Jaguar F-Pace Forum banner
1 - 11 of 11 Posts

·
Registered
Joined
·
78 Posts
Discussion Starter · #1 ·
Hi All

I am reading that an interest rat cut is highly likely by the BOE. (0.5% to 0.25%)

I don't need my F Pace until May next year. Two questions

1. If I ordered an F Pace now would I be bound by the current interest rate (6.8%)
2. How long would you advise I wait until I order (I know the car and the spec)

Thanks

Jonny
 

·
Registered
Joined
·
302 Posts
to cover your points:

1) When car first announced and available to order, Jaguar rate was 5.9% .....this rate then time expired and increased whilst all of us with early orders waited for cars to actually be built - Jag then had the cheek to try to apply higher rate (to which they got push back from me) - So on this basis, whilst the logic suggests that they should follow same process and offer reduced rates, I would want something I writing from the finance manager.

2) Assume that you are taking into consideration the changes in VED for cars registered post March 2017 - For me I would be ordering to ensure that I get the car before the huge hike (if this was possible, otherwise you are setting yourself up for a significant increase in annual running costs for the sake of a 5-6 week delay).
 

·
Super Moderator
Joined
·
1,953 Posts
Hey Jonny, I'm not sure I'd be worrying about the difference between a half or a quarter percent considering the steep hike in Vehicle Excise Duty (VED) that is due to come in on new cars costing more than £40k from April next year. And that legislation is just as things currently stand, of course, another budget could throw up even more stringent penalties. The new rules are unlikely to get scrapped in the meantime.

If I were you, I'd be thinking of getting my order in and have the car delivered before April 2017, otherwise the £310 annual increase for the first five years, on top of the new £140 flat rate, is going to wipe out any interest rate cut benefits you might be hoping for. Check out the details on this AA website link, you'll need to scroll down the page a little way to find all the gory details of the bad news! :shock:

http://www.theaa.com/motoring_advice/car-buyers-guide/cbg_roadtax.html

It's just a thought for you...
 

·
Registered
Joined
·
78 Posts
Discussion Starter · #4 ·
Thanks Catwoman

Issue I have is that my company vehicle cannot be returned before May 2016 and I therefore wont be able to access my company car cash allowance until then. If I order and have two cars on the drive I will need to find the extra money which would be challenging!
 

·
Registered
Joined
·
458 Posts
Jonnyzander said:
Thanks Catwoman

Issue I have is that my company vehicle cannot be returned before May 2016 and I therefore wont be able to access my company car cash allowance until then. If I order and have two cars on the drive I will need to find the extra money which would be challenging!
Then the answer is a number - how long do you plan to keep the car and on what basis will you own and then dispose of the car? - the resale for these vehicles that are similar age but with different VED's may be an issue?
Calculate what it will cost you each way, and then do the math!
 

·
Registered
Joined
·
17 Posts
Jonnyzander said:
Hi All

I am reading that an interest rat cut is highly likely by the BOE. (0.5% to 0.25%)

I don't need my F Pace until May next year. Two questions

1. If I ordered an F Pace now would I be bound by the current interest rate (6.8%)
2. How long would you advise I wait until I order (I know the car and the spec)

Thanks

Jonny
Hi there,

As a Jaguar Retailer, I am probably best placed to answer your question regarding the 6.8% Interest Rate. In short, as long as you have an acceptance in place for the 6.8% rate, that is the highest rate you can be charged as you become 'rate protected'. If there interest rate reduces in such time, then you have the right to ask the retailer to re-propose your application under the new reduced rate - you aren't bound in any way to the higher rate of interest.

I hope that helps!
 

·
Registered
Joined
·
688 Posts
There are also other finance options available other then through jag. For example I have a quote at 4.4% from lloyds
 

·
Registered
Joined
·
1,711 Posts
catwoman said:
Hey Jonny, I'm not sure I'd be worrying about the difference between a half or a quarter percent considering the steep hike in Vehicle Excise Duty (VED) that is due to come in on new cars costing more than £40k from April next year. And that legislation is just as things currently stand, of course, another budget could throw up even more stringent penalties. The new rules are unlikely to get scrapped in the meantime.

If I were you, I'd be thinking of getting my order in and have the car delivered before April 2017, otherwise the £310 annual increase for the first five years, on top of the new £140 flat rate, is going to wipe out any interest rate cut benefits you might be hoping for. Check out the details on this AA website link, you'll need to scroll down the page a little way to find all the gory details of the bad news! :shock:

http://www.theaa.com/motoring_advice/car-buyers-guide/cbg_roadtax.html

It's just a thought for you...
Ouch, that's quite some penalty!!!
 

·
Super Moderator
Joined
·
1,953 Posts
Jonnyzander said:
I am reading that an interest rat cut is highly likely by the BOE. (0.5% to 0.25%)
Rate cut announced, so Mark Carney has granted you your base-rate wish Jonnyzander!

Personally, I don't think the rate reduction was the right thing to do, it's too soon to call what the economy is really going to do and it is leaving very little future wriggle room for any more surprises. I think today's cut could likely precipitate further adverse effects, particularly with the value of the pound and inflation pressure . . . but, hey, I'm not part of the MPC, they didn't ask me, it's just my intuition which says it was too soon to act, they should have just held steady, but what do I know?

So let's wait and see, 'cos in case you didn't notice, we've no other choice!....
 

·
Registered
Joined
·
78 Posts
Discussion Starter · #11 ·
It's my psychic sense Catwoman! I notice you own the car Iam looking to buy (albeit I am looking at ebony black, black pack and sunroof with black venoms)

How does it drive? What are your thoughts?
 
1 - 11 of 11 Posts
Top