Hi all, my sister and her hubby want a new Zafia and I have offered to get the best deal and speak to the dealers on their behalf. They want an SRi and want new but have no capital to put towards it. They want 0% finance, however I am thinking it might be better to get a cheap loan over say 3 years. The cost of this might be covered by getting pre reg, any comments?
When I buy cars, I normally do the test drive, ask about stock/delivery time, then do the deal over the phone . I figure asking for best price, then ask for the usual mud flaps etc.. then to "seal the deal" go for a tank of gas. Would this be about right? If its new then I'd ask for a grand off and start from there, 2nd I gather about £700 or so?
Not sure where we will buy from but I think a dealer first for test drive then visit supermarkets and even online. If they want new and need 0% that might be difficult though.
Never delt with VX so any suggestions on supermarkets/websites would be great.
Cheers.
P.S They are keen on the Derv.
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Zero percent deals normally require a decent deposit.
I would have a look at drivethedeal.com and look at financing through a decent personal loan.
DB
PS. If they have no capital to start with, why look at a new / nearly new car?
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PS. If they have no capital to start with why look at a new / nearly new car?
It's the modern way. Because forking out £300/month for the next 5 years makes it so much cheaper than just paying the £15k now.... It's a good thing though, for the economy, people buying things they can't afford is what drives our growth. And good for the used car buyers too, who'll be able to buy it for £8k in 3 years.
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"it's the modern way. Because forking out £300/month for the next 5 years makes it so much cheaper than just paying the £15k now"
What I meant was if they haven't even got the money for an even modest deposit...
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They want 0% finance however I am thinking it might be better to get a cheap loan over say 3 years. The cost of this might be covered by getting pre reg any comments?
Agreeing to take out their finance might get you a better deal, but otherwise avoid like the plague, find the cheapest loan from moneysupermarket.com or similar and get that. I wouldn't go into a dealer without having the cash available before I buy, although I wouldn't tell them that, because they make most of their profit on their rip-off finance.
Would this be about right? If its new then I'd ask for a grand off and start from there 2nd I gather about £700 or so?
It would depend entirely on the car, some cars have £4k discounts available, which would make asking for £1k off look pretty silly, others zero. Find the best online price, and try to match/beat it. Also look at six-month old prices, plus pre-reg, as these will be closely correlated to the amount they were discounted by.
Not sure where we will buy from but I think a dealer first for test drive then visit supermarkets and even online. If they want new and need 0% that might be difficult though.
Not sure what you mean by 0%....
Never delt with VX so any suggestions on supermarkets/websites would be great.
THere's one advertised over to the right-hand-side of this forum, probably a good place to start. I think there's several others listed on here too.
A quick google search reveals the following:
www.new-car-discount.com/cardetail/31040/
Seems like a sensible sort of discount on a Vauxhall, although the cheaper models have slightly bigger discounts.
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I've just been through the hops and placed an order for a new Corsa.
Vauxhall currently have 0% deals on, but with 20% down. This won't be asked for until delivery, so you may have a month to wait if they haven't got the exact vehicle you want coming off the line or in stock.
The cheapest on-line interest rates are about 6.5%, so you'll be paying almost an extra £2 for a 9K loan over three years. We worked out that, given an additional Vauxhall discount we could source and the fact we will keep the car forever, it will work out better for us to go for the 0% given we can manage the deposit. The saving on a pre reg (which often won't be the exact vehicle you want) is much the same. Six of one, half a dozen of the other maybe...
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Motorpoint has an 06 for about £12,300.
Otherwise the link above is pretty decent, and broker4cars.co.uk has much the same thing, which may not be pre-registered. Drivethedeal.com almost certainly won't be pre-reg but is about £800 more.
They might be able to structure the deal so that the discount they get counts towards the deposit, seemingly paying list, if you see what I mean, and so they would only have to find another £500 or so to have the 20% they'd need. If that's possible, that would give them the lowest monthly payment of £441 + £500 deposit.
Otherwise they're looking at £490 per month over three years (admittedly with a car worth £7k or so at the end of it).
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The cheapest on-line interest rates are about 6.5% so you'll be paying almost an extra £2 for a 9K loan over three years.
I think you are confusing flat interest rates with APR (Annual Percentage Rate). APR is the 'true' interest rate and, as you say, loans are available at about 6.5% APR. You would pay approx £900 extra for a 9K loan over 3 years, not £2000. £2000 in interest = an interest rate (APR) of about 15%.
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Further to my last, I found I had three dealers all offering the same price, give or take literally a few pence. I know this was the base price because one dealer was put in touch through a mate, the salesman was adamant it was his best price.
I called my local dealer, challenged him to better that an he'd have the business. He knocked off another £180 in total (purchase pice rounded down, fuel and mats) if I would do the do there and then. I did, paid the deposit, and went in the day after to do the paperwork. He wasn't there, and another salesman rather begrudgingly did the paperwork.
It became clear that all was not right. The saleman on the phone had given too much away, and this wasn't just a sales tactic as they'd already got the sale. The guy muttered that they weren't making much at all on the car, and was obviously rattled. I'd already had more than a grand off the car plus the 0%. So I'm a happy camper.....
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You'll find the Zafira a popular nodel, in Motability auctions. This example, maybe £9500ish?? Would be worth thinking of - depraciation has already had a chunk, removed & would help towards your interest charges, if you sort your own finance.
VB
VAUXHALL ZAFIRA 1.6 CLUB, 5 Doors, MPV, Petrol, Manual Transmission, Registered 21-03-2007
To be auctioned at Preston on 20-06-2007
Registration PK07MMO
Registered 21-03-2007
Colour SILVER
Mileage 1,709
Equipment Air Conditioning Alloy Wheels Compact Disc Player Drivers Airbag Electric Windows Passenger Airbag Power Assisted Steering Stereo
Location Preston
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VAUXHALL ZAFIRA 1.6 CLUB 5 Doors MPV Petrol Manual Transmission Registered 21-03-2007 To be auctioned at Preston on 20-06-2007
If it's motability, why have they only kept it for 3 months?
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>> VAUXHALL ZAFIRA 1.6 CLUB 5 Doors MPV Petrol Manual Transmission Registered 21-03-2007 >> To be auctioned at Preston on 20-06-2007 If it's motability why have they only kept it for 3 months?
financially 'up the khyber' and overstretched themselves?
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>> If it's motability why have they only kept it for 3 months? >> financially 'up the khyber' and overstretched themselves?
Pardon me for my ignorance of the wonderful world of living off the state, but isn't the point of motability that you get a free car? Or is that not how it works...
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i'm no expert by any means, but i'm under the impression you do have to pay for some things and that for some there's only a degree of help you can get.......plus some people might find running a bigger vehicle fairly dear if they're on a very limited income, even if the thing does come well cheap
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And without being nasty, there is an obvious reason why someone who is ill would no longer need a Motability car and in these cases, they are sold on at auction.
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A friend of mine bought a Design Diesel auto 3 weeks ago from NetworkQ for £15999 he disliked the car due to problems and the Dealer was very unhelpful in putting them right. He also said the NetworkQ warranty had been watered down compared to what it was a few years ago so he traded the car in 2 weeks later and got £13000 for it. Apparently the rental companies are offering a lot of nearly new Zafiras to the NetworkQ dealers for between £13000 and £13200 so I would not pay much more than this.
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but isn't the point of motability that you get a free car? Or is that not how it works...>>
No, you use the Motability allowance to meet the cost. See:
www.motability.co.uk/Templates/Internal.asp?nodeid...9
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What\'s for you won\'t pass you by
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I must say, in the best possible taste I hope, that the owner may have died.
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New SRi:
tinyurl.com/3cd4g2
56 SRi:
tinyurl.com/2gtr62
06 SRi:
tinyurl.com/2bkth3
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It's the modern way. Because forking out £300/month for the next 5 years makes it so much cheaper than just paying the £15k now....
I cannot quite get my head round this statement. Dealers must be rubbing their hands when they do deals like that.
I would have five years of sleepless nights, 100% deposit and 36 payments of £0 is the best way.
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Andy,You are sooo old fashioned.
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I may be old fashioned but I am also solvent.You don't get ought for nougt in this world.
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I may be old fashioned but I am also solvent.You don't get ought for nougt in this world.
I tend to agree.. My cars were been paid for in cash, and all cost less than a month's wages, the last of which was £7k, and is certainly not worth £20k less to me than a 4-year young model would have been. I can't understand why anyone would buy a mass-market vehicle from new.
A lot of people don't grasp that having £300 going out every month for several years is not a better idea than just paying the purchase price now. Car finance sales are all about the monthly payment: a lot of buyers are so financially illiterate that they will pay enormous interest rates without even realising, when the salesman switches to a 5-year term rather than a 3-year, so it sounds cheap, or else quotes 'flat rate' interest rather than APR.
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As a more economical alternative, something like a three year-old Mondeo or Vectra estate might be just as practical for a family - though not as 'lifestyle' a choice.....
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If I was replacing the Scenic (which won't be until its run into the scrapper's yard!) I'd take a long look at a Berlingo/Kangoo/Caddy type mini MPV. They do everything the bigger MPVs do unless you specifically need the combination of seven seats and no luggage space.
And if I did need full size, I'd follow SJB's advice and look at a VW Shuttle (his road test is in the CBCB). Test drove one on Saturday - every bit as easy as the Scenic to drive and acres of space in the back!
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