UK now Ferrari's largest European market

[dem maser]

rough figures....friend did it with an R8 and another with a 60k BMW, 10% down and then ballon at the end but you give it back before you pay the baloon, itll loose more if you bought cash....

 

[dem maser]

didnt mean "i" i should have put "if" apologies frank......

 

[Parisien]

Interesting Dem.........can you give me a few more details, always owned a car outright, the odd one on finance over the years, but for a high end car which will loose hugely from a depreciation aspect, it does make sense


P

 

[dem maser]

10% down, a lesser monthly asa theres a baloon at the end and after the agreement you have 3 choices
1, keep it and pay the baloon
2, hand it back and use the equity to start on another one
3, hand it back

when things where going well i nearly bought a range sport, 8k £500p/m...run it through the company save some tax....thats 6k a year over 3 years its 18k, how much would a 60k sport loose over 3 years? more than 18k......

 

[dem maser]

also with cheap cars....fiat doing 2k dep and £200 p/m on the 500......

 

[Parisien]

Makes more sense though on expensive cars that will depreciate heavily as they are pro-rata going to loose a huge amount in 3 years.


P

 

[dem maser]

Ring me if you want anything....

 

[Parisien]

Cheers Dem....not sure what I will do next year when it comes around to change time.........


P

 

[Parisien]

So what exactly does this Merc dealer really mean by this.............

"We Can Guarantee The Future Value Of This Car",


P

 

[Andyk]

They will give you a buy it back price for say 3/4/5 years time....Usualy 3 years......subject to miles and condition.....Its would normaly be part of PCP.....

 

[Parisien]

So if you bought it off them outright, they'd still guarantee value if miles and condition ok?

P

 

[Andyk]

Not sure Frank as it is normally part of a finance deal....What does the advert say......The only way I wuold have thought they would garantee a future value is if you bought another Merc after 3 years say...

 

[Parisien]

Any ways, will leave til next year before delving more deeply...cheers


P

 

[Andyk]

A lot can happen in 6 months or so Frank.....

 

[dem maser]

So what exactly does this Merc dealer really mean by this.............

"We Can Guarantee The Future Value Of This Car",


P

Means nothing.....its the balloon i was talking about....they saying after 3 years we guarantee your car is worth 8k for example, you pay it or use it to start again on another one.....its always low, if 8k then car is prob worth 12k

 

[Parisien]

It was on a 2nd hand car Dem....same applies?


P

 

[dem maser]

Same.......

 

[dem maser]

Its like those people who buy your home for you cash next day...no survey....at 40% less than what its worth....
Had a customer who got desperate with debts and instead of acceptingan offer i had for him for 300k on a 340k house he went and sold it to this company for 230k as they complete in 2 days......biggest con, that company have now put house up for sale for 350k!!

 

[Felonious Crud]

Check the small print - not all balloons are guaranteed. You can find yourself having to pay to give a car back.

 

[dem maser]

Its based on condition, always going to be something wrong......they take £400 away for a slight scratch.....friend got a mito.....