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The Madness of PCP
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Phil B
 


Member Since: 12 Apr 2005
Location: Amersham, UK - gone to the country!
Posts: 93

2005 Discovery 3 TDV6 HSE Auto Java BlackDiscovery 3
The Madness of PCP

So I put my spec in the finance calculator today, including 12k of options on an HSE Luxury. Looked at the optional purchase price after 37 months and, with and without options, it was the same value. Thus, LR Finance depreciate the options to Zero after three years. Adding the options also doubles the monthly payment, based on a 25k deposit.

So now I'm thinking - why would anyone using finance spec anything onto a base car? If you are looking at a mid optioned SE, you should be better off buying an HSE, right? Because the base spec has a residual value of around 55% whereas the options have zero residual.

This seems like madness, and is LR actively pushing customers away from their options list. Very odd.

Any opinions?


Phil
 Java TDV6 HSE with Alpaca and a few other fancy bits
BMW C1 200 with too many options to list and the world's worst image 
 
Post #177154030th Jan 2017 3:24 pm
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jimbg
 


Member Since: 19 Apr 2013
Location: UK
Posts: 478

United Kingdom 

Is the calculator contractual or merely a guide?

Maybe it would be a different story if you went into the dealership?
  
Post #177156430th Jan 2017 4:26 pm
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J77
 


Member Since: 03 Mar 2008
Location: Fife
Posts: 6261

Scotland 

It's always been like that, it was explained to me by my salesman (dealt with him for years) he says spec as much stuff on your car as you like but it will still be valued as a bog standard SE or HSE, which is why I currently drive a bog standard D4 SE, has what I need and none of the stuff I don't, hence not taking a hit on options. The same with my D5 bog standard SE with a couple of options (privacy glass and heated steering wheel) that I really want.

Though dealing with the same dealer for years they're always fair on trade in.
 23.5MY Defender 90 X-Dynamic SE D250 MHEV Pangea Green  
Post #177156530th Jan 2017 4:27 pm
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lespes
 


Member Since: 17 Sep 2009
Location: Sitting Down
Posts: 2231

Guernsey 2016 Discovery 4 3.0 SDV6 Landmark LE Auto Santorini BlackDiscovery 4

Secondhand market only reflects base cost price of model, would get to complicated with extras added into equation. PCP is only reflecting the reality of this situation.

Always better for residuals to by a higher spec model than lower spec with extras.

Any monies spent on extras is just thrown away, the only slight upside is that it should sell quicker, albiet at the same price, in secondhand mkt as it will have more appeal over base specked model Thumbs Up
 D4 Landmark MY16 Santorini Black THE LAST
D4 HSE MY12 Marmais Teal: Gone. Missed a lot!
Freelander 2 SD HSE MY11 Silver:Thankfully gone.
D4 HSE MY11 Silver: Gone missed !
Range Rover Sport MY06 HSE Buck Blue: Gone missed!
Discovery D2 TD5 Facelift MY Red Gone Missed!
Discovery D2 TD5 Cobalt Blue: Gone Missed!
Discovery D1 Auto Oxford Blue Not missed at all!
Discovery D1 Avalon Blue First LR! missed!

Now demoted to a VW 
 
Post #177156730th Jan 2017 4:28 pm
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J77
 


Member Since: 03 Mar 2008
Location: Fife
Posts: 6261

Scotland 

The second hand market is a weird and wonderful place, my current D4 has a buyer already, wants a base spec Disco, which seem to be a rare thing, last time I checked there were none in my dealers network, my one has the added bonus of having xenons.
 23.5MY Defender 90 X-Dynamic SE D250 MHEV Pangea Green  
Post #177157030th Jan 2017 4:34 pm
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riverblanche
 


Member Since: 31 Aug 2010
Location: retford'ish
Posts: 2206

England 2008 Discovery 3 TDV6 HSE Auto Java BlackDiscovery 3

Hi,
Don't think it is just L/R that does this, last company car was a Mondeo, you could add extras Thumbs Up

But you had to pay the cost off, over the next three years, (4 year lease) you got nothing back Big Cry

You just had to decide What you really wanted, I added nothing Rolling Eyes
 Transit! 2019
Gone D3 HSE 2008
Another Porsche Cayenne 2022
Gone Porsche Cayenne 2020
Gone RRS HSE Dynamic 2016
Gone RRS HSE LUX 2011
Gone RRS HSE 2006
Gone D3 SE 2.7 2008
gone D2 Td5 1999

I plan on living forever and so far so good !

Club DG Mclaren stuff
 
Post #177157630th Jan 2017 4:53 pm
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LT
 


Member Since: 31 Dec 2005
Location: South West
Posts: 23261

United Kingdom 2016 Discovery 4 3.0 TDV6 Landmark LE Auto Santorini BlackDiscovery 4

Surely it's a bit different if you trade it in for another vehicle within the Land Rover marque? Then you have more scope to get a better price from the dealer. It's all about the cost to change.

If you plan to just hand it back, pay the balloon and start again with a different marque, it's a different matter.
 2006 D3 HSE (Original & still the best)-GONE
2010 D4 HSE (A bit bling)-GONE
2014 D4 HSE (Almost too bling)-GONE
2015 D4 HSE (A heated what?)-GONE
2016 D4 Landmark (Written Off)-GONE
2016 D4 Landmark (Surely the last!) PD1881 rims-GONE
2017 FFRR SDV8 Autobiography 
 
Post #177158330th Jan 2017 5:04 pm
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J77
 


Member Since: 03 Mar 2008
Location: Fife
Posts: 6261

Scotland 

If your car has say £3k of options you'll never get that added on trade in. It's still an HSE or SE whatever may be and that's how it's valued options mean nothing to a dealer until it sits on their forecourt.
 23.5MY Defender 90 X-Dynamic SE D250 MHEV Pangea Green  
Post #177162630th Jan 2017 6:09 pm
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LT
 


Member Since: 31 Dec 2005
Location: South West
Posts: 23261

United Kingdom 2016 Discovery 4 3.0 TDV6 Landmark LE Auto Santorini BlackDiscovery 4

Depends on how keen the dealership is to sell you a new LR Whistle
 2006 D3 HSE (Original & still the best)-GONE
2010 D4 HSE (A bit bling)-GONE
2014 D4 HSE (Almost too bling)-GONE
2015 D4 HSE (A heated what?)-GONE
2016 D4 Landmark (Written Off)-GONE
2016 D4 Landmark (Surely the last!) PD1881 rims-GONE
2017 FFRR SDV8 Autobiography 
 
Post #177163130th Jan 2017 6:18 pm
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J77
 


Member Since: 03 Mar 2008
Location: Fife
Posts: 6261

Scotland 

Or friendly with the dealer principal Wink
 23.5MY Defender 90 X-Dynamic SE D250 MHEV Pangea Green  
Post #177163630th Jan 2017 6:23 pm
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petersw
 


Member Since: 17 Nov 2012
Location: Norfolk
Posts: 1135

United Kingdom 2013 Discovery 4 3.0 SDV6 HSE Auto Orkney GreyDiscovery 4

Go to "value your car" on Landrover site
Options important
 Peter  
Post #177163830th Jan 2017 6:24 pm
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J77
 


Member Since: 03 Mar 2008
Location: Fife
Posts: 6261

Scotland 

According to LR my SEs worth at best £32,200, only 7000 on the clock Shocked think I'll keep it at that price.

Selling them for £37k
 23.5MY Defender 90 X-Dynamic SE D250 MHEV Pangea Green  
Post #177169830th Jan 2017 7:24 pm
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RDR
 


Member Since: 24 Mar 2013
Location: Derbyshire
Posts: 2260

United Kingdom 2016 Discovery 4 3.0 SDV6 HSE Lux Auto Corris GreyDiscovery 4

BMW PCP calculates residuals with options, adding some that are desirable can make for a better GFV.

Landrover don't but they do PX on a 1-1 basis. Dealers wont offer you pound for pound on extras obviously but nice extras or a "fully loaded" appeals to the buyers so they will be more willing to cut a deal. My dealer always says strip it bare of things like racks, ladders, flaps and mats.
 MY06 S - Gone but not forgotten
MY12 HSE - Gone
MY16 HSE Luxury - Sold
MY20 D5 HSE - Sold
Current RR L460 PHEV 
 
Post #177171830th Jan 2017 7:41 pm
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J77
 


Member Since: 03 Mar 2008
Location: Fife
Posts: 6261

Scotland 

My dealer has a couple of customers who don't want fancy high spec Discos, they want basic ones and they can't get them, so should work in my favour if the prospective buyer for my one pulls out.
 23.5MY Defender 90 X-Dynamic SE D250 MHEV Pangea Green  
Post #177175230th Jan 2017 8:12 pm
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fat bloke
 


Member Since: 07 Aug 2006
Location: OXFORD
Posts: 1243

United Kingdom 2015 Discovery 4 3.0 SDV6 SE Auto Santorini BlackDiscovery 4

I have same spec SE as yourself without the Xenons,i always thought Extra's mean nothing in trade in as next person might not need it but look at it as a bonus?.
My dealer local always buys in top end cars HSE/LUX etc at the moment i getting emails and calls about buying new and get good deals against any model.
Said that now L/R have ruined the new Discovery coming out sadly it don't float my boat at moment and being similar to others in L/R, i will keep mine for now and perhaps look at new Defender.The salesman was then quiet and didn't say to much else after as if he has heard it before from other customers?
  
Post #177176830th Jan 2017 8:46 pm
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