Hire Purchase? on new car

Lemonade_Pockets

Never heard of them but spotted this when i was looking for a car.

http://www.euroleasedirect.co.uk/index2.htm

patchwork_cat

After last, but one car have gone off Renault - loads of problems. Thanks anyway.

smileywilliams34

I'm also looking into purchasing a nissan Qashqai 1.5 Acenta in White, no dealers stock the car and was told it would be a needle in a haystack job to get a used one. Have looked on hundreds of websites over the past month and filled in endless enquiry forms, no one could do anything better that £15800 for 09 plate, everything included.
Carsandfinance.com emailed me a price of £15495 and I have since had this reduced to £14695. I also wanted to pay outright for this and was told I had to finance at least £5000 of the value, they initially quoted it over 18 months (£257/month).
On speaking to the company to check about any early repayment penalties they said as long as I kept the finance going for 6 months there was no penalties, so thinking about reducing the payments asked them for the quote for 36 months, reducing the payment to £150/month.
So overall it seems like a pretty good deal to me but I'm no whizz with these sort of things and like Patchwork cat, looking for any advice or if anyone has had any dealings with this company?
Thanks

smileywilliams34

Oh, forgot to say, went into my local nissan dealer and showed him the information and all the prices and he said he would see what he could do. Came back to me looking puzzled and scratching his head and told me there was no way what so ever they could come close to matching the price and that the closest they could get was £1600 more expensive!!

AdrianHi

smileywilliams34 wrote: »

Carsandfinance.com emailed me a price of £15495 and I have since had this reduced to £14695. I also wanted to pay outright for this and was told I had to finance at least £5000 of the value, they initially quoted it over 18 months (£257/month).
On speaking to the company to check about any early repayment penalties they said as long as I kept the finance going for 6 months there was no penalties, so thinking about reducing the payments asked them for the quote for 36 months if neccessary, reducing the payment to £150/month.

5000 divided by 18 = 277.77 which is a 0% interest loan. Did you mis-type 257 above?
5000 paying 150 a month over 36 months means about 5.3% APR which is a very good loan rate and means only about 409 interest charges in 36 months. If this is what it takes to get a 1600 discount I would bite their hand off if I were you and let the finance run the 36 months. If your savings return you say 2% AER the real cost of that loan is 3.3% APR relative to paying from your savings.

Much as you might like a white car, no one else does come resale time, get a pale silver one that is possible to re-sell. Part of the problem could be the dealer doesn't want to order a white car that they cannot sell and risk you pulling out of the deal leaving them stuck with it.

patchwork_cat

smileywilliams on their website they are quoting £13895 on 1.6 Visia Qaahqai, and when I dealt with them they undercut the website. Why white? Awful colour for a car have had one and it looked dirty very quickly.

smileywilliams34

Thanks AdrianHi. Patchwork Cat the diesel is more expensive overall than the petrol which i think accounts for the price on screen. When speaking with carsandfinance they have also undercut the price on advertised on the website substancially!

DCodd

Are you 100% sure these are new 09 cars and not pre-registered 58 plates?

smileywilliams34

Definately 09 Plate

patchwork_cat

Didn't realise that you were after the dCi I thought the 1.5 was a typo.