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-   -   Options on getting a GT-R (https://www.gtr.co.uk/forum/151287-options-getting-gt-r.html)

bhavin85 12th May 2011 02:25 PM

Options on getting a GT-R
 
Hi All,

Newbie to the forum...been lurking for a few weeks and reading all the topics about the GT-R I am now looking into getting one :clap:

Currently own a modded 350z and have had it for 3 years...love every minute of it but looking for something with more power and the GT-R seems the sensible way to go :thumbsup:

I am not in a position to pay for my GT-R fully in cash so am looking into finanace...I have had a HP car before but never done a PCP...reading on the web I have a few questions and seeing as there are a few chaps here that seemed to have done it...can someone explain a few things to me ?

The quote :
Vehicle Price 42,000.00
Total Deposit 15,000.00
Balance to finance 27,000.00
First payment 533.32
Followed by 34
Regular monthly payments 384.32
Followed by a final payment 21,044.81
Term of agreement 36
Total Amount Payable 49,645.01
APR 11.15%
Total Interest Payable 7,347.01
Option to purchase fee ** 149.00
Acceptance fee * 149.00
Based on annual mileage of *** 7000


Right so I understand the basics...I pay a deposit and a monthly until the 26the month when I will have to pay 21,044.81 if I want to keep the car...

However if I decided to hand the car back to the finance company after 3 years and the value of the car is say 30k...how much am I left with or left to pay ? That is the part I cant seem to get my head around.

Sorry if this is in the wrong section....any help is much appreciated :wavey:

christer 12th May 2011 02:47 PM

You have a similar agreement to what I have, but let me tell you straight off the bat that the interest is waaaay too high. I am paying around 5% APR on mine.

I think my figures were:

purchase price 48K
deposit around 19k
36 month agreement at 406gbp per month
I opted for lower ballon of around 18.5k (but was offered up to 23k afair).

If you want I can see whether my asset finance guys are taking on more business because 11%+ is taking the piss unless you have a bad credit rating?

christer 12th May 2011 02:48 PM

p.s. at 36 months you are left with what your car sells for minus the final payment.

Adamantium 12th May 2011 02:55 PM

If you pay the final payment.

You walk away or you pay the final amount.

if the car is worth a lot more, it makes sense to pay it and then sell it. If it's worth less, you hand it back. That's the beauty of a pcp as you always know where you stand and have no risk at the end, but you pay more for the security of being able to walk away.

It used to be that main dealers would value the car come hand back time, and give you the positive difference as a deposit towards the new car as an incentive to keep you in the brand, but I'm not sure they do that anymore.

bhavin85 12th May 2011 02:59 PM

Hi,

Thanks that was from Nissan themselves I just used it as an example so someone could explain what Id be left with at the end of it all.

So if I sold the car at 30k...and my final payment is 21k id be left with 9k

so the cost of the car would be 6k (ive lost from the deposit) plus 13.6k in monthly payments ?

Just want to make sure my maths works out :)

Christer - If you can drop me a pm with their details I am happy to contact them myself :thumbsup:

Adamantium 12th May 2011 03:45 PM

Your maths look right, but please don't bank on the car being worth 30k in another three years.

12k in depreciation in three years would be fantastic if it really is achievable.

christer 12th May 2011 04:12 PM

Quote:

Originally Posted by Adamantium (Post 1458198)
Your maths look right, but please don't bank on the car being worth 30k in another three years.

12k in depreciation in three years would be fantastic if it really is achievable.

I think the GTR will hit quite a hard floor due to being such a lot of car for the money with no obvious relability flaws shown so far. 30k in 3 years who knows?

DWC 12th May 2011 05:36 PM

You guys have answered all the questions but deffo APR to high. I would have thought 8% more realistic from a Nissan dealer. They have quite a bit of movement normally and that sounds like a starting point APR. So go beat em down buddy. Mind blowing car and well worth 300 a month ish.:thumbsup:

de wonderful 12th May 2011 08:13 PM

Quote:

Originally Posted by christer (Post 1458208)
I think the GTR will hit quite a hard floor due to being such a lot of car for the money with no obvious relability flaws shown so far. 30k in 3 years who knows?

I don't see it holding value like the 34 GTR is doing.

Cutting edge cars also date fast and unless they achieve rare and classic status won't hold value.

Just my 2 pence....

JoZeff 12th May 2011 11:40 PM

What you must do is play Nissan finance off against another finance company or even a fictitious one. I got my monthly payments down with the same deposit and very similar balloon payment from an initial 850 per moth to 470! Just by saying I had a better deal elsewhere. Oddly enough it was also cheaper over 24 mnths than 36.
Also each pcp finance agreement comes with a minimum future value so if it's actually worth more sell and pay off the balance if it's worth less drop the keys off to the finance company it's there problem.


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