Talk Morgan Forums Morgan Sports Cars Morgan Plus Four, Supersport & Plus Six (CX & CXV Generation Vehicles) CX cars - how are they purchased?

Several here in the forum wrote that Morgan had to switch to the CX to survive. Only time will tell if that is true. None of us knows whether Morgan will make enough money with the CX in the long term. Not only the high costs of warranty repairs speak against it. Morgan could have gone a different route. Imagine if Morgan had never touched an aluminum chassis, never carried out expensive racing experiments (Charles), never relaunched the MTW. Only continue to build the trads in the best possible way. As a family business.Morgan would be financially healthy.
Certainly, Morgan may no longer supply some markets with new cars. This could have been compensated by having an Morgan restoration department at the factory. A bit like Ecurie Bertelli Aston Martin. After the future ban on internal combustion engines, a downsized Morgan plant would survive with restorations and the manufacture of continuation cars.

Although PCP has become very popular, it is essential to be aware of the true costs, as one can be dazzled by the prospect of affording a new car that would otherwise be inaccessible.
1. My friends who are on PCP invariably boast of the monthly payment and the residual value but never seem to mention the initial deposit, which once paid seems to melt into the background.
2. Excess mileage payments can add considerably to the overall costs.
3. The residual value can be marred by the car’s condition after 3 or 4 years use. (Not easy to pile on the miles in a Morgan and avoid stone chips.)
4. The level of any possible accrued equity, (which occurs if you have ended up paying more for depreciation than turned out to be necessary) which could be used to renew a contract is in the hands of the dealer; you cant shop around (unless you pay the balloon payment and then try to sell it elsewhere.)
5. Someone has to make money out of any credit scheme and it probably won’t be you.

Having said all this, if you strive for peace of mind and wish to own a car that you may otherwise not be able or willing to afford, PCP is the way to go. I am not poo-pooing the concept, but simply say…just do the maths first!

When it comes to owning something I want but don't really need, I can always seem to make the maths work. I suspect I'm not alone.

Some people (my nephew is one of them) thought you didn’t pay any interest on the balloon payment, which you do. This interest is included in the monthly payments.

Can work out very expensive with rising interest rates.

I considered myself very lucky , that 650 per month on a pcp isn’t that noticeable, therefore PCP works for me. You pay the money, have no maintenance costs because of warranty, insure, tax it and change the rubber and drive it all the time. I certainly don’t want to own it outright, because I know I’m going to hammer it.

Another example is the lorries and tractors we run. A new 300 hp fendt tractor , of which we have 5 , we change every 5000 hours or 3 years. They are on an equivalent to pcp. If we paid the ballon at end and the thing starts going wrong which it definitely will , we are into bills for maintenance for thousands. We got caught a few years back, 20k bill for gear box. A fixed monthly cost lets us know where we are from a budget perspective.

Lorries the same, 200k for new Scania, yet a payment of 2000 per month allows you to run smart new kit under full warranty with repairs and maintenance included. Then get an another new one. Even with interest rates going up, the extra interest is small in the big scheme of what the lorry is capable of earning you.

It will get that way that not many people will actually never own a vehicle outright.

I would guess most people on here, who would enter into a PCP, know exactly what they are signing up to.

I'm 72 and wear jeans and trainers!! And as previously posted I've recently gone over to the dark side ( as some would believe) in the purchase of a Plus Four after 45 years of continuous trad ownership. At the end of the day they are all Morgans a marque you either like or you don't!

I thought long and hard about a PlusFour, but in the end I turned to the Black Arts of Zuffenhausen......

A 2016 low mileage Boxster S bought on a 4 year classical HP deal, £450 a month. 2 years Porsche warranty and £1460 for the second 2 years.
Why?

I wanted a change, and I got fed up driving up the A46 to Williams, 90 mins each way.
The Porsche centre is 40 mins away, better coffee too.
But no spaniels.

Like a Morgan, it has character and kije the Plus 8 it makes me smile....and is cheaper to run and just as quick as the Plus 8.
I like to powered canvas roof, too.

These agile young Morgan owners really tick me off I always wear jeans but with the new car just invested in a pair of chinos helps me slide into the car a bit better and exit saves the bolsters, now where did I put my wrap rounds.....Em

I do hope your new chinos are red!

Am I right in thinking that the road tax for a Plus Four is £645........?