Pre-ordering a new car

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anaes89
anaes89 Posts: 1 Newbie
in Motoring
Hi all,

Would appreciate some advice. I'm looking to purchase an electric car. I ended up putting a pre-order reservation for a new Vauxhall Corsa e, which won't be ready for delivery until April 2020. The reservation fee has already been refunded, as I have arranged to meet a dealer for the first time to actually place an order this weekend, but I'm not sure what to expect. I was intending to buy with cash, so will I be expected to pay a full amount up-front or can I put a deposit down in the same way as if it was on finance. If for whatever reason I don't go through with it on delivery, I presume I'd lose any deposit. Am I being a bit silly buy a pre-production car anyway?
Any advice appreciated.
Thanks
Nathan

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  • AdrianC
    AdrianC Posts: 42,189 Forumite
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    You aren't buying a "pre-production car". The car you get will be full series production, and by the time the first RHD cars fall off the end of the production line at Zaragosa, there will have been a good few LHD ones produced, delivered, registered and in use in other countries. The Corsa F is due to hit production in January, IC and electric. The Peugeot 208 (exact same car bar cosmetics) is already in showrooms in other countries, although I think the electric version is still merely imminent, and most of the under-the-skin stuff has been in production in related cars for a while. Either way, by the time the first UK e-Corsas are in customers' hands, there won't be anything particularly new, and certainly not "pre-production".

    Of course, it means you can't test-drive before ordering, but I presume you're fairly relaxed about that to even be thinking about it.

    I would expect a reasonably sizeable deposit to go down on order, with the balance due on or around delivery.
  • DrEskimo
    DrEskimo Posts: 2,348 Forumite
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    edited 13 December 2019 at 5:40PM
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    anaes89 wrote: »
    Hi all,

    Would appreciate some advice. I'm looking to purchase an electric car. I ended up putting a pre-order reservation for a new Vauxhall Corsa e, which won't be ready for delivery until April 2020. The reservation fee has already been refunded, as I have arranged to meet a dealer for the first time to actually place an order this weekend, but I'm not sure what to expect. I was intending to buy with cash, so will I be expected to pay a full amount up-front or can I put a deposit down in the same way as if it was on finance. If for whatever reason I don't go through with it on delivery, I presume I'd lose any deposit. Am I being a bit silly buy a pre-production car anyway?
    Any advice appreciated.
    Thanks
    Nathan

    I'm actually contemplating a move from my Zoe to the Corsa-e, however one feature I really want is adaptive cruise control, and it seems they are offering it in the top spec ICE versions, but no on the Elite Nav Corsa-e, so now I'm not so sure....

    In any case, I would be sure you are getting the best price by going on CarWow. I was surprised to find discounts of up to 24.5%, but this did mean going through their PCP finance. The Elite Nav with the free metallic paint (Navy) and the 7kW onboard charger was coming in at £25,040, which is decent value for an EV (considering 50kWh battery and 100kW CCS).

    This would also allow you some respite in putting a deposit and then settling when you are ready, just be aware that the interest charged is quite high, so don't leave it too long to settle. It would be best to structure the finance with the shortest possible term (24m), highest possible deposit (£12k when I asked on the Elite Nav model) and highest possible mileage to lower the GFV as much as possible (25k miles). This just minimises the interest slightly if you do leave it to run a month or two.

    The dealer will require a deposit of £860 to secure the order, which also means you benefit from the free wall charger, 3yrs servicing, 2-yrs breakdown and an MOT (presumably after 3 yrs!). This is non-refundable so I haven't gone this far yet. The idea I have to put a £860 non-refundable deposit on a car that I won't be able to test drive is a bit ludicrous to me....
  • born_again
    born_again Posts: 14,461 Forumite
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    You would only be expected to put a deposit down. Often £500. Get it in writing that it is refundable.

    One tip on PCP. Take it out and if you have the cash. Pay it off within 14 days. Might get you a good discount on price as dealer wants/gets the kickback (OR NOT AS YOU HAVE PAID IT OFF STRAIGHTAWAY) but that is not your issue :)
    Life in the slow lane
  • shinytop
    shinytop Posts: 2,099 Forumite
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    I know I could work it out/look it up but what would one of these cost on PCP or lease (not that I would buy one that way)? Something like this is getting close to something I could live with in the relatively near future.
  • DrEskimo
    DrEskimo Posts: 2,348 Forumite
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    shinytop wrote: »
    I know I could work it out/look it up but what would one of these cost on PCP or lease (not that I would buy one that way)? Something like this is getting close to something I could live with in the relatively near future.

    No idea on lease costs, but as with any finance, it depends...!

    How much do you want to borrow, over what period and in the context of the PCP, how many miles are you predicting to do.

    Think the GFV will be around £12k, so with a £1k deposit over 36m/30k miles it's probably around £400per month.
  • born_again
    born_again Posts: 14,461 Forumite
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    shinytop wrote: »
    I know I could work it out/look it up but what would one of these cost on PCP or lease (not that I would buy one that way)? Something like this is getting close to something I could live with in the relatively near future.

    All you have to do is go on Vauxhall site look for deals & you get the info...:cool::eek::rotfl:

    SE Nav on Personal Contract Hire2
    Simply return your New Corsa-e to us at the end of your lease; no fuss

    £295 per month with £5,310 initial rental
    Life in the slow lane
  • DrEskimo
    DrEskimo Posts: 2,348 Forumite
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    born_again wrote: »
    All you have to do is go on Vauxhall site look for deals & you get the info...:cool::eek::rotfl:

    SE Nav on Personal Contract Hire2
    Simply return your New Corsa-e to us at the end of your lease; no fuss

    £295 per month with £5,310 initial rental

    I'm presuming he meant the price given the level of discount available, not paying full retail :p
  • shinytop
    shinytop Posts: 2,099 Forumite
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    DrEskimo wrote: »
    No idea on lease costs, but as with any finance, it depends...!

    How much do you want to borrow, over what period and in the context of the PCP, how many miles are you predicting to do.

    Think the GFV will be around £12k, so with a £1k deposit over 36m/30k miles it's probably around £400per month.


    That's the sort of info I'm looking for. It's more the value after 3 years I need because I wouldn't use PCP. After we move and when £20k/200 mile (real) range is a reality I might be interested.
  • DrEskimo
    DrEskimo Posts: 2,348 Forumite
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    The GFV is going to be more of a shot in the dark than a good estimate of depreciation. It's a new EV and the first from Vauxhall. There is also the VAT regulation that stipulates that the GFV has to be below market value, otherwise it's taxed the same as a lease.

    I know things might change in the next 3yrs, but my 3-yr old Zoe is currently selling at £16k and doesn't have CCS and has a 41kWh battery (186miles WLTP). I doubt (hope) it will fall much below £12k in 2 years time.

    I think there is every reason to think the Corsa-e will hold its value well in the medium to short term. There are no real EVs coming to market that will undercut the price for a good number of years yet.
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