PCP Letter Arrived

[davB]

And finally the 'make your mind up' PCP letter has arrived.

2 year 0% PCP deal coming to an end in April. Final payment due in May.

I'm minded to buy the car and in the third year shop around for any deals, otherwise will keep the mighty beast for some time. At least it will be mine and I get the free service.

I have started looking for other cars but I can't find anything for the right price (spooky how most other cars end up as around £30k once I add in the bits I want and that all PCP interest rates are about the same).

Talking to car salesman again after 2 years has reminded me what an unsatisfactory experience it can be. It's probably just me....

Amusingly the PCP letter says 'Your supplying dealer will be happy to provide you with an accurate quote and details on how you can finance your new car'.

Well not the ones I've spoken to - maybe it's because I just want ALL the figures and yet the ones I've been to are only keen on showing me the total price, interest, and the monthly payments. Having everything would help me work out how much deposit to stump up again.

I've been quietly ignored when I raise the question of 'how much will you give me for my car'. The Volvo dealer referred me to the valuation page on their website (I was actually sitting with him next to his computer when he recommended this), so I went home and filled out the form. 30 minutes later a different salesman rung me back asking what I'd like to discuss. <sigh>

The Peugeot dealer sent me a quote by email for a new 3008 and has since ignored my request for a valuation on my car - even though he did a thorough look at my car even sighing slightly every time he saw a stone chip.

I've resorted to using the RAC service that gives you private sales, and trade-in prices as a guide.

On the plus side I did get to sit in a Volvo First Edition XC40 and lovely though it is, I can't justify spending that amount of money on a car. The salesman and I got locked in the back when we shut the doors - the child lock was on and without the keys we couldn't get out. I had to use my mobile to phone reception to let us free. Graciously I said it was all my fault (not entirely true given that the salesman recommended I sit in the back to sample the spaciousness).

Anyway, off to the 'official' dealer launch of the XC40 soon and I'm going to win one in their national competition so all my problems will be resolved!

[Considered1]

I feel for everyone in this situation. I went through the insults from Volvo "sales staff" about the value of my car, which is why I told them i'd never buy another new one from them. I did get £4k more for it than they offered but boy was that hard work finding a decent trade dealer. And that dealer sold my XC60 in a week for £1k more than he gave me so we were both very happy!

[davB]

I've not had a value for my XC60 from the Volvo team. I bet if I asked again I might get somewhere. Simply not tried yet.

However, I did get an email today from the Peugeot dealer who said that they would take my car and pay off the £16.5k finance. That's right - he thinks there is no 'value' in my car towards a new Peugeot. And yet I think he can stick it on the forecourt and get £19k for it?

I'll not be getting a Peugeot.

[Considered1]

The worst valuation of my car was from Volvo!, bunch of sharks!

And wasnt interested to compare the cars they had out on the forecourt as mine still had a warranty and two free services and VOC for another 2 years and in showroom condition.

Now everyone deserves to be paid but I cant support the Salesman, Sales Manager, General Manager & Group Sales Directors mortgage as well as my own.

My next new Volvo will turn up in a gift wrapped box or not at all!

[Tannaton]

I think the Volvo dealers are awash with 2-3 year old cars that have come back from PCP's... hence they offer insulting prices.

[wimorrison]

I am not sure that ‘insulting’ is the correct term to use, disappointing or upsetting may be more accurate as clearly the value as seen by the buyer is not as high as the value perceived by the seller.

This issue is only going to become more prevalent as more and more cars from more marques reach the end of the cheap PCP deals that were offered and the market suffers from excess supply, especially now that the market for second hand cars is slowing down as wallets are feeling the pinch from rising prices.

This is the hidden cost of PCP that many people weren’t aware of, some were and went into the deal with eyes open, unfortunately many only saw the shiny new car.

[Chief inspector]

Originally Posted by davB

I've not had a value for my XC60 from the Volvo team. I bet if I asked again I might get somewhere. Simply not tried yet.

However, I did get an email today from the Peugeot dealer who said that they would take my car and pay off the £16.5k finance. That's right - he thinks there is no 'value' in my car towards a new Peugeot. And yet I think he can stick it on the forecourt and get £19k for it?

I'll not be getting a Peugeot.

I dont really think thats unreasonable, £2.5K (15%) to prep it, put a warranty on it, make a bit of profit and pay the VAT on that profit.

Though Ive no idea what your vehicle is worth, might be a lot more!

[gooday]

Trade in values seem to be very low at the moment. I have only asked Volvo, as was maybe interested in a new XC40, but the offer is below the PCP balance so makes it impossible.

Maybe leasing is the way to go, with some very tempting offers around.

[Grimble]

I'll be in the market to replace my second owner XC60 once the mileage gets to about 180k or age to about 8years and am looking forward to perusing the glut of ex PCP cars at low prices.

Would never, ever use my own money to buy a new car.

Every cloud......

[Chief inspector]

You can always use tootle or WBAC to see what they value it at and see what that looks like against your balance.