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

    [ details removed until actual offer confirmed - perhaps it was too good to be true..? ]

    10 Comments

    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.

    sounds good to me, but i'm no expert

    good luck with it x x

    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!

    Original Poster

    Predikuesi;4533844

    Are the repayments ok for you in the current climate? It does sound like … 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.

    phatboy123;4533845

    http://motortorque.askaprice.com/reviews/auto-0901/new-hyundai-i20-review.asp



    Thanks, yes, looks good enough for me!

    ClarityofMind;4533875

    sounds good to me, but i'm no expert good luck with it x x



    Thanks

    Beninlincs;4533919

    At best you can get this car for 8500 ish...your monthly payments mean … 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

    Liddle ol' me;4534212

    Never did it either. I just asked for the best option and to phone 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!

    Original Poster

    tony_s1;4534370

    Also, you need to take into account that about £500 of the £4,500 you pay … 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 ... :?

    Liddle ol' me;4534447

    Yes, I certainly will if this pans out! Parkers might be off the mark on … 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:

    Original Poster

    tony_s1;4534670

    Probably depends on what they were quoting the PX against. If it was a … 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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