So....in the hunt for new car. Excited and slightly apprehensive as its actually my wife's that is going to be replaced. We have a volvo 14plate v40 D2, 35k on the clock. Reasonably well looked after with a few scuffs(nothing that wont buff out) and only a couple of minor chips.
Now, wait till you read this! The finance settlement figure is £7441. I had a good trawl round autotrader and they're on sale from anything between 7.5k and 9k. Roughly same age, mileage etc. WBAC quoted us 6750 and I'm sure they would have knocked 300-400 off that, which is what I would expect.
Arnold Clark Hyundai in Linwood.....£5650!!!!!
"Few scuffs and that sir....and it's a diesel "
So! You've got them on the forecourt 2 shops up for 8grand!
"Aye but they're not selling"
That's two thousand pounds -ve equity. Bare in mind the contract still has 15months to run and the final optional payment is £4990!!
They've offered my 700quid more than the finance company think it'll be worth in 15months!!
Reading between the lines, they don't want these cars! They're happy to have taken the 12k nearly 3years ago and now it can go to the finance company because they know they cant sell it again! Or the customer has to take a massive hit!
Beware folks...if you have a similar car be prepared to have to keep it until the end of its term. PCP didn't work out well at all for ours. Keep this in mind next time you walk into any major showroom. They'll still be trying to charge 8grand for a car they think is worth 5and a half.