Looked at the r design xc60 in black yesterday at our local dealer auto with metallic
Lovely car. Wheels look great. They offered me a 4yr pcp deal at £400 a month with £1600 deposit doing 8k miles
A year. Sounds a decent deal. Anyone seen better ?
Cheers Andy
I have one, good cars love R Design insides and D5 engines capable. Never understood renting a car I like to own it and for £20+k Id just buy a 1-2 year old one and be free to do as many miles as I like and not have to worry about it
RIAC
Must be honest, I'd never do a PCH longer than 2yrs but that's just me.
As you say, the price seems high when you end up with nothing at the end.
If I'm in a position myself shortly then I'm going to go for one of the pre-reg ones as their high spec. I'd prefer an inscription pro but will happily sacrifice that and a few extras I want to save £12.5k on effectively a new car
Better deals than that around for PCH on the XC60 R-Design.
Good reading on Pistonheads-
https://www.pistonheads.com/gassing/...?h=0&t=1714957
Last edited by Hatco1800es; 20th January 2018 at 17:29.
Once you loose the ‘owning’ desire PCH makes a huge amount of sense at the price. It is all about experience these days not ownership or so they keep saying
As said above two year lease of wifeys last Golf R worked out at 50% of the depreciation and my Q7 which goes back in May will work out similar.
I have an R Design XC90 being delivered in May and the lease is ridiculous why would I want to tie money up in plastic tin and rubber which sits of the drive and depreciates.
The XC60 looks very nice and these new platform Chinese owned Volvo’s will continue to give the Germans a run for their money and I am sure a headache as they develop further.
Good luck and excellent choice.
Pitch
But on a opposite side, if you are doing a 4 year deal for let's say 100 quid extra, you might do a hire purchase and own the car afterwards , which will leave you with some residual value, where in a lease you hand the car back and the money is gone
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No.
If you buy on HP, you end up paying for the car and interest on the whole price less your deposit. It’s going to be far more than an extra £100pm or £4800 over four years.
If you want a new car every two, three or four years then lease/pch/pcp is far and away the best option financially.
I suppose if you are talking about a new car.. I tend to buy it slightly used, where the big hit is gone.
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Because I am paid a monthly car allowance and I am expected to have a suitable car.
I would add further that we all have priorities on what we spend (or waste) our hard earned on, I have no vices, watches aside, but I do like a nice motor and I don’t really give a monkeys on what the neighbours think of my car, not that I have that many.
I could indeed spend a great deal more on my old runaround but I am a tight arse and financial matters are high on Mrs P’s pink job list.
I put it in the same logic category as renting a TV from Radio Rentals
Last edited by 100thmonkey; 21st January 2018 at 14:45.
RIAC
I don't doubt your figures, but since the lease company still has to dispose of the car after the lease-term, probably for less than you could sell it for privately - I would have to assume that the lease companies are able to make money on the whole deal simply by paying a lot less than normal when they stock their fleet (in much the same way as car-hire companies)
Where else can they make money out of it, as they are in effect acting as a car-owner, just like I would - if I was to buy that car outright.
It’s much the same as my business. We hire in all our plant rather than purchase it, better business capital used to tie up land and good cash balance rather than in a depreciating asset. Leasing or hiring is not a rude word in business it is quite normal generally a lot of the plant hire companies work this way.
Likewise with motoring. If the cost of a lease is less than the depreciation on an asset it is a complete financial no brainer. But, if the mindset is I want/must own my car than that’s the individuals choice and there is nothing wrong with that whatsoever, leasing is not everyone’s cuppa.
Pitch
Could not agree more. Why put capital on a depreciating asset. Unless your car is an appreciating one. Awaiting my 5th PCH lease car in March and having done all the sums on BMWs, Porsches, VW ups and 4×4s, it's a real no brainer to pay just over £300 PCM for a £40k car and hand it back after a few years. Why fund capital finance for purchase, let alone depreciation.
But all PCP or Lease deals add up only if you compare with a “new’ car if you brought a 2-3 year old one it would be loads cheaper to own, if your ego is that big that you dont want anyone to know its n to new then get a private plate
RIAC
Owned both, and would happily own another again. I had a 1971 Volvo 1800ES as a daily driver for most of the 90s. Old 911s. New cars a plenty. Ego has nothing to do with it. Right tool, right job and the right time. And before it's said, I don't need to impress colleagues or neighbours.
Interesting thread. We currently own our cars but I am looking st PCP for the next family wagon. It means the cash is freed up for other things, a small deposit is needed, you have a new car with the nice mod cons they have these days and then you chop it in for a new one in x years time. It’s more expensive than buying a 2/3 year old equivelant model and maybe the same price as buying the same car new and suffering depreciation. Ultimately it frees up money for other things and means the family car will always be new which is nice.
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RIAC
The ones for sale I mentioned earlier are annoyingly the old models. Thought it was too good to be true.
I’ve had a quote for an r design model with CarPlay metallic and winter pack for £408 per month and deposit of £2k. 10k miles pa and 24 months.
Rent and buy bitcoin with the rest
8,000 miles per year,,
"Once is happenstance. Twice is coincidence. The third time it's enemy action."
'Populism, the last refuge of a Tory scoundrel'.
I prefer NOT owning something that could potentially break down expensively.
A 3-4 year old run around sounds great, if nothing goes wrong.
I'd rather pay a little extra to take the 'if' out of the equation.
An 8 year old run around would be cheaper again, but even more likely to break down.
And with 2 babies in the back, I prefer the higher safety ratings of newer cars.
I look at leasing purely from a cost of ownership point of view.
If its costs about the same to lease a new car for 2 years, as it would to own a 3-4 year old one for the same period, it's a no brainer.
Also, you can invest the 20k you would have spent buying outright - that swings it even more in favour of leasing.
Last edited by demonloop; 24th January 2018 at 12:47.
Got to love the daft PH "% of list price" equation to decide if its a good or average (or poor) deal........given that MRSP is a totally fictional number that no ones ever pays in the real world it's a worthless exercise I'm afraid...
- - - Updated - - -
If it's like ours, wherever they bloody please!!!
I see what you're saying (and understand your line of work) but obviously it's just a basis to try and work something out. However, as you say, the price is never the price.
For info, I've specc'd an Inscription Pro up at just shy of £50k. Through Carwow, I have this down to £42,500. A quick calc on drivethedeal, brings the exact spec (what I've been quoted for) r-design down to £36,400.
I suppose looking at it that way, would a 2yr old XC60 r-design be worth £25,000? Possibly. That's the more realistic calculation.
I'd be inclined to decide if it's PCP or PCH you want before perhaps getting quotes left, right and centre. If you do want to run the XC60 for 36/48 months and 100% know you will have it for the full term (this is key here) there is some value in looking at PCP - but accept your deposit is funding the depreciation. If you are more likely to want to run it for 24 months and walk away then PCH would make more sense of course.
Volvo are supporting the RV's to get to these deals on the XC60 (and XC90 too) and as a way to take market share of course.
Have to say both in R Design spec are handsome SUV's and a change from the Germanic norm as well. Shame the engines aren't as good as the rest of the car but as a package they are very good indeed.
To be honest, I initially started off with aiming to own as I would like to think I'd keep for 4 or 5 yrs. However, never having owned anything more than 2.5yrs, I'm not so good at sticking with things.
At the moment, I'm leaning towards a 2yr deal be it PCH or PCP - primarily because I'd like to see what 2020 brings in the whole dieselgate world and Volvo's electric statement. I was considering the T8 but to be fair its just too expensive for my needs and not as economical as the diesel. I had considered Volvo's 0% deal too but that would mean 50% deposit (and the subsequent sale of some watches!). A PCP would put me in a better position (possibly) come the end of the deal and getting something else Volvo.
I took the XC60 for an extended test drive after having a similar one in a Q5. Far preferred the Volvo and I was relatively impressed overall. Lovely looker as well.
8,000 miles? I need a deal for approximately 20,000 miles/pa
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I purchased a just under 2 year old XC60 RDesign fully loaded with low miles for £20k. If in 4 years it’s worth nothing (which it won’t be) then it’s cheaper than renting plus it’s all mine and I can do what I like to it plus all the miles I care for
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RIAC
Just think if you'd leased it and put your 20k into Bitcoin ;-)
I know how you feel about preferring to own the car, I used to be the same but sometimes leasing is hard to ignore.
Assuming the gearbox doesn't eat itself, engine doesn't go bang, etc etc a 2 year old will normally be a better buy
There's other good points about leasing too, apart from warranty.
I used to hate selling my car when it came time to change too, so I don't miss that one bit.
Timewasters, tinkers, scammers, etc etc
I would never buy a brand new car with my own money, and I only lease the ridiculous manufacturer supported deals, so it works out not as bad as you might think.
Last car I brought a year old. Had it for 14 years and sold it for a grand. Apart from routine replacements like tyres and oils etc it didn’t cost much in fact in its entire life it lost less than the VAT on a newmone
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RIAC
Golf R.... Mmmmmmm
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Don't want to derail the thread, but.... Niiiiiice! What colour?
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I’ve been running an XC60 for nearly 2 years now. Nice car but the turning circle requires a 15 point turn - it’s probably easier turn a bus round!
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