Wise to take delivery of new car in current climate?
Discussion
Hi,
I am due to take delivery of my new vehicle Q7 next week on 29th March. I got a pretty good deal with approximately 25% discount off new price. Obviously over the last week a lot has changed and continues to fluctuate on a daily basis. I have yet to sign the finance documents as I was concerned there is a chance my car may not be delivered if there is an enforced lockdown.
I have spoken to the dealer who obviously would like me to sign finance documents ASAP. I asked what would happen in the event the car could not be delivered and they were unsure and could not say. They have advised they could delay delivery of the vehicle if needed but the contract would start end of March (and potentially I would be liable for payments without the vehicle), as for the deal to be offered it needs to be registered before 31/3/20 to benefit from Audi discount and to avoid the increase charge due to VED from April.
I know nobody knows what will happen with the current car market but wondering what others would do in this situation. In addition to the concerns above, with potentially self isolation being enforced, not sure whether I want a new vehicle sitting on my drive but being unable to use it. I also have a feeling car prices will drop over next few months but given I already have quite a good deal, not sure if prices will fall to the same level.
Appreciate your thoughts.
I am due to take delivery of my new vehicle Q7 next week on 29th March. I got a pretty good deal with approximately 25% discount off new price. Obviously over the last week a lot has changed and continues to fluctuate on a daily basis. I have yet to sign the finance documents as I was concerned there is a chance my car may not be delivered if there is an enforced lockdown.
I have spoken to the dealer who obviously would like me to sign finance documents ASAP. I asked what would happen in the event the car could not be delivered and they were unsure and could not say. They have advised they could delay delivery of the vehicle if needed but the contract would start end of March (and potentially I would be liable for payments without the vehicle), as for the deal to be offered it needs to be registered before 31/3/20 to benefit from Audi discount and to avoid the increase charge due to VED from April.
I know nobody knows what will happen with the current car market but wondering what others would do in this situation. In addition to the concerns above, with potentially self isolation being enforced, not sure whether I want a new vehicle sitting on my drive but being unable to use it. I also have a feeling car prices will drop over next few months but given I already have quite a good deal, not sure if prices will fall to the same level.
Appreciate your thoughts.
Tough one. Part of me thinks if you can afford it and have no issues with paying for it (whether that is finance or cash) then just do it. But, we can expect to have reduced (possibly zero) mobility for at least a few months, so you are unlikely to be using the car anywhere near your expected level.
On top of that, and this has always been the case, the deals are always there - Audi, BMW, et al always offer the same level of discount and will continue to do so. You'll get 25% next month, and the month after, and possible even more given the state of the economy.
I'd say there's a point at which you'd definitely take the car, whether it's a bit more money off, some servicing, etc. If you have that in mind then go for it, but my expectation is that there will be some amazing Q2 offers coming on some cars.
On top of that, and this has always been the case, the deals are always there - Audi, BMW, et al always offer the same level of discount and will continue to do so. You'll get 25% next month, and the month after, and possible even more given the state of the economy.
I'd say there's a point at which you'd definitely take the car, whether it's a bit more money off, some servicing, etc. If you have that in mind then go for it, but my expectation is that there will be some amazing Q2 offers coming on some cars.
IJWS15 said:
So you have a contract to buy a car but
You have not signed the finance documents .. . . . . .
Be careful it doesn't bite you.
Can I ask why you would say this?You have not signed the finance documents .. . . . . .
Be careful it doesn't bite you.
I have a new car on order from Jan, expected delivery July, and I have yet to sign Finance paper. Apart from losing my deposit, what could go wrong?
Sheepshanks said:
The order for the car and the finance are separate things.
This is my understanding too, does not accepting the finance get you off the hook for the car you have ordered or would the expectation be that you still have to pay for the car, could the dealer chase for payment potentially? Suggest you speak to Audi Finance rather than the dealer. I would have thought that in the event you are unable to collect the vehicle due to enforced lock down, that whilst you sign the paperwork prior to incentive deadline, it won’t actually start the clock and therefore your exposure to repayments until the car is handed over, especially in such exceptional times.
However, if there is no enforced lock down, then there will no recourse for you. I guess there will be no reason why you should not proceed as normal.
However, if there is no enforced lock down, then there will no recourse for you. I guess there will be no reason why you should not proceed as normal.
Thanks for your replies. Yes it is a tough choice. My understanding is technically I haven’t signed anything yet so don’t think I am bound but I would need to check this. They have replied to me with following options:
“Ø We will activate the agreement for the 29th and if delivery is postponed the worst case is you would make one monthly payment prior to receipt of the vehicle.
Ø We can hold the agreement activation until the postponed delivery date but if this goes into April the price of the vehicle can increase up to £4000.
Ø You can take delivery earlier than the 29th and guarantee receipt of the vehicle.”
I will email back saying in response to point 1 saying that if delivery is delayed I shouldn’t be liable for any payments when I don’t have the car in my possession. Second option does not make sense for me especially as car prices are likely to drop if anything in the next few months. Problem with third option I would be paying for 2 cars at the same time.
“Ø We will activate the agreement for the 29th and if delivery is postponed the worst case is you would make one monthly payment prior to receipt of the vehicle.
Ø We can hold the agreement activation until the postponed delivery date but if this goes into April the price of the vehicle can increase up to £4000.
Ø You can take delivery earlier than the 29th and guarantee receipt of the vehicle.”
I will email back saying in response to point 1 saying that if delivery is delayed I shouldn’t be liable for any payments when I don’t have the car in my possession. Second option does not make sense for me especially as car prices are likely to drop if anything in the next few months. Problem with third option I would be paying for 2 cars at the same time.
Ignoring the points of whether you actually want the car or not, now or ever, given the current climate, only you can make that decision.
I would be very skeptical of if the car will actually arrive at the dealer in time for a March 29th collection, given that the manufacturer that I sell for are currently working with a skeleton staff at the import centre in the UK with a strong suggestion that they will be closing totally, imminently with no idea of when they will re-open and all targets having been disregarded with registration bonus’ being paid no matter how many registrations, says to me that there will be no more cars arriving at dealers for the foreseeable and this will be the same for all manufactures in the UK.
The price of the car may increase if it went into an April registration as the offer that you took advantage of would have been for a 31st March registration deadline, one would hope that with what is happening currently, Audi would come to the party and honour existing deals that cannot be delivered by end of March due to the extenuating circumstances, this is a conversation that your dealer needs to have with Audi.
Your dealers is pushing you to sign now so that if it all goes tits up, they are not lumbered with a Q7 that they don’t want; you’ve signed the finance paperwork, it has paid out so it is no longer their car, it is yours, however you may sign and not see the car for a month.
Personally, ignoring the issue of whether you think that such a purchase is advisable at the moment, I would not be signing any paperwork yet, if it arrives in time then happy days, arrange a collection date, sign remotely a day before hand and then go and pick it up, if they won’t do that, sign on the day of collection in the morning, bugger off for a few hours whilst the dealer awaits payout of the finance paperwork and collect in the afternoon.
I don’t think it will be available to collect by the 29th and the dealer knows this.
I have similar scenarios at the moment with 9 new cars that are supposed to be here and registered by 31st March, 5 of them should have been here yesterday but the dates have been moved to the 25th, others are due towards the end of the month, we don't think that they will be here, all customers have been informed that the dates have changed but we haven't told them that we believe the cars won't be here though, all are fine and understanding and not one have we tried to get them in to sign finance paperwork, we are letting it all pan out.
I would be very skeptical of if the car will actually arrive at the dealer in time for a March 29th collection, given that the manufacturer that I sell for are currently working with a skeleton staff at the import centre in the UK with a strong suggestion that they will be closing totally, imminently with no idea of when they will re-open and all targets having been disregarded with registration bonus’ being paid no matter how many registrations, says to me that there will be no more cars arriving at dealers for the foreseeable and this will be the same for all manufactures in the UK.
The price of the car may increase if it went into an April registration as the offer that you took advantage of would have been for a 31st March registration deadline, one would hope that with what is happening currently, Audi would come to the party and honour existing deals that cannot be delivered by end of March due to the extenuating circumstances, this is a conversation that your dealer needs to have with Audi.
Your dealers is pushing you to sign now so that if it all goes tits up, they are not lumbered with a Q7 that they don’t want; you’ve signed the finance paperwork, it has paid out so it is no longer their car, it is yours, however you may sign and not see the car for a month.
Personally, ignoring the issue of whether you think that such a purchase is advisable at the moment, I would not be signing any paperwork yet, if it arrives in time then happy days, arrange a collection date, sign remotely a day before hand and then go and pick it up, if they won’t do that, sign on the day of collection in the morning, bugger off for a few hours whilst the dealer awaits payout of the finance paperwork and collect in the afternoon.
I don’t think it will be available to collect by the 29th and the dealer knows this.
I have similar scenarios at the moment with 9 new cars that are supposed to be here and registered by 31st March, 5 of them should have been here yesterday but the dates have been moved to the 25th, others are due towards the end of the month, we don't think that they will be here, all customers have been informed that the dates have changed but we haven't told them that we believe the cars won't be here though, all are fine and understanding and not one have we tried to get them in to sign finance paperwork, we are letting it all pan out.
HTP99 said:
Ignoring the points of whether you actually want the car or not, now or ever, given the current climate, only you can make that decision.
I would be very skeptical of if the car will actually arrive at the dealer in time for a March 29th collection, given that the manufacturer that I sell for are currently working with a skeleton staff at the import centre in the UK with a strong suggestion that they will be closing totally, imminently with no idea of when they will re-open and all targets having been disregarded with registration bonus’ being paid no matter how many registrations, says to me that there will be no more cars arriving at dealers for the foreseeable and this will be the same for all manufactures in the UK.
The price of the car may increase if it went into an April registration as the offer that you took advantage of would have been for a 31st March registration deadline, one would hope that with what is happening currently, Audi would come to the party and honour existing deals that cannot be delivered by end of March due to the extenuating circumstances, this is a conversation that your dealer needs to have with Audi.
Your dealers is pushing you to sign now so that if it all goes tits up, they are not lumbered with a Q7 that they don’t want; you’ve signed the finance paperwork, it has paid out so it is no longer their car, it is yours, however you may sign and not see the car for a month.
Personally, ignoring the issue of whether you think that such a purchase is advisable at the moment, I would not be signing any paperwork yet, if it arrives in time then happy days, arrange a collection date, sign remotely a day before hand and then go and pick it up, if they won’t do that, sign on the day of collection in the morning, bugger off for a few hours whilst the dealer awaits payout of the finance paperwork and collect in the afternoon.
I don’t think it will be available to collect by the 29th and the dealer knows this.
I have similar scenarios at the moment with 9 new cars that are supposed to be here and registered by 31st March, 5 of them should have been here yesterday but the dates have been moved to the 25th, others are due towards the end of the month, we don't think that they will be here, all customers have been informed that the dates have changed but we haven't told them that we believe the cars won't be here though, all are fine and understanding and not one have we tried to get them in to sign finance paperwork, we are letting it all pan out.
Thanks for this post, very helpful. Are you referring to cars that are awaiting transfer from Europe/factory? My car was stock order so apparently has been ready for collection since February (they are holding it in warehouse nearby and will bring it on site when needed). I believe they have it ready because they have said the delivery date can be changed to earlier if needed. I would be very skeptical of if the car will actually arrive at the dealer in time for a March 29th collection, given that the manufacturer that I sell for are currently working with a skeleton staff at the import centre in the UK with a strong suggestion that they will be closing totally, imminently with no idea of when they will re-open and all targets having been disregarded with registration bonus’ being paid no matter how many registrations, says to me that there will be no more cars arriving at dealers for the foreseeable and this will be the same for all manufactures in the UK.
The price of the car may increase if it went into an April registration as the offer that you took advantage of would have been for a 31st March registration deadline, one would hope that with what is happening currently, Audi would come to the party and honour existing deals that cannot be delivered by end of March due to the extenuating circumstances, this is a conversation that your dealer needs to have with Audi.
Your dealers is pushing you to sign now so that if it all goes tits up, they are not lumbered with a Q7 that they don’t want; you’ve signed the finance paperwork, it has paid out so it is no longer their car, it is yours, however you may sign and not see the car for a month.
Personally, ignoring the issue of whether you think that such a purchase is advisable at the moment, I would not be signing any paperwork yet, if it arrives in time then happy days, arrange a collection date, sign remotely a day before hand and then go and pick it up, if they won’t do that, sign on the day of collection in the morning, bugger off for a few hours whilst the dealer awaits payout of the finance paperwork and collect in the afternoon.
I don’t think it will be available to collect by the 29th and the dealer knows this.
I have similar scenarios at the moment with 9 new cars that are supposed to be here and registered by 31st March, 5 of them should have been here yesterday but the dates have been moved to the 25th, others are due towards the end of the month, we don't think that they will be here, all customers have been informed that the dates have changed but we haven't told them that we believe the cars won't be here though, all are fine and understanding and not one have we tried to get them in to sign finance paperwork, we are letting it all pan out.
I guess what I could do is set the date as 29th but only on proviso that if they are unable to fulfil delivery, that Audi extend the offer until a later date when delivery is possible. I know these are unprecedented times but I don’t feel the customer should be out of pocket due to circumstances out of their control (obviously I am only looking at it from my point of view; Audi/the dealer will have their own interests to consider).
Regarding whether it is wise to purchase at moment you are right that is a separate decision I will need to think about! What makes it more complicated is I am returning my current lease middle of next week via BCA but again this might be delayed too.
Ahh right so is the car with the dealer at one of their compounds or is it at the Audi distribution centre in the UK, if with the dealer then you should have nothing to worry about it arriving on time, if at the Audi UK centre then it is unlikely to be delivered to the dealer in time for the end of the month.
I believe at one of their compounds, so there shouldn’t be a concern in them getting the car. My worry was more if there was an enforced lockdown next week they wouldn’t be able to deliver the car (nor would I be able collect it), but from sounds of email from dealer I would still be responsible for vehicle payments despite not having possession of the car.
My Wife's Arona is on Pegasus Ace in the English Channel off Sheerness, docking tonight.
Who knows when we'll get it.....but she does want it....but finance was signed on ordering in January....but I suspect more paw prints will be needed....but remotely I hope in order to keep social distancing to a minimum.
Who knows when we'll get it.....but she does want it....but finance was signed on ordering in January....but I suspect more paw prints will be needed....but remotely I hope in order to keep social distancing to a minimum.
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