Buying a used car from a main dealer

26
Found 19th Jun
I've been told that it is possible to negotiate the best deal on a used car if you choose to use their often expensive finance option.

Is it then possible to cancel the finance during the cooling off period and settle with the finance company with cash. How will the main dealer react to this practice.
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This was indeed possible once upon a time. However. You now need to read the Ts&Cs put in front of you and will almost certainly find they have the right to recoup the money from you. DO NOT ask and rely on the sales person's spiel. Times have changed.

But why buy from an expensive main dealer anyway?

I have bought 3 cars from Motorpoint and put many friends in touch with them, several of whom have gone on to purchase. I have yet to hear a bad story. Tremendous selection and very good prices. Seriously good prices. No haggling on price (OK just maybe the £99 prep fee but only if they are desperate). I have no relationship other than as a customer. My last buy was 12 months ago for a son who passed his test. We paid the same money for a car that was 12 months younger and better spec'ed than at our local dealer. A mate had a near identical experience. The last trade in I did with them I thought would be a joke but they offered my exactly the number Honest John quoted as the low value on p/e and I had already advertised the car at that price.

motorpoint.co.uk
Edited by: "ccnp" 19th Jun
I really would like 12 months warranty with manufacturer direct, but I haven't dismissed anything yet, although a quick search on motorpoint had zero cars for me
Edited by: "OllieSt" 19th Jun
Motorpoint were great for me too. No hard sell and a dirt cheap car with extremely low mileage.
OllieSt19 m ago

I really would like 12 months warranty with manufacturer direct, but I …I really would like 12 months warranty with manufacturer direct, but I haven't dismissed anything yet, although a quick search on motorpoint had zero cars for me


Motorpoint ensure they pass on warranty intact. You get the manufacturer (or dealer for Ford) warranty that is outstanding on the vehicle
Edited by: "ccnp" 19th Jun
Instead of cancelling the financing contract (which you can do within the cooling of period), you can always prepay the loan in full. Most of car finance allows you to prepay without any extra charge - though do make sure that is the case for the financing you are considering. There should not be anything to pay back to the dealer in case you prepay
My father got great deals on his previous two cars, as he bumped into an old friend who worked at a major car auction, whom, for a small fee (in cash) would introduce a private buyer he felt he could vouch for to one of the dealers willing for a fee to take them to a dealer only auction and bid on their behalf.

These were one year old cars, still in manufacturer's warranty, destined for dealers forecourts, and he paid the dealer purchase price plus about £250. Had he sold them privately after a year of his ownership, he'd have probably got his money back.
Edited by: "melted" 19th Jun
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When my mate bought a new Merc 3 years ago he financed it for a better deal, was told by the dealer to call the day after delivery and cancel the loan within the 14 day cooling off period.
So he did not have to pay the fees for the finance either.
Have you considered buying from a specialist forum? I have bough 2 Skodas from Briskoda members. Both have been fantastic cars at good prices. If you buy from an established member you can often see how much love they have shown their cars.

Obviously you most likely won't get a warranty, but I've not had an ounce of bother with either of the ones I've bought.
Edited by: "deeky" 19th Jun
I can confirm that there are good deals to be had at Motorpoint , I got one last year . Don't take their P/Ex though ! they wouldn't match the price I was offered from Evans Halshaw for my old car so I just walked the 500 yards down the road - sold my old one to Evans Halshaw (they beat we buy any car by 5% and Motorpoint's valuation by 10%) and walked back up to Motorpoint and bought the car .

Motorpoint work on quick turnover for a small profit on (mainly ) 1-2 year old ex rental cars , some make a great buy , some not so great so do your research . Mine was one of about 200 BMW 118i s they had nationwide ,ex Hertz 8 months old with 9K on the clock so 28 months manufacturers warranty when I bought it (for £6K less than dealer price ) . So do your research as some of their other cars were only £500 - £1K below dealer price . Of course they sold all 200 of that batch within weeks (even the ones with 16K on the clock ) , so always worth looking to see when they have a fair few of a similar model as they have probably bought a large number and are pricing to sell fast .

As with any purchase be it car ,house , tele , holiday - whatever - don't just set your sights on one , research and pick 4 or 5 that you would consider buying , then keep an eye on the prices for a few weeks . Then when you do go to buy the salesman/ company is at your mercy (not the other way round ) as if they don't give you a good deal you just move on to the next one . Taking this approach to buying virtually anything is always worth at least 10% and often much more off your purchase .
Edited by: "rogparki" 19th Jun
deeky1 h, 29 m ago

Have you considered buying from a specialist forum? I have bough 2 Skodas …Have you considered buying from a specialist forum? I have bough 2 Skodas from Briskoda members. Both have been fantastic cars at good prices. If you buy from an established member you can often see how much love they have shown their cars.Obviously you most likely won't get a warranty, but I've not had an ounce of bother with either of the ones I've bought.


I haven't quite made up my mind what i want yet. My Golf R DSG 2 year lease deal is up in Oct and I don't really know where to go from there. I quite fancy a hard top convertible and am looking to buy this time.
Edited by: "OllieSt" 19th Jun
I found it was the same price to buy a new car as it was a 1-2year old car after dealer discounts (final cash price) and they gave me 0% PCP too.
OllieSt7 h, 49 m ago

I haven't quite made up my mind what i want yet. My Golf R DSG 2 year …I haven't quite made up my mind what i want yet. My Golf R DSG 2 year lease deal is up in Oct and I don't really know where to go from there. I quite fancy a hard top convertible and am looking to buy this time.


Oh, forget Briskoda then
deeky14 m ago

Oh, forget Briskoda then


Golf was my first lease and I love the car. But I really only do 5k a year and it just doesn't make financial sense. If I could somehow buy mine I may consider keeping it. I just don't fancy buying an unknown 2nd hand one as it would be near impossible to have been babied like mine. I reckon i've used it in anger twice. I quite fancy a used SLK 350 or when I'm not thinking properly the SLK55. All the bad things you read about them isn't really applicable to me as ultimately I need a town car. I only got the Golf R as it was cheaper to lease than the GTD at the time.
Edited by: "OllieSt" 20th Jun
OllieSt9 m ago

Golf was my first lease and I love the car. But I really only do 5k a …Golf was my first lease and I love the car. But I really only do 5k a year and it just doesn't make financial sense. If I could somehow buy mine I may consider keeping it. I just don't fancy buying an unknown 2nd hand one as it would be near impossible to have been babied like mine. I reckon i've used it in anger twice. I quite fancy a used SLK 350 or when I'm not thinking properly the SLK55. All the bad things you read about them isn't really applicable to me as ultimately I need a town car. I only got the Golf R as it was cheaper to lease than the GTD at the time.


How about an electric car?
cmdr_elito15 m ago

How about an electric car?


Funny you should say that. Before I got my Golf I nearly pulled the trigger on a good deal on BMW i3. The truth is though I'm doing 5k a year. Fuel costs are not really an issue for me. I reckon a low milage convertible 2012-2016 car with full manufacturer's service history is where I'm at.
Edited by: "OllieSt" 20th Jun
OllieSt55 m ago

Funny you should say that. Before I got my Golf I nearly pulled the …Funny you should say that. Before I got my Golf I nearly pulled the trigger on a good deal on BMW i3. The truth is though I'm doing 5k a year. Fuel costs are not really an issue for me. I reckon a low milage convertible 2012-2016 car with full manufacturer's service history is where I'm at.


It not just fuel it’s servicing costs too, electric cars accelerate like high end sports cars helps pulling out of junctions and away from lights etc. I’m a high mileage user and therefore electric isn’t any good for me due to range.
cmdr_elito48 m ago

It not just fuel it’s servicing costs too, electric cars accelerate like h …It not just fuel it’s servicing costs too, electric cars accelerate like high end sports cars helps pulling out of junctions and away from lights etc. I’m a high mileage user and therefore electric isn’t any good for me due to range.


Fair point on range. In the last 2 years I've driven to Bury St Edmunds and back twice and I did a trip to Doncaster, York and then home. I'm sure with a bit of planning the York would have been manageable with an electric car. The rest of the time I am talking about a max of 15 miles in a day and very rarely on weekends

They always seem so expensive that Im unsure if they really do make economic sense. The VW e-Golf is a classic example.

Also believe that the cars of today will be ancient in a very short space of time when it comes to range.
Edited by: "OllieSt" 20th Jun
astreix14 h, 50 m ago

Instead of cancelling the financing contract (which you can do within the …Instead of cancelling the financing contract (which you can do within the cooling of period), you can always prepay the loan in full. Most of car finance allows you to prepay without any extra charge - though do make sure that is the case for the financing you are considering. There should not be anything to pay back to the dealer in case you prepay


NOT SO. The CONTRACT the OP signs will determine the liabilities for cancellation or early repayment of credit. There is no 'should' about it.

I was told years ago by a Ford salesman of the fiddle the OP talks about. And in the last 12 months, I read an article that said dealers are wise to this and now have commission recovery clauses in the contract. The FCA already forces dealers to state the commission payments so its no skin off their noses to state how they recover it if you steal it from them.

HonestJohn has examples of punters who thought they were being clever.
OllieSt3 h, 54 m ago

Golf was my first lease and I love the car. But I really only do 5k a …Golf was my first lease and I love the car. But I really only do 5k a year and it just doesn't make financial sense. If I could somehow buy mine I may consider keeping it. I just don't fancy buying an unknown 2nd hand one as it would be near impossible to have been babied like mine. I reckon i've used it in anger twice. I quite fancy a used SLK 350 or when I'm not thinking properly the SLK55. All the bad things you read about them isn't really applicable to me as ultimately I need a town car. I only got the Golf R as it was cheaper to lease than the GTD at the time.


I have the 55amg, and would recommend them highly, so much so its staying as I cant think of anything to replace it with, but would probably say a manual 350 would be the better choice out of the two.
ccnp2 h, 52 m ago

NOT SO. The CONTRACT the OP signs will determine the liabilities for …NOT SO. The CONTRACT the OP signs will determine the liabilities for cancellation or early repayment of credit. There is no 'should' about it. I was told years ago by a Ford salesman of the fiddle the OP talks about. And in the last 12 months, I read an article that said dealers are wise to this and now have commission recovery clauses in the contract. The FCA already forces dealers to state the commission payments so its no skin off their noses to state how they recover it if you steal it from them.HonestJohn has examples of punters who thought they were being clever.


So if the FCA already forces the dealers to disclose the commission payments I wonder how they would feel if you cancelled the agreement during the cooling off period but offered to pay the dealership's commission.
DKLS6 h, 13 m ago

I have the 55amg, and would recommend them highly, so much so its staying …I have the 55amg, and would recommend them highly, so much so its staying as I cant think of anything to replace it with, but would probably say a manual 350 would be the better choice out of the two.


Is that the R171 or R172? I can't quite work out which shape I prefer. Low mileage R171's do exist
Edited by: "OllieSt" 20th Jun
OllieSt41 m ago

Is that the R171 or R172? I can't quite work out which shape I prefer. …Is that the R171 or R172? I can't quite work out which shape I prefer. Low mileage R171's do exist


The R171, personally am not so keen on the R172 nose.

Have a test drive of a 350 and a 55, I warn you the way the 55 goes from 2k to 6.5k might have you casting your sensible head aside. However if your taking sensible, I could sell it for about 2k more than I paid for 4 years ago. So on that front its highly sensible.
DKLS36 m ago

The R171, personally am not so keen on the R172 nose. Have a test drive of …The R171, personally am not so keen on the R172 nose. Have a test drive of a 350 and a 55, I warn you the way the 55 goes from 2k to 6.5k might have you casting your sensible head aside. However if your taking sensible, I could sell it for about 2k more than I paid for 4 years ago. So on that front its highly sensible.


And I think thats my biggest problem. I think I prefer the R171. You've had 4 years out of yours. The latest one I've seen is a 2010(60) so it's getting on a bit now. I can only imagine the cost of working on a V8 engine must be horrendous. I think it's time for me to do some proper research and find out what can go wrong with them. The good thing is that by the time I'm ready to hand back my lease car it will be Oct, and perhaps they'll be more on the marketplace.
Edited by: "OllieSt" 20th Jun
OllieSt15 h, 16 m ago

Fair point on range. In the last 2 years I've driven to Bury St Edmunds …Fair point on range. In the last 2 years I've driven to Bury St Edmunds and back twice and I did a trip to Doncaster, York and then home. I'm sure with a bit of planning the York would have been manageable with an electric car. The rest of the time I am talking about a max of 15 miles in a day and very rarely on weekendsThey always seem so expensive that Im unsure if they really do make economic sense. The VW e-Golf is a classic example.Also believe that the cars of today will be ancient in a very short space of time when it comes to range.


Your probably right but you could get one on PCP and hand it back after day 3 years and get another one?.
OllieSt15 h, 5 m ago

And I think thats my biggest problem. I think I prefer the R171. You've …And I think thats my biggest problem. I think I prefer the R171. You've had 4 years out of yours. The latest one I've seen is a 2010(60) so it's getting on a bit now. I can only imagine the cost of working on a V8 engine must be horrendous. I think it's time for me to do some proper research and find out what can go wrong with them. The good thing is that by the time I'm ready to hand back my lease car it will be Oct, and perhaps they'll be more on the marketplace.


If I used the main dealer, it could be ruinous especially with the AMG tax applied, but I have a great indy I have been using for years. Just stay way from the Kleemann website and you will be fine.

Have a look on on mbclub.co.uk, SLKWorld.com or benzworld.org for building your knowledge on known faults, tbh mine has only been consumables and standard maintenance so far.
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