Peugeot 2008

Zander75

Hi, quick question, looking at getting a new Peugeot 2008, going to avail of the scrappage deal and going for hp or pcp, could I expect to get much discount of the list price? Thanks

MarkN

Zander75 wrote: »

Hi, quick question, looking at getting a new Peugeot 2008, going to avail of the scrappage deal and going for hp or pcp, could I expect to get much discount of the list price? Thanks

Trading and getting scrappage etc all limit your ability to negotiate further but it’s always worth asking for more. My understanding from talking to some dealers is that sales are quite strong despite everything so they may not be overly willing. I feel Peugeot will be hungry for market share however so just ask and when it gets as far as it can go, ask for a full tank of juice, 12 months road tax etc

Zander75

And with regards to GMFV, is there any negotiation in this, the quote I l, got this came in at about 1/3 of the value of the car. I would intend to keep the car at the end of the pcp but trying to keep the repayments as low as possible. Thanks

bazz26

The GMFV is set by the manufacturer and this is what you still owe on the car after the 3 year PCP deal finishes, there is no negotiation of it.

Remember you are still buying a brand new car based on it's purchase price, all PCP does is change the structure of how you pay for it over 3 years.

At the end of the 3 years you have 3 choices:
1. Hand the car back and walk away with nothing.
2. Trade it in against another new car on PCP where the trade in value needs to be greater than the GMFV that you still have to pay, this difference will be your equity towards the deposit for the next car.
3. Keep the car and pay off the outstanding GMFV amount either via a lump sum or through refinance/loan.

I suggest doing some further research on how PCP works before signing up to any PCP deal as it sounds like your not fully versed on how it works.

Zander75

Thanks Bazz, I do understand how it works, and it would be my intention to pay the GMFV at the end of the term to own the car, we generally keep our cars til they’re done ��. It’s just that years ago I recall my sister in the uk being able to negotiate the GMFV up so that the monthly payments came down, I realise that I would end having to pay more at the end of the term to own the car, it’s just at this moment in time I’d like to keep the monthly repayments as low as possible, because it’s for the wife and I’ll probably end up having to pay them ��

bazz26

The only way to reduce the monthly payments is by going in with a higher deposit. The max deposit for PCP would be 30% of the purchase price but it's not advised to go with a max deposit as it means you have more money to lose if you have to hand the car back or come up with a similar deposit to keep similar monthly payments if you want the option of going PCP again in 3 years time. Remember 3 years from now is a long time and circumstances can change dramatically between now and then so it's best to keep as many options open to you as possible.