car market has risen this year, perhaps some of these cars won’t be given back at the end of term after all. Good luck with your negotiations if you choose that route.
Best Regards
Minglar
If the decision is made to keep a PCP special deal Vantage, is the payment then required called the balloon payment ?
How much is the Vantage special deal balloon payment ? I think they all worked using the same figures, therefore ignoring any options on individual cars to simplify the offer.
In the everyday PCP car world, I think car dealers hope the 'renter' cannot afford the balloon payment. That way they might shift another car and also get more commission on another PCP contract.
Jon39 said:
If the decision is made to keep a PCP special deal Vantage, is the payment then required called the balloon payment ?
How much is the Vantage special deal balloon payment ? I think they all worked using the same figures, therefore ignoring any options on individual cars to simplify the offer.
In the everyday PCP car world, I think car dealers hope the 'renter' cannot afford the balloon payment. That way they might shift another car and also get more commission on another PCP contract.
AdamV12V said:
Jon39 said:
If the decision is made to keep a PCP special deal Vantage, is the payment then required called the balloon payment ?
How much is the Vantage special deal balloon payment ? I think they all worked using the same figures, therefore ignoring any options on individual cars to simplify the offer.
In the everyday PCP car world, I think car dealers hope the 'renter' cannot afford the balloon payment. That way they might shift another car and also get more commission on another PCP contract.
ETA
Just noticed this other thread too hence the comment from Cleverley below. Well done sir!
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Best Regards
Minglar
Edited by Minglar on Tuesday 6th July 15:08
The ‘19 cars heading back in December will have a balloon of approx £88k - you can re finance that at approx £1600 a month over a further 2 years (can’t remember the new deposit amount now)
You can simply hand the car back
You can buy the car cash for approx £88k
Re finance it with Alphera (at not vey competitive rates)
Sell it now to a non Aston dealer for £100k - you will owe approx £93k on it and pocket the £7k difference
Two caveats-figures may be a couple of £100 either way
If you are going to get out now - do it quick (could be up to 150 of these AM Vantages going back in December, that and C19 “ending” the value may not be a positive one.
Thank me later.
You can simply hand the car back
You can buy the car cash for approx £88k
Re finance it with Alphera (at not vey competitive rates)
Sell it now to a non Aston dealer for £100k - you will owe approx £93k on it and pocket the £7k difference
Two caveats-figures may be a couple of £100 either way
If you are going to get out now - do it quick (could be up to 150 of these AM Vantages going back in December, that and C19 “ending” the value may not be a positive one.
Thank me later.
Edited by Cleverley on Tuesday 6th July 19:29
Now is a good time to exit. My balloon is around £92k and WBAC will currently give me £101k for the car. I might even get slightly more from an Aston/premium car dealer as mine has loads of options including Q paint (Elwood) and so has a list price of around £155k. That would be enough to clear the finance and give me a small profit - a position I never thought this car would get to.
You can refinance the balloon but the rate isn't good. I can't remember what I was quoted but it was much more than I'm currently paying, for the same car but at that point 2 years old and starting to need consumables - no thanks.
If it's a second or third car and you're lucky the smart move might be to run it until September/October when the summer is gone, then trade it in and hopefully clear the outstanding finance with the trade in value + potential small profit. Saves you a few grand on paying for October-December when you wouldn't really want to use the car and gets you in ahead of the inevitable mass dumping of them in December, which will surely hit values. That's looking like the best option for me currently, enjoy it as much as I can over summer, do the NC500 in it in September then hand it back straight after if residuals are still strong. I don't need it October-December and the savings on those monthlies + potential trade in profit will go towards its replacement early next year.
You can refinance the balloon but the rate isn't good. I can't remember what I was quoted but it was much more than I'm currently paying, for the same car but at that point 2 years old and starting to need consumables - no thanks.
If it's a second or third car and you're lucky the smart move might be to run it until September/October when the summer is gone, then trade it in and hopefully clear the outstanding finance with the trade in value + potential small profit. Saves you a few grand on paying for October-December when you wouldn't really want to use the car and gets you in ahead of the inevitable mass dumping of them in December, which will surely hit values. That's looking like the best option for me currently, enjoy it as much as I can over summer, do the NC500 in it in September then hand it back straight after if residuals are still strong. I don't need it October-December and the savings on those monthlies + potential trade in profit will go towards its replacement early next year.
Shrimpvende said:
...but at that point 2 years old and starting to need consumables - no thanks.
Please don't use replacement parts as the excuse to dispose of your Aston Martin, Shrimpvende.
They are more reliable than people think.
I have now enjoyed mine for nearly 10 years.
Failed parts:- 1 door damper, 1 battery, 1 aircon radiator, 1 clutch, 4 wheel centre caps, 1 key fob battery and 4 tyres.
With recent value increases, the current depreciation has totalled about £65 per month.
Is that cheap motoring, for a car which originally cost someone £100,000 ?
Edited by Dewi 2 on Wednesday 7th July 15:48
Dewi 2 said:
Shrimpvende said:
...but at that point 2 years old and starting to need consumables - no thanks.
Please don't use replacement parts as the excuse to dispose of your Aston Martin, Shrimpvende.
They are more reliable than people think.
I have now enjoyed mine for nearly 10 years.
Failed parts:- 1 door damper, 1 battery, 1 aircon radiator, 1 clutch, 4 wheel centre caps, 1 key fob battery and 4 tyres.
With recent value increases, the current depreciation has totalled about £65 per month.
Is that cheap motoring, for a car which originally cost someone £100,000 ?
Edited by Dewi 2 on Wednesday 7th July 15:48
I've already decided that unless there's an amazing last minute deal that swings it and keeps me in that car (seeming increasingly unlikely despite me asking multiple times) then I'll be getting something different. It's not so much the cost, but the value derived from that cost. The example above doesn't represent good value, whichever way you cut it.
p.s - you've done very well with your car, and that does present excellent value. I've never been so lucky - I always manage to get hit with either big depreciation or big repair bills!
Shrimpvende said:
Sorry, I probably didn't put that very well. What I meant was I'm not going to pay substantially more money than I already have been doing for the same car for the last 2 years for a further 2 years or so. It's soon going to want tyres (again), likely front pads, a warranty extension for the 4th year etc...that means the 3rd and 4th years of ownership are going to cost me substantially more than the 1st and 2nd, which is a difficult pill to swallow. If I were to refinance the balloon, the numbers were coming out something like £10k in and £1600 a month. I could of course just pay the balloon in cash, but that's taking a leap of faith that the values will remain high. I don't think they will over the longer term, and that money is currently enjoying sizeable returns on the buoyant markets, so I'm loath to tie it up in a depreciating car.
I've already decided that unless there's an amazing last minute deal that swings it and keeps me in that car (seeming increasingly unlikely despite me asking multiple times) then I'll be getting something different. It's not so much the cost, but the value derived from that cost. The example above doesn't represent good value, whichever way you cut it.
p.s - you've done very well with your car, and that does present excellent value. I've never been so lucky - I always manage to get hit with either big depreciation or big repair bills!
I've already decided that unless there's an amazing last minute deal that swings it and keeps me in that car (seeming increasingly unlikely despite me asking multiple times) then I'll be getting something different. It's not so much the cost, but the value derived from that cost. The example above doesn't represent good value, whichever way you cut it.
p.s - you've done very well with your car, and that does present excellent value. I've never been so lucky - I always manage to get hit with either big depreciation or big repair bills!
Yes, I understand the initial (desperate, unrepeatable loss making for AML) deal, was so financially attractive, that any follow up arrangement for the same car seems mighty expensive by comparison.
Ref. your p.s. I don't think it is luck. I have always used the simple method of buying an as-new condition car, 2 to 3 years old, when half the original list price, then just keep them. So easy with Aston Martin, because so many of the cars are very lightly used, therefore providing a good selection. As your arithmetic described, if a customer had ordered your car new, they would now be down £54,000 after only 18 months! That is £3,000 per month, so shows just how good your deal was. Think AML has written off £35 million on the deal so far.
Enjoy whichever car you choose next. Please let us know what it is, if you wish.
Dewi 2 said:
Yes, I understand the initial (desperate, unrepeatable loss making for AML) deal, was so financially attractive, that any follow up arrangement for the same car seems mighty expensive by comparison.
Ref. your p.s. I don't think it is luck. I have always used the simple method of buying an as-new condition car, 2 to 3 years old, when half the original list price, then just keep them. So easy with Aston Martin, because so many of the cars are very lightly used, therefore providing a good selection. As your arithmetic described, if a customer had ordered your car new, they would now be down £54,000 after only 18 months! That is £3,000 per month, so shows just how good your deal was. Think AML has written off £35 million on the deal so far.
Enjoy whichever car you choose next. Please let us know what it is, if you wish.
I'm most likely to go to one of two dark sides - Porsche 911 GT3/GT3 RS or Ferrari F12. Both of which are expensive to get into, but the values have been stable for a long time, certainly when compared with the top end AM models, even prior to the recent madness. Perversely, the Vantage deal was that good that it's allowed me to save for the next car whilst owning this one.
I'm likely to come back to AM at some point as they're really sentimental to me, having worked at Gaydon and being my favourite cars for years. If I could find the right spec GT8 I'd probably go for it, as that's the car I saw through as a programme and was my baby for 18 months there. The Vanquish Zagato was also one of mine, but it's out of my price range! The GT8 would be a keeper though, something to hold onto forever (along with my Clio Trophy, that's not going anywhere either!)
It sounds like these lease deals can’t be refinanced at the same monthlies. That would suggest a lot of these cars could be handed back in to the system, and if up to 150 were sold on this deal, that’s a lot. It is over three times how many are currently available on the AM Pre Owned site, so I dread to think what will happen to values. Once restrictions are lifted, and people start spending their money elsewhere, I really can’t see how these lofty prices will be sustainable. I guess it would make sense to get out before the end of the term, if the numbers currently add up. I very much doubt we will see these type of deals again.
We shall see
Best Regards
Minglar
We shall see
Best Regards
Minglar
Gassing Station | Aston Martin | Top of Page | What's New | My Stuff