Would a dealership buy my car?
Discussion
I might be out of work soon. I have an Audi Q3 on 4 year PCP. I’m almost 3 years into the agreement. Back in March the dealership where I bought it from made a PX offer which was break-even in terms of equity I.e. they agreed to clear the finance.
Is it likely that any dealership would take the car off my hands without me buying a new car from them? I.e. they clear the finance and I let them keep the car? It’s probably worth more than the outstanding finance so they could probably make a little bit of profit on it.
Is it likely that any dealership would take the car off my hands without me buying a new car from them? I.e. they clear the finance and I let them keep the car? It’s probably worth more than the outstanding finance so they could probably make a little bit of profit on it.
Yes, and do it now because auction prices are high for the moment, so many dealers will be hungry for stock.
If you're calling round Audi dealers try to bypass the sales staff.
Ask to speak to the underwriter, or the company stock buyer.
The problem in dealing with sales staff is they often try to prove they are clever in buying a cheap car.
I've had sales staff bid me £9,000 less than trade value before, and yes, I did tell them they'd made a mistake and to try again.
As a previous company buyer myself I was tasked with buying 8/10 cars per week. Not always easy.
It was nice when a local person offered me one and even delivered it to my door.
I got really pee'd off when sales staff lost me purchases due to them trying it on with low ball offers.
Also, WBAC might not be as low as you might think at the moment, worth a try.
If you're calling round Audi dealers try to bypass the sales staff.
Ask to speak to the underwriter, or the company stock buyer.
The problem in dealing with sales staff is they often try to prove they are clever in buying a cheap car.
I've had sales staff bid me £9,000 less than trade value before, and yes, I did tell them they'd made a mistake and to try again.
As a previous company buyer myself I was tasked with buying 8/10 cars per week. Not always easy.
It was nice when a local person offered me one and even delivered it to my door.
I got really pee'd off when sales staff lost me purchases due to them trying it on with low ball offers.
Also, WBAC might not be as low as you might think at the moment, worth a try.
KungFuPanda said:
If you're nearly three years into the PCP, you might be past the halfway figure in which case you might be able to just VT and hand the car back to the finance house?
At the moment VT'd cars are taking an age to be processed and collected, it will be far easier and quicker to just deal direct with a dealer if the figures work.Ring around and ask, many will value it blind, pitch up, they will glance round it, do less than 5 minutes of paperwork and leave, the car is no longer your problem and if you are lucky you may even walk away with a few quid.
As long as you are over half way through your deal, in terms of years, you should be able to hand the car back without penalty.
Google Audi Finance, you can log onto the website and see what the outstanding finance is and what other options you have. I have done exactly this can hand my car back without penalty and I’m only 2 years into my 4 year PCP.
I’ve emailed my local local dealer to see if they are interested but I’m yet to hear back. Might give them a call.
Google Audi Finance, you can log onto the website and see what the outstanding finance is and what other options you have. I have done exactly this can hand my car back without penalty and I’m only 2 years into my 4 year PCP.
I’ve emailed my local local dealer to see if they are interested but I’m yet to hear back. Might give them a call.
Dohnut said:
As long as you are over half way through your deal, in terms of years, you should be able to hand the car back without penalty.
Google Audi Finance, you can log onto the website and see what the outstanding finance is and what other options you have. I have done exactly this can hand my car back without penalty and I’m only 2 years into my 4 year PCP.
I’ve emailed my local local dealer to see if they are interested but I’m yet to hear back. Might give them a call.
Pretty sure for PCP it's based on total repaid - in this case 50% of the total amount payable (incl. balloon payment).Google Audi Finance, you can log onto the website and see what the outstanding finance is and what other options you have. I have done exactly this can hand my car back without penalty and I’m only 2 years into my 4 year PCP.
I’ve emailed my local local dealer to see if they are interested but I’m yet to hear back. Might give them a call.
mholt1995 said:
Dohnut said:
As long as you are over half way through your deal, in terms of years, you should be able to hand the car back without penalty.
Google Audi Finance, you can log onto the website and see what the outstanding finance is and what other options you have. I have done exactly this can hand my car back without penalty and I’m only 2 years into my 4 year PCP.
I’ve emailed my local local dealer to see if they are interested but I’m yet to hear back. Might give them a call.
Pretty sure for PCP it's based on total repaid - in this case 50% of the total amount payable (incl. balloon payment).Google Audi Finance, you can log onto the website and see what the outstanding finance is and what other options you have. I have done exactly this can hand my car back without penalty and I’m only 2 years into my 4 year PCP.
I’ve emailed my local local dealer to see if they are interested but I’m yet to hear back. Might give them a call.
Shaw Tarse said:
AudiMan9000 said:
Shaw Tarse said:
I thought you wanted the dealers to offer you a discount?
Read the first line of my post.AudiMan9000 said:
Okay perhaps I owe an explanation given this question contradicts some of my previous questions. My previous questions about buying a car were based on the hope I would be going back to work. After the passage of time, I’ve now grown sufficiently uncertain that I’ll be ever be going back to work that I’m considering where I would stand if I was left with my existing PCP and no income.
Why don't you sell the car if it's worth more than what you owe you may even come out ahead.ZX10R NIN said:
AudiMan9000 said:
Okay perhaps I owe an explanation given this question contradicts some of my previous questions. My previous questions about buying a car were based on the hope I would be going back to work. After the passage of time, I’ve now grown sufficiently uncertain that I’ll be ever be going back to work that I’m considering where I would stand if I was left with my existing PCP and no income.
Why don't you sell the car if it's worth more than what you owe you may even come out ahead.AudiMan9000 said:
In March it was worth £8 more that what I owe. So I’d have enough for one or two pints when the pubs open but no car. I’d only do that if left completely out of work.
You said you might be out of work soon, so I'd say get rid of it now while prices are high at the moment.Many dealers have done some good trade since lockdown has finished so stock is in short supply, hence high auction prices.
This wont last forever, in fact it may change very soon.
Later in the year there might be loads of 3 year old cars coming onto the market, returned leased cars, people defaulting on car loans etc..
They might take quite a hit, and your car could go heavily into negative equity when you have no job.
From what I've read on here there's loads of lease cars sat on peoples drives waiting to go back because the lease companies haven't been able to collect them. 3 to 4 months worth will all hit the auctions in the next few weeks? Maybe..
Edited by Trevor555 on Sunday 28th June 19:14
AudiMan9000 said:
In March it was worth £8 more that what I owe. So I’d have enough for one or two pints when the pubs open but no car. I’d only do that if left completely out of work.
You could always sell it & buy something cheaper to get by until you're more secure employment wise.AudiMan9000 said:
In March it was worth £8 more that what I owe. So I’d have enough for one or two pints when the pubs open but no car. I’d only do that if left completely out of work.
You can get a decent car for under a grand. My last 3 cars ranged in price between 800 and 350 quid. (5 years of motoring)
2 of those I lost £50 in depreciation on each of them. One is my current daily driver and is probably worth more now than I paid 3.5 years ago.
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