Finance rate "under review"

[MPD]

wow, 7.9 is crazy rate that I didn't think I would ever see in my lifetime of buying vehicles. In the US, several of the credit unions I use/used are all 5%/60mo. Going to 7.9 would be about $100/mo more but like $6k in more interest. I set aside cash in case the 2-3% that were readily available early this year weren't going to be around anymore. Would be great if Lotus subsidized x amount of early depositers but realize that isn't a good business move .... while it would be an excellent customer service move

 

[DJS]

There might be some good second hand deals in a couple of years…….. if you don’t mind waiting for your car!

Ive already waited a couple of years lol

 

[Tonyshepp]

Ive already waited a couple of years lol

And it sounds like some cars leaving Hethel are as good as being second hand with the faults on them,..

 

[Lots_Of_Trouble]

And it sounds like some cars leaving Hethel are as good as being second hand with the faults on them,..

Mine will be going back if its incomplete.
They've had long enough to iron out these issues.

 

[RENDERMAN]

or 10 if you live in spain...

That means only 6 people will own an Emira in Spain

 

[emiraspain]

That means only 6 people will own an Emira in Spain

there are about 10 current FE orders..approx.... who knows if a few will drop out...
then the none FE models ..and i4...Id say by the end of next year, there will at best be about 12 in the whole country yes...as some will go to portugal and the islands...and maybe andorra.... cheap tax there!!!

 

[RENDERMAN]

there are about 10 current FE orders..approx.... who knows if a few will drop out...
then the none FE models ..and i4...Id say by the end of next year, there will at best be about 12 in the whole country yes...as some will go to portugal and the islands...and maybe andorra.... cheap tax there!!!

I'm doing 6.4 with a 800+ credit score and had an argument with the finance guy thinking I was getting robbed! I see now...

 

[emiraspain]

I'm doing 6.4 with a 800+ credit score and had an argument with the finance guy thinking I was getting robbed! I see now...

ahhh maybe crossed purposes.. im talking about the number of cars.... not the finance rate, and the 10 initially was the deposit, not the rate .... My mortgages if anyone are interested is currently at 1.5%..... beat that....

 

[Tonyshepp]

ahhh maybe crossed purposes.. im talking about the number of cars.... not the finance rate, and the 10 initially was the deposit, not the rate .... My mortgages if anyone are interested is currently at 1.5%..... beat that....

No mortgage, beat that!

 

[Magicman]

ahhh maybe crossed purposes.. im talking about the number of cars.... not the finance rate, and the 10 initially was the deposit, not the rate .... My mortgages if anyone are interested is currently at 1.5%..... beat that....

My fixed rate is at 1.8% but that runs out in January thankfully its only got 18mths left.

 

[Forlorn]

But manufacturers are subject to some eye-watering inflation on components and raw materials at the moment (30%+ on some), plus increasing energy costs and labour rates. Margins aren’t great (unless you’re Porsche), so opportunities to trim margins to maintain prices to consumers are limited. I’d expect most new car prices to increase into next year.

Most manufacturers don’t control the rates of their finance schemes and so are subject to the general increases. It’s going to get tough for car buyers over the next 6-12 months.

I think there is going to be a kick back from customers on the cost of cars, particularly on Electric vehicles, which are really shocking. (Excuse the pun).

My Xc60 I bought new in 2018 was £40k same car now just about is over £60k. This is same for all cars.

We should bring this up with all those visiting Davis next year. They are certainly getting their way, under the great reset.

 

[RENDERMAN]

ahhh maybe crossed purposes.. im talking about the number of cars.... not the finance rate, and the 10 initially was the deposit, not the rate .... My mortgages if anyone are interested is currently at 1.5%..... beat that....

oh sorry, my bad, too early for me, everyone talking about financing rates changing..

 

[emiraspain]

No mortgage, beat that!

14 properties..... just 2 mortgages...


no just kidding... ive only got 13

 

[emiraspain]

14 properties..... just 2 mortgages...


no just kidding... ive only got 13

if that was true... i think i would not be getting an emira....

 

[RENDERMAN]

if that was true... i think i would not be getting an emira....

True that ,Evija...

 

[Jonhklee]

PCP rates going wild…..
only thing keeping me in now is Base Spec and buying with lower rate loan with a larger deposit.

 

[New to Lotus]

Just been on latest configurator and with a max deposit the cheapest monthly I can get is 290 a month, when I put my deposit down you could get 70 a month with a max deposit.
Lotus are going to struggle as are many other car manufacturers maybe time to get a second hand car after all, could they continue to climb.
Crazy

 

[Leonard]

Just been on latest configurator and with a max deposit the cheapest monthly I can get is 290 a month, when I put my deposit down you could get 70 a month with a max deposit.
Lotus are going to struggle as are many other car manufacturers maybe time to get a second hand car after all, could they continue to climb.
Crazy

This is what I had in mind when forced to move to PCP.
Max deposit and 70 pounds. Easily justifiable.

 

[New to Lotus]

Not any more.
Fancy lending me the yaris?

 

[Pops68]

Seems we are heading back to the days of “ Cash is King”

That's where we ought to be if we were smart! I'm guilty too of using credit as a way to get stuff I would otherwise have to wait for! When my investments were making a better return than the interest I would pay on debt it made sense! Now with the combination of investment loss and returns smaller than credit rates it really doesn't make any sense to go into more debt on a toy. It's a matter of emotion over common sense right now and common sense says run away. My only other consideration is I'm getting older and may not have that many good driving years left. That might over-ride the smart side of my brain... or not...