Car Finance - would you be annoyed?

[Stew_the_red]

Originally Posted by Princess Ariel

Thanks everyone, we’ve now secured finance with another company who have been amazing and even better we get to choose whatever car we want as long as it’s from a reputable dealer. We’ve already found a Honda Civic that we like the look of at our local Honda garage and will be test driving it on Saturday morning! Very excited! As for the other company, I last spoke to them on Tuesday afternoon and had half hearted apologies again with the sales rep actually saying he hadn’t been on the sales floor because he’s now been offered a managers job so our application will be given to someone else! He again promised to email over some potential cars but surprise surprise we’ve still not heard anything so I will be emailing a formal complaint and letting them know we’ve now gone elsewhere due to the awful customer service we have received.

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those new civics look lovely, my daughter particularly likes them in black, happy test driving!

[Pupbelly]

Originally Posted by Princess Ariel

Thanks everyone, we’ve now secured finance with another company who have been amazing and even better we get to choose whatever car we want as long as it’s from a reputable dealer. We’ve already found a Honda Civic that we like the look of at our local Honda garage and will be test driving it on Saturday morning! Very excited! As for the other company, I last spoke to them on Tuesday afternoon and had half hearted apologies again with the sales rep actually saying he hadn’t been on the sales floor because he’s now been offered a managers job so our application will be given to someone else! He again promised to email over some potential cars but surprise surprise we’ve still not heard anything so I will be emailing a formal complaint and letting them know we’ve now gone elsewhere due to the awful customer service we have received.

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Be careful with the numbers with regards to the guaranteed future value and so on. The new Civics are suffering very heavy depreciation and are not as welcomed in the 2nd hand car market as the older ones as such their used values are dropping like a stone. This may or may not affect your finance / PCP but make sure you're not left with a car at the end of the term that will be worth far less than you have to pay off or use as a deposit for your next car.

[Pagan8c]

Originally Posted by Pupbelly

Be careful with the numbers with regards to the guaranteed future value and so on. The new Civics are suffering very heavy depreciation and are not as welcomed in the 2nd hand car market as the older ones as such their used values are dropping like a stone. This may or may not affect your finance / PCP but make sure you're not left with a car at the end of the term that will be worth far less than you have to pay off or use as a deposit for your next car.

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As I understand it ,the GFV is set at the start of the finance offer and if the car is worth less you just hand it back or if it is worth more that is your deposit on a new car so I don't see where you lose. Of course you have to know what the total costs are which is shown on the invoice . This is why some people buy a better model for the same price as a cheaper model as the GFV may be higher so the monthly payments can work out less. As you say though be aware of the numbers and get a few quotes from different garages since the purchase price before PCP can be less and also some companies offer lower inerest rates. You can still haggle prices with a PCP with the garage.