what to replace the Zoe with?

what to replace the Zoe with?

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Discussion

ooo000ooo

2,523 posts

193 months

Wednesday 21st September 2016
quotequote all
HTP99 said:
If you are on a PCP and are coming up to the end, you have a balloon payment; you either hand the car back, trade it in or pay it off and keep the car, I should imagine the only option that RCi would give would be an HP offer to fund the whole of the balloon payment as opposed to extending the PCP agreement for another year or two.
Ah gotcha, as DSLiverpool says I think we're all on leases?

dave_s13

13,813 posts

268 months

Wednesday 21st September 2016
quotequote all
Most of us are on PCPs with two contracts. Battery for 3 years, car for 2 (made it cheaper).

If we hand them back it means renault have a large number of cars they really can't sell as nobody wants to keep paying the battery lease. No way we are going to purchase at the ridiculous balloon prices.

There must be an argument to say letting us extend our current lease is better for everyone involved. Maybe it's not that simple.

HTP99

22,443 posts

139 months

Wednesday 21st September 2016
quotequote all
Problem with extending the term of the PCP will be the MFV, currently you are probably sitting on an MFV of about £8k and the car is more likely worth about £4k, what will the realistic MFV likely to be in another year or 2; £2k, £nothing?

That is a shortfall of around £6k so your monthlies will jump to around £250 pm to cover that, no one will want to pay that much as well as the battery lease.

As much as it pains them it will most likely be more financially viable for Renault to just have them back now and to try and dispose of them when they have some value.

ooo000ooo

2,523 posts

193 months

Wednesday 21st September 2016
quotequote all
HTP99 said:
Problem with extending the term of the PCP will be the MFV, currently you are probably sitting on an MFV of about £8k and the car is more likely worth about £4k, what will the realistic MFV likely to be in another year or 2; £2k, £nothing?

That is a shortfall of around £6k so your monthlies will jump to around £250 pm to cover that, no one will want to pay that much as well as the battery lease.

As much as it pains them it will most likely be more financially viable for Renault to just have them back now and to try and dispose of them when they have some value.
Sounds crazy that they will do that instead of getting some more income on a car that has potentially bottomed out in value.

smn159

12,448 posts

216 months

Thursday 22nd September 2016
quotequote all
HTP99 said:
Problem with extending the term of the PCP will be the MFV, currently you are probably sitting on an MFV of about £8k and the car is more likely worth about £4k, what will the realistic MFV likely to be in another year or 2; £2k, £nothing?

That is a shortfall of around £6k so your monthlies will jump to around £250 pm to cover that, no one will want to pay that much as well as the battery lease.

As much as it pains them it will most likely be more financially viable for Renault to just have them back now and to try and dispose of them when they have some value.
Yep, that's exactly why mine is going back in January. I'd happily keep it for another two years, but the numbers don't add up.

Anyway, I've just bought a sheddy Volvo V70 D5 to replace it with as a bit of a change / something bigger for dogs and bikes smile

Just need to fix it first...

DSLiverpool

14,671 posts

201 months

Thursday 22nd September 2016
quotequote all
smn159 said:
Yep, that's exactly why mine is going back in January. I'd happily keep it for another two years, but the numbers don't add up.

Anyway, I've just bought a sheddy Volvo V70 D5 to replace it with as a bit of a change / something bigger for dogs and bikes smile

Just need to fix it first...
Are you me ? Just bought a slightly above shed scooby outback 3.0 to knock round in while we await the next tranch of ev deals.

smn159

12,448 posts

216 months

Friday 23rd September 2016
quotequote all
DSLiverpool said:
Are you me ?
If you have the entire front suspension in pieces at the moment with the Zoe relegated to the roadway then yes smile

DSLiverpool

14,671 posts

201 months

Friday 23rd September 2016
quotequote all
smn159 said:
DSLiverpool said:
Are you me ?
If you have the entire front suspension in pieces at the moment with the Zoe relegated to the roadway then yes smile
Lol no - I have a knocky arb bush and 4 corroded alloys but apart from that its great!

DSLiverpool

14,671 posts

201 months

Friday 23rd September 2016
quotequote all
HTP99 said:
Problem with extending the term of the PCP will be the MFV, currently you are probably sitting on an MFV of about £8k and the car is more likely worth about £4k, what will the realistic MFV likely to be in another year or 2; £2k, £nothing?

That is a shortfall of around £6k so your monthlies will jump to around £250 pm to cover that, no one will want to pay that much as well as the battery lease.

As much as it pains them it will most likely be more financially viable for Renault to just have them back now and to try and dispose of them when they have some value.
HTP I think your a dealer ? I have a letter today about the battery for the car giving me three battery options
1, Transfer the battery - no
2, Renew the battery lease - no
3, PX or sell my car to the dealership - I really hope its a GFV !!!
I`ll call the helpline and post up here as we are all getting it now I guess.

HTP99

22,443 posts

139 months

Friday 23rd September 2016
quotequote all
DSLiverpool said:
HTP99 said:
Problem with extending the term of the PCP will be the MFV, currently you are probably sitting on an MFV of about £8k and the car is more likely worth about £4k, what will the realistic MFV likely to be in another year or 2; £2k, £nothing?

That is a shortfall of around £6k so your monthlies will jump to around £250 pm to cover that, no one will want to pay that much as well as the battery lease.

As much as it pains them it will most likely be more financially viable for Renault to just have them back now and to try and dispose of them when they have some value.
HTP I think your a dealer ? I have a letter today about the battery for the car giving me three battery options
1, Transfer the battery - no
2, Renew the battery lease - no
3, PX or sell my car to the dealership - I really hope its a GFV !!!
I`ll call the helpline and post up here as we are all getting it now I guess.
I am yes.

the issue with the battery is if you have a year left to run then potentially, if you cannot part ex the car or sell the car on, leaving either the dealer or new owner to take over the remaining year of the battery lease, you may have to pay a settlement on the remaining year if you want to get shot of the car and battery lease.

What is your GFV?

DSLiverpool

14,671 posts

201 months

Friday 23rd September 2016
quotequote all
HTP99 said:
I am yes.

the issue with the battery is if you have a year left to run then potentially, if you cannot part ex the car or sell the car on, leaving either the dealer or new owner to take over the remaining year of the battery lease, you may have to pay a settlement on the remaining year if you want to get shot of the car and battery lease.

What is your GFV?
Cheers
Not sure on GFV as I am at work but will check later however I am sure its high enough not to cause a shortfall.

dave_s13

13,813 posts

268 months

Friday 23rd September 2016
quotequote all
Well I've written to RCI finance to ask if u can extend the lease by 12 or 24 months and if not when is the soonest date I can VT the contract.

Then I'm either happy to keep it for longer or on the lookout to get rid and change into something else. Hopefully something else just ask cheap.

I can understand why they would be reluctant to extend on a conventional car but in this case the balloon payment is so far off wack with retail prices it's the preserve of only a madman that would go for it. What the fek else are they going to do with a glut of end of pcp zoe's, still on a battery rental, that nobody is going to buy.

ooo000ooo

2,523 posts

193 months

Friday 23rd September 2016
quotequote all
dave_s13 said:
Well I've written to RCI finance to ask if u can extend the lease by 12 or 24 months and if not when is the soonest date I can VT the contract.

Then I'm either happy to keep it for longer or on the lookout to get rid and change into something else. Hopefully something else just ask cheap.

I can understand why they would be reluctant to extend on a conventional car but in this case the balloon payment is so far off wack with retail prices it's the preserve of only a madman that would go for it. What the fek else are they going to do with a glut of end of pcp zoe's, still on a battery rental, that nobody is going to buy.
Especially as it seems impossible for them to convert them to izoe or whatever the call the no battery rental version?

FastNReliable1

20 posts

90 months

Friday 30th September 2016
quotequote all
I've had my Zoe since January 2015, I signed up for the 2 year car / 3 year battery deal. I've not heard anything from RCI yet with regard to my options on the car - should I have?

ooo000ooo

2,523 posts

193 months

Saturday 1st October 2016
quotequote all
FastNReliable1 said:
I've had my Zoe since January 2015, I signed up for the 2 year car / 3 year battery deal. I've not heard anything from RCI yet with regard to my options on the car - should I have?
I got the battery letter yesterday.

RochdalePioneers

264 posts

118 months

Monday 3rd October 2016
quotequote all
We've got a Leaf on a PCP ending next June. Like the Zone it has an RCI battery lease, and like the examples above it will be worth about £5 when the PCP is up. Had a chat with one of the regional EV sales managers at Nissan GB who made it pretty clear that RCI aren't interested in deals.

Wouldn't want to be the bank that's financed RCI. Their paper assets are worthless in the real world. And whilst that's helped Nissan Renault get their 1st gen cars out into the market I can't see how it does anything other than cripple them for the 2nd generation. Because their investment finances to build a new car can't look too good when the 3 year old ones are worth £3.50. And the finance deals on offer will look woeful compared to the original deals so their hard won early adopters walk away and they have to start again. There's a reason they have stopped pumping money into Sunderland and it's nothing to do with Brexit...

Final point. I'd never owned a Nissan before the Leaf. Having been loaned a Pulsar a Juke and a Note as courtesy cars I'm unlikely to ever own a Nissan again. Local dealers run by a choice of Ronnie or Reggie Kray doesn't help

anonymous-user

53 months

Monday 3rd October 2016
quotequote all
I don't know if Renault thinks the investment it made in subsidising UK sales was worth it or not

At an individual car level, it looks expensive. In broader overall market terms, the amount is pretty inconsequential really

According to howmanyleft, there are about 4k Zoes in the UK

WBAC values a 2 year old one at about £2.5k. I expect that will fall further as the 2 year PCP surge from late 2014 comes back home to roost


dave_s13

13,813 posts

268 months

Tuesday 4th October 2016
quotequote all
ooo000ooo said:
dave_s13 said:
Well I've written to RCI finance to ask if u can extend the lease by 12 or 24 months and if not when is the soonest date I can VT the contract.

Then I'm either happy to keep it for longer or on the lookout to get rid and change into something else. Hopefully something else just ask cheap.

I can understand why they would be reluctant to extend on a conventional car but in this case the balloon payment is so far off wack with retail prices it's the preserve of only a madman that would go for it. What the fek else are they going to do with a glut of end of pcp zoe's, still on a battery rental, that nobody is going to buy.
Especially as it seems impossible for them to convert them to izoe or whatever the call the no battery rental version?
I got a reply from RCI today.

Basically it's a non.

They won't extend the lease.

Can VT early with a settlement of over 3k.

Can finance the balloon payment (<8k) but the battery lease cannot be changed to ownership.

Or give it back on 2nd Feb 2017.

I think it's going back!

Need to start thinking about getting a replacement towards the end of the year by the look of it.

DSLiverpool

14,671 posts

201 months

Wednesday 5th October 2016
quotequote all
dave_s13 said:
I got a reply from RCI today.

Basically it's a non.

They won't extend the lease.

Can VT early with a settlement of over 3k.

Can finance the balloon payment (<8k) but the battery lease cannot be changed to ownership.

Or give it back on 2nd Feb 2017.

I think it's going back!

Need to start thinking about getting a replacement towards the end of the year by the look of it.
I have a 24 hour test drive with an i3 next week on £750 / £250 + VAT through one of my companies its not personal. I have been commuting in the 3.0 Subaru this week and its just not as nice as a EV to cosset you in the morning - also my commute is 6 miles each way its a EV no brainer.

dave_s13

13,813 posts

268 months

Wednesday 5th October 2016
quotequote all
We need 5 seats though unfortunately.

There's some cheap golf GTIs going on the cheap lease thread...tempting.