Car finance deposit contributions

guitarfishbay

Right but what's the point of £3k off a Yaris when you could get a 5 year old BMW for less than that?

The discount is only relative to that particular car. It doesn't mean the car, or the deal is better.

Pick the best car for your budget not the one with the biggest imaginary win against a salesman.

olafgarten

guitarfishbay said:

Right but what's the point of £3k off a Yaris when you could get a 5 year old BMW for less than that?

The discount is only relative to that particular car. It doesn't mean the car, or the deal is better.

Pick the best car for your budget not the one with the biggest imaginary win against a salesman.

Firstly, I won't get insurance on a 5 year old BMW, and it was 3k off the used price for a 2016, which makes it 10k off the new price. 

guitarfishbay

The point wasn't the exact cost of each car, just that the cars are different. 

But yes other costs need to be factored in - cost of running, depreciation (if you intend to sell) insurance etc

CHrisP86

I am looking for an estate car along the lines of the Skoda Octavia, VW Golf or Audi A4.  They are all great cars and I would have had any of them so it then comes down to price.

My point was that I was surprised that even with 0% finance, the Skoda wasn't much cheaper on a finance deal than the Audi.

I put the Audi discount percentage above to illustrate how well the carwow approach to car haggling has worked.

I would never buy one thing over an other just because item A only had a 5% but item B had a 10% discount.

guitarfishbay

Fair play seems sensible to me. 

Sporky

CHrisP86 said:

My point was that I was surprised that even with 0% finance, the Skoda wasn't much cheaper on a finance deal than the Audi.

I think that's partly because Skoda are more interested in outright sales than finance deals (for private owners), whereas Audi prefer finance. Via Carwow the Octavia Scout was more expensive on finance than for cash - they added the £1000 finance contribution onto the purchase price to knock it off again.

Different sales strategies is all.

DanR

We're stacked more towards PCP as the strongest deals at the moment.

We structure our PCP a bit different though, we tend to run a lower residual to avoid people having to give cars back at the end and not having any equity.

As a percentage of purchase price our residuals will be stronger at point of change.