Trading-in car for a new one: Is this offer too good to refuse...? - HotUKDeals
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Trading-in car for a new one: Is this offer too good to refuse...?

Liddle ol' me Avatar
7y, 10m agoPosted 7 years, 10 months ago
[ details removed until actual offer confirmed - perhaps it was too good to be true..? ]
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Liddle ol' me Avatar
7y, 10m agoPosted 7 years, 10 months ago
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#2
Are the repayments ok for you in the current climate? It does sound like a good deal though. I never do HP, hence the reason I have my cars for many years.
#4
sounds good to me, but i'm no expert

good luck with it x x
#5
At best you can get this car for 8500 ish...your monthly payments mean that you will have paid 4500....even if they have given you the book part exchange price of about 2000, you will still only have paid 6500. It seems that you have been offered a PCP deal whereby the value after three years is the amount to buy it outright if you wish...if not, you walk away with nothing else to pay (and no deposit towards your next car either) Don't want to be the spreader of doom but a deal that looks too good to be true, usually is!
#6
Predikuesi
Are the repayments ok for you in the current climate? It does sound like a good deal though. I never do HP, hence the reason I have my cars for many years.


Never did it either. I just asked for the best option and to phone me back. This is what he came up with, saying the financing deal worked out best.



Thanks, yes, looks good enough for me!

ClarityofMind
sounds good to me, but i'm no expert

good luck with it x x


Thanks :)

Beninlincs
At best you can get this car for 8500 ish...your monthly payments mean that you will have paid 4500....even if they have given you the book part exchange price of about 2000, you will still only have paid 6500. It seems that you have been offered a PCP deal whereby the value after three years is the amount to buy it outright if you wish...if not, you walk away with nothing else to pay (and no deposit towards your next car either) Don't want to be the spreader of doom but a deal that looks too good to be true, usually is!


Yep, I thought this might be the case after the phone call, but unfortunately he phoned me back at 5:45 with the offer and I scribbled it down without questioning him further. But I was sure he didn't put it as a PCP deal. His exact words were something close to "and best of all it has a guaranteed value of £3,800 at the end of the 36 months which you can also put towards a new Hyundai if you wish." It does sound too good to be true, eh? But I will confirm one way or the other tomorrow.

edit: and btw, I got promo material from them a week ago offering the car at £8.195 otr
#7
Liddle ol' me
Never did it either. I just asked for the best option and to phone me back. This is what he came up with, saying the financing deal worked out best.



Thanks, yes, looks good enough for me!



Thanks :)



Yep, I thought this might be the case after the phone call, but unfortunately he phoned me back at 5:45 with the offer and I scribbled it down without questioning him further. But I was sure he didn't put it as a PCP deal. His exact words were something close to "and best of all it has a guaranteed value of £3,800 at the end of the 36 months which you can also put towards a new Hyundai if you wish." It does sound too good to be true, eh? But I will confirm one way or the other tomorrow.

edit: and btw, I got promo material from them a week ago offering the car at £8.195 otr


Also, you need to take into account that about £500 of the £4,500 you pay is interest so actual cost of car is £4,000 + PX. Parkers quote about £2,000 on 40k miles so your PX is probably around £1,500 at 65k.

I have a feeling they'll want the £3,800 off you in 3 years if you want to keep car. :roll:

If deal is as you say in first post, let everyone know who the dealer is!
#8
tony_s1
Also, you need to take into account that about £500 of the £4,500 you pay is interest so actual cost of car is £4,000 + PX. Parkers quote about £2,000 on 40k miles so your PX is probably around £1,500 at 65k.

I have a feeling they'll want the £3,800 off you in 3 years if you want to keep car. :roll:

If deal is as you say in first post, let everyone know who the dealer is!


Yes, I certainly will if this pans out! Parkers might be off the mark on their pricing on this one though - I was offered above £3000 three months ago at another garage when we were browsing, and they weren't even a Hyundai dealer ... :?
#9
Liddle ol' me
Yes, I certainly will if this pans out! Parkers might be off the mark on their pricing on this one though - I was offered above £3000 three months ago at another garage when we were browsing, and they weren't even a Hyundai dealer ... :?


Probably depends on what they were quoting the PX against. If it was a new car costing around £8,000 then you would expect to be able to negotiate around £1,000 discount for a straight cash purchase. So real PX would be nearer £2,000.

If it was straight cash for your car, then I'd agree Parkers are some way out. Generally, with the odd exception for unusual cars, I've found Parkers close to Glass's and almost always more than CAP prices. A lot of dealers like to use CAP which, I think, is based on auction rather than trade data.

Best of luck tomorrow! :thumbsup:
#10
tony_s1
Probably depends on what they were quoting the PX against. If it was a new car costing around £8,000 then you would expect to be able to negotiate around £1,000 discount for a straight cash purchase. So real PX would be nearer £2,000.

If it was straight cash for your car, then I'd agree Parkers are some way out. Generally, with the odd exception for unusual cars, I've found Parkers close to Glass's and almost always more than CAP prices. A lot of dealers like to use CAP which, I think, is based on auction rather than trade data.

Best of luck tomorrow! :thumbsup:


Thanks Tony - not holding my breath though. If it is what he said, I'm grabbing it for sure! :-D

Will edit the OP now and update the actual deal when I know it.

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