OK,

After much deliberation and after sitting down with the finance guys at LR, we've struck up this deal:

Plan Type: "FREEDOM DEAL - 5254 Q4 RR SP 10.9 - Band 0 - Lowest Commission"

RRS SC 4.2 + Privacy Glass
Grey/Black

£58350 LIST

£20,400.00 Deposit (Max Allowable)
24 mths @ £621.00/mth
Guaranteed Future Value after 24mths: £30,085.00 (doing 24k mls per year)

Can take delivery 5th January 06!

I've been hammered on residual because of the high mileage I think.

How does that sound? What's everyones opinion on what it'll be worth at the end?

Iceman.

Did you get my PM Iceman? Given this is a dealer quote, it WILL be beatable on the open market. I'd be very surprised if my broker cannot beat it on similar terms. 

Iceman wrote:

OK,

Guaranteed Future Value after 24mths: £30,085.00 (doing 24k mls per year)

I've been hammered on residual because of the high mileage I think.

How does that sound? What's everyones opinion on what it'll be worth at the end?

Iceman.

MDP wrote:

Iceman wrote:

OK,

Guaranteed Future Value after 24mths: £30,085.00 (doing 24k mls per year)

I've been hammered on residual because of the high mileage I think.

How does that sound? What's everyones opinion on what it'll be worth at the end?

Iceman.

This is a guranteed MINIMUM future value! You can and are within your rights to sell your Sport at the best possible price at the time

As Shmoogle said the quote is very likely easily beaten and if you do go ahead with LR and they are using a subsidiary of Lex (branded as business partner) take great care to record everything in writing.

Their admin is appalling and they frequently seek to over charge via direct debit. The same applies to contract hire/leasing via Business Partner. They seem, as a matter of policy to seek to charge for end of contract damage even on cars that are as anally maintained as RRUK’s. Of course they can’t make a claim for damage stick - when there was none, if you get the bod that collects the vehicles to record “no claimable damage in accordance with the contract conditions” on the final collection record, even so they will try.

Two of my employees Jags were subject to such attempts at claims by business partner. They failed, we won but only because we had more and complete, accurate records and the inclination to litigate against them if needed.

I have dealt with many of the premium vehicle brands in house finance people in the past BMW, Audi and Porsche no problems, others OK. Jaguar=business partner=Lex=garbage. We don’t use any of them these days. With those vehicles that we finance we have two or three brokers shop around for us.

If you want more details I can PM them. 08 RRS TDV8 HSE with the good bits taken off the first RRS

05 RR Sport TDV6 HSE Rimini Red (Rimini Brown at events), Stormer wheels (original 19's for events), PTI, towpack. TV tuner (now driven by an employee)

1923 Ford Model T (serious ground clearance)
06 DB9

FFRR TDV8 Vogue my07 (wife won't let me use it in case I go to Salisbury with VA in it)

plus some other bits n' pieces

To avoid any of this I have ( In the past ) sold my cars privately & settled the outstanding balance to avoid any wranglings. Also , never found it a problem when trading in for another car with the same dealer.

But would also agree that you will get a more competative quote from another source other than LR 
" WITH MORE EXTRAS THAN A HOLLYWOOD EPIC "

The private sale is definitely the way to go as long as your finance agreement allows it (I know First National do not permit you to do this, for example). There's a much higher chance of you selling the vehicle for at least the settlement figure that way.

You have the offer of broker's services from M@verik and myself and if the figures have to be attractive to you then I can't believe the dealer will offer you the best way to go. 

shmoogle wrote:

You have the offer of broker's services from M@verik and myself and if the figures have to be attractive to you then I can't believe the dealer will offer you the best way to go.

I suppose it depends what's important to you, doesn't it? You can generate lower monthly payments by increasing the balloon, but the deferred risk is whether your car is worth the settlement figure come resale time. That's the real issue with these type of deals; they're not a clever way of investing money as most of it goes down the drain.

I'm surprised you've lost so much on your M3 but yours must have been fully loaded at £54k new. Testament to the fact that lots of options don't get you a high resale If you feel the LR route meets your requirements best, then that's what you should take. I'm just very surprised that there's not another way of working better figures out there. 

You can't compare the M3 to this car though, the stage of the cars lifecycle is completely different, the M3 is about to be changed and is no longer the latest thing, and the RRS IS..

Dealers have in past experience always been willing to give a higher guaranteed residual then any other finance provider, but rape you with hidden costs and the other terms of the agreement, By going private, yes it may work out that you have a lower balloon guaranteed, but the terms wil probably be better.

Personally i don't see the benefit of having a guaranteed balloon on this car, as the values can be predicted to a degree right now, and i don't think it will fall on its arse. However im talking about my car priced at £44k not an SC which is priced at £55-60k and has a very specialist market come resale time compared to the more wider market of the diesel.

Hence the balloons for the SC are not much more then the diesel compared to how much extra they cost, so i was personally willing to take the risk on a LP deal with non guaranteed balloon at a good rate and terms, without making the balloon ridiculous. something like £18k after 4 years i think it was. Lr own quote gave me a higher residual but with higher payments as their rate was worse and their terms, they ended up giving me a capital bank rate which was very competitive so even though the balloon was slightly less, the payments were still lower?!

As i believe where possible, the finance companies do try and not get their clients into negative equity, and as long as you don't go crazy with the balloon and you watch the values and cycle of the cars life, you can get in and out of cars, without loosing out too much, yes you will loose, buying cars in the UK market as said above, is no better then pouring money down the drain, but they should be viewed as consumable expenditure items not like a capital investment.. if you can't afford to loose it, then you can't afford to buy it, go for something a bit cheaper.

Usually by getting a few quotes, you can get an idea of what the market is hedging its bets on for the cars residual value for the future, and it would take a lot for this car to fall on its arse.. as its a fab car, and is already getting quite a following (just look at us on here!). Past: Bmw M3 Coupe 57, 335d Coupe 56, Audi RS4 06, RR Sport TD HSE 05,
Current: 57 Bmw 730d Sport, 56 Merc S320 CDI L, 57 Merc Viano L 2.2CDI

WWW.MHCFINANCE.CO.UK
Kam@Mhasnain.co.uk : 0121-622-1369

Featured in: WWW.STREETCREDMAGAZINE.COM, www.police-information.com

kam100 wrote:

Personally i don't see the benefit of having a guaranteed balloon on this car, as the values can be predicted to a degree right now, and i don't think it will fall on its arse. However im talking about my car priced at £44k not an SC which is priced at £55-60k and has a very specialist market come resale time compared to the more wider market of the diesel.

I personally reckon 2 year old sc with 48 on the clock, would still be selling off a LR forecourt for £35k, hopefully and the way things are looking, LR won't flood the market too much and will maintain a degree of waiting times etc.

I personally think it would be good for the £32k come pex time, but obviously a lot also depends on what you are part exing for and the margin adjustment that the next dealer/seller are willing to carry out to inflate your car's value. If you buy another new car with a waiting list where they are offering £0 discount and £0 movement, then you will get rock bottom, but ring around and i reckon you could get a better price.

With my old 325ci cab, LR gave me something like £20,850 in Pex, was still good for retail at £27k mark, so i thought they were taking the piss, i ended up selling to Sytner group buyer direct, and he gave me £23k cash, which was a lot more acceptable and helped position the RRS deal into a more healthy position for my finances.. come resale time, every £1 matters.

Im trying to think of another car with which we could base some kind of comparison against, and there is nothing, the SC is a very special car, and i can't see LR selling millions of the things, so there should still be an air of exclusivity and desire around for it even after a few years. Diesels will be the lowest entry point so will have a wider audience as said before, and as we paid less we can afford for them to go for a lot less. One finance dealer quoted me £28k value balloon after 2 years with 24 on the clock, i think realistically this should be slightly below this, but for £44k to £27ish k after 2 years, that aint too bad considering other cars loose a lot more.

But saying all the above, don't quote me come 24 months time, and your SC is worth £25k, as we agreed before, this market could fall on its arse depending on taxation changes etc which may occur in the mean time, but personally i think the enjoyment factor would be worth the risk, plus think of how much money you could make in 24 months and could fill the gap if the worst case scenario presents itself! Past: Bmw M3 Coupe 57, 335d Coupe 56, Audi RS4 06, RR Sport TD HSE 05,
Current: 57 Bmw 730d Sport, 56 Merc S320 CDI L, 57 Merc Viano L 2.2CDI

WWW.MHCFINANCE.CO.UK
Kam@Mhasnain.co.uk : 0121-622-1369

Featured in: WWW.STREETCREDMAGAZINE.COM, www.police-information.com

!!!!!! 58,000 UK pounds !!! Thats Just over $100K US $
I paid $73K US $ for my SC here in NYC.....maybe you
should buy one here and ship back to the UK and swap
the wheel to the righthand drive........I thought you could
find the LR product cheaper in Holland / Europe etc...Ex VAT.

Mr G in NYC wrote:

!!!!!! 58,000 UK pounds !!! Thats Just over $100K US $
I paid $73K US $ for my SC here in NYC.....maybe you
should buy one here and ship back to the UK and swap
the wheel to the righthand drive........I thought you could
find the LR product cheaper in Holland / Europe etc...Ex VAT.

You really can't directly compare prices between different markets; there are many economic & competitive factors. But feel free to complain.