Finance deals AMV8

Author
Discussion

hobo

Original Poster:

5,755 posts

245 months

Monday 7th November 2005
quotequote all
Although I suspect that a lot of you (rich people) with an AMV8 on order have never heard of finance , I was just wondering on what monthly payment would be on such a vehicle, on a PCP kind deal.

Was thinking, 85k list, put 10% down, finance the car over 24 or 36 months, with a final payment (guaranteed or not).

Would much appreciate any feedback.

anonymous-user

53 months

Monday 7th November 2005
quotequote all
Just do the maths!!

£85K less £say £10K deposit = £75K to finance.

Lets say 6% for fun over 36 months thats roughly £14K interest so financing a total of £89K.

Over 36 months that £2472 per month!!

Of course depending on the finance route you will have some form of baloon at the end which will reduce the payments. Lest say over 3 years the car retains 60% of it's value (£34000 to finance) that means your monthly payments will be roughly £65K over 36 months = £1805 per month with a baloon or give it back/trade it in at the end!!!

Very rough figures but probably good enough for a guestimate!!!!

turboman

370 posts

250 months

Monday 7th November 2005
quotequote all
Have a word with Classic and Sports finance, speak to Rob, there is nothing this guy doesnt know about it, and he will always be straight with you. 07050 139381 www.classicandsportsfinance.com

Hope this helps..

hobo

Original Poster:

5,755 posts

245 months

Monday 7th November 2005
quotequote all
garyhun said:
Just do the maths!!

£85K less £say £10K deposit = £75K to finance.

Lets say 6% for fun over 36 months thats roughly £14K interest so financing a total of £89K.

Over 36 months that £2472 per month!!

Of course depending on the finance route you will have some form of baloon at the end which will reduce the payments. Lest say over 3 years the car retains 60% of it's value (£34000 to finance) that means your monthly payments will be roughly £65K over 36 months = £1805 per month with a baloon or give it back/trade it in at the end!!!

Very rough figures but probably good enough for a guestimate!!!!

Seem a little high to me.

Can get a DB9 for less than that through a contract hire company.

Would have thought/hoped payments would be circa £1200/month.

Iainm

69 posts

225 months

Tuesday 8th November 2005
quotequote all
DB9...895pm
Vanquish....960pm
Vantage similar.


Why finance over 36months?? If u adopt the USA style of ownership, finance it over 60months with the majority of individuals keeping the car 18months to 24months, sometimes less on these vehicles. The reality is most people financing vehicles like this will never reach the end of their finance period and decide "I want to buy this car and keep it"

PM me for further details; lurking on the Porker forums usually; guys I deal with have access to all sorts without the hideous dealer margins....aka, salesmans xmas holiday in Barbados!! 996 4s's are less than 450 pm with 10% down!! heheheheh


Cheers



>> Edited by Iainm on Tuesday 8th November 02:20

>> Edited by Iainm on Tuesday 8th November 02:23

kryten22uk

2,344 posts

230 months

Friday 11th November 2005
quotequote all
garyhun said:
Just do the maths!!

£85K less £say £10K deposit = £75K to finance.

Lets say 6% for fun over 36 months thats roughly £14K interest so financing a total of £89K.

Over 36 months that £2472 per month!!

Of course depending on the finance route you will have some form of baloon at the end which will reduce the payments. Lest say over 3 years the car retains 60% of it's value (£34000 to finance) that means your monthly payments will be roughly £65K over 36 months = £1805 per month with a baloon or give it back/trade it in at the end!!!

Very rough figures but probably good enough for a guestimate!!!!


Got the right idea but went a little wrong somewhere. Basically, interest is only charged on balance remaining, hence over 36mths it comes to around £11k. You then have to pay off the remaining £24k (as £51k is the balloon) in 36mths. So add this to the £11k interest gives £35k over 36mths which is approx £970pcm.

Doing this ultra-accurately (assuming monthly compounding 6% interest, no upfront fees, and monthly payments in arrears) it comes to £982.94 which is in line with Iainm's other quotes, (however those I imagine maybe lower due to better APR or less VAT).

pk328

562 posts

244 months

Saturday 12th November 2005
quotequote all
These 'balloon payment' finance deals certainly make such high end cars potentially within reach.

If I were to sell my 328 and the wife's '99 SLK I could proabably put down a £35k deposit. That should keep the monthly payments affordable.

What's the catch with these deals? They seem too good to be true, I might even pop down to my nearest AM dealer tomorrow to talk numbers...

wrn

432 posts

228 months

Saturday 12th November 2005
quotequote all
If you pop down to your AM dealer tomorrow to talk numbers then by the time the car gets delivered you would probably have saved enough to pay for it 10 times over...

pk328

562 posts

244 months

Sunday 13th November 2005
quotequote all
wrn said:
If you pop down to your AM dealer tomorrow to talk numbers then by the time the car gets delivered you would probably have saved enough to pay for it 10 times over...


although once the speculators have dropped out, I reckon the wait won't be too long, certainly not the two years currently being quoted

pk328

562 posts

244 months

Saturday 19th November 2005
quotequote all
So, here is an example that was quoted to me for a car specced to £90k:

£30k deposit
£60k balance to finance
£500pm for 24 months
Balloon payment £57k

£500 a month for an AMV8? - sounds a bargain!

kryten22uk

2,344 posts

230 months

Saturday 19th November 2005
quotequote all
pk328 said:
So, here is an example that was quoted to me for a car specced to £90k:

£30k deposit
£60k balance to finance
£500pm for 24 months
Balloon payment £57k

£500 a month for an AMV8? - sounds a bargain!

Probably not from your wife's point of view!