Red Merle
Member Since: 30 Aug 2014
Location: Liskeard
Posts: 7438
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Just for clarification, is this definitely leasing that we are talking about, rather than PCP? 2011 - 2015: 3 x FL2
2015 - 2017: 2 x D4
2017 to date: FFRR SDV8
2023 to date: FL2 as a second car
2021 to date: Hinckley built ‘14 Triumph Trophy 1200
2022 to date: Hinckley built ‘14 Triumph Trophy 1200 & sidecar!
(One of only two known to exist in the world!)
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 23rd Jan 2018 7:14 pm |
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Canburne
Member Since: 15 Jan 2013
Location: Devon
Posts: 2029
  
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I had one of the last Landmark D4's - pre-registered in Sept 2016 but they couldn't hand them over until December 2016 and mine had about 20 miles on the clock .
"the inherent vice of capitalism is the unequal sharing of blessings....the inherent vice of socialism is the equal sharing of miseries" Winston Churchill
2016 D4 Landmark Club Waitomo ...or is it Club Tempest????
2015 D4 HSE Aintree Green
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| 23rd Jan 2018 11:19 pm |
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professorpool
Member Since: 19 Mar 2012
Location: Woking
Posts: 3213
  
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Red Merle wrote:Just for clarification, is this definitely leasing that we are talking about, rather than PCP?
Yes... What do you mean by an opt out clause?
Most times when I lease a vehicle there is a deposit followed by monthly rentals (23 or 35 months) and then you simply hand the car back and repeat. D3 07 SE - still going strong
D3 07 HSE - gone to car heaven
FL1 - gone to Romania
D3 05 HSE - gone to a divorce diet
D1 V8 manual - gone but not forgotten
RR Classic - gone to car heaven
Jeeps, Lexus, X-trails... Too many to name..
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| 24th Jan 2018 9:35 am |
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Dusty
Member Since: 23 Sep 2013
Location: London
Posts: 1022
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professorpool wrote:Red Merle wrote:Just for clarification, is this definitely leasing that we are talking about, rather than PCP?
Yes... What do you mean by an opt out clause?
Most times when I lease a vehicle there is a deposit followed by monthly rentals (23 or 35 months) and then you simply hand the car back and repeat.
As you say keep to the terms and it's not an issue, but say 12 months into a 36 month agreement you suffer bad health and you want to hand it back, I think you usually have to pay at least 50% of the remaining contract.
At least if you have HP and there's some equity in the car, you can sell it to get yourself out of jail. Being self employed since the 80's I've always tried to factor in the worst case scenario and I'm no longer in the first flush of youth!!
I've seen plenty of excellent 16MY for sale, can't help but think that when approached my 15MY will be worth at least £10k less in the retail world. Think it will probably be a lot cheaper to take a punt on an aftermarket warranty.
Maybe I'll pop down and see you in April and you can make me an offer  Discovery 4 HSE
SDV6
2015
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| 24th Jan 2018 10:34 am |
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professorpool
Member Since: 19 Mar 2012
Location: Woking
Posts: 3213
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That applies equally to finance though.
If you are worried abot ill health, redundancy, brexit, or anything else that might affect income - would it not be more advisable to arrange other insurances such as PHI and cover for consequential losses? What does everyone do in a down turn?
Is it only our car payments that are a problem in the event of ill health?
I don't wish to appear obtuse but I think you are being a bit risk adverse here for risks that appear on the face of it to be very low. D3 07 SE - still going strong
D3 07 HSE - gone to car heaven
FL1 - gone to Romania
D3 05 HSE - gone to a divorce diet
D1 V8 manual - gone but not forgotten
RR Classic - gone to car heaven
Jeeps, Lexus, X-trails... Too many to name..
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| 24th Jan 2018 10:39 am |
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B16 KJR
Member Since: 10 Jul 2006
Location: Rosyth, Fife
Posts: 3005
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Canburne wrote:I had one of the last Landmark D4's - pre-registered in Sept 2016 but they couldn't hand them over until December 2016 and mine had about 20 miles on the clock
Same as mine but I didn't pick it up until April. 
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| 24th Jan 2018 11:03 am |
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Dusty
Member Since: 23 Sep 2013
Location: London
Posts: 1022
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Having been self employed since the 80's I think it's fair to say you are probably less risk adverse than the average person.
HP in my case is totally different. I guess in the trade I might get £32k for my D4, due to quite a hefty deposit my current settlement figure is approx £15k, even if I sell in a hurry and only get £30k, I settle the finance and have £15k to put in the bank.
A current D5 would cost £650+vat a month to lease? (complete guess) Lets say 12 months into the deal I have life changing circumstances, to settle will cost approx £9k, which I pay and have nothing to show for it.
Regarding other forms of insurance, the costs were punitive when I was a young man, I dread to think what they are my at my age now  I just load up with life insurance because the clauses attached to the 'ill health' policies meant you virtually had to be dead to claim on them  For 10 times the cost.
I have my house and private pension (my brother has just retired from a large company on a lovely non contributory pension, so don't get me started on that ) for the worst case scenario, I just wouldn't want to hand over some of that cash to a finance company just for giving them something back.
You pays your money and take your choice as they say Discovery 4 HSE
SDV6
2015
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| 24th Jan 2018 11:29 am |
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professorpool
Member Since: 19 Mar 2012
Location: Woking
Posts: 3213
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Been self enployed since 1995 myself so understand.. D3 07 SE - still going strong
D3 07 HSE - gone to car heaven
FL1 - gone to Romania
D3 05 HSE - gone to a divorce diet
D1 V8 manual - gone but not forgotten
RR Classic - gone to car heaven
Jeeps, Lexus, X-trails... Too many to name..
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| 24th Jan 2018 12:13 pm |
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swansty
Member Since: 21 Sep 2008
Location: Northern Ireland
Posts: 918
 
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Dusty wrote:Having been self employed since the 80's I think it's fair to say you are probably less risk adverse than the average person.
HP in my case is totally different. I guess in the trade I might get £32k for my D4, due to quite a hefty deposit my current settlement figure is approx £15k, even if I sell in a hurry and only get £30k, I settle the finance and have £15k to put in the bank.
A current D5 would cost £650+vat a month to lease? (complete guess) Lets say 12 months into the deal I have life changing circumstances, to settle will cost approx £9k, which I pay and have nothing to show for it.
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I appreciate your logic but it is slightly flawed... If you sold your current D4, you would still have lost money on depreciation, despite thinking you had got 15k into your bank. If you had to hand back a leased car early then yes you might pay 9k and have nothing but its a similar situation - just different ways of funding depreciation.
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| 24th Jan 2018 3:03 pm |
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professorpool
Member Since: 19 Mar 2012
Location: Woking
Posts: 3213
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I think there are some pretty good lease deals about at the moment too D3 07 SE - still going strong
D3 07 HSE - gone to car heaven
FL1 - gone to Romania
D3 05 HSE - gone to a divorce diet
D1 V8 manual - gone but not forgotten
RR Classic - gone to car heaven
Jeeps, Lexus, X-trails... Too many to name..
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| 24th Jan 2018 3:10 pm |
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Someone-Gone
Member Since: 21 Dec 2015
Location: Gone
Posts: 5117
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The trouble with the D5 is that,
1. The S is the basic shape of a D5, lucky if it’s got seats for £46k.
2. The SE doesn’t even have a reversing camera or other essential equipment, to spec this and a couple of other things up is £54k.
3. The HSE is good, but £60k.
Unless your using the Banks money or LRs PCP etc. Then it’s normally too much money to splash out on a motor.
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| 24th Jan 2018 6:24 pm |
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J77
Member Since: 03 Mar 2008
Location: Fife
Posts: 6261
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What essentials are missing from the SE? 23.5MY Defender 90 X-Dynamic SE D250 MHEV Pangea Green
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| 24th Jan 2018 6:33 pm |
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Dusty
Member Since: 23 Sep 2013
Location: London
Posts: 1022
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swansty wrote:Dusty wrote:Having been self employed since the 80's I think it's fair to say you are probably less risk adverse than the average person.
HP in my case is totally different. I guess in the trade I might get £32k for my D4, due to quite a hefty deposit my current settlement figure is approx £15k, even if I sell in a hurry and only get £30k, I settle the finance and have £15k to put in the bank.
A current D5 would cost £650+vat a month to lease? (complete guess) Lets say 12 months into the deal I have life changing circumstances, to settle will cost approx £9k, which I pay and have nothing to show for it.
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I appreciate your logic but it is slightly flawed... If you sold your current D4, you would still have lost money on depreciation, despite thinking you had got 15k into your bank. If you had to hand back a leased car early then yes you might pay 9k and have nothing but its a similar situation - just different ways of funding depreciation.
Quite agree, new cars cost a fortune which ever way you fund them, especially 'so called' prestige expensive brands like LR. I just prefer to spread my risk by paying a bit more up front giving me some potential wriggle room later on. You pretty much pay the same (a small fortune) which ever way you go about it unless of course you pay for the whole thing up front saving a few quid on interest payments
But ultimately depreciation is going to cost you a pretty penny  Discovery 4 HSE
SDV6
2015
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| 24th Jan 2018 6:43 pm |
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Farmer Chalk
Member Since: 07 Mar 2013
Location: Independent Republic of Kentishshire.
Posts: 4156
 
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With only 25k miles on the clock yours is only just run in! Keep it! You know it’s history, you know the owner, you know it’s been fully serviced and loved....your reason for change is what?
I can’t see the maths working out... the benefit you are going to gain for a significant outlay is minimal...
The depreciation on yours should remain fairly constant and won’t be as much as the new money you would have to plough into a new purchase..
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| 24th Jan 2018 6:46 pm |
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