I recently configured two cars on DtD, as I also did on OrangeWheels. Reading the not so small print closely, one of them had a £750 additional charge if I did not take out a PCP with the supplying dealer. I was a bit miffed about that so I did not press GO.
Now awaiting feedback from CarWow to see if any main dealers can provide a competitive quote.
One of the problems of getting older is a lack of wanting to compromise on specification. As I intend keeping the next car for a number of years, I want a specific colour and several specific options, and nothing seems to match my requirements on the second hand market. Drat.
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I think in true helpful C4P style, you should let us all know exactly what you are after and lets see who can get the best deal for you.!!
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>> I think in true helpful C4P style, you should let us all know exactly what
>> you are after
In true C4P style suggest a load of different choices of car, ending with a mondeo after a rash of VX insults.
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Why didn't I think of a Mondeo? Doh
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"a £750 additional charge if I did not take out a PCP"
If you go to a dealer you would find this is pretty standard. Usually a 'deposit contribution' funded through the finance company. If you don't use the finance, there is no contribution to be had. Where is the problem?
If it is that its in the 'not so small print', then thats really just a pitfall of trying to use the internet rather than dealing face to face.
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It's always worth checking what your options are for terminating the PCP agreement early.
Ford in particular used to have very small termination fees, and, on a salesman's recommendation, I have bought one, terminated the agreement as soon as I could (a matter of days, and all done on-line) and realised the great majority of the "deposit allowance" over and above a very decent deal price.
Not something I'm particulalrly comfortable with, but actually, on that deal, the finance costs for running full term were also less than the allowance!
I was told it was a way Ford could apply extra (hidden) discount to the market, and that the great majority of customers (at that dealer) took advantage of it. It wasn't pushed at all, it was a take it or leave it option.
Caveat emptor, of course, as there will be great differences in the various finance plans.
FWIW, I have also in the past bought through DtD, and found the whole process quite painless, with a very good deal on a stock car.
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>> Reading the not so small print closely, one of them had a £750 additional charge if
>> I did not take out a PCP with the supplying dealer.
Might be worth raising with advertising standards if not obvious.
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Early settlement terms are much fairer than they used to be, and prescribed by the regulator. You all have a 14 day right I withdrawal.
It has been known for dealers to say that you have to keep the HP for say 6 months, Andrew when it is pointed out that this is illegal to claim I is a gentleman's agreement (6 months being the point at which the commission won't be charged back to them).
In other words, you can take it out and then early settle it - just make sure it isn't a lease.
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>> Early settlement terms are much fairer than they used to be, and prescribed by the
>> regulator. You all have a 14 day right I withdrawal.
>>
You can do this, but it's very unclear if you'll lose deposit contributions and any other offers (ie free servicing) that might be thrown in.
Logically, if you withdraw, you'd expect to revert to the position of not using finance. But in the few examples I've seen of people doing this, they did keep the benefits.
Once you go over 14 days you can settle the finance and definitely keep the benefits - the interesr charge would be tiny but the downside here is that you'll then be liable for the fees, which could be a few hundred pounds, that go with the agreement.
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>> one of them had a £750 additional charge if I
>> did not take out a PCP with the supplying dealer
Don't know about your deal but in the Ford PCP-based deals you 'only' need to take out £2.5k to qualify, not the cost of the car, if that helps.
Last edited by: Focusless on Wed 11 Feb 15 at 10:37
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>> Don't know about your deal but in the Ford PCP-based deals you 'only' need to
>> take out £2.5k to qualify, not the cost of the car, if that helps.
>>
On the Honda we recently bought there was a £500 contribution but only if we took the 0%, no fees, PCP.
I'm somewhat baffled by this, and was miffed to be "forced" to take the PCP but the dealer just shrugged, and Honda ignored my strongly worded email.
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I guess they just take the view that getting people into PCP will increase stickiness.
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From memory I seem to recall that last time I went down the Drive the Deal route, the small print said you had to take out the PCP for the low rate, but also you could cancel the PCP immediately at no penalty (or a £50 admin fee or some such triviality in the scheme of things).
I didn't proceed for other reasons so not sure what the reality would have been. And perhaps they ditched that anyway, if everyone was doing it.
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I thought there was some sort of legislation about offering different prices, to cash customers and credit customers, for the same item?
Last edited by: Roger. on Wed 11 Feb 15 at 17:14
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Correct, they are on a sticky wicket if they charge a higher price on credit because it means the APR is understated. It doesn't work the other way though.
But what they can't do is to take away your right to settle the agreement, and the stipulated terms on which you must be allowed to do that.
I suppose the right-of-withdrawal route could be moot, as it effectively annuls the agreement.
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FIL had this last year with his new Leon. Being in his 60's he was perplexed as to how it was cheaper "on tick" than it was to hand over the readies, but he went along with it and settled the balance later. Think he had to wait a month from memory
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Yes, we 60+ year olds are easily befuddled :)
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Haha, just re-read my post and it is a little condescending.
The point I was making was that he was of the opinion he should have got a better deal by paying cash, and not by taking a finance product
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>> I thought there was some sort of legislation about offering different prices, to cash customers
>> and credit customers, for the same item?
>>
Yes, I think that's more geared to not being charged more for credit though.
I'm sure the car company's finance arms have this sussed, but it does seem to be breaking to be breaking the spirit of the law.
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To be fair to DtD, I was very impressed with both the website and my first point of contact with them. The extra charge of £750 for not taking PCP with the supplying dealer was write large on the webpage, and when I rang them to enquire about delivery dates I was told about the charge without any prompting on my behalf.
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I intend to use the full ( which includes the £750 extra) price from DtD as a bargaining tool when I next visit a main dealer. I have no intention of paying a penny more though!
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>> I intend to use the full ( which includes the £750 extra) price from DtD
>> as a bargaining tool when I next visit a main dealer. I have no intention
>> of paying a penny more though!
Dealers are getting wise to that one and won't always play ball. The Cit dealer in Northampton wouldn't go beyond list less Cit's £1k discount and a nugatory £250 or similar dealer discount. Neither would he match or approach the price offered by the MK dealer, Perrys. he latter go the gig and subsequent servicing.
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If you always go for the lowest possible cost you will eventually only have the lowest cost suppliers to deal with. Since most of them, in any industry or market, whether cars, white goods, car insurance, banking, or whatever, cut something, usually service or quality to reduce costs, you will end up with nobody left to provide extra help, goodwill or any other kind of non chargeable service.
If that's the kind of society you want to live in, good luck.
Just my general view of the world we are heading for
Last edited by: commerdriver on Thu 12 Feb 15 at 15:10
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Disagree with you. In a previous retailing life I was cheaper than my competitors. Lots of my customers, even friends, paid lots more because it was easier and more convenient buying from nationwide retailers and big sheds. The products I offered from 4 small retail outlets were far cheaper, free home delivery at a time to suit, and accountable staff.
I sold out, and now work as a part time employee in a similar retail environment. Cheapest is sometimes best. Whether it be price, or quality of service
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I've bought through them before and had a positive experience.
If they can offer what you want then why not just give them the business?
Last edited by: mikeyb on Thu 12 Feb 15 at 17:57
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Yes mickeyb that is what I intend to do.
Next week I have a few days off work, and if two local dealers can match the price then they get the business. I doubt they will, but I i shall give them the opportunity for half a day of my time.
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>>I've bought through them before and had a positive experience
>> If they can offer what you want then why not just give them the business?
It looks a fairly simple process to me and I believe that the car can be collected from the designated main dealer, or delivered to your home for no extra charge.
However, I would almost certainly give my excellent main dealer the opportunity to match their price.
Last edited by: Clk Sec on Fri 13 Feb 15 at 08:50
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...
>>
>> It looks a fairly simple process to me and I believe that the car can
>> be collected from the designated main dealer, or delivered to your home for no extra
>> charge.
>>
....
..and if you choose to collect, as the dealer funds the delivery you now won't need, make sure you at least get a full tank as part of the arrangement.
I did... ;-)
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Drive the Deal - BobbyG
