Early PCP trade in

paddymac83

Inquiring here to see if anyone else has experience on early trade in with a PCP car. My wife took out 36 months PCP on a new 171 RAV4 in January this year. Overall the car value was worth €39,000 OTR, we part exchanged her old car for €6,000 and from memory put another €3,000 to it. Monthly re-payments are €500. All that was going well until we find out she's pregnant with twins, so we're now needing a 7 seater to cope with a family of six. Her due date is mid June so timing might be right for 182.

How much will we have to fork out to trade up / address any negative equity? Looking at a new Toyota Land Cruiser LWB in the region of €58,000 OTR.

I know talking to the main dealer is going to be suggested here, but I'd like to gain perspective from others beforehand.

colm_mcm

€58k gets you a crewcab land cruiser. They’re completely overkill unless you’re doing heavy towing or something. I think the passenger 7 seat is over €100k now.

paddymac83

Was in with Toyota, they do business premium model that has passenger seats for €58k.

micks_address

Do you have to stick with Toyota? Any other marquee will trade you out of pcp

Mooooo

paddymac83 wrote: »

Was in with Toyota, they do business premium model that has passenger seats for €58k.

Double check that as that model as I understand it is a 5 seater and the reason for the lower price is that the areas behind the back seats is a load area of a certain size. Normal commercial lancruiser would only be 2 seats.

paddymac83

micks_address wrote: »

Do you have to stick with Toyota? Any other marquee will trade you out of pcp

Not necessarily. Was thinking out of handiness sakes going back to them.

carsfan2

If you have already visited the dealer than have you not discussed your equity situation for a new car?
Personally, I would visit a few dealers to get a value for the rav4 and not restrict myself to Toyota.
You have plenty of time to research if twins not due until next summer.

colm_mcm

paddymac83 wrote: »

Was in with Toyota, they do business premium model that has passenger seats for €58k.

Not 7 seats though. It’s a crewcab.

Aside from the price, the Land Cruiser 7 seater is terrible at being a people carrier. It’s a very capable off roader or towing vehicle but it’s not cut out for what a family of 6 needs. It’s a development of the 2003 model so is way off the pace when it comes to safety.

commited

Land Cruiser is totally OTT for what you need. If you must stay Toyota, have a look at the Prius+

Obvious Otter

commited wrote: »

Land Cruiser is totally OTT for what you need. If you must stay Toyota, have a look at the Prius+

Wouldn’t it be quite cramped up at the back? Not much space to play around with with the seats up.

colm_mcm

Obvious Otter wrote: »

Wouldn’t it be quite cramped up at the back? Not much space to play around with with the seats up.

Have you seen the Land Cruiser!



You'd want to be looking at something like a VW Saharan at a minimum.


Proper individual seats that slide independently. And an actual boot


Prius+ would be too small to be practical for 4 kids, its sub-Zafira/Verso size.

Lantus

Congrats on the twins!

So you've paid 23% deposit and assuming say 15 payments before next June (you can work out the exact amount) another 7500. However this includes interest. Lets say 6000 for simplicity. So 15k paid off a 39k car. Thats 24k.

The depreciation curve on a rav4 is about 75% after 18 months. so 29k. That should provide 'some' leverage in theory given that you paid a higher deposit.

The detail in terms of interest will mitigate that as will the desirability of this vehicle. You should be arrange to meet the dealer and get these figures thrashed out asap so you know where you stand.

There are a plethora of 7 seaters on the market. Some are simply outstanding and are being desgned with the family in mind. the landcruiser gets poor to mediocre reviews across the board and is way behind compared to its rivals. I would urge you to review the market as you time to do so and read up and watch you tube vids with the wife to look at a range of other options.

Most manufacturers should be very willing to settle your finance and use any margin to fund another vehicle.
However, I would have that chat with your dealer now. If he gives a less than optomistic view of your options next June then I would start to set something aside for another deposit as a contingency.

If your mileage will be low (say if wife will use full time) then possibly look at buying outright.
As always crunch the numbers to see what benefits you the most and look at all the options, whether PCP, HP, loans etc.

EDIT: by way of example the new 5008 comes with massaging front seats. Any woman with 4 kids might see some benefit in those!

donalallen

Hi Would be interested in understanding where to get realistic depreciation curves for Irish cars.

theoneeyedman

donalallen wrote: »

Hi Would be interested in understanding where to get realistic depreciation curves for Irish cars.

Others might have more data driven answers, but I often think of the rule of 3 and it's not far off generally. Ie, @3 years old, car is worth half its new value, after 6 its worth half of what it was @ 3 years, @9years half of 6 years.

Like I say, it's probably not 100% correct, but a good rule of thumb

PaulRyan97

Toyota are actually bringing the 7 seat Highlander SUV to the market very soon, that might be worth looking into? Much better family car than a Land Cruiser.

https://www.toyota.ie/world-of-toyota/highlander

The twins are 3 years old now lads.