Afternoon! Need some PCP help please...!
Discussion
Hi everyone!
Long time lurker, 1st time poster here on the forums, and I'm in need of some help as I got some news that's changed my plans of purchasing a BMW by *quite some margin*.
Ok - I don't want to give the details away of what it is that that I'm getting, but the situation has changed. Originally, I was planning on heading down to the dealership and getting the documents signed for within the 1st week or so of Sept.
I then receive a phone call saying that the car was going to be ready earlier than I expected and would it be ok to take the car sooner! Ok, I say, what's the reason? They want to get the sale done and dusted before the end of August and get rid of the car in the last couple of days of the month so that they can add the sale to their figures.
NOW. I've put down £1000 deposit on the car, but I've not signed any other documentation (legal or otherwise) and they're driving the car to me, pick up the part exchange, and leave me with a lot of 4 wheeled shiny.
What I'm wondering about is what kind of position am I in now? Am I in a far stronger position for negotiating the deal further? Or am I royally FUBAR'd here?
In summary - car being driven to me, I've just put a deposit down, they're collecting my PX, and I've not signed anything yet. Where am I now?
HELP!
Long time lurker, 1st time poster here on the forums, and I'm in need of some help as I got some news that's changed my plans of purchasing a BMW by *quite some margin*.
Ok - I don't want to give the details away of what it is that that I'm getting, but the situation has changed. Originally, I was planning on heading down to the dealership and getting the documents signed for within the 1st week or so of Sept.
I then receive a phone call saying that the car was going to be ready earlier than I expected and would it be ok to take the car sooner! Ok, I say, what's the reason? They want to get the sale done and dusted before the end of August and get rid of the car in the last couple of days of the month so that they can add the sale to their figures.
NOW. I've put down £1000 deposit on the car, but I've not signed any other documentation (legal or otherwise) and they're driving the car to me, pick up the part exchange, and leave me with a lot of 4 wheeled shiny.
What I'm wondering about is what kind of position am I in now? Am I in a far stronger position for negotiating the deal further? Or am I royally FUBAR'd here?
In summary - car being driven to me, I've just put a deposit down, they're collecting my PX, and I've not signed anything yet. Where am I now?
HELP!
MrDuck said:
My apologies - I should really write things down and read before I post...
I still want the car, definitely, but as we've only come to a verbal agreement over the phone about the PCP agreement, and not signed anything, what sort of position am I likely to be in to negotiate further?
Stay exactly do you want when you say 'negotiate further'? Is it a new car? I personally would be saying to have it on the 1st Sept for new reg.I still want the car, definitely, but as we've only come to a verbal agreement over the phone about the PCP agreement, and not signed anything, what sort of position am I likely to be in to negotiate further?
Dealers have targets to hit, the dealer simply wants to get the car invoiced for August target inorder to meet their numbers either for units that month or finance income for the month. If its not a new car it makes no difference of when you get the car in relation to the plate. If a car is invoiced in one month a dealer will usually want to deliver it that month. I wouldnt say you have any negotiating room as you have already agreed the deal on the car by giving them £1000 deposit. If you have agreed to and been accepted on finance it can count as a black mark on your recored if you apply for funding but dont take it up.
If you dont want the car till Sept then just tell the dealer you cant take it till then, however...... if the dealer has given you a p/x price then they will want that asap to get it in before a book drop and to not loose money on it. Most dealers will give you a p/x price for a deal in a certain month.
What is the estimated delivery date on your order you signed?
If you dont want the car till Sept then just tell the dealer you cant take it till then, however...... if the dealer has given you a p/x price then they will want that asap to get it in before a book drop and to not loose money on it. Most dealers will give you a p/x price for a deal in a certain month.
What is the estimated delivery date on your order you signed?
Did you and the dealer originally agree you'd take the car in Sept ?
If so just say you've got plans and are away next week so physically can't accept delivery nor sign paperwork.
You'd take the car earlier but if you change your plans there will be a cost . . what would they like to do ?
If so just say you've got plans and are away next week so physically can't accept delivery nor sign paperwork.
You'd take the car earlier but if you change your plans there will be a cost . . what would they like to do ?
I'm on the other side and although, yes, sometimes paperwork may never be signed until Handover, a verbal agreement is a verbal agreement and we don't like to be messed around with them.
Definitely don't expect the deal to get any better. They should however be willing (with a bit of forcing) to defer the deal till September. If its simply because you want a full 12 months road tax, just ask for 1months RFL to be deducted from the order - I do this very often to secure deals at the end of the month.
I once had a very nasty customer who played me in just this way. We did the deal and he did the 'sorry mate don't have a scanner to sign and send the docs back'. A few days later he changed his mind, by which point we'd brought down his Silver w/ Beige 645 car from way up North. It was a very messy ordeal with both parties pissed - him demanding his deposit back, us with a fat duck sitting in stock which we would never in a million years go out to buy. Our term here is that we'll only refund the deposit once the car sells with any losses deducted from the deposit.
We use VoiceSafe (telephone recording hardware) also to add strength to verbal phone agreements (these days probably 50% of deals I do are with customers who don't actually see the car before committing).
Hope this helps
Definitely don't expect the deal to get any better. They should however be willing (with a bit of forcing) to defer the deal till September. If its simply because you want a full 12 months road tax, just ask for 1months RFL to be deducted from the order - I do this very often to secure deals at the end of the month.
I once had a very nasty customer who played me in just this way. We did the deal and he did the 'sorry mate don't have a scanner to sign and send the docs back'. A few days later he changed his mind, by which point we'd brought down his Silver w/ Beige 645 car from way up North. It was a very messy ordeal with both parties pissed - him demanding his deposit back, us with a fat duck sitting in stock which we would never in a million years go out to buy. Our term here is that we'll only refund the deposit once the car sells with any losses deducted from the deposit.
We use VoiceSafe (telephone recording hardware) also to add strength to verbal phone agreements (these days probably 50% of deals I do are with customers who don't actually see the car before committing).
Hope this helps
Fancy not working out the finance rate before giving a deposit, this is more important than the price you pay.
I have seen rates of 12-15% recently which is shocking, just paid 5.2% with Lombard.
£20,000 at 13.9% over 48 months is 540 a month.
However you can borrow £24,000 at 5% for £550 a month, so only a tenner more.
However, them asking you to take the car early is not a problem, say yeah but make sure you look after me on rates and say you want 6% apr or as close as, as that is what you have been offered from Lombard.
I have seen rates of 12-15% recently which is shocking, just paid 5.2% with Lombard.
£20,000 at 13.9% over 48 months is 540 a month.
However you can borrow £24,000 at 5% for £550 a month, so only a tenner more.
However, them asking you to take the car early is not a problem, say yeah but make sure you look after me on rates and say you want 6% apr or as close as, as that is what you have been offered from Lombard.
Gassing Station | BMW General | Top of Page | What's New | My Stuff