Thoughts on this lease quote please?
Discussion
belfry said:
The £66k optional final payment was interesting. Is the effectively the GFV figure?
It’s odd that Aston provide these interest rates at a time of super low rates and to a sophisticated customer base.
Yes, the £66k is effectively the GFVIt’s odd that Aston provide these interest rates at a time of super low rates and to a sophisticated customer base.
The interest rate is fairly typical of most PCP’s at this level, eg brokers will be similar, but check them out too. Other types of loans can be cheaper but you don’t get the security of giving the car back if values tank.
They might move a bit on the rate but the main variables tend to be price in and GFV out.
GFV’s have reduced in recent times, which reflects the lenders appetite to risk.
The more miles you do the better value it becomes. For example for the 18000 miles you are being quoted each one will cost you £2.86, excess miles are 31p....so drive it more if you are planning on returning it.
Minglar said:
Jon39 said:
When Aston Martin chuck in £35 million, to shift stock stock - go for it.
Otherwise, be very wary of PPD schemes (peddlers promoting debt).
Is that sound advice ?
To most of the older posters on here it probably is Jon (me included). I haven’t used a PCP for a car since 2005, but that’s my personal choice. All my cars are paid for and are slowly depreciating. What you have to remember is that a lot of youngsters nowadays don’t really have much interest in cars, particularly expensive sports cars. The few that do see a car as a disposable asset that they are happy to fund on a monthly basis. Just look at the vloggers etc (although I acknowledge they do get some freebies) But it is just a different mindset to how we feel. It is another monthly outgoing along with the mortgage or the rent, the mobile phone, etc etc. The same sort of people probably don’t save very much or contribute to their pensions. I’m not saying it’s right or wrong, but imho I think it’s how the younger generation currently thinks. Surely it’s a rare beast that walks in to an AM dealer and pays list in cash for a new car now? I did exactly that in 2007, but how many on here would consider paying list price for a new AM now, after seeing what has happened in the last eighteen months or so? To attract the new younger buyers they harp on about so often, AM have to offer this type of deal. I know you hate PCPs and have been vocal on the subject in the past but as with most things car related, times are changing, even though these sorts of deals have been around for a long time. Whether it’s sensible or not depends on each individuals personal circumstances, and everyone has their own attitude to risk, leverage, and indebtedness. Simple as that really.
Best Regards
Minglar
I agree with every word, Richard.
Yes, the monthly rental habit might have been first started in a major way, by the mobile phone industry.
Others have quickly followed the concept and monthly rentals and automatic renewals have now become widespread with many products and services.
Funny how years ago, very many people rented televisions, then eventually changed to buying TVs.
Many younger people lead very busy lives and if they have a high number of direct debits, probably never have time to monitor the details of their bank accounts. Absolutely ideal for the provider of the monthly payment product.
My children had a good 'trainer', so have not been sucked into this way of life.
By paying cash for my cars, always buying 2 year olds, then keeping each one for a long time. Add up a life times expenduture for cars obtained that way, and it would be far less than that of someone who has had a new Feista every 3 years. My method even allows for an occasional treat of an Aston Martin.
Mind you, if I was selling finance, or a motor dealer wanting PCP commission income, I would be stating the opposite of everything said above.
macdeb said:
I would detest paying for the depreciation of the car and the salesmans holiday. I just don't get the pay monthly thing. Maybe it's because I've always had to save up hard first to get what I wanted when younger and it's stayed with me and makes me appreciate the value of hard earned. Renting a car for £50k to have parked on driveway is lost on me. That £50k could by a 'good' Aston Martin, keep for three years and sell for £40k (10k loss). Horses for courses I suppose, but not a course I would run.
Several of us share the same opinion about car buying, but we will never be on the motor trade's Christmas card list.
The industry just loves frequent repeat buyers of new cars. Also of course, for a good 2 year old car to become available, we require a new car buyer, who is happy to sell having lost 40%.
paulbirkin said:
On the subject of costs over a period of time, how many of you have seen the delivery mileage 2021 Vantage for sale on AT at £111k?
Private seller in the Colchester region, beautiful colour scheme in my opinion, but I think he will struggle to find a cash buyer .
Especially when lightly used AMRs are £120kPrivate seller in the Colchester region, beautiful colour scheme in my opinion, but I think he will struggle to find a cash buyer .
macdeb said:
I would detest paying for the depreciation of the car and the salesmans holiday. I just don't get the pay monthly thing. Maybe it's because I've always had to save up hard first to get what I wanted when younger and it's stayed with me and makes me appreciate the value of hard earned. Renting a car for £50k to have parked on driveway is lost on me. That £50k could by a 'good' Aston Martin, keep for three years and sell for £40k (10k loss). Horses for courses I suppose, but not a course I would run.
Hmm....you mean it could be better to buy a car which has undergone some depreciation already instead of buying a new one?Jon39 said:
I agree with every word, Richard.
Yes, the monthly rental habit might have been first started in a major way, by the mobile phone industry.
Others have quickly followed the concept and monthly rentals and automatic renewals have now become widespread with many products and services.
Funny how years ago, very many people rented televisions, then eventually changed to buying TVs.
Many younger people lead very busy lives and if they have a high number of direct debits, probably never have time to monitor the details of their bank accounts. Absolutely ideal for the provider of the monthly payment product.
My children had a good 'trainer', so have not been sucked into this way of life.
By paying cash for my cars, always buying 2 year olds, then keeping each one for a long time. Add up a life times expenduture for cars obtained that way, and it would be far less than that of someone who has had a new Feista every 3 years. My method even allows for an occasional treat of an Aston Martin.
Mind you, if I was selling finance, or a motor dealer wanting PCP commission income, I would be stating the opposite of everything said above.
We just have to be savvy about each number and each deal. I've taken on several PCP's "fixed at 11% by BMW sir - nothing we can do" to strike the deal and drive away and then paid them off or taken out a 2.8% loan to cover it. Buying my Mums Golf online it was even suggested by the dealer I do exactly that to get the 'dealer contribution' - most odd...
There is zero doubt the longer you keep the car the more value you get out of it (amortise that dealer profit...) - that suits me fine as i get attached to them, like family! The current Rapide is a 100% keeper therefore (err just like the last one)
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