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Aug 24th, 2023
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Joined: Sep 2012
Posts: 1,959 Likes: 15
Talk Morgan Enthusiast
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Talk Morgan Enthusiast
Joined: Sep 2012
Posts: 1,959 Likes: 15 |
Just have to bear in mind that any options you add to the vehicle will in general not reflect in the residual value the finance company places on it, so you can very easily double the monthly payment, especially on a 24 month term. 6k /24 =£250 per month. General rule of thumb.
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Joined: Oct 2019
Posts: 5,044 Likes: 312
Charter Member
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Charter Member
Joined: Oct 2019
Posts: 5,044 Likes: 312 |
Non-ownership could hit the 'bling and upgrades' sector pretty hard
K
Last edited by Image; 14/06/20 10:49 AM.
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Joined: Apr 2013
Posts: 117
L - Learner Plates On
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L - Learner Plates On
Joined: Apr 2013
Posts: 117 |
Most younger people seem to buy on PCP so the fact the new car is modern and and with reasonable PCP it may attract some younger buyers. Something Morgan needs if it is to survive in the longer term when us dinosaurs start to get too old to get in & out of a Morgan. PCP is the way most cars are purchased, essentially the customer pays for the depreciation, plus interest on the capital sum. With Morgan's traditionally high residual values the depreciation is trivial, hence the very low PCP payments. A £75,000 car for £300 a month: unheard of. Buying cars for cash is so yesterday... But in reality it’s £917 a month taking into account deposit. Agree it’s how people buy cars these days though. In run up to Xmas last year Aston were doing the £140k Vantage for £24k over 2 years. Now that was a bargain.
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Joined: Jun 2013
Posts: 1,461
Has a lot to Say!
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Has a lot to Say!
Joined: Jun 2013
Posts: 1,461 |
Review of the manual Plus Four in Daily Telegraph today - very positive! Andrew English has done a much better job than the Autocar reviewer, which is no surprise.
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Joined: Nov 2017
Posts: 697 Likes: 7
Talk Morgan Regular
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Talk Morgan Regular
Joined: Nov 2017
Posts: 697 Likes: 7 |
Top gear have given a positive verdict. They like the manual the best as apposed to one of the other reviews which liked the auto. They must have done something right if there is a split decision. https://www.topgear.com/car-reviews/morgan/plus-four-2020
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Joined: Aug 2013
Posts: 15,794 Likes: 14
Formerly known as Aldermog Member of the Inner Circle
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Formerly known as Aldermog Member of the Inner Circle
Joined: Aug 2013
Posts: 15,794 Likes: 14 |
Top Gear 8/10.... I think that is a first for Morgan!
All the reviews are positive, no one dislike anything of substance. Morgan and the Investors must be very happy.
Now all they have to do is build them.
What will we see at Geneva next year? Something exotic on the chassis, an AeroFour and AeroSix perhaps, or even a new take on a MaxSix?
Peter,
66, 2016 Porsche Boxster S
No longer driving Tarka, the 2014 Plus 8...
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Joined: Jul 2007
Posts: 26,748 Likes: 419
Member of the Inner Circle
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Member of the Inner Circle
Joined: Jul 2007
Posts: 26,748 Likes: 419 |
What a nice review. I still worry about the lack of storage in car & the seats.
JohnV6
2022 CX Plus Four
2025 MG ZS EV aka Trigger
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Joined: Sep 2009
Posts: 7,342 Likes: 91
Talk Morgan Guru
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Talk Morgan Guru
Joined: Sep 2009
Posts: 7,342 Likes: 91 |
Yes it is very positive and fair, plus they do not have to hesitate to compare her with the modern alternatives regarding road handling.
'14 4/4 graphite grey
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Joined: Nov 2015
Posts: 7,894 Likes: 241
Just barreling along Talk Morgan Guru
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Just barreling along Talk Morgan Guru
Joined: Nov 2015
Posts: 7,894 Likes: 241 |
The thing is with the price, maybe the new Morgan owner/demographic won’t be getting his car in the same, traditional way that most of us did I.e. cash or a bank loan.
The new Plus Four is available on PCP, I had a speculative e mail from Oakmere in the week saying that £14,000 down and £299 per month would get you in the drivers seat of a new Plus Four. I seem to recall it was for 2 years then there was a big balloon payment or return the car. So you could be trolling around in a Morgan for a couple of years for less than £22,000. If you like the car then refinance the balloon payment, if it’s not for you then return the car.
Hence I think the vast majority of conquest purchasers will think the headline price unimportant as the monthly’s are very low, aligned with a significant but not stupid deposit.
The example above was for the base model, the car shown in the picture they supplied was still only £299 per month but the deposit was £18,000 so it seems the cost of options must be paid for in full up front .
I’m still sticking with my Plus 4 but if I was looking for a new Morgan, the PCP offer would look very attractive, and the headline price irrelevant. Will be interesting to wait two years and see what is dumped into the used market when the PCP deals end and they decide to return it Most PCP finance co's use auction houses that only the trade can bid at, so some potentially cheap used CX cars ? and will it hit the usually strong residual values of Mogs ?
Jon M
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Joined: Jun 2012
Posts: 2,141 Likes: 43
Talk Morgan Expert
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Talk Morgan Expert
Joined: Jun 2012
Posts: 2,141 Likes: 43 |
Top Gear 8/10.... I think that is a first for Morgan! M3W also 8/10.
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