We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
How To Get Best Price for Toyota CHR
Options

AmIBeingRobbed
Posts: 69 Forumite


in Loans
I am trying to buy a Toyota CHR for the best price I can. The situation is as follows. The car is advertised as costing about £25,000 on Autotrader. But, if I want to buy the car outright, £2500 is added to the price, making the cost £27,500 which is signifcizantly more than advertised.
The alternative method to purchase the car using Finance for supposedly the full discount. The dealer has sent me a Finance Quote showing the purchase price of £25,000, the deposit of about 25%, repayments and a final payment of about £13,500. The dealer then tells me, I can terminate the agreement after three months intimating I would only pay 3 months interest. The dealer will not provide written details to calculate the charges for early termination. If I had to pay the full term charges which I think is quite possible, the cost would be about £29,500.
Any thoughts or advice?
I am sure if went to VW for aTaigo, the situation would be the same.
The alternative method to purchase the car using Finance for supposedly the full discount. The dealer has sent me a Finance Quote showing the purchase price of £25,000, the deposit of about 25%, repayments and a final payment of about £13,500. The dealer then tells me, I can terminate the agreement after three months intimating I would only pay 3 months interest. The dealer will not provide written details to calculate the charges for early termination. If I had to pay the full term charges which I think is quite possible, the cost would be about £29,500.
Any thoughts or advice?
I am sure if went to VW for aTaigo, the situation would be the same.
0
Comments
-
It's quite common for dealers to offer a contribution/discount when taking out finance - that's usually funded by the marque's corporate office or whoever is arranging the finance. The dealer doesn't pay themselves so couldn't care less if you take out finance and then pay it off quickly. They may however be less keen to put it down in writing, as you are finding out!
in any case, we've bought our last 3 cars this way (one Ford, two LRs) - was actually able to pay off the finance after 1 month in every case - so it's nothing to be worried about. I'd just suggest you read the finance agreement to ensure the early repayment clause is in there and you're not stuck with a longer term agreement you don't want.1 -
But most dealers do not add to the windscreen price for paying cash, they make a dealer contribution for buying with credit. Find a dealer that is not a con artist may be the best way for getting a best price. Every time I think that lying car dealers can't get any worse they manage to lower the bar !
1 -
AmIBeingRobbed said:I am trying to buy a Toyota CHR for the best price I can. The situation is as follows. The car is advertised as costing about £25,000 on Autotrader. But, if I want to buy the car outright, £2500 is added to the price, making the cost £27,500 which is signifcizantly more than advertised.
The alternative method to purchase the car using Finance for supposedly the full discount. The dealer has sent me a Finance Quote showing the purchase price of £25,000, the deposit of about 25%, repayments and a final payment of about £13,500. The dealer then tells me, I can terminate the agreement after three months intimating I would only pay 3 months interest. The dealer will not provide written details to calculate the charges for early termination. If I had to pay the full term charges which I think is quite possible, the cost would be about £29,500.
Any thoughts or advice?
I am sure if went to VW for aTaigo, the situation would be the same.0 -
artyboy said:It's quite common for dealers to offer a contribution/discount when taking out finance - that's usually funded by the marque's corporate office or whoever is arranging the finance. The dealer doesn't pay themselves so couldn't care less if you take out finance and then pay it off quickly. They may however be less keen to put it down in writing, as you are finding out!
in any case, we've bought our last 3 cars this way (one Ford, two LRs) - was actually able to pay off the finance after 1 month in every case - so it's nothing to be worried about. I'd just suggest you read the finance agreement to ensure the early repayment clause is in there and you're not stuck with a longer term agreement you don't want.
0 -
AmIBeingRobbed said:artyboy said:It's quite common for dealers to offer a contribution/discount when taking out finance - that's usually funded by the marque's corporate office or whoever is arranging the finance. The dealer doesn't pay themselves so couldn't care less if you take out finance and then pay it off quickly. They may however be less keen to put it down in writing, as you are finding out!
in any case, we've bought our last 3 cars this way (one Ford, two LRs) - was actually able to pay off the finance after 1 month in every case - so it's nothing to be worried about. I'd just suggest you read the finance agreement to ensure the early repayment clause is in there and you're not stuck with a longer term agreement you don't want.
The dealer could, if they wish, provide you with parts of a finance document which would include your rights under the consumer credit act 1974, providing they don’t share any customer info (GDPR).
I’ve yet to come across a car finance agreement for a personal individual that doesn’t have the protection of CCA1974 and the relevant settlement rights.
Your dealer will not put anything in writing as they are strongly discouraged to promote such behaviour as mentioned. Toyota will pay the deposit contribution to Toyota FS as a result of a successful payout, the dealer will receive a small commission payment and after your first payment you can settle in full (minus 58 days interest). The dealer will then have their commission recalled and the finance agreement terminated.If you believe you can, you will. If you believe you can't, you won't.
Secured/Unsecured loans x 1
Credit Cards x 8 (total limit £55,050)
Creation FS Retail Account x 1
Creation Credit Sale 0% x 1 = £112.50pm x 20 mths
0% Overdraft x 1 (£0 / £250)
Mortgage Outstanding - £137,707.00 (Payment 13/360)
Total Debt = £7,400 (0%APR) @ £100pm - Stoozing0 -
MrFrugalFever said:AmIBeingRobbed said:artyboy said:It's quite common for dealers to offer a contribution/discount when taking out finance - that's usually funded by the marque's corporate office or whoever is arranging the finance. The dealer doesn't pay themselves so couldn't care less if you take out finance and then pay it off quickly. They may however be less keen to put it down in writing, as you are finding out!
in any case, we've bought our last 3 cars this way (one Ford, two LRs) - was actually able to pay off the finance after 1 month in every case - so it's nothing to be worried about. I'd just suggest you read the finance agreement to ensure the early repayment clause is in there and you're not stuck with a longer term agreement you don't want.
The dealer could, if they wish, provide you with parts of a finance document which would include your rights under the consumer credit act 1974, providing they don’t share any customer info (GDPR).
I’ve yet to come across a car finance agreement for a personal individual that doesn’t have the protection of CCA1974 and the relevant settlement rights.
Your dealer will not put anything in writing as they are strongly discouraged to promote such behaviour as mentioned. Toyota will pay the deposit contribution to Toyota FS as a result of a successful payout, the dealer will receive a small commission payment and after your first payment you can settle in full (minus 58 days interest). The dealer will then have their commission recalled and the finance agreement terminated.
Even then you would have to specifically request one and evidence your £150K p.a. income or other evidence you were a high net worth individual, or buying as a business, & sign declarations that you wanted an unregulated loan etc. Unregulated car loans are really the preserve of high end prestige brand dealers where customers are prepared to forgo the rights of a regulated agreement for features like a lower/variable rate or balanced payments etc.
0 -
molerat said:But most dealers do not add to the windscreen price for paying cash, they make a dealer contribution for buying with credit. Find a dealer that is not a con artist may be the best way for getting a best price. Every time I think that lying car dealers can't get any worse they manage to lower the bar !0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.7K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.7K Work, Benefits & Business
- 598.4K Mortgages, Homes & Bills
- 176.8K Life & Family
- 256.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards