Reply With QuoteSeems pretty decent to me
As people on here seem knowledgable on all things cars as well as watches, I thought I would tap in to this knowledge and seek some advice.
I currently have a Skoda Fabia for my wife, 17 plate and 18 months left on the PCP. Costs £169 a month. Total outstanding on the car is £7.8k. Some lovely person gave it a ding to the passenger door in a car park and then drove off. Quotes to get this sorted are in the £500 range due to where it is and damage incurred. As a result of the damage, p/ex value seems to be somewhere around £6.5k leaving £1.3k of negative equity.
My wife wants a bigger car to fit our growing boys and their assorted parafinalia (sp) and has determined that car is a Skoda Karoq.
As a result I went to see a couple of dealers and was quoted £335ish a month for a new karoq se with the DSG box. This was with me putting £500 in and “losing” the negative equity in the monthly payment due to a reasonably large discount off list price. I wasn’t happy with nearly doubling our monthly payment so walked after driving a hard bargain with the salesman in question. Before leaving I left my number and let them know that if they were chasing sales at the end of August, give me a call as I was serious about getting a deal sorted.
Fast forward to 31st August and I get the call. I am offered the following :-
- No deposit down.
- Full £7.8k valuation for my Fabia leaving no negative equity.
- 9 month old Karoq se with DSG box and 6k miles.
- 2 services.
- £269 a month. 48 month term. 10k miles.
They explain that they are chasing sales targets and the car isn’t in group stock. If I pay £300 to secure car they will purchase it from Skoda, get it to the dealer, do a 142 point check and do it’s first service.
I agreed and bit their hand off on the condition I could drive it, inspect it and make sure it was in tip top condition when it arrived.
I can still back out and no finance has been activated due to car being in transit from Skoda.
My question is, did I do the right thing? Have I missed something? Is the dealer pulling a fast one on me or have I been lucky to have been in the right place to get a deal done when they were chasing their target ( literally signed 10 mins before dealership closed).
Any input would be great.
Seems pretty decent to me
You might want to check what the new car price would be (through Carwow or similar) to give an idea on the deal you have been offered...
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Sounds a more reasonable quote, the first one being ridiculous.
If their chasing sales their are always deals to be done
You don’t need any help!
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Seems a decent deal as long as there’s no balloon payment at the end.
I think list is £27k on a brand new one which seems toppy. £24k after discounts seems the norm. With everything all said and accounted for I will be financing £19.5k and I’ve got no doubt that that includes the negative equity from my Fabia. Final balloon is £10k ish I think. There’s definitely no more money to be had out the deal. The sales manager had a major face on as I had pushed and pushed knowing that the dealership was closing for the end of the month. £299 became £289 which eventually became £269 with the assurance they had wouldn’t do anymore to get the deal.
If you are in no hurry December is a great time to talk to car dealers.
There are plenty on here to advise.
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Seems a similar lease deal would be about £300 a month without any deposit down and 10k miles. On that basis looks like a cracking deal, plus negative equity cleared.
I thought there was always a balloon payment at the end when purchasing through PCP.Originally Posted by Dave+63
Good deal - well done I'd say; would be interesting to know the APR - I suspect the first offer was the standard off the website rate and the one you got was a lot more competitive
Comparison lease from Leaseloco for you info:
https://www.leaseloco.com/car-leasin...r-dsg/17638534
Looks like a half decent deal, but not fantastic. Certainly not a bad one!
You have missed one of the most important facts about whether its a good deal or not!
Whats the APR(interest rate?) and how much interest are you paying over the term ?
Used VAG cars sold on PCP usually have a high interest rate.
Go to https://www.drivethedeal.com/ and get a quote on a brand new (they call you back with the finance figures, a new one may work out cheaper!
https://centralukvehicleleasing.co.u...0STE5EPTM.htm/
Good deal if you're not bothered about performance and spec
I’m intrigued to know why that is, end of year sales target?
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