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I'm wondering whats the collective opionion in funding the FPace here - apart from those who are able to go down the outright cash route - i've had the finance chat with the dealer for PCP over 4 years 10k miles £15k deposit at £750+/month for an SC speced to £66k.

However, online leasing companies are coming in with similar numbers but a lot lower deposit say £5k.

I cant get my head around all the upfront deposit cash + the high monthly costs PCP rather than maybe going down the leasing route? Am i missing anything obvious for reducing monthly outlay? apologies if this has been raised before.
 

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On a PCP you will pay a lot more interest, always a bug bear for me with dealers is that they call the final payment something like 'guaranteed future value' but you are actually paying full wack interest on that amount as well as the portion you are paying back whereas a lease normally they don't take that into account so much, what are they quoting your final payment?
 

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Hi Jayzeer.

What APR are you being quoted and what's the GFV?

Leasing can often be cheaper than a purchase agreement but that's usual the case with cars that have been on the market a few years where the leasing company negotiates a hefty discount up-front.

The biggest cost of running a car is of course depreciation. With a lease this is a fixed cost, as you never own the car. With a PCP you have the option of owning the car and your deposit on the next car will be the difference between the GFV and the actual value at that point.

Given your figures, if the monthly payments are the same (for the same spec vehicle) then you would need the actual value of the car to be £10k higher than the GFV for the PCP to work out cheaper. Jaguar do set their GFVs lower than say Audi or Porsche, but even so that's quite a delta you are relying on.

Downside of a lease is they can be costly to get out of - usually up to 50% of the remaining payments - so if your circumstances change it could be awkward. Also it's worth checking the 2 and 3 year terms on a lease, as sometimes they are no more expensive than a 4 or 5 year.

Also, get a PCP quote from another finance company. If you've got a very good credit rating you might get a better deal than Jaguar Finance (which is underwritten by Lloyds)

Hope this helps.
 

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Me again.

Which lease company gave you that quote. I've just tried a few for my spec car (3.0d S, £61k, over 4 years) and all came up with a very similar quote of £770 per month with roughly a £10k deposit.

Compare that with my PCP offer which is £540 per month with a £20k deposit and you will see that the cost over 4 years is very similar. My GFV is £22k which (if it follows anything like my Evoque) I'm sure will be quite a bit under market value, so it makes the PCP deal more attractive in my case.

Would be very interested to get a lease quote from the company you used ....
 

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just as a note I'm getting a much better APR via lloydsbank.com directly (4.3%) compared to Jaguar Finance (6.8% IIRC)
 

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Hi jinjin

I'm looking at that too (Lloyds Flex Car Finance - APR 4.3%) - the final payment is much lower (£16k as opposed to £22k) but the monthly payments higher (£601 vs £540) .. will probably still go for it as only £61 per month more over 4 years = £2,900, means an overall saving of £3k .. not to be sniffed at!
 
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