New Car (200 deals)

[brisa4984]

Ive got it here. In the section of settling the balloon.

If the final rental will become immediately due when the goods are sold and if the netsale proceeds (that is, the sale proceeds after deduction of the costs and expenses of sale) are:

1. less than the final rental, you will not be required to make up the shortfall.
2. more than the final rental, any such excess shall be retained by us as sales commission.

It says in there that they will act as agents to sell the car if you decide to give it back. They need commision, and hence thats where i see them making their share on such a good deal. I presume. Im completely new to finance so perhaps yep im confused :S

 

[Bluebeard]

Ive got it here. In the section of settling the balloon.

If the final rental will become immediately due when the goods are sold and if the netsale proceeds (that is, the sale proceeds after deduction of the costs and expenses of sale) are:

1. less than the final rental, you will not be required to make up the shortfall.
2. more than the final rental, any such excess shall be retained by us as sales commission.

It says in there that they will act as agents to sell the car if you decide to give it back. They need commision, and hence thats where i see them making their share on such a good deal. I presume. Im completely new to finance so perhaps yep im confused :S

Yeah they've just worded it really badly.

Effectively what they're saying is that if the cars got a £8k balloon payment and you hand it back and the market value is £6k, you just give them the keys and walk away. No bother.

If the cars worth £11k and the balloon is £8k and you still hand it back, you lose the £3k equity as by handing it back you've washed your hands of it.

If you decide to buy another car, then the equity (if any) will be used as a deposit on the new car.

 

[brisa4984]

^ cant get more clear cut than that .. cheers daniel

 

[Bluebeard]

No probs.

If you do go ahead with it, just make sure that what i've said is what they say aswell as I don't want you to buy a car based on me giving you wrong advice! lol.

 

[brisa4984]

lol.. not to worry mate.

 

[Ad]

cracking on both the 200 and 250.

There will be a really long clue. £250 a month for the cup with speedlines, AC and recaros. Hmm i am tempted!

 

[ForceIndia]

cracking on both the 200 and 250.

There will be a really long clue. £250 a month for the cup with speedlines, AC and recaros. Hmm i am tempted!

Me too lol all I'd want is ac though, sack yellow seats in a red car.

 

[matt|H]

Right so if the balloon payment is more than the value of the car then just leave it and start a new plan with deposit from your pocket.

If the value is more than the balloon then hand it back AND use the price difference as a deposit on new vehicle.

If that's right then it's just a gamble really? You hope it'll be worth more but only time can tell. At the end of the day it's not a huge deposit so just make another.

Not entirely sure if I should go for PCP on a twingo... Any advice?

 

[brisa4984]

recaros are so awesome tho

 

[Da]

PCP on a Twingo isn't necessarily the right way to go - it depends on the value of the car.

Are we talking Twingo 133/Gordini?

Brand new Twingo i-music in my local dealer is £150 p/m on 0% APR over 3 or 4 years. PCP is often 5/6% flat over 3 years.

 

[brisa4984]

Right so if the balloon payment is more than the value of the car then just leave it and start a new plan with deposit from your pocket.

If the value is more than the balloon then hand it back AND use the price difference as a deposit on new vehicle.

If that's right then it's just a gamble really? You hope it'll be worth more but only time can tell. At the end of the day it's not a huge deposit so just make another.

Not entirely sure if I should go for PCP on a twingo... Any advice?

If the balloon pyment is more than the value of the car - just give it back and expect to pay some cash for imperfections.

If the value of the car is more than the balloon then hand it back and use the equity to fund a new pcp with a new car. Or pay the balloon and keep it.

Look at 2 year old twingos now.. if the the balloon payment is less than then a 2 year old twingo then you can pretty much expect to have equity from what i understand.

 

[Ad]

Me too lol all I'd want is ac though, sack yellow seats in a red car.

Yeah the yellow thing is very strange!

Right so if the balloon payment is more than the value of the car then just leave it and start a new plan with deposit from your pocket.

If the value is more than the balloon then hand it back AND use the price difference as a deposit on new vehicle.

If that's right then it's just a gamble really? You hope it'll be worth more but only time can tell. At the end of the day it's not a huge deposit so just make another.

Not entirely sure if I should go for PCP on a twingo... Any advice?

Your not paying a massive monthly payment, its unlikely there will be much positive equity. Its a renault after all...

If you have positive equity, then the dealer clears the finance and takes the vehicle in Px. You dont hand it back the finance company.

 

[matt|H]

Quick search looks like they go for about £2k over the OFP

So in theory if the same offer is around in 2 years I could trade this one in and get a megane instead Sounds good to me!

Would you have to use all the equity on the deposit or could you... Have it? Lol

 

[Da]

Just to clarify a point - the yellow is the RenaultSport brand colour, hence the Recaros and the yellow dash/seatbelts option and rev counter.

 

[brisa4984]

Quick search looks like they go for about £2k over the OFP

So in theory if the same offer is around in 2 years I could trade this one in and get a megane instead Sounds good to me!

Would you have to use all the equity on the deposit or could you... Have it? Lol

clear the balloon, sell privately and "have it" lol

 

[matt|H]

Ah yes I see.. Suppose the only bad thing would be getting the money to pay it to begin with.

Is it possible to offer a bigger deposit and pay less per month/at the end on a second PCP plan for example?

Plan was keep the twingo for 2 years then get another finance deal and buy that car at the end.

 

[Da]

Yes, most are on £1k deposit but a larger deposit will lower your payments.

 

[Bluebeard]

Yes, most are on £1k deposit but a larger deposit will lower your payments.

And if the cars in negative equity when you return it and you hand it back, you've lost even more money!

PCP's were designed for low deposits.

(Just pointing it out, not a dig at your statement)

 

[Da]

Completely agree Daniel, it was a simple answer to his question

 

[matt|H]

Hm I see.. Might just take the plunge!

 

[_williams_]

And if the cars in negative equity when you return it and you hand it back, you've lost even more money!

PCP's were designed for low deposits.

(Just pointing it out, not a dig at your statement)

but say you're in equity on a twingo at the end of the 2 years, could you say go onto a clio, put down a larger deposit (the equity on the twingo) and rather than take it off the monthly payments, continue paying £199 and have it deducted from the final payment?

 

[Ad]

Quick search looks like they go for about £2k over the OFP

So in theory if the same offer is around in 2 years I could trade this one in and get a megane instead Sounds good to me!

Would you have to use all the equity on the deposit or could you... Have it? Lol

got to remember thats trade not retail pricing.

Cant recall what the GFV is on the 200 deal.

 

[Ad]

but say you're in equity on a twingo at the end of the 2 years, could you say go onto a clio, put down a larger deposit (the equity on the twingo) and rather than take it off the monthly payments, continue paying £199 and have it deducted from the final payment?

Yeah they will model it how you want to certain point, but there becomes a certain point when you may as well go onto HP.

PCPs like this deal work best when there is contribution from the manufacturer towards the interest rate.

 

[brisa4984]

8725

 

[Ad]

8725

actually, yeah there is a really good chance of being positive equity. The megane 250 deal isn't quite so solid at 14.5k imo.

 

[salwal40]

Just remember one thing. In this case you have 3 options.
Low monthly costs and the dare I say it, a fair chance of making a good deal in 2 years. Trade it in, Keep it or just walk away.

Take a look at Leasing or Contract Hire.
You pay a deposit of around a Grand and then pay a lot more than £199 a month for a min. of 36 to 48 months. Then you have no choice but to walk away.

No Brainer, The LOOKERS deal is one hell of a way to drive any Renaultsport.

Megane Delivery now confirmed for 1st week of Sept.

 

[Rochester TVR]

Ordered one today.

200 Cup, White, Recaros.

£1000 Deposit, 24 x £251 and 6k per annum.... Im happy with that

Just got to wait til July now!

 

[Ben10]

HP - You pick the car over a certain number of years, maybe 5.
You pay that amount for the five years and the car is yours (if you want to change your car early, you will get a settlement figure (the amount you have left to pay minus the interest) - a garage will then buy your car as part exchange and you HOPE its worth more than the settlement figure)

PCP - you basically get the car on a loan, you have it for lets say 3 years, paying similar to what you would over a 5 year HP scheme, yet once the 3 years is up you can either hand it back to the company and go for another car, or you can pay a balloon payment (an amount which is worked out when you originally buy the car) and once you pay this then the car is officially yours (to keep/sell privately/whatever you want)
PCP has things like condition restrictions and mileage plans where you can only do a certain number of miles in the car per year (the less predicted amount the cheaper the payments) and the car has to be handed back in a certain condition.





Just for those who need it clearing up

 

[brisa4984]

Ordered one today.

200 Cup, White, Recaros.

£1000 Deposit, 24 x £251 and 6k per annum.... Im happy with that

Just got to wait til July now!

not a bad wait!!

 

[Rochester TVR]

not a bad wait!!

Yeah I got lucky and found a dealer that had an unsold allocated build slot but was still able to alter the spec to my own.

Every other dealer couldn't get one before 17th September...

I was offered a very good alternative deal by Renault Romford, someone on here might be interested... they have an Albi Blue RS200 (non cup) coming in at the end of the month, its got recaros, and a load of other options, its quite high spec (except the cup chasis).

On the same deal, £1000 in, it is 24 x £248! I was very tempted with the offer but I intend to track my Clio so the lack of the Cup chasis is what stopped me going for it, plus I wasn't interested in any creature comforts.

Seemed like a fantastic deal for someone that wants something more biased to road use. I cant remember the salesmans name but he wasn't at all pushy, just hungry for a sale which is a refreshing change.

 

[brisa4984]

^ needs cup chassis shame: (

 

[salwal40]

The deal with LOOKERS Mileage is 6K a year, anything over is 6p a mile.

I will do at least 13K, so 7K over the allocation.

7000 x 0.06p = £420 = NOT A LOT.

And if your keeping the car anyway, this figure is irrelevant.

Deal does finish end of June.

 

[coatesy]

just been on the phone to lookers in chester they said speedlines and recaros £244 or with 10k miles a year recaros and speedlines £260

 

[Da]

For those of you that aren't members over on RS, this may be of interest to you -

Morning all,

As you may or may not be aware, Renault are withdrawing some of the support on certain RS models from the 1st of July.

This will lead to a lot of the offers you have seen from dealers on here being withdrawn.

I'd like to take the opportunity to offer factory ordered RS models from £197 / month, (Megane 250 Cup), or £199 / month, (Clio 200 Cup).


T&C's apply, yadda yadda yadda.

Please PM me if you'd like a PDF copy of the advert with full details but please remeber these offers are based on ordering cars prior to the end of this month.

Regards

HarrattsRW

Might be worth looking into?

 

[brisa4984]

^ yeh

 

[Timmay]

just been on the phone to lookers in chester they said speedlines and recaros £244 or with 10k miles a year recaros and speedlines £260

yep was told the same from Chelmsford Lookers

 

[Šįk]

-Regarding PCP's or similer.

is it me or is this just a waste of money? As you end up with nothing after the 2years of ownership, your besicly just renting it out..??

Personally I want to build up a car base of money to slowly grow over the years so I have money in the car for when income to sell etc?

Maby I'm just confused but I don't see sense in "renting" a car? Because let's be serious, people will just give the car back n get another.. So your constantly renting..

Wouldn't the more sensible thing to do is just finance the Whole payment of the car over 3/4years then sell it and have 7-10k to put into a new car and so on making the car base saving slowly grow ..... If you get me??

PSJ.

 

[brisa4984]

I seriously cant make up my mind .. anybody have opinions on these (same price)

either

200
cup chassis
metallic paint
black speedlines

OR

200cup
a/c
G,White
recaros
black seedlines

driving me mad

 

[nth]

I seriously cant make up my mind .. anybody have opinions on these (same price)

either

200
cup chassis
metallic paint
black speedlines

OR

200cup
a/c
G,White
recaros
black seedlines

driving me mad

black or mercury are the only two colours to go for, the others are abit much imo

 

[Ad]

-Regarding PCP's or similer.

is it me or is this just a waste of money? As you end up with nothing after the 2years of ownership, your besicly just renting it out..??

Personally I want to build up a car base of money to slowly grow over the years so I have money in the car for when income to sell etc?

Maby I'm just confused but I don't see sense in "renting" a car? Because let's be serious, people will just give the car back n get another.. So your constantly renting..

Wouldn't the more sensible thing to do is just finance the Whole payment of the car over 3/4years then sell it and have 7-10k to put into a new car and so on making the car base saving slowly grow ..... If you get me??

PSJ.

Think of it as only paying the depreciation.

Even if you put the cash in upfront, you still loose money each month as its value drops.