Expected Residuals?
Discussion
I was reading another thread on PH and looked at an example of financing a F360M clicky clicky.
This is a serious car for only £80 more than I am paying for the Monaro. I assume this deal is done with a balloon payment at the end, obviously offset with the strong residuals you can expect from a Fezza.
My question is... what are the expected residuals for the TSO? ..and as a result... am I likely to be able to cut a similar deal on a spanker TSO Targa?
I had always assumed a £50k car would be out of my league...
dsgv6 said:
Financing my year 2000 360M; Deposit 10k, Finance 50k, 36 monthly payments of 582 from Capital Bank (Classic & Sports are also very good though and have used them in the past)
This is a serious car for only £80 more than I am paying for the Monaro. I assume this deal is done with a balloon payment at the end, obviously offset with the strong residuals you can expect from a Fezza.
My question is... what are the expected residuals for the TSO? ..and as a result... am I likely to be able to cut a similar deal on a spanker TSO Targa?
I had always assumed a £50k car would be out of my league...
That's the big question, and one I'm thinking through for when I get mine, although having been bitten by the finance I had on the Cerb I'm hoping to have enough saved for when I want mine.
If we look at current level TVR level residuals, since they are realistically the closest thing to the Marcos (small manufactuer, fibreglass cars) then the picture isn't so rosy as Fezzers and Porkers, factor in that any financer will be somewhat nervous about what will (to them) appear to be a new marque and I think you'll be looking at higher monthlies. I'd love someone to put me wrong though, perhaps turboman could come up with some numbers?
That Fezza finance is for £20952 over three years after a deposit, so after interest is probaby something like £15k towards the car and £6k interest; leaving 35k on the baloon or hire scheme at the end, so 58% residual over three years, certainly attainable on a Fezza of that age I'd imagine as depreciation will have bottomed out.
If we look at current level TVR level residuals, since they are realistically the closest thing to the Marcos (small manufactuer, fibreglass cars) then the picture isn't so rosy as Fezzers and Porkers, factor in that any financer will be somewhat nervous about what will (to them) appear to be a new marque and I think you'll be looking at higher monthlies. I'd love someone to put me wrong though, perhaps turboman could come up with some numbers?
That Fezza finance is for £20952 over three years after a deposit, so after interest is probaby something like £15k towards the car and £6k interest; leaving 35k on the baloon or hire scheme at the end, so 58% residual over three years, certainly attainable on a Fezza of that age I'd imagine as depreciation will have bottomed out.
Tripps said:
That's the big question, and one I'm thinking through for when I get mine, although having been bitten by the finance I had on the Cerb I'm hoping to have enough saved for when I want mine.
May I ask what to avoid? Tripps said:
If we look at current level TVR level residuals, since they are realistically the closest thing to the Marcos (small manufactuer, fibreglass cars) then the picture isn't so rosy as Fezzers and Porkers
I cant find any pretty graph that tells me what a Sagaris would / will be. They seem to drop £15k with 15k miles on the clock and a years worth of ownership (according to PH classifieds). Tripps said:
Factor in that any financer will be somewhat nervous about what will (to them) appear to be a new marque and I think you'll be looking at higher monthlies.
Good point. I hadn't considered that! I've had finance companies lined up for a while for this, and although most lenders wont offer a baloon as its not exactly a car that will appear in Glasses or Parkers there are a few that will give it a big baloon.
So in answer to your question, it depends largely on the buyers status, but for donkeys years Porsche, Ferrari and Lotus owners have been financing this way, in a car with a good strong residual it makes perfect sense.
So in answer to your question, it depends largely on the buyers status, but for donkeys years Porsche, Ferrari and Lotus owners have been financing this way, in a car with a good strong residual it makes perfect sense.
turboman said:
I've had finance companies lined up for a while for this, and although most lenders wont offer a baloon as its not exactly a car that will appear in Glasses or Parkers there are a few that will give it a big baloon.
What sort of baloon/residual would you say is average over three years then? Just looking for an idea of what it might be, rather than any sort of guarantee.
V8 EOL said:
Tripps said:
That's the big question, and one I'm thinking through for when I get mine, although having been bitten by the finance I had on the Cerb I'm hoping to have enough saved for when I want mine.
May I ask what to avoid?Not something that should really be discussed online, name and shame and all that. Thankfully it was no-one in TVR circles.
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