Finance tool disappeared from Lotus website (Edit - Now working)

[Tonyshepp]

I see…

If you look at what’s advertised used the rates and monthlies are shocking! I.E. really high and as an equivalent a V8 vantage of similar value is cheaper on the monthlies.

The long term used values will depend on the deals being offered and the finance rates. Whilst some will buy cash; the majority will not. Many with the cash Wouid rather pay a sensible monthly and keep the cash to invest or keep same for other things.

Encouraged by the string balloon albeit will be keeping an eye on this for rate changes and used market. Looking forward to hearing something about the i4. With it coming in £4K less to start with than a V6 it’s a healthier starting point. Be interesting to see how they compare against each other in a used market into the future. Early flippers will no doubt chance their hand on i4 but with the first batch containing 75 cars of which mine along with a few other members on here are part of this; there won’t be many cars around.

Doesn't the higher option to purchase value just mean you pay more to own the car at the end of the agreement. Lets say you put 20k down you finance 60k with interest and depreciation. The overall purchase value (on PCP) is now 2k higher if you buy the car at the end of the period then it was a month ago indicating maybe that Lotus have enough demand through PCP orders that they don't need to increase the price instead relying on the PCP orders to provide them with more revenue.
For reference the Halifax PCP comes in at 8k cheaper ( with purchase at the end ) then Lotus are offering with the difference being Halifax's option to purchase value is much lower.

The lowest depreciating car will be the Base I4 as its rare for the market to put much value on the optional extra's.

 

[Dommo]

Doesn't the higher option to purchase value just mean you pay more to own the car at the end of the agreement. Lets say you put 20k down you finance 60k with interest and depreciation. The overall purchase value (on PCP) is now 2k higher if you buy the car at the end of the period then it was a month ago indicating maybe that Lotus have enough demand through PCP orders that they don't need to increase the price instead relying on the PCP orders to provide them with more revenue.
For reference the Halifax PCP comes in at 8k cheaper ( with purchase at the end ) then Lotus are offering with the difference being Halifax's option to purchase value is much lower.

The lowest depreciating car will be the Base I4 as its rare for the market to put much value on the optional extra's.

The higher the 'option to purchase' the lower the monthly payments because with a PCP you basically pay the depreciation during the loan period. So if the car is £80k and the future value after 4 years is £60k then you pay £20k plus interest over 4 years. If the future value is £70k then you only pay £10k (plus interest) over 4 years.

I'd be interested to see the Halifax PCP

 

[Tonyshepp]

The higher the 'option to purchase' the lower the monthly payments because with a PCP you basically pay the depreciation during the loan period. So if the car is £80k and the future value after 4 years is £60k then you pay £20k plus interest over 4 years. If the future value is £70k then you only pay £10k (plus interest) over 4 years.

I'd be interested to see the Halifax PCP

But on the Lotus site they are charging you interest on the total 60k loaned not the lower option to purchase value.
see line total amount of credit and total charge for credit. SO by making the optional purchase value higher the cost to own the car outright is higher.

 

[Dommo]

But on the Lotus site they are charging you interest on the total 60k loaned not the lower option to purchase value.
see line total amount of credit and total charge for credit. SO by making the optional purchase value higher the cost to own the car outright is higher.

View attachment 20819

Sorry, I should've explained a bit better.

The loan is always based on the full cost of the car (plus interest) minus your deposit. Then the 'option to buy' is taken off the overall payments.

So in the example you've shown here

£79,515 Cost of car
£20,200 Deposit
£59,315 Remaining balance after deposit
£18413.11 Interest on loan
So total to pay over the 48 months is £59,315 + £18413.11 = £77,728.11
Then £77,728.11 minus 'option to buy' £48018 = £29710.11
£29710 over 47 months = £632.13 per month

So if the 'option to buy' was higher then the balance of the loan is less

 

[Tonyshepp]

Sorry, I should've explained a bit better.

The loan is always based on the full cost of the car (plus interest) minus your deposit. Then the 'option to buy' is taken off the overall payments.

So in the example you've shown here

£79,515 Cost of car
£20,200 Deposit
£59,315 Remaining balance after deposit
£18413.11 Interest on loan
So total to pay over the 48 months is £59,315 + £18413.11 = £77,728.11
Then £77,728.11 minus 'option to buy' £48018 = £29710.11
£29710 over 47 months = £632.13 per month

So if the 'option to buy' was higher then the balance of the loan is less

get ya thanks for explaining it!

 

[DJS]

A PCP deal is the perfect solution for helping you live above your means

 

[ChrisJ]

Sorry, I should've explained a bit better.

The loan is always based on the full cost of the car (plus interest) minus your deposit. Then the 'option to buy' is taken off the overall payments.

So in the example you've shown here

£79,515 Cost of car
£20,200 Deposit
£59,315 Remaining balance after deposit
£18413.11 Interest on loan
So total to pay over the 48 months is £59,315 + £18413.11 = £77,728.11
Then £77,728.11 minus 'option to buy' £48018 = £29710.11
£29710 over 47 months = £632.13 per month

So if the 'option to buy' was higher then the balance of the loan is less

Giving actual average monthly outlay of £1,040 per month over the 4 years. Interesting cost per mile during the winter months.

 

[Dommo]

Giving actual average monthly outlay of £1,040 per month over the 4 years. Interesting cost per mile during the winter months.

Obviously that’s worst case scenario as the ‘option to buy’ will be set unrealistically low by Lotus but certainly opens your eyes if you really delve too deep into the costs!

 

[Dommo]

A PCP deal is the perfect solution for helping you live above your means

If you can afford the monthly payments then technically it’s within your means. And if you can afford higher monthly payments but don’t have £80k in cash then HP is a far cheaper way to borrow.

 

[Hell4Leather]

If you can afford the monthly payments then technically it’s within your means. And if you can afford higher monthly payments but don’t have £80k in cash then HP is a far cheaper way to borrow.

Does Lotus offer special financing for North America or just U.K.? It seems
U.K. has more creative solutions than the USA’s low %apr for extended periods. Of course, if I could get 1.9% for 84 months I’d add an Eletra for the wife.