Used F Type PCP bad idea

[chrispmartha]

I’ve been looking at used Ftypes, they seem ridiculously good value for money.

I was looking at older V6s Coupes, which can be had for £20k-£30k for older pre facelifts.

However for £10k more you can get a facelift V8 (new mer tech inside which is something id like)

I would get a loan (plus around 7k deposit ) for the older ones, however my bank (halifax) are offering PCP deal on a newer one (21 plate) at 7.5% which outs the monthly payments lower than a loan (around £500) , now obviously there is a final payment which is actually set a lot lower than the car should be worth.

Is the newer car on a PCP a daft idea?

[Robertb]

7.5% Apr is a pretty keen rate for car finance from what I’ve seen.

The issue presumably with PCP vs straight HP is that the interest bill is higher overall as the loan balance outstanding is higher.

However, if it keeps the monthlies lower and gets you into a better car, then happy days.

But you do need to consider what you’ll do at the end of the term.

[Edible Roadkill]

Fair few mechanical issues with these isn’t there, same as the land rovers. I’d be more worried about that than the pcp.

[chrispmartha]

Edible Roadkill said:

Fair few mechanical issues with these isn’t there, same as the land rovers. I’d be more worried about that than the pcp.

I’ve read and read these forums most seem to say they are pretty reliable? Especially the later ones.

[chrispmartha]

Robertb said:

7.5% Apr is a pretty keen rate for car finance from what I’ve seen.

The issue presumably with PCP vs straight HP is that the interest bill is higher overall as the loan balance outstanding is higher.

However, if it keeps the monthlies lower and gets you into a better car, then happy days.

But you do need to consider what you’ll do at the end of the term.

My worry is i do tend to change cars, but maybe the deposit and the fact its done more than 50% depreciation already might temper the normal losses on a new PCP if you get out early.

[BespokeSupercarFinance]

The Apr is really good from the bank but they normally know the residual value right down, in my experience sometimes a rate of 1/1.5% higher with a specialised lender can give you a lower monthly payment due to the difference in balloon values compared to the loans from the bank

[BRR]

Edible Roadkill said:

Fair few mechanical issues with these isn’t there, same as the land rovers. I’d be more worried about that than the pcp.

I've had 3 F-Types, 1 late pre-facelift v6S and two post facelift V8's and never single problem with any of them.

The pre-facelift cars are more raw and just seemed a bit more exciting where-as the post facelift cars are definitely more refined. also worth noting that on a run the V8 is better on fuel than the V6, not sure why but that's what I found with mine

[chrispmartha]

I'm actually;;y thinking of getting an older one on HP, Id prefer the later car but not sure I want the full 40k on my credit file at the moment, Ive found a really nice 2015 example that's got full JLR history and its nearly half the price and if kept id own it at the end.

Decisions decisions...

[Square Leg]

The V6 400 Sport would be a good proposition- loads of kit and quite a rarity.
I had a 2014 Type R for a few years and it was incredibly reliable, but the noise annoyed me after a while.
Obviously no GPF on the older ones and also 550bhp - think the newer version are de-tuned?

[SWoll]

chrispmartha said:

I'm actually;;y thinking of getting an older one on HP, Id prefer the later car but not sure I want the full 40k on my credit file at the moment, Ive found a really nice 2015 example that's got full JLR history and its nearly half the price and if kept id own it at the end.

Decisions decisions...

I personally much prefer the from end styling of the earlier cars. Nothing else out there that can beat it as a package for around £20k IMHO and easy enough to retrofit Carplay or AA to improve the entertainment.

The big question is do you pay a bit more for the V8 R..

[chrispmartha]

I actually preferred the earlier v6s sound and theatre to the newer V8 facelift but i refer the upgraded infotainment and dash, but not sure its worth the £20k extra for it.

Got approved at HP rate of 5.1% with my bank for the older car

[chrispmartha]

Got another test drive of 19 plate P380 this afternoon to compare but thats £37,000 Vs £23,000

[chrispmartha]

Test drove the P380, i think they've ruined the character quite a bit with the noise restrictions to be honest!

The earlier v6’s sound way better

[BRR]

Square Leg said:

The V6 400 Sport would be a good proposition- loads of kit and quite a rarity.
I had a 2014 Type R for a few years and it was incredibly reliable, but the noise annoyed me after a while.
Obviously no GPF on the older ones and also 550bhp - think the newer version are de-tuned?

the facelift cars do a 450 BHP version (which actually put out about 480) which just has a differnet map on the old R engine, the new R has the engine in the same state of tune as the old SVR so puts out 575 bhp