Price Comparison — why you might be better off with Wagonex
Our team are constantly asked for the price comparison between the Wagonex subscription model and PCP or leasing. Here is what we can answer, based on a real life example.
As consumers, we have all become very used to seeing the headline monthly payments for PCP and therefore, on the face of things, the Wagonex monthly price may seem higher. What you must remember is the advertised price for PCP and lease deals does not include the large upfront payment that is typically hidden in the small print. With PCP you also have a bubble payment at the end of the term for a large portion of the car value, or you can walk away as you do not own the vehicle.
It would be interesting to know what the Advertising Standards Authority or the FCA think about this, don’t you think ?
One of our members shared her story:
Our member would like to remain anonymous so let’s call her Wanda. Wanda arranged a PCH deal for a particularly smart Range Rover 2.0 Evoque Auto Diesel with leather and technology pack (no keyless entry would you believe!) for 36 months with a 20k mile limit. Costs were as follows:
Administration charge: £150
Deposit: £2603.76
Monthly: £433.96 x 36
Wanda drove 8000 miles over the pre-arranged limit charged at 8.6p per mile= £688
Total cost over 36 months= £19064.32
True Monthly cost= £529.56
Wanda was tied in for three years, could not change the 20k mile limit and as a result, every time she drove the car in the final year the penalty payment increased. Attempting to negotiate her way out was painful, and unfortunately, Wanda resigned herself to wait for the three year lock-in to finally end. Wanda is now a member of Wagonex and is super excited to rotate cars and enjoy the freedom of choice!
The Wagonex price for the same car on a flexible contract without notice period is £590 per month, no fees up front and the ability to switch cars at your leisure. Perhaps you might like to try a convertible for August, or maybe one of those life changing events means you need seven seats where being tied in for three years just does not work or help. The future is cars on subscription, and some might say ‘Netflix for cars’. At Wagonex we feel we have something special to offer and hope you feel the same way. Please sign up and let us know what you think.
