change 1.2 for 172

[renaultsport83]

hi people, im 20 soon to be 21 and i really would love to change my 1.2 16v for a 172, i would have had the clio for 2 years when i turn 21 but in contract is that i keep it for 3 and either pay a settment figure or give it back. well can i give it back after 2 years and take up a new deal with the 172 without losing out loads of money??? anyone in my position?

 

[renaultsport83]

can anyone help me?

plz

 

[JPW172]

think u have to keep it for 3 years mate, dont think u can cut the contract like that bro, but i may be wrong......id go in and see and tell them what u wanna do, they may have a solution for u mate...good luck

 

[Levo]

I think you can take your car back any time, thats what my dealer told me when I bought mine the other year.

I dont know for sure - but reckon youll be a bit out of pocket. My cousin has just traded his Corsa in early and reckons he still owes them at least £1.5k in finance, I think he only had the Corsa for about 7months though.

 

[cliopower]

you can take it back to them but you wont much money (there should be a figure on your agreement - usually less than half), however your contract will be terminated and you will not owe any more money to the finance comapny (is it black horse finance). Anyway, you are allowed to pay in full at any time under the credit act - this includes the dealer settling your finance when trading for the 172, however you will probably have a bigger loan - £14,000 for the 172 + outstanding finance after deduction of the value of your exisiting car... so I estimate it at about 17k for a new 172, but you could get an 02 for about 10k and thats without considering insurance, unless the dealer is willing to accept you for 1 year but then you are screwed the next year while still paying finance and if you have to claim then good-bye 172. Dixons do a 3 year deal.

 

[spirez]

i wa sunder the impression that ypou can part exchange the car for a new one

 

[cliopower]

yes but he does not own the car...the finance company does untill he pays up in the 3rd year or its settled. Lets say the dealer offers him 6.5k and his out standing finance is 2.5k + buying fee then the dealer pays the 2.5k etc when they accept the trade in, so he is left with 4k off the 172.....so then he has to get 10k on finance again.

I didnt see before that youve already paid off 2 years of it.

 

[edde]

Ive done a massive post on this a whil;e back basically you can ring up the finace company and get a settlment figure and then get the garage to arange the extra value of the car (after the finacne has been payed of) to be used towards a 172. Ill warn you now you may get very little. Since your looking at paying another £1800 till the end of the contract and then another £3500 to buy the car (I think there the normal figures) then if they give you £5.5k for the car your looking at having only £200 left to put towards a 172.

You can take the car back 1/2 through the contract ie 18months and as long as you havnt exceeded the alowed milage in that time (your allowed about 900 a month I think) then you can walk away.

You maybe better if you dont get much on agreement for the 1.2 to go to an importer or drive the deal place for a new 182 (about £11.2K I think) and when you pick the 182 up drop the keys for your 1.2 of at the dealer your picking the car up from. Bets ring the finace company on the phone though.

EDD