Pegasus Finance

[Mase]

Has anyone used these to finance a camper?

The illustration on their website is 8.9% APR and you can do it over 15 years which gets the monthly cost down.

There’s not a ton of reviews though.

I’ll be borrowing £58k - if not Pegasus does anyone have any other finance companies they’d recommend?

 

[Barry Chuckle]

Has anyone used these to finance a camper?

The illustration on their website is 8.9% APR and you can do it over 15 years which gets the monthly cost down.

There’s not a ton of reviews though.

I’ll be borrowing £58k - if not Pegasus does anyone have any other finance companies they’d recommend?

Sadly money is a lot more expensive today than it was 18 months ago. 8.9% seems pretty typical of the rates at present, that said 15 years is a very long time to tie yourself to that rate for. If you're able it might be worth talking to a mortgage adviser to see if you could fund it that way instead as I'd guess the overall rate would be lower.

 

[larrylamb]

Shoot me down, tell me it's none of my business etc. but i believe you're looking at a nearly new Cali at up to £65K and borrowning 58k to buy it over 15 years? Unless you have good reason to do it this way seems an expensive maybe unaffordable purchase?
Not a dig, just questioning the logic.

 

[dspuk]

Shoot me down, tell me it's none of my business etc. but i believe you're looking at a nearly new Cali at up to £65K and borrowning 58k to buy it over 15 years? Unless you have good reason to do it this way seems an expensive maybe unaffordable purchase?
Not a dig, just questioning the logic.

Agree with @larrylamb - sounds a very expensive way to pay off a Cali. At that interest you're paying over the odds with a final cost to you at 105K for a 65K van. Assuming that is what you are buying - you never said.

Over 15 years you're paying it back slower than it depreciates - so you can never sell it and make a profit - you would effectively have to keep it at least 10 years, probably more.

Sounds like you can't afford a Cali? I'd be worried you're putting yourself into debt much more than you need to.

 

[Mase]

Shoot me down, tell me it's none of my business etc. but i believe you're looking at a nearly new Cali at up to £65K and borrowning 58k to buy it over 15 years? Unless you have good reason to do it this way seems an expensive maybe unaffordable purchase?
Not a dig, just questioning the logic.

Appreciate your comment, as I have a habit of not explaining myself properly

Definitely not. Our youngest is just finishing up nursery so I’ll have a lot more disposable income (I could afford it before she finishes nursery to be fair) I just wanted to keep the monthly payments as low as possible with the idea of keeping the camper for 5-7 years and then getting a settlement for the finance and going down that route. I wouldn’t be keeping the van for 15 years, purely just to keep the monthly’s down (yes I understand I’ll be paying the interest off mainly until I get to roughly year 7).

I’m still debating the PCP over 4 years route.

 

[Mase]

Agree with @larrylamb - sounds a very expensive way to pay off a Cali. At that interest you're paying over the odds with a final cost to you at 105K for a 65K van. Assuming that is what you are buying - you never said.

Over 15 years you're paying it back slower than it depreciates - so you can never sell it and make a profit - you would effectively have to keep it at least 10 years, probably more.

Sounds like you can't afford a Cali? I'd be worried you're putting yourself into debt much more than you need to.

Answered above, but sounds like PCP with higher monthly payments might be better

 

[larrylamb]

Is the 5 year 0% deal not available from VW on a new one?

 

[dspuk]

Answered above, but sounds like PCP with higher monthly payments might be better

That's the route I'd go.

 

[Mase]

Is the 5 year 0% deal not available from VW on a new one?

HP only with £40k customer deposit

 

[Mase]

Yeah I’ve just crunched some numbers in excel and I’ve got £1,518 disposal income each month! Not sure why I was panicking with a 15 year HP :lol:

I think sometimes it just takes someone to give your head a shake

 

[Barry Chuckle]

Yeah I’ve just crunched some numbers in excel and I’ve got £1,518 disposal income each month! Not sure why I was panicking with a 15 year HP :lol:

I think sometimes it just takes someone to give your head a shake

I think the general consensus is the value of Calis are depreciating more presently than they have been for quite a few years. Why not sit on your hands for a bit and save a bigger deposit, you may well find you get a bigger bargain by waiting around a bit.

 

[Justinitus1972]

According to the VW website, they are still offering 5yrs 0% finance with a 50% deposit on new stock vehicles. Don’t know which model California your looking at, but if you can finance half of it at 0% with VW and the rest (the 50% deposit) at 8.9% over say 10yrs with Pegasus would those figures work for you?

Edit: Drive the Deal are still showing a few stock 204 Oceans with some factory options fitted for a touch under £70k. Link

 

[Barry Chuckle]

According to the VW website, they are still offering 5yrs 0% finance with a 50% deposit on new stock vehicles. Don’t know which model California your looking at, but if you can finance half of it at 0% with VW and the rest (the 50% deposit) at 8.9% over say 10yrs with Pegasus would those figures work for you?

I'm no expert but would a finance company lend on a vehicle which was already financed elsewhere? I'm guessing there would be a dispute if ever they had to repossess the vehicle.

 

[Mase]

I think the general consensus is the value of Calis are depreciating more presently than they have been for quite a few years. Why not sit on your hands for a bit and save a bigger deposit, you may well find you get a bigger bargain by waiting around a bit.

I do get what you’re saying, however one of my parents passed away suddenly two years ago (6 weeks and she was gone) and my kids are 6 and 2 so I don’t really want to waste any time sitting around saving more.

Without going too ‘Eat, Pray, Love’ I want to get out and take them places they’ve not seen yet.

I did have £10k a year and a half ago that I put down on a Tesla - which has had its value drop like a stone!! Regret just not getting the Cali then, but the youngest was 1 and it would have been a lot harder with her

 

[Wannabecamperman]

Remortgage at @5% would be my advice. You own the vehicle outright then and can overpay the mortgage as and when.

 

[BeagleMum]

Has anyone used these to finance a camper?

The illustration on their website is 8.9% APR and you can do it over 15 years which gets the monthly cost down.

There’s not a ton of reviews though.

I’ll be borrowing £58k - if not Pegasus does anyone have any other finance companies they’d recommend?

I do get what you’re saying, however one of my parents passed away suddenly two years ago (6 weeks and she was gone) and my kids are 6 and 2 so I don’t really want to waste any time sitting around saving more.

Without going too ‘Eat, Pray, Love’ I want to get out and take them places they’ve not seen yet.

I did have £10k a year and a half ago that I put down on a Tesla - which has had its value drop like a stone!! Regret just not getting the Cali then, but the youngest was 1 and it would have been a lot harder with her

Your cheapest option would be to go the remortgage route with a reputable lender. You would also get a cheaper rate than Pegasus on a personal loan, but that would probably only raise a maximum of £25K so you’d have quite a shortfall. Whatever you decide we wish you luck, you are right to make memories with your family now, no one’s tomorrow is guaranteed.

 

[Truman]

Has anyone used these to finance a camper?

The illustration on their website is 8.9% APR and you can do it over 15 years which gets the monthly cost down.

There’s not a ton of reviews though.

I’ll be borrowing £58k - if not Pegasus does anyone have any other finance companies they’d recommend?

Personally I think you would be much better off with an older California, I bought a 2016 Ocean a year ago with 18000 on the clock at £43000.
Dave, my Cali looks like new, drives like new and has all the little things I need for the NC500 starting this week.
Would I have bought a newer model? YES but I simply couldn't afford it and I paid cash from my savings. Being saddled with so much debt may in my opinion ruin your experience. HOWEVER like others have said if need be re-mortgage. its a far better option.

 

[larrylamb]

Personally I think you would be much better off with an older California, I bought a 2016 Ocean a year ago with 18000 on the clock at £43000.
Dave, my Cali looks like new, drives like new and has all the little things I need for the NC500 starting this week.
Would I have bought a newer model? YES but I simply couldn't afford it and I paid cash from my savings. Being saddled with so much debt may in my opinion ruin your experience. HOWEVER like others have said if need be re-mortgage. its a far better option.

Exactly. No need to saddle yourself with more debt to get a Cali, plenty decent ones available from £25k. Especially with small kids involved, less precious etc.

 

[Californication69]

Has anyone used these to finance a camper?

The illustration on their website is 8.9% APR and you can do it over 15 years which gets the monthly cost down.

There’s not a ton of reviews though.

I’ll be borrowing £58k - if not Pegasus does anyone have any other finance companies they’d recommend?

Try Forza. Got good reviews

 

[Californication69]

Also I’d wait 6 months and see if owners start to offload 6 and 6.1’s once the order books open for the T7.
I get where you’re coming from, with life is short.
I’ve just had a HA and 2 stents fitted.
I’m 52 young and fit M. Work hard, and eat good food.
Drink maybe 3 beers in the last 18 months.
Don’t smoke.
But I’m still saving my pennies for the deposit on a T7.
As life is short and I want to make memories with Grandkids.
But 6 months isn’t too long to wait.
That’s IMHO. Good luck !
And let us know what you decide.

 

[Mase]

All sorted - thanks for the advice everyone.

James at Breeze Portsmouth has been great and I’ve ended up going for a New already built option that looks great. Over the moon.

 

[Barry Chuckle]

All sorted - thanks for the advice everyone.

James at Breeze Portsmouth has been great and I’ve ended up going for a New already built option that looks great. Over the moon.

Thats brilliant news Mase, when do you collect? Please make sure you share lots of pics!!!

 

[Mase]

Thats brilliant news Mase, when do you collect? Please make sure you share lots of pics!!!

They’ve said it should be in early Sept. My Tesla goes this Friday and then we’re away to Tenerife anyway so it should work out perfectly

 

[pjm-84]

Nice one..... I really wanted to say hold tight for a better deal / rate but then read your later posts and reframed. Glad you got it sorted

 

[Agnes_Cali]

So, you came for advice to buy used and ended up with brand new one It will probably be much cheaper, extra warranty and free service for 5y. Good result.