Can Bargaining Advice and Tips

[TitanTim]

I find PCPs great for buying new cars, put a small deposit in and ensure you do your homework on discounts available through coast2coast and what other dealers are offering and collate it altogether before visiting your dealer of choice. It doesn't make sense to me buying pre registered if you can get a good discount off a factory order to your spec. I would steer clear of any dealer finance on a pre registered or AUC as well. I just like the flexibility a PCP offers as you can change payment amounts, pay it off early etc depending on your circumstances, give the car back or pay the balloon at the end of the agreement.

Tim.

[Ducklakeview]

I find PCPs great for buying new cars, put a small deposit in and ensure you do your homework on discounts available through coast2coast and what other dealers are offering and collate it altogether before visiting your dealer of choice. It doesn't make sense to me buying pre registered if you can get a good discount off a factory order to your spec. I would steer clear of any dealer finance on a pre registered or AUC as well. I just like the flexibility a PCP offers as you can change payment amounts, pay it off early etc depending on your circumstances, give the car back or pay the balloon at the end of the agreement.

Tim.

Which were exactly the selling points I used to push them when I was a business manager at a large multi-franchise dealer. HOWEVER, do the maths, add up the deposit/payments etc, and the balloon (plus interest on it if borrowing it) and the total is MUCH more than simple HP would be. Plus, if you are changing at the end of a PCP, rather than buying, then more often a lease will work out MUCH cheaper.

Mike

[TitanTim]

I find PCPs great for buying new cars, put a small deposit in and ensure you do your homework on discounts available through coast2coast and what other dealers are offering and collate it altogether before visiting your dealer of choice. It doesn't make sense to me buying pre registered if you can get a good discount off a factory order to your spec. I would steer clear of any dealer finance on a pre registered or AUC as well. I just like the flexibility a PCP offers as you can change payment amounts, pay it off early etc depending on your circumstances, give the car back or pay the balloon at the end of the agreement.

Tim.

Which were exactly the selling points I used to push them when I was a business manager at a large multi-franchise dealer. HOWEVER, do the maths, add up the deposit/payments etc, and the balloon (plus interest on it if borrowing it) and the total is MUCH more than simple HP would be. Plus, if you are changing at the end of a PCP, rather than buying, then more often a lease will work out MUCH cheaper.

Mike

I'm planning on buying at the end of the PCP Mike. I like doing it this way as in buying a new motor I know the cars history. I agree leasing might be cheaper if you're not planning on keeping the car. I never like buying a new car outright which I find pretty scary sinking all that cash in one hit.

Tim.

[Ducklakeview]

I find PCPs great for buying new cars, put a small deposit in and ensure you do your homework on discounts available through coast2coast and what other dealers are offering and collate it altogether before visiting your dealer of choice. It doesn't make sense to me buying pre registered if you can get a good discount off a factory order to your spec. I would steer clear of any dealer finance on a pre registered or AUC as well. I just like the flexibility a PCP offers as you can change payment amounts, pay it off early etc depending on your circumstances, give the car back or pay the balloon at the end of the agreement.

Tim.

Which were exactly the selling points I used to push them when I was a business manager at a large multi-franchise dealer. HOWEVER, do the maths, add up the deposit/payments etc, and the balloon (plus interest on it if borrowing it) and the total is MUCH more than simple HP would be. Plus, if you are changing at the end of a PCP, rather than buying, then more often a lease will work out MUCH cheaper.

Mike

I'm planning on buying at the end of the PCP Mike. I like doing it this way as in buying a new motor I know the cars history. I agree leasing might be cheaper if you're not planning on keeping the car. I never like buying a new car outright which I find pretty scary sinking all that cash in one hit.

Tim.

Surely then, it would have been cheaper to take a 5yr finance deal instead of a PCP?

Mike

[NickDE]

Phone Ashley at Palmdale. I'm confident he will be able to help you. He is always ready to give impartial, no commitment advice. They are Which? and NickDE recommended.
http://www.palmdale.co.uk/

[cj10jeeper]

Best offer of £48 finance or £53k cash. Clearly 17.8% discount is what I'd take to my local dealer to match...

Another thing to bear in mind, if you decide to buy it rather than lease - The dealers get a subsidy from the finance co, so making deals like this possible - My best friend bought a new A7 back in 2014, Audi were offering £12,500 off list if you took their finance. He PX's his 08 RR Sport, and took the balance over 2 years on HP, as his PX was more than the "permitted" deposit, he got £6,500 cashback.

Mike

My local BMW guy advised to buy on finance. They get a deposit contribution of several 000's depending on price. Settle in a few months so they retain the commission and you come out very well ahead.
Going in and buying a car cash or self financed is not a smart option any longer for dealer new cars.

Separately - although I dislike PCP's 75% of private new cars are financed this way

[Zeld4]

Thanks every one for excellent advice, I didn't get a chance to read all of them before we did the deal though! We saved 3.5k off list of a 25k car which I think works out to about a 14% saving which I'm prettty happy with. I did look at leasing as some of you have mentioned but as Tim has said I like the flexibility of the PCP and by the time you spec up a MINI and add the correct miles t the lease calculator the lease price which looks so good at first soon doesn't look so tempting.

Any way it's a Cooper S 5 door, blazing red with a black roof, chilli pack, XL media and a few other things like rear sensors, heated seats and folding mirrors. I'll put up some pics when we get it!