Dan B

What stops me buying a £100 sierra and then taking it somewhere that offers £1000 minimum part ex on one of their cars?

imlach

nothing at all, but remember that the places that give £1000 minimum part-ex sell cars that are £1000 more expensive than book!!

ie, there is no such thing as a free lunch - the trade-in is built into the cost of the car you are buying...

imlach

Next thing you'll bas asking if "Yes Car Finance" offer cheap deals....err..not with 32% APR they don't....

I hate companies that prey on people on the breadline and tempt them with cars/loans etc, yet charge exorbitant interest rates...

Dan B

Yeah, but I think that I know enough (cough) about 2nd hand cars now to be able not to get the pi55 taken out of me by traders etc. At the end of the day they want/need me to buy a car from them. Its about time I took the pi55 a bit

Tiggs

"Yeah, but I think that I know enough (cough) about 2nd hand cars now to be able not to get the pi55 taken out of me by traders etc."


well the you wont get 1k trade in will you! Minimum trade in just means "WELCOME ALL MUGS- ARE CARS ARE OVERPRICED BY AT LEAST 1K SO YOU CAN FEEL BETTER ABOUT TRADING IN YOUR CRAP HEAP" and if the car is priced ok then the APR will be compulsary.

you find a dealer (a good dealer) with min p/x, well priced cars and happy to deal in cash and i'll eat my hat with sauce on.

T

Dan B

I think cash is a big persuader. Its worked for me in the past...

Richard Askew

IIRC its illegal to alter price dependant on APR - if the customer gets their own finance then they have to be offered the same price as a customer whos finances via the dealer or pay cash

HTH
R

Tiggs

richard- correct, but iirc the part ex offer CAN be tied to taking the finace.

T

south-star

I think cash is a big persuader. Its worked for me in the past...

Not always......they can make a lot of money on finance.

Richard Askew

.. no - I have to offer the same PX price to my customers regardless of how they are funding the vehicle..

MattN

normally you only get the min part ex because you are taking the finance with them i.e. it's the finance co that are funding the 1000 min part ex.

So yes the min part ex is dependant on you taking out the finance with them. It's all part of the contract.

Richard is correct saying you can't offer different part ex if they don't want your finance deal, or go with natwest over hsvbc etc, but, in these cases the part ex value of 1k is part of the finance deal offered by the finance co. not the garage selling the car..