Lease trade in negotiation
Discussion
I've reached 3 years on my 4 year lease and i'm getting to the point where i need quite a far bit of work done on the car maintenance wise. (Service inc Stronic + MOT) so i'm looking to see if I can move to something new.
I'm going to have a dice with the devil tomorrow (Dealer) and discuss options. I think i'm in a goodish position (if i could ever be with an asset that depreciates), i'm at the point where i can VT this agreement.....but i've had a bit of wear and tear over 3 years, i've got a knock on this car where someone kindly didn't bother to own up and left a nice crease dent down to metal, a bumper scrape (again someone driving off) and then a scrape on a wheel arch (Yes you guessed it...someone else not owning up).
Anyway
1. Has anyone VT'd an agreement, i'm thinking about using this as a bargaining chip (Although im worried about the wear and tear)
2. Would the dealer bend on this wear and tear if i'm looking to get in something new to line his pockets for the next few years?
I'm going to have a dice with the devil tomorrow (Dealer) and discuss options. I think i'm in a goodish position (if i could ever be with an asset that depreciates), i'm at the point where i can VT this agreement.....but i've had a bit of wear and tear over 3 years, i've got a knock on this car where someone kindly didn't bother to own up and left a nice crease dent down to metal, a bumper scrape (again someone driving off) and then a scrape on a wheel arch (Yes you guessed it...someone else not owning up).
Anyway
1. Has anyone VT'd an agreement, i'm thinking about using this as a bargaining chip (Although im worried about the wear and tear)
2. Would the dealer bend on this wear and tear if i'm looking to get in something new to line his pockets for the next few years?
Anything is possible.
Remember though there are always discounts on new cars so they may simply give you a lesser discount (you'd still be pleased as punch and dealer likewise).
What is the actual cost of all the corrective works required on the car? I ask as without question that will be dwarfed by the cost to change. You could carry on running it and then buy it outright beyond the PCP deal.
Remember though there are always discounts on new cars so they may simply give you a lesser discount (you'd still be pleased as punch and dealer likewise).
What is the actual cost of all the corrective works required on the car? I ask as without question that will be dwarfed by the cost to change. You could carry on running it and then buy it outright beyond the PCP deal.
We have done "skinny" deals on early PCP renewals, particulalry when there is damage, a dealer will want a sale so unleses you are spectacularly the wrong way with your finance or the damage is very bad and will cost alot, I'm sure a common ground between yourself and the dealer could be met.
HTP99 said:
We have done "skinny" deals on early PCP renewals, particulalry when there is damage, a dealer will want a sale so unleses you are spectacularly the wrong way with your finance or the damage is very bad and will cost alot, I'm sure a common ground between yourself and the dealer could be met.
But clearly OP is then on the hook for even more debt and ongoing cost than he currently is. Changing a car due to it needing an MOT £45 and a major service on a 4year old car call me old fashioned but that's insane unless you are bored of the car have plenty of cash and don't care. Welshbeef said:
HTP99 said:
We have done "skinny" deals on early PCP renewals, particulalry when there is damage, a dealer will want a sale so unleses you are spectacularly the wrong way with your finance or the damage is very bad and will cost alot, I'm sure a common ground between yourself and the dealer could be met.
But clearly OP is then on the hook for even more debt and ongoing cost than he currently is. Changing a car due to it needing an MOT £45 and a major service on a 4year old car call me old fashioned but that's insane unless you are bored of the car have plenty of cash and don't care. Check out one of the other thousands of topics on PH regarding your concern, it's getting rather boring now.
Cheers guys.
I've got 500 off on servicing plus mot. Plus two new tyres needed soon. One selling point is I've put two new fronts on.
I'm expecting the dealer to chew into the 'discounts tbh so let's see what the figures are like.
If I go to a new model depreciation probably better for next time round too as I'm on the old model.
I've got 500 off on servicing plus mot. Plus two new tyres needed soon. One selling point is I've put two new fronts on.
I'm expecting the dealer to chew into the 'discounts tbh so let's see what the figures are like.
If I go to a new model depreciation probably better for next time round too as I'm on the old model.
You need to do your homework on how much the car is worth (start with WBAC) vs how much the outstanding finance payments + GFV is.
One way or another you'll be paying for the damage, either with lower trade-in value or reduced discount. Depending on what you're looking to buy dealer may have up to 20-25% off list price to negotiate with.
Personally I'd steer clear of 4-year PCP because of guarantee/MOT/servicing costs.
One way or another you'll be paying for the damage, either with lower trade-in value or reduced discount. Depending on what you're looking to buy dealer may have up to 20-25% off list price to negotiate with.
deason said:
If I go to a new model depreciation probably better for next time round too as I'm on the old model.
Your 3-year old car will depreciate a lot slower than a brand new one. It hasn't got the same distance to plummet!Personally I'd steer clear of 4-year PCP because of guarantee/MOT/servicing costs.
When i say depreciate what i meant was what I thought the balloon payment was worth compared to what i've been given currently.
I've been into the dealer today and i was recommended to VT this agreement and do the work myself OR see what VFS say about cost of work. Value even without the damage was rediculous based on Settlement.
If i VT i might deflect and go elsewhere, I must admit i've been losing my faith in Audi for a while.
I've been into the dealer today and i was recommended to VT this agreement and do the work myself OR see what VFS say about cost of work. Value even without the damage was rediculous based on Settlement.
If i VT i might deflect and go elsewhere, I must admit i've been losing my faith in Audi for a while.
deason said:
When i say depreciate what i meant was what I thought the balloon payment was worth compared to what i've been given currently.
I've been into the dealer today and i was recommended to VT this agreement and do the work myself OR see what VFS say about cost of work. Value even without the damage was rediculous based on Settlement.
If i VT i might deflect and go elsewhere, I must admit i've been losing my faith in Audi for a while.
OP - as many have said, you need to do the maths to see whether you car has any value vs what you owe. Also be aware that VWFS are starting to charge customers excess mileage, if you are over.. Whether they can enforce this or not is hotly debated, however you may need to bear this in mind also as part of the cost evaluation..I've been into the dealer today and i was recommended to VT this agreement and do the work myself OR see what VFS say about cost of work. Value even without the damage was rediculous based on Settlement.
If i VT i might deflect and go elsewhere, I must admit i've been losing my faith in Audi for a while.
G
deason said:
Yes, just rang up and they said I would be charged based on estimates.
VT is going to be a process where they will try and screw me big time, I have a lot of things spinning through my head.
Sounds like you should be holding onto this car doing the work to keep it going and deal with it. VT is going to be a process where they will try and screw me big time, I have a lot of things spinning through my head.
I might be wrong but I think you were expecting to have some equity coming your way when it's frankly nothing like that.
Damage clearly you have to pay for it to be done before you sell or sell it with a lower price to reflect that work.
Welshbeef said:
Sounds like you should be holding onto this car doing the work to keep it going and deal with it.
I might be wrong but I think you were expecting to have some equity coming your way when it's frankly nothing like that.
Damage clearly you have to pay for it to be done before you sell or sell it with a lower price to reflect that work.
Not expecting equity, I am Upside down on eval plus need servicing done over the coming 3-4k. I might be wrong but I think you were expecting to have some equity coming your way when it's frankly nothing like that.
Damage clearly you have to pay for it to be done before you sell or sell it with a lower price to reflect that work.
I'm probably going to just need to suck this all up until next year now, i've done a spreadsheet with In/out and may revisit in march time.
Probably will go to another brand and see if the grass can be greener.
deason said:
I've reached 3 years on my 4 year lease and i'm getting to the point where i need quite a far bit of work done on the car maintenance wise. (Service inc Stronic + MOT) so i'm looking to see if I can move to something new.
I'm going to have a dice with the devil tomorrow (Dealer) and discuss options. I think i'm in a goodish position (if i could ever be with an asset that depreciates), i'm at the point where i can VT this agreement.....but i've had a bit of wear and tear over 3 years, i've got a knock on this car where someone kindly didn't bother to own up and left a nice crease dent down to metal, a bumper scrape (again someone driving off) and then a scrape on a wheel arch (Yes you guessed it...someone else not owning up).
Anyway
1. Has anyone VT'd an agreement, i'm thinking about using this as a bargaining chip (Although im worried about the wear and tear)
2. Would the dealer bend on this wear and tear if i'm looking to get in something new to line his pockets for the next few years?
In answer to point 1, you VT'ing your agreement doesn't help the dealer any more, as it'll count against them in terms of the finance renewals target. Assuming that Audi treat it the same as Volkswagen do now.I'm going to have a dice with the devil tomorrow (Dealer) and discuss options. I think i'm in a goodish position (if i could ever be with an asset that depreciates), i'm at the point where i can VT this agreement.....but i've had a bit of wear and tear over 3 years, i've got a knock on this car where someone kindly didn't bother to own up and left a nice crease dent down to metal, a bumper scrape (again someone driving off) and then a scrape on a wheel arch (Yes you guessed it...someone else not owning up).
Anyway
1. Has anyone VT'd an agreement, i'm thinking about using this as a bargaining chip (Although im worried about the wear and tear)
2. Would the dealer bend on this wear and tear if i'm looking to get in something new to line his pockets for the next few years?
deason said:
Not expecting equity, I am Upside down on eval plus need servicing done over the coming 3-4k.
I'm probably going to just need to suck this all up until next year now, i've done a spreadsheet with In/out and may revisit in march time.
Probably will go to another brand and see if the grass can be greener.
Looks like you didn't do the math when taking PCP. Avoid lease or PCP for out of warranty period, don't expect any equity, don't damage leased/PCPed cars. It doesn't matter which brand you consider, rules will be the same. 2 years lease deals (not PCP) are the best, because servicing is minimal, tyres should last without replacing with reasonable mileage and driving. Almost no additional costs. I'm probably going to just need to suck this all up until next year now, i've done a spreadsheet with In/out and may revisit in march time.
Probably will go to another brand and see if the grass can be greener.
Check VWFS wear and tear rules and pricing for damage, it could be much lower than expected and VT could be cheaper option than keeping the car.
PenelopaPitstop said:
Looks like you didn't do the math when taking PCP. Avoid lease or PCP for out of warranty period, don't expect any equity, don't damage leased/PCPed cars. It doesn't matter which brand you consider, rules will be the same. 2 years lease deals (not PCP) are the best, because servicing is minimal, tyres should last without replacing with reasonable mileage and driving. Almost no additional costs.
Check VWFS wear and tear rules and pricing for damage, it could be much lower than expected and VT could be cheaper option than keeping the car.
In my defence, door was hit with someone driving off and wheel arch scraped again under the same circumstance. Check VWFS wear and tear rules and pricing for damage, it could be much lower than expected and VT could be cheaper option than keeping the car.
The damage needs to be done (quoted 500) I have a service next month needed, and then Gearbox change. Tyres i've just done two new fronts, rear im estimating to be needed replaced about march.
Im about 1.5k over 2 year mileage.
I've had PCP's before and never had so much NE, so I think i've just been tucked up by the list price from the dealer, this is the old model, i just didn't think.
You have to approach it with spreadsheet, all expected costs vs how much it's going to cost to VT (damage + exess miles) and decide. Maybe you can get away without replacing tyres in spring. Shame you replaced two tyres already as it was additional cost before VT which you will never get back.
You have some time to read more about PCP or lease and prepare before you take another car on finance. Do your research, don't pay list price, etc.
This thread will give you idea of leasing cost and what to look out for: https://www.pistonheads.com/gassing/topic.asp?h=0&...
You have some time to read more about PCP or lease and prepare before you take another car on finance. Do your research, don't pay list price, etc.
This thread will give you idea of leasing cost and what to look out for: https://www.pistonheads.com/gassing/topic.asp?h=0&...
I've just invoked it!
Got the sheet of doom with costs in front of me and costs to move now work out better.
-Damage cost will not go away (hope whoever did it has lost more than me on this)
-service says inspection is due in 35 days or 900 miles.
-i can borrow other halfs car to keep mileage down it I expect I'll be 1500 over so not great
First mission is exiting with as little loss possible.
They will inspect the car first then tell me costs and vwfs have informed me i can cancel the VT if I do wish and any estimate is too high.
I said about the servicing on the phone and it went along the lines of "we strongly recommend" which when you look at the process sounds like I might get the collection done before i need the work done.
After this has happened I will consider what to do. PCH looks like a potential option.
Got the sheet of doom with costs in front of me and costs to move now work out better.
-Damage cost will not go away (hope whoever did it has lost more than me on this)
-service says inspection is due in 35 days or 900 miles.
-i can borrow other halfs car to keep mileage down it I expect I'll be 1500 over so not great
First mission is exiting with as little loss possible.
They will inspect the car first then tell me costs and vwfs have informed me i can cancel the VT if I do wish and any estimate is too high.
I said about the servicing on the phone and it went along the lines of "we strongly recommend" which when you look at the process sounds like I might get the collection done before i need the work done.
After this has happened I will consider what to do. PCH looks like a potential option.
Edited by deason on Thursday 24th August 13:27
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