To buy with main dealer or not?!

diamond

Hello All!

Ok I know that there is someone on here that can help me.

This is the situation. My Dad bought me a Renault Clio 3 years ago and has been kindly making the payments. The car is due to be changed on the 3rd January when the new clio is released. When I took my car back to be valued it came in under the estimated value price. I will be paying for this car and want to get the best deal I can. I am 5 months pregnant too so there will be a time when I am struggling to meet the payments. So here are my questions

- To get the new car, Renault have said I need to order now. They have extended how long I can keep my car so that I don't go without. I feel pressured and want to do some more research as I don't believe they are giving me the best deal, even though I am not really in a position to haggle. Is it worth checking around to see if a broker or another dealer can give me a better price?

- The repayments for the new car are much higher than what my dad is paying now but I will be getting a lower spec car, how does that work?

- what is the difference between metallic and non-metallic paint? This will make a difference in price.

I would just go without a car or get a used one but I need a car for work. I have no savings so would have to get a loan, repayments on a loan are just as much for a decent car over a 3 year period

I think that is it! Can you let me know your thoughts please

Thanks

M1SS T

tomstickland

Why can't you just keep the car?

Buying a new car from the dealer every 2-3 years and trading your old one in is their dream come true. The new car will always depreciate down to a fraction of the new price so you'll be shelling out around half the new price every 3 years. They'll probably making you a derisory offer on the old one.

They appear to be trying to pressurise you. Get onto Parkers.co.uk and see what your car is worth and what you could sell it for privately. Compare that with what they are offering you. Also look on https://www.autotrader.co.uk and see what they sell for privately.

Metallic paint looks metallic - it has metal flakes in it or something. Non metallic paint is just plain colour. Metallic paint is of no practical use and makes paint matching for damage etc a lot harder. I don't rate it at all personally.

What model is the current car? (Engine size, number of doors, spec name).
What do they value it at?
What price are they charging for the new car?
What APR are they charging on the car loan?
How much the monthly payments?

You can often get a better deal if you take out a loan elsewhere. A friend of mine has used 0% credit card offers to allow him to buy a £7K car interest free. Car dealers can make good money on finance.

I've had a quick look on Parkers and a 2002/51 1.2 16v 3 door is shown as £4700 franchised dealer, £4400 ind dealer, £3700 private good condition.

trigger_mike

stick to metallic paint, always looks nice and is worth more when you come to sell a car, the new model clio will be expensive as it's just come out, i purchsed a new 53 reg clio 1.2 dynamic last feb 04 for £8675 on hp, and sold it a year later for £5800 after a £2100 depost and 12 monthly payment of £126, you will always lose money on new cars, i wouldnt buy new again.

tomstickland

I've had a look on Autotrader and 2002 Clios are going for up to £3800, which roughly agrees with the Parker figures.

vansboy

As mentioned, are you in a position to keep the existing car?

I'm guessing you've a PCP - Personal Contract Plan with Renault Finance - so there SHOULD be an agreed end of contract value - this is USUALLY designed to give you a bit of extra £$£$ to help with deposit on the next car - not sure why it hasn't happened in your instance!?

Anyway, the NEW model isn't yet extansivly discounted - maybe in around 3-6months, it will be, so I'd either

A - Get an offer to extend the contract with existing car (assuming the cars all as you want it to be)

B - Get the garage to quote finance terms to BUY it.

C - Get a loan & buy it.

& the metalic Q - most cars have this finish now - although the dealer will show an EXTRA cost of £3-500 for it on the invoice!!! Only a few models go for SOLID (non metalics) red or white for instance.

It is an expected finish & in theory an added value option, that keeps it's vale too.

VB

diamond

Thanks for the replies.

I am changing the car because it is on PCP. I can't afford to make the balloon payment so either change it on the given date or give it up. Mainly need to have some form of transport for work and because i have a baby on the way.

Tom "They'll probably making you a derisory offer on the old one." You got that right. The offer is so poor I am having to put more money towards the new one.

I thought about selling it privately but didn't think I could do that with a car that has outstanding finance.

After speaking to a few other people I think I may just get a loan and pay off the outstanding amount. What do you think?

tomstickland

TBH, the most cost effective method is to not buy another new car, but to go and buy a 18month old car or older.

Can you provide some numbers for the current deal, trade in value of old car, price of new car, monthly payments, APR on loan etc.

Darren21

Can't you just take out a private loan and pay off the debt and keep your current car??

loanranger_4

diamond wrote:

After speaking to a few other people I think I may just get a loan and pay off the outstanding amount. What do you think?

If the figures stack up and the car will still meet your future needs then this sounds like a very good option. You have had the car since new, you know it's history, you won't find another used car like it.