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Anything wrong with these figures?

  • 29-12-2021 7:14pm
    #1
    Registered Users Posts: 328 ✭✭ DaveByDavid


    Going to pick up our new EV in January. Was hard to get any money off but they did us a deal where we get a couple of extra products for "free" (GAP insurance and paint protection). I know they might not be needed but no harm if they're free.

    We paid a 1,000 euro deposit which we will get back to buy them and theyve reduced initial car deposit by 1000 to compensate. Am I missing anything with the way they've done it?


    HP 5.9% APR ( Original Figures)

    Car - €56,175

    PX - €1,000

    Deposit - €30,000

    Financing - €25,175

    Monthly’s - €585.65over 48mths


    HP 5.9% APR ( Restructured Figures)

    Car - €54,675

    PX - €500.00

    Deposit - €29,000

    Financing - €25,175

    Monthly’s - €585.65over 48mths



Comments

  • Registered Users Posts: 72,776 ✭✭✭✭ colm_mcm


    If there was an option for 0% PCP you might save 3 grand, doing less of a deposit up front and having a final payment instead?



  • Registered Users Posts: 328 ✭✭ DaveByDavid


    I meant more - is there any issue with how they've done the figures to save the grand? Monthly payments still the same but slightly less deposit.

    Seems okay but wanted to double check.

    As for PCP it's actually the same 5.9% unfortunately.



  • Registered Users Posts: 72,776 ✭✭✭✭ colm_mcm


    So basically they’ve discounted the new car and your trade in by €500


    Im confused about where the €1000 deposit has gone



  • Registered Users Posts: 328 ✭✭ DaveByDavid


    This is where I want to make sure I'm not being screwed over and trying to get my head around it.

    I'd have had that 1,000 back and used it with the 29,000 additional to pay 30,000 deposit.

    In the new scenario I still have to stump up an additional 29,000 but the 1,000 I'd get back goes on additional products.

    So either way I'm paying 30,000 but in one I get 2 "free" products.

    At least that's how I think it's working?



  • Registered Users Posts: 72,776 ✭✭✭✭ colm_mcm


    I’d say they’re running that through the books so the salesman will get his commission on the extras at big list-price.


    id be looking for actual figures as per what will be on the finance documents. The extras should be part of the vehicle price, I feel your €1000 is being diverted from the deal and going through as a separate transaction



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  • Registered Users Posts: 328 ✭✭ DaveByDavid


    It definitely will be separate.

    Question is does that matter to me? Naturally they're doing what's best for their margins but as long as I get something to that seems okay?

    My monthlies will be same either way and I'll spend same amount of money, I'll just get the 2 products for free in one, but not the other.

    Unless I'm missing something. Never bought new through a dealer before.



  • Registered Users Posts: 328 ✭✭ DaveByDavid


    Just bumping this one before I pick up the car. All seems okay but just double checking with a lot of people who probably know more than me.



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