Buying a new 2014 Qashqai using PCP

n_s_simpson

Well I'm totally confused what to do...


I went to WestWay Nissan in Stockport to buy the Qashqai 2014 Tekna 4WD in ink blue. They originally wanted to charge me £420 a month on a 3yr PCP with an initial payment of £4k and a residual of £13k. This included a £1000 dealer contribution!
I know someone that works there so they came down to £359 a month with a residual of £12k through a friends and family deal. I then said I could get much cheaper online at around £275 with a residual of £12.5k. They came down further to £303 with a residual of £12k.

They were now competing so I said I'd actually make an initial payment of £5.6k, which they worked out as changing the monthly charge to £248. They then reduced this further to £240 if I took the car they had in stock so it went towards their January figures rather than wait til the March number plates come out.
That seemed like a good deal until I went away and checked back online and saw that I can get a March number plate on exactly the same car for £203 on the same 3yr PCP term, same mileage, with the same initial payment of £5.6k and same £12k residual value.
So is that online price too good to be true or is Westway Nissan just charging me too much?
HELP!!!


Thanks


Nick

bigadaj

Whats the price of the car and the interest rate, either apr or flat rate? Also what fees and charges are being quoted.

It sounds as though to own the car in three years you're going to be paying over £25k which seems like a huge amount.

Might also be worth comparing with hire purchase or personal loan quotes to see how the total cost compares.

n_s_simpson

Hi, the RRP using Nissan's online configurator is £27,845 for this spec of car. According to the revised OTR price from Nissan, it's now £23,622 but Nationwide Vehicle Contracts haven't given me an OTR price (perhaps because they don't/can't simply sell them, who knows).


Using pcpcal.co.uk Nissan's APR seems to be around 5.7% but I guess it all depends what the real OTR price is.


Nissan

spacey2012

Is the equivalent Renault cheaper ?

n_s_simpson

Not sure but I didn't like the Renaults.

n_s_simpson

I'm just amazed by the amount of margin you can negotiate and feel really sorry for the people that pay the full amount. Damn I've been one of those suckers myself so glad I'm doing proper research this time round.


I just wonder if Westway Nissan are going to really walk away from matching the online deal I've found. They say they're direct with Nissan so if anyone can, they surely can.

spacey2012

Is it not a Renault Koleos with some minor plastic changes.

n_s_simpson

Eh?


So, should I go with the online firm then or is that deal too good to be true?

forgotmyname

Same body and chassis. Engines are different, Unless these new design engines are also to be fitted to the new Renaults?

Yes you dont like Renaults but you will be buying one

n_s_simpson

Fair enough but I do like the 2014 Qashqai so assuming I went for that would you say I should do PCP through the online firm or does that deal sound too good to be true?

n_s_simpson

I just can't figure out if PCP is really a good thing. All they're doing is lowering the monthly repayments by mimicking a long term loan (say 6 years) but telling you the settlement figure after 3 years and forcing you to either upgrade, find the cash or take out a loan for the remainder.


So is PCP really any better than a loan in the long run?