Looking for a friendly flexible dealer
Discussion
I am looking to buy a prestige car, something along the lines of Bentley Continental.
I will buy the car at the end of July and will be keeping it for just 6 months. Probably accruing around 4k miles on it in that time. It will be garaged and cherished, as with all my cars.
So I want to find a dealer, anywhere in the country, who would be willing to sell me the car, and agree to buy it back 6 months later, at a given sum. Is this possible? Anybody know of any dealers who would entertain this concept? Recommendations I figure are the best way to go. Also - if I start looking now, the ideal dealer can then perhaps source me the car in the first place.
Car will be paid for in full in cash on purchase.
Looking forward to some replies!
I will buy the car at the end of July and will be keeping it for just 6 months. Probably accruing around 4k miles on it in that time. It will be garaged and cherished, as with all my cars.
So I want to find a dealer, anywhere in the country, who would be willing to sell me the car, and agree to buy it back 6 months later, at a given sum. Is this possible? Anybody know of any dealers who would entertain this concept? Recommendations I figure are the best way to go. Also - if I start looking now, the ideal dealer can then perhaps source me the car in the first place.
Car will be paid for in full in cash on purchase.
Looking forward to some replies!
It would have to be a brave dealer to a) guarantee a figure for six months time as who knows what the market for that sort of car will be like in six months time and b) commit to actually buying the car back as; again, who knows what the market for that sort of car will be like in six months time.
Similar concept works with GFV on PCP. So was wondering if anybody would entertain the idea.
Condition would obviously have to be written into the deal. Assuming condition stays spot on.
Anyway, may have to just go with the traditional way, and worry about it later!
Assuming 25% lost in 6 months! Assume 40k car, am I really going to lose 10k in 6 months!!?
Or if I go for 60k car, lose 15k!??
These cars have majority of depreciation done, so it should mainly be the dealer margin I lose surely!
Condition would obviously have to be written into the deal. Assuming condition stays spot on.
Anyway, may have to just go with the traditional way, and worry about it later!
Assuming 25% lost in 6 months! Assume 40k car, am I really going to lose 10k in 6 months!!?
Or if I go for 60k car, lose 15k!??
These cars have majority of depreciation done, so it should mainly be the dealer margin I lose surely!
brickwall said:
Well on the rough guess that these cars halve in value every 3 years, I'd guess that you should lose no more than 10% in 6 months.
And halving in value over 3 years is a pretty strong assumption for lots of used cars - it might not be crazy to halve over 5.
Appreciate that, but should also need to take into account the dealer profit margin, which I iwll lose on driving it out of the showroom!And halving in value over 3 years is a pretty strong assumption for lots of used cars - it might not be crazy to halve over 5.
Porkupine said:
Similar concept works with GFV on PCP. So was wondering if anybody would entertain the idea.
Condition would obviously have to be written into the deal. Assuming condition stays spot on.
Anyway, may have to just go with the traditional way, and worry about it later!
Assuming 25% lost in 6 months! Assume 40k car, am I really going to lose 10k in 6 months!!?
Or if I go for 60k car, lose 15k!??
These cars have majority of depreciation done, so it should mainly be the dealer margin I lose surely!
I would think that the difference between trade and retail on a car like this is at least £6k. So in theory you will kiss this goodbye as soon as you drive off the forecourt.Condition would obviously have to be written into the deal. Assuming condition stays spot on.
Anyway, may have to just go with the traditional way, and worry about it later!
Assuming 25% lost in 6 months! Assume 40k car, am I really going to lose 10k in 6 months!!?
Or if I go for 60k car, lose 15k!??
These cars have majority of depreciation done, so it should mainly be the dealer margin I lose surely!
I dont think a further £4k in depreciation over a 6 month time frame is out of the question, so yes you could lose £10k in 6 months. But it may not be much more if you kept it a year.
oldnbold said:
I would think that the difference between trade and retail on a car like this is at least £6k. So in theory you will kiss this goodbye as soon as you drive off the forecourt.
I dont think a further £4k in depreciation over a 6 month time frame is out of the question, so yes you could lose £10k in 6 months. But it may not be much more if you kept it a year.
I was just about to type that pretty much word for word!I dont think a further £4k in depreciation over a 6 month time frame is out of the question, so yes you could lose £10k in 6 months. But it may not be much more if you kept it a year.
So yeah, expect to lose circa £10k. Maybe a more as it depends how brave the dealer is feeling when guessing what the car will be worth in 6 months time. And if they'll shift it befire the Christmas period, or if they'll allow for a couple of extra book drops as they'll still have it in January. I know I would...
Fast Bug said:
oldnbold said:
I would think that the difference between trade and retail on a car like this is at least £6k. So in theory you will kiss this goodbye as soon as you drive off the forecourt.
I dont think a further £4k in depreciation over a 6 month time frame is out of the question, so yes you could lose £10k in 6 months. But it may not be much more if you kept it a year.
I was just about to type that pretty much word for word!I dont think a further £4k in depreciation over a 6 month time frame is out of the question, so yes you could lose £10k in 6 months. But it may not be much more if you kept it a year.
So yeah, expect to lose circa £10k. Maybe a more as it depends how brave the dealer is feeling when guessing what the car will be worth in 6 months time. And if they'll shift it befere the Christmas period, or if they'll allow for a couple of extra book drops as they'll still have it in January. I know I would...
It could be a tricky legal document. What if it has a cat D accident and the OP repairs it? Or other accidents?
How much would a pcp be from Bentley? Do you want to mod the car and then change it back? Do you want to track the car a lot? Use it for an unusual business?
TA14 said:
How much would a pcp be from Bentley?
Do you want to mod the car and then change it back? Do you want to track the car a lot? Use it for an unusual business?
I will find out about the PCP option...but is there any sort of break clause, where you can just hand back after a certain period. I am sure I heard previously after 12 months you can hand back and cease the agreement. Regardless of what is left to pay. Do you want to mod the car and then change it back? Do you want to track the car a lot? Use it for an unusual business?
Answers to the other questions...NO. NO. and NO.
Porkupine said:
TA14 said:
How much would a pcp be from Bentley?
Do you want to mod the car and then change it back? Do you want to track the car a lot? Use it for an unusual business?
I will find out about the PCP option...but is there any sort of break clause, where you can just hand back after a certain period. I am sure I heard previously after 12 months you can hand back and cease the agreement. Regardless of what is left to pay. Do you want to mod the car and then change it back? Do you want to track the car a lot? Use it for an unusual business?
Answers to the other questions...NO. NO. and NO.
TA14 said:
HTP99 said:
One you have paid half of the total amount payable you van voluntary terminate the agreement.
So I suppose that the OP now needs to know whether he can reasonably find someone to offer a one year PCP on a secondhand car valued at around £40K.Mr SFJ said:
If you're going to own the car for 6 months, why not buy a fun shed, unless you want to pose and show off money you haven't got?
The idea is to buy and pay in full in cash (unless PCP allows a smoother sale), so the money is available, it is not for purpose of showing off. Not that it is any of your business. Also , the car is being bought to serve a particular purpose. A 'fun shed' is not going to fulfill the required criteria to serve that purpose. This thread was not a debate around the type of car I am buying, but many thanks for your 'fun shed' suggestion nonetheless.
Porkupine said:
The idea is to buy and pay in full in cash (unless PCP allows a smoother sale), so the money is available, it is not for purpose of showing off. Not that it is any of your business.
Also , the car is being bought to serve a particular purpose. A 'fun shed' is not going to fulfill the required criteria to serve that purpose. This thread was not a debate around the type of car I am buying, but many thanks for your 'fun shed' suggestion nonetheless.
Great. Then why flog 100k car in 6 months?Also , the car is being bought to serve a particular purpose. A 'fun shed' is not going to fulfill the required criteria to serve that purpose. This thread was not a debate around the type of car I am buying, but many thanks for your 'fun shed' suggestion nonetheless.
ETA: What purpose, other than picking up high-brow clients would you need a Bentley for?
Edited by Mr SFJ on Tuesday 20th May 16:19
Gassing Station | General Gassing | Top of Page | What's New | My Stuff