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The cars that are cheaper on finance revealed by WhatCar?

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Research published by What Car? has revealed a list of new cars that are cheaper to buy on finance than outright in cash.

The consumer magazine said that 14% of new cars are cheaper to buy on finance than with cash, adding that buyers could stand to  save up to £10,247.

Over 6,000 What Car? Target Price offers were analysed to compile the research, which found that one-in-seven new cars are cheaper to buy on finance than by paying with cash – even after applying the target price cash discounts available from dealers.

The list of models found to be cheaper to purchase via a Personal Contract Purchase (PCP) includes:

The best-selling Ford Fiesta 1.1 75 Trend 3dr (pictured below) provided a finance saving of £522.

Ford Fiesta 1.1 75 Trend 3dr

Skoda’s Superb 1.5 TSI SE (pictured below) provided a finance saving of £647.

Skoda Superb

Volvo’s S60 2.0 B5 R Design (pictured below) provided a finance saving of £2,019.

Volvo S60

The BMW 7 Series M760Li (pictured below) is over £10,000 cheaper when buying with finance rather than cash.

BMW 7 Series

Pat Hoy, head of What Car?’s Target Price mystery shopping team, said: “Buying on finance works out cheaper when the car maker’s deposit contribution is greater than the maximum discount offered for a cash purchase – as indicated by our target price saving – and the finance interest rate is either zero or low enough not to cancel out that saving.”

WhatCar? highlighted two explanations why some cars are cheaper on finance. Its research stated: “It’s a good way for car makers to discount a new model without making it obvious they’re working to boost sales and car manufacturers also prefer to get customers using PCP deals as they can look forward to repeat business when finance agreements come to an end”.

Online motor finance applications have risen by 53% since the period before the Coronavirus lockdown started, according to iVendi.

Steve Huntingford, editor at What Car?, said: “Before buying, consumers should work out the total amount payable for a car, both as a cash deal and on finance, and compare the two to ensure they pay the lowest price.

“Our New Car Buying platform allows buyers to compare both cash and finance offers on their car, giving them a quick comparison tool to determine which is the best offer for them.”

What Car? analysed the best finance offers across key vehicle segments in the UK, highlighting the savings available across the entire length of the PCP contract.

The savings take into account interest payments and the final balloon payment, plus the dealer deposit discounts. 

Source: https://www.am-online.com/news/market-insight/2020/07/09/the-cars-that-are-cheaper-on-finance-revealed-by-whatcar

Automotive

Tesla announces a 5-for-1 stock split

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Tesla on Tuesday announced a five-for-one stock split, sending the electric carmaker’s recently high-flying shares up 7% in extended trade.

Tesla’s stock, which traded at $1,475 after the announcement, is among the highest priced on Wall Street, and the Palo Alto, California-based company said in a press release it was looking to make its shares more accessible to employees and investors.

Tesla’s stock has surged over 200% this year, while shares of General Motors and Ford declined on fallout from the coronavirus pandemic.

Stock splits are a way for companies to make shares more accessible to retail investors, potentially attracting individual investors who make small trades. However, brokerages increasingly let customers buy parts of shares, making the benefit of share splits less clear than in the past.

Tesla said stock holders of record on Aug. 21 would receive four additional shares after the close of trading on Aug. 28, with the stock trading on a split-adjusted basis beginning Aug. 31.

Tesla’s stock split follows a four-for-one split announced by Apple in late July, the iPhone maker’s first stock split since 2014.

Stock splits have become rare on Wall Street in recent years, with just three S&P 500 components announcing splits in 2020, compared with an average of 10 a year over the past decade, according to S&P Dow Jones Indices.

Tesla in July posted a second-quarter profit as cost cuts and strong deliveries helped offset coronavirus-related factory shutdowns, clearing a hurdle that could lead to the carmaker’s inclusion in the S&P 500 index.

While many institutional investors have avoided Tesla’s stock in recent years due to a lack of consistent profitability, the company has a strong following among individual investors.

Over the past 30 days, Tesla was second only to Apple as the most popular stock on the Robinhood trading app, according to Robintrack, a website that tracks Robinhood holdings.

Tesla’s stock split should not affect S&P Dow Jones Indices’ potential decision to add the company to the S&P 500, which is weighted by companies’ overall stock market values.

The share split will not make Tesla any less expensive in terms of actual earnings it delivers to investors. The stock currently trades at 112 times expected earnings over the next 12 months, according to Refinitiv. By comparison, GM is valued at eight times expected earnings, and Ford at 45 times expected earnings.

Source: https://www.autoblog.com/2020/08/11/tesla-stock-split-5-for-1/

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2021 Bentley Bentayga Speed adopts new look, still fastest SUV in the world

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The updated 2021 Bentley Bentayga didn’t have to wait long to gain its Speed variant back. We’re less than a month removed from the standard 2021 Bentayga’s big reveal, and the Speed has returned sporting all the same styling elements as its less powerful sibling.

If you paid much attention to the Speed model when it was revealed in February last year, you already know most of the pertinent information on the new one. It has a 6.0-liter twin-turbocharged W12 under hood that produces 626 horsepower and 664 pound-feet of torque. That’s good enough for a 3.9-second 0-62 mph sprint. Top speed hasn’t changed from before at 190 mph, so it still slots in right next to the Lamborghini Urus as the fastest SUV in the world. Not as though efficiency will matter all that much, but the W12 does feature cylinder deactivation technology that can deactivate up to six cylinders.

You’ll be able to tell the Speed apart from the standard Bentayga on the road if you look closely enough. It has unique bumpers in front and back, a dark grille, oval-shaped quad exhaust, elongated roof spoiler, body-color side skirts, unique 22-inch wheels, and of course, Speed badging. The seat backrests are also embroidered with “Speed” unless the customer prefers the Bentley logo. Contrast stitching and diamond quilting unique to the Speed is used to further differentiate the interior. Plus, Bentley adds “Speed” badging to the illuminated sill plates.

Lastly, Bentayga Speed buyers will have the choice of optioning the “Black Specification.” This replaces any brightwork on the exterior with blacked-out or carbon fiber trim. For example, the front splitter, side sills and roof spoiler are finished in carbon fiber. Bentley then uses gloss black paint on the rear bumper diffuser, roof rails, exhaust tips and wheels.

Pricing isn’t out for the new Bentayga Speed yet, but it’ll be available soon after the standard V8 Bentayga begins arriving at Bentley retailers.

Related video:

Source: https://www.autoblog.com/2020/08/11/2021-bentley-bentayga-speed-revealed/

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2021 Ford F-150 price and options lists hit the web

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A couple weeks back, CarsDirect reported on pricing at the bottom and top ends for the 2021 Ford F-150, based on very early order guides. At the bottom, and according to that paperwork, the entry-level F-150 XL Regular Cab 4×2 starts at $30,635, while the top-tier Limited starts at $72,520. The F150 Gen14 forum got hold of a new price list for every trim, bed length, engine, and drivetain on the way in 2021, plus options lists with pricing. We’re still a ways out from the new pickup’s on-sale date, so any of these prices could change. The base XL Regular Cab 4×4 with the 6.5-foot box starts at $28,940 before the $1,695 destination and delivery charge, totaling the aforementioned $30,635. Adding an eight-foot box costs $300. Adding four-wheel drive costs $4,645, taking matters up to a starting price of $35,280.

Prices for the base model of the XL, XLT, Lariat, King Ranch, Platinum, and Limited trims, in regular, Super Cab, and Super Crew configurations, in 4×2 and 4×4 guises are (box length in parentheses):

  • Regular XL 4×2 (6.5) – $30,635
  • Regular XL 4×4 (6.5) – $35,280
  • Regular XLT 4×2 (6.5) – $36,745
  • Regular XLT 4×4 (6.5) – $40,170
  • SuperCab Lariat 4×2 (6.5) – $46,890
  • SuperCab Lariat 4×4 (6.5) – $50,315
  • SuperCrew King Ranch 4×2 (5.5) – $58,025
  • SuperCrew King Ranch 4×4 (5.5) – $61,450
  • SuperCrew Platinum 4×2 (5.5) – $60,805
  • SuperCrew Platinum 4×4 (5.5) – $64,230
  • SuperCrew Limited 4×2 (5.5) – $72,520
  • SuperCrew Limited 4×4 (5.5) – $75,945
 

The price of optional bed sizes and four-wheel drive changes depending on trim. 

The options lists put numbers to everything from the $45 SecuriCode keypad to the $6,920 Equipment Group 502A (High). The current 502A Luxury package costs $6,795 on the Lariat trim to get a chrome appearance package, B&O Play audio, a reverse sensing system, and a blind-spot warning system with cross-traffic alert and trailer tow monitoring. There are other minor changes across the extra features list; for instance, putting a 5.0-liter V8 into the XL to replace the 3.3-liter V6 will cost $1,995, same as now, but swapping into the 2.7-liter EcoBoost V6 will cost $1,195, which is $200 more than in 2020.   

Head over to the F150 Gen14 forum with a calculator app open to pore over all the details and plan for your new truck.

Source: https://www.autoblog.com/2020/08/11/ford-f150-pricing/

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