Why are my elderly friends bullied into credit deal?

WobblyDog

When I bought my Fiesta 5 years ago for cash I could have saved £500 by taking out the loan that the salesman was offering, and paying it off a few days later. I did get a discount off the list price, but the £500 additional discount was only available if I took the loan. I think it's unfortunately just something that private cash buyers of new cars (who are probably a rare breed these days) have to put up with. The salesman wasn't pushy in my case, but he was surprised that I didn't take up the offer.

Robisere

The solution is to buy "nearly new". You will get a cash deal that way.

There are many examples, just google 'Nearly new cars'. This is just one:
http://www.arnoldclark.com/nearly-new-cars/ford/focus

bigjl

bugslet wrote: »

Of course it's possible to just buy a car. The dealer gives them a price and either they think it's worth it or not. As everyone else has said, they make the money on the finance, but that doesn't mean they can't just buy a car for cash. I suggest they go to another dealer.

You are ignoring the fact that part of the discount dealers are able to give is due to manufacturer incentives that are nothing to do with the dealer getting commission as such, but merely give the dealer more of a margin to allow n the new car whilst actually still making a slim profit.

Would there be another thread saying a dealer refused to give a discount on a new car?

bigjl

Robisere wrote: »

The solution is to buy "nearly new". You will get a cash deal that way.

There are many examples, just google 'Nearly new cars'. This is just one:
http://www.arnoldclark.com/nearly-new-cars/ford/focus

Nearly new cars are not the bargain they were a few years ago.

Many are actually ex demo and some have even been rejected by the first owner.

And if having a manufacturer backed finance agreement for a week then paying it off in full means you can get a brand new car for a similar or lower price why not.

Let's not forget that if you are the first owner and your car is written off in the first year you get a brand new car from Insurance.

If you buy nearly new you will get replacement value, which could mean you end up with a car older than the one that was written off.

bigjl

hollie.weimeraner wrote: »

It depends on the deal.

I bought a Focus and had a large discount with 12 months finance. I had to pay 6 months worth of payments before I could pay it off but it was well worth the finance package

It's a bit disengenious to quote somebody but remove part of their post.

GwylimT

We had this issue with Honda, the best deal was with finance, so i purchased the car on finance and paid the balance within my packages 14 day cooling off period. So no more finance and a lower car cost.

agrinnall

hollie.weimeraner wrote: »

I bought a Focus and had a large discount with 12 months finance. I had to pay 6 months worth of payments before I could pay it off but it was well worth the finance package

Was that a new Focus using Ford Finance? If so I can see no reason why you would have had to wait 6 months, I cancelled mine after 1 payment, and probably could done it before paying anything had I wanted to.

PS As I've been pulled up on this before, when I say "cancelled" what I mean is "paid off the remaining balance of the loan".

bigadaj

agrinnall wrote: »

Was that a new Focus using Ford Finance? If so I can see no reason why you would have had to wait 6 months, I cancelled mine after 1 payment, and probably could done it before paying anything had I wanted to.

PS As I've been pulled up on this before, when I say "cancelled" what I mean is "paid off the remaining balance of the loan".

Settled is the politically correct term.

[Deleted User]

It's the fact of life at the moment were old folk get taken for mugs by all trades. I suggest your 70 year old friends take someone younger with them next time to help close a deal.

A salesman will be less likely to spurt !!!!!!!! when someone on the ball is also present.

bigadaj

Deleted_User wrote: »

It's the fact of life at the moment were old folk get taken for mugs by all trades. I suggest your 70 year old friends take someone younger with them next time to help close a deal.

A salesman will be less likely to spurt !!!!!!!! when someone on the ball is also present.

Depends on the individuals concerned.

My father has just turned 81 and still ends up with tradesmen and salesmen in tears as he spends hours haggling them down.