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Help - New Car/Part Ex

jackv95
jackv95 Posts: 1 Newbie
in Motoring
I currently have a 16 Plate Vauxhall Astra. my settlement figure is £8,000 and I pay £330 Per Month on a 0% Finance Deal. The Part Exchange Price I have been given is £8500

I've placed a new factory order with Audi and the car won't be available until early May, meaning a further 2 Payments totalling £660 to Vauxhall

I'm tempted to pay off the settlement to avoid paying £660 which i'll loose on the part ex (between now and the car being ready) ...

But Audi have advised that the £8500 quote will need to be revalued.. is it likely my car will depreciate in value of £660+ in 2 months?

Thanks In Advance

:beer:

Comments

  • Mercdriver
    Mercdriver Posts: 3,898 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper
    Surely the deal is complete at the time you place the order?
  • motorguy
    motorguy Posts: 22,623 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    It'll depreciate yes, but i'd doubt to the tune of £660.

    Even £2000 depreciation for the year would only work out at £330 or so over two months.
  • motorguy
    motorguy Posts: 22,623 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Mercdriver wrote: »
    Surely the deal is complete at the time you place the order?

    There will be a clause in the contract to allow for the change in value of the trade in if the order is delayed.

    A way round it is to give them the car now - not always convenient though.
  • sheramber
    sheramber Posts: 24,074 Forumite
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    On paper it will become a year older after 1 st March so instead of 2 years old it will be 3 years old.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    sheramber wrote: »
    On paper it will become a year older after 1 st March so instead of 2 years old it will be 3 years old.
    No, it'll be one day older as the clock strikes midnight on 28th Feb.

    The age identifier on the plate of newly-registered cars might change, but that doesn't mean your car suddenly becomes 3yo instead of 2.5yo.

    Nobody can predict used car values three months ahead. But you could look at the relative values of ones three months older than yours...
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