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Hi Guys, I'm thinking over paying part cash(£15k), part Sainsbury's loan (£25k) and the rest PCP (25k) and wondered what your thoughts are? I'm thinking Sainsbury's loan is 3.0apr vs Land Rover finance at 6% plus. Does anyone know of this works on practice or am I just better putting my deposit down and taking dealer PCP finance until I can refinance it all with more cash and a loan?

Also when I looked at Tesla it made more sense to take the PCP over 10,000miles and pay the extra over rate at 7p per mile. Does anyone know if that is the same with LR?

Any tips would be much appreciated!! Thanks!
 

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Overall cost of purchase is what you want to look at. If the loan(s) are over 3 years for example, look at total cost to buy inc interest on pcp, vs pcp and Loan. You will need to take into account how much is still owed on the car at the 3 year point of course.

If I had to take a guess, Loan and pcp will be less as you are repaying more capital, however your monthly cost will be higher.

Some want the cheapest cost possible to rent their vehicle, some want to actually pay off the debt they have on the car, so depends which camp you fit in.
 
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