Save with "Minimum Part Exchange" trick

used_car_manager

pgilc1 wrote: »

^^^^^

This

Thats what we always did anyway. Gets the sub primes in and lets the finance company think they've got a half reasonable deposit.

you didnt need to put your car prices up on the pitch just to generate a deposit, we used create deposits all the time for subprime and people who were negged.

used_car_manager

pgilc1 wrote: »

Sorry, but these deals invariably come with over inflated prices in the first place.

I think you're encouraging people to play with fire to be honest.

I challenge you to find a dealer doing this for any particular car, that cant be bought for £1,000 cheaper elsewhere from another dealer.

looks like we are going to have to agree to disagree

there may well be dealers that do the price lift, i've never done it nor have any of the companies i have worked for apart from car craft which then didnt sell to walk-in customers

its always been generated by finance commission thats why is always part of a 4-5 year deal

motorguy

Reg_Vardy wrote: »

looks like we are going to have to agree to disagree

there may well be dealers that do the price lift, i've never done it nor have any of the companies i have worked for apart from car craft which then didnt sell to walk-in customers

its always been generated by finance commission thats why is always part of a 4-5 year deal

So you cant find me ANY examples whereby there is a real £1,000 saving by entering in to one of these schemes you're talking about, then backing yourself back out before there are any charges? :eek:

So really, people would be better off looking for the cheapest supplier in the first place?

motorguy

I'm actually incredibly uncomfortable with this proposal full stop.

The best way to buy a new car has to be - understand what you can afford, understand what car you want, locate the cheapest supplier of that vehicle, find the cheapest way to pay for it.

I really cant condone seeking out a dealer who is charging an extortionate finance rate, overpricing their cars, putting your head in the lions mouth by physically going into their showroom, signing up for an overpriced car and overpriced finance THEN trying to back your way out of it. :eek:

Madness. :mad:

Sgt_Pepper_2

pgilc1 wrote: »

I'm actually incredibly uncomfortable with this proposal full stop.

The best way to buy a new car has to be - understand what you can afford, understand what car you want, locate the cheapest supplier of that vehicle, find the cheapest way to pay for it.

I really cant condone seeking out a dealer who is charging an extortionate finance rate, overpricing their cars, putting your head in the lions mouth by physically going into their showroom, signing up for an overpriced car and overpriced finance THEN trying to back your way out of it. :eek:

Madness. :mad:

Reg Vardy aka Evans Halshaw says it all.

arrowsmith

Everything is factored in in the case of car sales, dismiss all adverts for vat free, free upgrades, 0% finance, free servicing and inflated minimum part exchange.

Look at the cash price and what extras are really worth, make sure it's an on the road price too. Test drive a car in the garage, never do a deal there. The phone is your friend, all interested sales people will get back to you - if they're interested to sell (many are not).

If you've got a part exchange, get prices from several different garages. Many prices will be the same; that's what it's worth, be realistic and don't expect top prices.

Check auto trader (they have new too) and google search for the cars you're after, check broker prices so you know what can be had. Call several of the lowest prices dealers, tell them the car you're interested in and any part exchange. They'll get back to you with a price if they're after a sale, if it's not right for any reason explain why it's not.

If they start talking about paint protection, GAP insurance and the like before you've squared the deal, you're talking to the wrong place place. It can take a day on the phone and travel to do this, but you'll save lots in the end.

Hoof_Hearted

I follow Reg's reasoning very well and I can see how it can work. Obviously you need to make sure the car isn't overpriced in the first place, but worth it to save £900. I didn't know that there were no penalties for settling car finance before the first payment.

motorguy

Hoof_Hearted wrote: »

I follow Reg's reasoning very well and I can see how it can work. Obviously you need to make sure the car isn't overpriced in the first place, but worth it to save £900. I didn't know that there were no penalties for settling car finance before the first payment.

Thats assuming you cant otherwise get ANY discount off a car on a forecourt at this price?

With pretty much any car on a forecourt at £6995 you're going to get an easy £500 off it minimum. If you're car has MOT and driving its got to be worth £300 on gumtree, so in actual fact you're saving just £100 at very best???

i very much doubt that a deal like this exists that couldnt be got by using a different cheaper dealer in the first place, without all that hassle.

Of course, if anyone can produce evidence to the contrary?

harveybobbles

Theres a garage a few streets away from us who offers a minimum £1000 PX, but his cars are £2000 over priced anyway.

So when people come to us and we offer them £150 for their banger, they say "Well we've been offered £1000 by XXX.."

we reply with "yes, but their car is £2000 dearer than ours and its the difference to change that matters.."

They still dont understand as they see getting a grand for their banger thier as a good thing.. Until you write it down in black and white to show them lol.

We work on low margins and high volume. We'd rather sell three cars with £600 quid margin on them rather than one cars with £1500 margin on.

We dont know any money off as we price very aggressive and get people in from all over the UK.

used_car_manager

Hoof_Hearted wrote: »

I follow Reg's reasoning very well and I can see how it can work. Obviously you need to make sure the car isn't overpriced in the first place, but worth it to save £900. I didn't know that there were no penalties for settling car finance before the first payment.

thanks for that

and thats what i said from the beginning, if the cars not overpriced this is easy to do...

all you are doing is settling off your finance agreement. Lot of people sign up for finance find a better rate from the bannk then settle off.

I totally understand that you may be able to find a car £1000 cheaper, but not always and is it local or 250 miles away, is it exactly the same mileage etc... if all cars were £1000 cheaper than dealers and easy to find then Looker etc would go bust...

not trying to pick an fight on here jsut giving money saving advice which this forum is about :T

making comments about Evans Halshaw and my username as though i am being underhand and sneaky is a bit low.

Also putting forward false facts about paying all the interest back, early penalties etc to disrupt the thread doesnt help either

i respect pgilc1 viewe on this and what he says but i'm not trying to trick anyone. if you have any doubts check my other postings on the advice given