Fendt at huge reduction!!!

[startinghandle]

Weekly there are comments here about extortionate prices for machinery but I see on
RVW Pugh website a special offer for new Fendt with list
price of £113,000 but reduced to £64,000 unless I read it incorrectly as I am watching
A+E on tv at same time

 

[Muddyroads]

The usual nonsense of meaningless list prices (RRP) as opposed to the actual price.

 

[jack6480]

Wouldn’t believe anything them lads spout

 

[Muddyroads]

In fairness there do seem to be deals available on Fendt at the moment.

 

[Clive]

Some finance examples I see advertised (usually combines) often contain a deposit assumed to be paid for by the trade-in hidden away in the small print - It's rather misleading IMO when they do this


what model is this advertised ? a new 724 is more like 140k after discount

 

[daveydiesel1]

Some finance examples I see advertised (usually combines) often contain a deposit assumed to be paid for by the trade-in hidden away in the small print - It's rather misleading IMO when they do this

Claas used to do this with newspaper adverts sayin own a new claas xxx series for xxx per month over 48 months which looked good value but In the small print it was only 50% of the tractor cost

 

[Cowabunga]

There's one on the 'Offers' page ....

New Fendt 824 Power Version
240hp, 50kph

yours for £132,000!!

Or you can take advantage of our 0% finance offer...
One-off payment of £62,607.12
Followed by 22 monthly payments of £4358.31

However, if you add those figures up it comes to very near £158,500, which is quite a bit more than £132,000 so it is a bit disingenuous to print it under "our 0% finance offer" headline. The reason is, of course, that £132k is way more than 50% of the list price. However £62,607.12 is being paid in advance, so the actual amount financed is 'only' £69392.88, which is way way under 50% of retail. Retail is £209,200.

There's surely no justification for charging £26500 in interest for a 24 month loan of under £70k. I mean, it's nearly 40% of the amount borrowed or £20% per year. It would be cheaper to put the £70,000 on most credit cards. Nice little earner if you can get away with it though.

If this is taking advantage of 0% finance I dread to think how much 'normal' rates would be.

 

[daveydiesel1]

Weekly there are comments here about extortionate prices for machinery but I see on
RVW Pugh website a special offer for new Fendt with list
price of £113,000 but reduced to £64,000 unless I read it incorrectly as I am watching
A+E on tv at same time

What model is this?

 

[daveydiesel1]

There's one on the 'Offers' page ....

New Fendt 824 Power Version
240hp, 50kph

yours for £132,000!!

Or you can take advantage of our 0% finance offer...
One-off payment of £62,607.12
Followed by 22 monthly payments of £4358.31

However, if you add those figures up it comes to very near £158,500, which is quite a bit more than £132,000 so it is a bit disingenuous to print it under "our 0% finance offer" headline. The reason is, of course, that £132k is way more than 50% of the list price. However £62,607.12 is being paid in advance, so the actual amount financed is 'only' £69392.88, which is way way under 50% of retail. Retail is £209,200.

There's surely no justification for charging £26500 in interest for a 24 month loan of under £70k. I mean, it's nearly 40% of the amount borrowed or £20% per year. It would be cheaper to put the £70,000 on most credit cards.
If this is taking advantage of 0% finance I dread to think how much 'normal' rates would be.

How can they advertise 0% if its chargin interest? Surely thats totally illegal? Also if u went with a cheque for 132,000 k would u get the 824 for that?

 

[Muddyroads]

A 211

Pughs News July Aug 2020 print ready

Pughs News July Aug 2020 print ready

fliphtml5.com

 

[neilo]

Claas used to do this with newspaper adverts sayin own a new claas xxx series for xxx per month over 48 months which looked good value but In the small print it was only 50% of the tractor cost

I think all the 0% finance deals (that are usually used to produce those low monthly payment quotes) I’ve seen have been for a maximum of 50% of the purchase price.
That’s fine if that scenario works for you of course, but more than a bit of license is used by those advertising such deals.

 

[startinghandle]

I have read it again
Fendt 211 vario with axle and cab suspension and loader
Only one available
0% finance
T+C apply

 

[Muddyroads]

There's one on the 'Offers' page ....

New Fendt 824 Power Version
240hp, 50kph

yours for £132,000!!

Or you can take advantage of our 0% finance offer...
One-off payment of £62,607.12
Followed by 22 monthly payments of £4358.31

However, if you add those figures up it comes to very near £158,500, which is quite a bit more than £132,000 so it is a bit disingenuous to print it under "our 0% finance offer" headline. The reason is, of course, that £132k is way more than 50% of the list price. However £62,607.12 is being paid in advance, so the actual amount financed is 'only' £69392.88, which is way way under 50% of retail. Retail is £209,200.

There's surely no justification for charging £26500 in interest for a 24 month loan of under £70k. I mean, it's nearly 40% of the amount borrowed or £20% per year. It would be cheaper to put the £70,000 on most credit cards.
If this is taking advantage of 0% finance I dread to think how much 'normal' rates would be.

Does that payment include the VAT?

 

[daveydiesel1]

A 211

Pughs News July Aug 2020 print ready

Pughs News July Aug 2020 print ready

fliphtml5.com

The 7720s for 84k seems not bad money for today?

 

[Cowabunga]

How can they advertise 0% if its chargin interest? Surely thats totally illegal? Also if u went with a cheque for 132,000 k would u get the 824 for that?

£132k is the price they quote for a cash deal, so yes. It is illegal to offer money in lieu, so that is the figure whether a cash deal or on finance.

Here is a link to their 'offer' so you can work it out for yourself and point out my mistakes, if any.

Home Page - RVW Pugh

RVW Pugh specialises in Massey Ferguson, selling both farm machinery. We also offer parts, servicing, groundcare equipment and tools.

www.rvwpugh.co.uk

 

[Muddyroads]

It’s the 0% on max of 50% of the RRP that I don’t get. They set an artificially high RRP so that once a deal is done it’s pretty much half that figure, so 0% can be given on the price to change. Yet it’s their own in-house finance company, so who are they “kidding”?

 

[Cowabunga]

Does that payment include the VAT?

Of course not. VAT to be paid up front and on top of figures quoted. Nobody quotes tractor finance to include VAT.

 

[Muddyroads]

Of course not. VAT to be paid up front and on top of figures quoted. Nobody quotes tractor finance to include VAT.

If you read the italics in the link that you posted above, it says the first payment includes the VAT.

 

[tepapa]

Here is a link to their 'offer' so you can work it out for yourself and point out my mistakes, if any.

Home Page - RVW Pugh

RVW Pugh specialises in Massey Ferguson, selling both farm machinery. We also offer parts, servicing, groundcare equipment and tools.

www.rvwpugh.co.uk

Have you accounted for vat and the first two month's payment and document fees included in the down payment?

 

[Cowabunga]

If you read the italics in the link that you posted above, it says the first payment includes the VAT.

Oh crikey, you are correct, it does. What a peculiar way of quoting the figures. Specifically designed to confuse. It is however the figure that the purchaser would pay less the probable part exchange at trade value, but they would be able to claim the VAT back. The figures are far more agreeable now. The £26400 which I thought was interest is actually the VAT and there's a little bit extra, amounting to less than £100 for the documentation fee.

Not so bad a deal after all. Form an orderly now!