No Artura love?!

No Artura love?!

Author
Discussion

Frankychops

553 posts

10 months

Saturday 16th March
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JDH1 said:
Frankychops said:
A maxium of:

£30000+36*1300(£46800).

So £76,800 max is how I read it?
That's what I worked it out to but I wasn't sure. Maybe my idea of 'amazing value' isn't the same!
I’m going to spend circa £85k buying a 650 spider. I specced a artura and it was £280k. So fingers crossed for some heavy depreciation! At 2-3 years old, £140k for a spider?

ex-devonpaul

1,195 posts

138 months

Saturday 16th March
quotequote all
andrew said:
£26k pa to finance a mclaren is not my idea of value either !
You're looking at the wrong comparator...

£500/week at our local van hire place wouldn't even get you a VW combi that you'd never own. At least this way you'd get to not own a much nicer car.

smile

PinkHouse

868 posts

58 months

Saturday 16th March
quotequote all
Frankychops said:
JDH1 said:
Frankychops said:
A maxium of:

£30000+36*1300(£46800).

So £76,800 max is how I read it?
That's what I worked it out to but I wasn't sure. Maybe my idea of 'amazing value' isn't the same!
I’m going to spend circa £85k buying a 650 spider. I specced a artura and it was £280k. So fingers crossed for some heavy depreciation! At 2-3 years old, £140k for a spider?
Coupes are now circa £150k so you won't be too far off

NGK210

2,959 posts

146 months

Sunday 17th March
quotequote all
Blimey Charley, it’s colour sensitive!

Saw a ‘sort of electric blue’ one street-parked yesterday, and its styling looked a mess – albeit pleasingly compact and lithe overall.

However, this car looks very cool – could someone please ID its hue? Ta smile

https://m.youtube.com/watch?v=HPJxmCNrf2o&pp=y...

akadk

1,499 posts

180 months

Friday 5th April
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SydneyBridge

8,635 posts

159 months

Friday 5th April
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They reckon it is only going to depreciate by £30k in 2 years
So you are just paying the interest plus £5k, over 2 years

andrew

9,972 posts

193 months

Friday 5th April
quotequote all
SydneyBridge said:
They reckon it is only going to depreciate by £30k in 2 years
So you are just paying the interest plus £5k, over 2 years
it's a disguised discount

SydneyBridge

8,635 posts

159 months

Friday 5th April
quotequote all
I hope it works and sells a few cars

Davyt

631 posts

19 months

Friday 5th April
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SydneyBridge said:
They reckon it is only going to depreciate by £30k in 2 years
So you are just paying the interest plus £5k, over 2 years
Not an expert on car finance by any means but Are you forgetting about the £25K deposit ??

SydneyBridge

8,635 posts

159 months

Friday 5th April
quotequote all
The depreciation is £30k max, £25k of that is the deposit so over 2 years it costs £5k (plus deposit), plus the interest. I think...

Davyt

631 posts

19 months

Friday 5th April
quotequote all
Haha I’m not sure how it all works tbh but if you pay
£25K deposit
£1500 for 23 months = £34500
Total £59500 in 2 years, you can then walk away or pay the £154K for the car??

akadk

1,499 posts

180 months

Friday 5th April
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Davyt said:
Haha I’m not sure how it all works tbh but if you pay
£25K deposit
£1500 for 23 months = £34500
Total £59500 in 2 years, you can then walk away or pay the £154K for the car??
Yes exactly that.

The 9.9% APR is a killer.
When it was 5.9% in 2020, these deals were no brainers ala the 600LT deals

Sarnie

8,046 posts

210 months

Saturday 6th April
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akadk said:
They must be on drugs if they think it will be worth £154k in 2 years time........

JerryEXE

525 posts

100 months

Saturday 6th April
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Sarnie said:
akadk said:
They must be on drugs if they think it will be worth £154k in 2 years time........
I’m not really up to date with the wording of car finance but I don’t see where it states that final value is guaranteed. Is this a PCP deal (and hence that final payment is optional) or is the buyer obliged to pay that final balloon? If the latter then you are paying £213k for the car which, as said, is unlikely to be worth £154k in 2 years time. Nearly 10% interest is crazy.

TP321

1,480 posts

199 months

Saturday 6th April
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Sarnie said:
They must be on drugs if they think it will be worth £154k in 2 years time........
Fully agree. It won’t be, so you will be handing the car back. So it will have cost you the £25k deposit and the 23 payments of £1500. That’s £30k a year to lease the car.

Does anyone actually think this is a good deal?

HIS LM

1,291 posts

260 months

Saturday 6th April
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Ascot are offering 3.9% APR with a 10% deposit

Bispal

1,619 posts

152 months

Saturday 6th April
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A friend of mine just took the deal. He absolutely loved the Artura on the test drive and was happy with the costs so picks it up next week. He tells me you can hand the car back and just walk away, which is what he intends to do.

The deal he was offered was 3.9% on new Artura or 8.9% used, both with a deposit. He did the maths and a new Artura MRRP £230k but £189k with discounts worked out at £68k total costs over 3 years and 18k miles. A used car worked out at £80k over 3 years as interest was higher. So new car works out £22.5k pa, all in, cheaper than used if you are financing.

I hope they manage to get some sold with the deal, by all accounts they are absolutely stunning to drive.


PinkHouse

868 posts

58 months

Saturday 6th April
quotequote all
Bispal said:
A friend of mine just took the deal. He absolutely loved the Artura on the test drive and was happy with the costs so picks it up next week. He tells me you can hand the car back and just walk away, which is what he intends to do.

The deal he was offered was 3.9% on new Artura or 8.9% used, both with a deposit. He did the maths and a new Artura MRRP £230k but £189k with discounts worked out at £68k total costs over 3 years and 18k miles. A used car worked out at £80k over 3 years as interest was higher. So new car works out £22.5k pa, all in, cheaper than used if you are financing.

I hope they manage to get some sold with the deal, by all accounts they are absolutely stunning to drive.
I think your friend is ignoring the other side of the equation here, whilst the costs for the new one might be "lower" you're essentially going to walk away with nothing when you hand the car back, but buying a used one at circa £150k and spending £80k all in would still leave you with significant equity to balance out the cost of ownership

Streetbeat

901 posts

77 months

Saturday 6th April
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Are there any tax breaks for buying a hybrid? I guess the deal might be popular if you are buying as a "company car"

Frankychops

553 posts

10 months

Saturday 6th April
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It’s no different to what Ferraris version is loosing, might be less?