Any advice on negotiating with a dealer, for a "nearly new" car?

Iceweasel

Herzlos wrote: »

You can normally settle the finance for no charge (beyond pro-rata interest) within a 14-day period, so I'd phone and settle it as soon as you've driven home.

You can settle it anytime at all.

Just be sure to use the word 'settle' and not 'cancel'.

dannyrst

Aren't most deposit contributions only available on new cars?

Herzlos

Iceweasel wrote: »

You can settle it anytime at all.

Just be sure to use the word 'settle' and not 'cancel'.

Indeed, but you may be liable for additional charges if you settle after the cooling off period.

Iceweasel

Herzlos wrote: »

Indeed, but you may be liable for additional charges if you settle after the cooling off period.

I think not - the cooling off period is designed for people who wish to cancel.

Settling early (i.e. before the end of the finance term) carries no penalty - you just pay interest for the time you have had the finance.

I paid off the finance after 4 days and paid 4 days interest.

I double checked asking what would happen if I paid it off after one month and was told that I would be due one months interest.

I simply phoned the finance company and paid with a debit card - no fuss - no questions - and of course I kept the £2K incentive to take the finance.

I believe the dealer also kept his commission - indeed it was the salesman who suggested that I take the finance in the first plkace as a means of reducing the price of the car.

k3lvc

dannyrst wrote: »

Aren't most deposit contributions only available on new cars?

No - seems to be the latest buzzword to avoid using the 'discount' word - my last pre-owned (2nd hand :rotfl:) Audi, Merc, VW and Jag have all benefitted from this when taking out finance

icebergx

Hi all, just to update you. I managed to pickup the car I wanted with a decent amount of extras for £28,500 cash. It's list price would have been £41k, and it's 9 months old with 5600 miles on the clock, so I'm pretty pleased with that.
It the cheapest car with the main extras I want, that's being advertised anywhere (I've checked AutoTrader, Motors.com and Pistonheads) by £2500, and I knocked a further £1500 off.

After agreeing a cash price, I did ask they guy in the showroom, "out of curiosity, what would the finance price have been? Could I save any more if we go down the finance route?" but he replied that, as the car was over 6 months old, that it would't be possible to get any finance contribution... I'm not sure this is definitely the case, and he didn't even seem to want to want to sell me it after I asked (although he did try to sell it to me initially, when I sat down with him.) Anyone know if a finance contribution is possible on cars over six months old?

All the paperwork has now been signed, so I'm not sure if it's possible to re-open the conversation again, to try to see if it's possible... Any thoughts?
He actually said to me that some savvy customers take out finance to get the discount, then pay it off immediately... I nearly spat my drink out!

Iceweasel

icebergx wrote: »

Hi all, just to update you. I managed to pickup the car I wanted with a decent amount of extras for £28,500 cash. It's list price would have been £41k, and it's 9 months old with 5600 miles on the clock, so I'm pretty pleased with that.
It the cheapest car with the main extras I want, that's being advertised anywhere (I've checked AutoTrader, Motors.com and Pistonheads) by £2500, and I knocked a further £1500 off.

After agreeing a cash price, I did ask they guy in the showroom, "out of curiosity, what would the finance price have been? Could I save any more if we go down the finance route?" but he replied that, as the car was over 6 months old, that it would't be possible to get any finance contribution... I'm not sure this is definitely the case, and he didn't even seem to want to want to sell me it after I asked (although he did try to sell it to me initially, when I sat down with him.) Anyone know if a finance contribution is possible on cars over six months old?

All the paperwork has now been signed, so I'm not sure if it's possible to re-open the conversation again, to try to see if it's possible... Any thoughts?
He actually said to me that some savvy customers take out finance to get the discount, then pay it off immediately... I nearly spat my drink out!

A finance contribution is definitely available when buying a BMW AUC - I don't know about other manufacturers.

With the money off that I managed to achieve I paid less for my brand new car than a so-called 'nearly new' model with less options that was standing on the dealers forecourt when I went to pick my new one up.

You asked about finance at the end? So you didn't try it the other way round as I suggested in post #6 ?

icebergx

No, I decided to try and get some money off for cash, then try to get something further by taking up the finance, but the salesman didn't seem to want to discuss it as we'd already agreed the cash price, it was the end of the day, and he was actually working late.
Could I have got the 1500 off by going down the finance route? Probably...
anyone think it's worth trying again for finance on Monday... I guess the worst they can say is no.

SailorSam

When i went to buy my car, i took a guy with me who spent the whole of his life as a car salesman. He said to the young lad after he gave us a price ......."We don't want one each"

Crabman

You could compare with similar vehicles at car supermarkets and then use that as leverage with a main dealer... if they don't want to play, you can still buy from the car supermarket. Be aware that supermarket cars are often ex-rentals so ask about the history if you go down that route.