Anything wrong with these figures?

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

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?

DaveByDavid

https://www.boards.ie/discussion/comment/118388363#Comment_118388363

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.

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

DaveByDavid

https://www.boards.ie/discussion/comment/118388492#Comment_118388492

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?

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

DaveByDavid

https://www.boards.ie/discussion/comment/118388556#Comment_118388556

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.

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.