Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Please note that it is not permitted to have referral links posted in your signature. Keep these links contained in the appropriate forum. Thank you.

https://www.boards.ie/discussion/2055940817/signature-rules

PCP Offer - Seem correct?

2»

Comments

  • #32
    colm_mcm
    Registered Users, Registered Users 2 Posts: 73,296 ✭✭✭✭colm_mcm


    Heisenburg81 wrote: »
    €5k TI or scrappage thus if you hadnt a car it is €27k new straight purchase.

    Yes in theory. In reality there are ways around this, Hyundai has been doing these deals for a few years now. My point is, when you come to trade in the car, Hyundai will still be trying to give these away but they'll be a 3 year old model by then. Dealers of other marques are very aware of what you can buy particular cars new for, and will base their trade in price on that.
    If in 2021 a new version of your car can still be bought for €22k straight (and that's very likely) then no dealer will give you the money you're expecting for it. I'm not trying to piss on your chips here, but €27k is Golf Highline money so Hyundai will always have to discount the i30 to compete.


  • #33
    veetwin
    Registered Users, Registered Users 2 Posts: 2,002 ✭✭✭veetwin


    Heisenburg81 wrote: »
    Retail price €26,950.00

    Trade in € 5,000.00

    Cash €4,000.00

    Finance amount €17,950


    PCP 36 months €341.00 per month ……..based on 25,000km PA, ……….GFMV €7,898.

    This means interest totals €2,224.
    How can this be correct? Would amount to 20% interest if calculated on the Finance Amount less the GMFV?!!

    As colm says your into Golf Highline territory here. Mrs veetwin bought a 162 highline with dsg and every possible bell and whistle added and her initial deposit was less than this and her monthly payment is €270 odd. Her gfmv is iirc about €9k. I'm sure the Hyundai is a fine machine but I and many others would have a golf every day of the week.


  • #34
    thierry14
    Closed Accounts Posts: 940 ✭✭✭thierry14


    veetwin wrote: »
    As colm says your into Golf Highline territory here. Mrs veetwin bought a 162 highline with dsg and every possible bell and whistle added and her initial deposit was less than this and her monthly payment is €270 odd. Her gfmv is iirc about €9k. I'm sure the Hyundai is a fine machine but I and many others would have a golf every day of the week.

    Hyundai have the best selling car in the country

    Resale value favours Hyundai too, because of the 200,000km warranty

    The Germans ain't what they used to be

    Golf every day of the week ain't happening anymore


  • #35
    colm_mcm
    Registered Users, Registered Users 2 Posts: 73,296 ✭✭✭✭colm_mcm


    Hyundai are buying market share, through heavy discounting and supplying cars to the Gardai, neither of which help resale value. Like Ford we're doing 10 years ago.

    I'm not anti Hyundai or anything.


  • #36
    veetwin
    Registered Users, Registered Users 2 Posts: 2,002 ✭✭✭veetwin


    thierry14 wrote: »
    Hyundai have the best selling car in the country

    Resale value favours Hyundai too, because of the 200,000km warranty

    The Germans ain't what they used to be

    Golf every day of the week ain't happening anymore

    Yes they have but its not the i30.

    They can give a million km warranty on the i30 and people will still buy the Golf.

    No the Germans aren't what they used to be but come resale time I'll have a German every day.


  • Advertisement
  • #37
    Heres Johnny
    Closed Accounts Posts: 2,691 ✭✭✭Heres Johnny


    Reliability wise the Koreans and the Japanese are ahead of the Germans. Build quality and styling are still lagging behind though. I'd buy a golf no problem but wouldn't buy an i30.
    But that's just a personal choice. Hyundai are good cars my sister has a Tucson and it's not bad.


  • #38
    DaveyDave
    Registered Users, Registered Users 2 Posts: 6,429 ✭✭✭DaveyDave


    thierry14 wrote: »
    Hyundai have the best selling car in the country

    Resale value favours Hyundai too, because of the 200,000km warranty

    The Germans ain't what they used to be

    Golf every day of the week ain't happening anymore

    Crossovers are the new diesel, of course the Tucson is going to sell well. If you want to talk numbers the Golf sold 4,321 last year while the i30 sold 1,646. Overall units for the year and Hyundai are behind Volkswagen, Toyota and Ford.

    It's a grand car but that's premium hatchback money. I've only driven the 2nd gen i30 so I can't comment on the 3rd gen (other than the fact they made a balls of the design). I know the i30 is a simple and affordable hatch but it's closer to a Dacia than a Golf. Honestly. To be fair they're reliable and will get you from A to B but compared to a Golf they aren't comfortable, aren't fun to drive, the suspension is rough, there's no room in the back for your knees or your head, the rear visibility is crap, the plastic is cheap, the sound system is basic etc.

    If you're passing the €25k mark I'd be considering a Golf, Focus or Civic.


  • #39
    lawred2
    Registered Users, Registered Users 2 Posts: 24,772 ✭✭✭✭lawred2


    mickdw wrote: »
    Just be careful with assumptions of market value at 3 years old.
    They are basically selling these new at 22k when you consider scrappage or discount or whatever way you look at it.
    I would base my 3 year valuation off off that for a start. Take 50 percent of that. Worth 11k at end worst case.

    So if you rocked up with cash do you think they'd sell for 22k?


  • #40
    mickdw
    Registered Users, Registered Users 2 Posts: 23,800 ✭✭✭✭mickdw


    lawred2 wrote: »
    So if you rocked up with cash do you think they'd sell for 22k?

    Tbese deals are created to attempt to maintain pricing yet give strong discount. They wont want to just give the straight reduced cash price as that immediately knock values. That said, im sure the salesguy would have a few creative suggestions to get you into a car if you had the 22k and ready to buy, There are also zero percent finance or 5k scrappage offers which again would suggest that if you arrived with own cash that there would be a deal to be done,
    If these are 27k new with reducion to 22k available, how many people would pay 23 or 24k for a year old one? Not many id assume.


  • #41
    Heisenburg81
    Closed Accounts Posts: 322 ✭✭Heisenburg81


    DaveyDave wrote: »
    Crossovers are the new diesel, of course the Tucson is going to sell well. If you want to talk numbers the Golf sold 4,321 last year while the i30 sold 1,646. Overall units for the year and Hyundai are behind Volkswagen, Toyota and Ford.

    It's a grand car but that's premium hatchback money. I've only driven the 2nd gen i30 so I can't comment on the 3rd gen (other than the fact they made a balls of the design). I know the i30 is a simple and affordable hatch but it's closer to a Dacia than a Golf. Honestly. To be fair they're reliable and will get you from A to B but compared to a Golf they aren't comfortable, aren't fun to drive, the suspension is rough, there's no room in the back for your knees or your head, the rear visibility is crap, the plastic is cheap, the sound system is basic etc.

    If you're passing the €25k mark I'd be considering a Golf, Focus or Civic.

    So basically because Honda dont have the scrappage incentive the MV of a 3 year old civic smart plus will be in the €15k range as in effect higher "real" sales price?
    Have a €500 deposit down now though but car or finance not applied for until Monday.
    Might change my mind. Hope I can get the 500 back!


  • Advertisement
  • #42
    Heres Johnny
    Closed Accounts Posts: 2,691 ✭✭✭Heres Johnny


    Heisenburg81 wrote: »
    DaveyDave wrote: »
    Crossovers are the new diesel, of course the Tucson is going to sell well. If you want to talk numbers the Golf sold 4,321 last year while the i30 sold 1,646. Overall units for the year and Hyundai are behind Volkswagen, Toyota and Ford.

    It's a grand car but that's premium hatchback money. I've only driven the 2nd gen i30 so I can't comment on the 3rd gen (other than the fact they made a balls of the design). I know the i30 is a simple and affordable hatch but it's closer to a Dacia than a Golf. Honestly. To be fair they're reliable and will get you from A to B but compared to a Golf they aren't comfortable, aren't fun to drive, the suspension is rough, there's no room in the back for your knees or your head, the rear visibility is crap, the plastic is cheap, the sound system is basic etc.

    If you're passing the €25k mark I'd be considering a Golf, Focus or Civic.

    So basically because Honda dont have the scrappage incentive the MV of a 3 year old civic smart plus will be in the €15k range as in effect higher "real" sales price?
    Have a €500 deposit down now though but car or finance not applied for until Monday.
    Might change my mind. Hope I can get the 500 back!


    I wouldn't pull out OP based on what a few of us have said. You saw the Car, you liked it and you decided to go ahead. Not a thing wrong with the i30 and you are in effect getting it for 22k. 7 year warranty too which is excellent. It's just you won't have as much equity as you might have thought if you want to roll it over. But you can always buy it. Cars depreciate like a stone. Fact of life. Go ahead with your deal if you want I think it's pretty good.


  • #43
    fleet
    Registered Users, Registered Users 2 Posts: 542 ✭✭✭fleet


    If OP is keeping the car for the long term (10 years say), then resale value is less important, reliability is, and German cars just haven't kept up. Consumer sentiment always trails reality, and there are comfort, performance and prestige arguments, but I know which I'd go for.

    Sorry, need to register to read in full, but it's free
    http://www.telegraph.co.uk/motoring/news/9815860/German-cars-lose-out-in-reliability-survey.html


  • #44
    Casati
    Registered Users, Registered Users 2 Posts: 2,885 ✭✭✭Casati


    Heres Johnny wrote: »
    I wouldn't pull out OP based on what a few of us have said. You saw the Car, you liked it and you decided to go ahead. Not a thing wrong with the i30 and you are in effect getting it for 22k. 7 year warranty too which is excellent. It's just you won't have as much equity as you might have thought if you want to roll it over. But you can always buy it. Cars depreciate like a stone. Fact of life. Go ahead with your deal if you want I think it's pretty good.


    It’s the i30 Fastback the OP is buying which is larger than the i30 and has a different body style, plus it’s an all new model. The Civic 1.0 would be a good alternative but your trade in might be worth tiny money to a Honda dealer so cost to change a lot more.


  • #45
    Heisenburg81
    Closed Accounts Posts: 322 ✭✭Heisenburg81


    I think that fact has been lost.
    Completely new car on the Irish Market.
    Different suspension among other things.
    Looks nice but may not to some.
    Appreciate all the advice on here, both pros and cons. Big decision so important to weigh up all factors.
    If the MV at end was circa 13 or 14k I would be happy.


  • #46
    colm_mcm
    Registered Users, Registered Users 2 Posts: 73,296 ✭✭✭✭colm_mcm


    Yep it actually looks great in the flesh, had a look at one on Friday, pictures don’t do it justice. It is still an i30 though, albeit a nice one, but it will only be marginally more valueble than a standard model regular 1.0 hatchback version in 3 years. (In my opinion of course) We bought a top of the range i30 Premium years ago, the one with heated leather, big wheels, higher bhp engine etc and it wasn’t worth any more than a normal one. I know this is a different body style but it’s still basically an i30 at the end of the day.

    I’m not a fan of the new Civic but I can pretty much guarantee you it will be worth more than the i30. They said it won’t be retain the extra amount you’ll buy it for over the i30.

    The safest bet in this class for residuals is the Golf. The i30 is a huge risk, the Civic less so.

    Don’t confuse asking prices of 3 year old used cars with what you’ll get as a trade in.


  • #47
    Heisenburg81
    Closed Accounts Posts: 322 ✭✭Heisenburg81


    colm_mcm wrote: »
    Yep it actually looks great in the flesh, had a look at one on Friday, pictures don’t do it justice. It is still an i30 though, albeit a nice one, but it will only be marginally more valueble than a standard model regular 1.0 hatchback version in 3 years. (In my opinion of course) We bought a top of the range i30 Premium years ago, the one with heated leather, big wheels, higher bhp engine etc and it wasn’t worth any more than a normal one. I know this is a different body style but it’s still basically an i30 at the end of the day.

    I’m not a fan of the new Civic but I can pretty much guarantee you it will be worth more than the i30. They said it won’t be retain the extra amount you’ll buy it for over the i30.

    The safest bet in this class for residuals is the Golf. The i30 is a huge risk, the Civic less so.

    Don’t confuse asking prices of 3 year old used cars with what you’ll get as a trade in.

    Typically what would the mark up % for resale be for retailers on 3 year old cars in the honda/focus class?
    Saw a 161 civic for sale @ €19,750 in dealership yesterday.


  • #48
    colm_mcm
    Registered Users, Registered Users 2 Posts: 73,296 ✭✭✭✭colm_mcm


    When I was selling stuff like that in main dealer, the car fully prepped would be costing roughly €2k - 2,5k less than the (researched beforehand!) asking price. For an outside brand it would be less again because we wouldn’t ge as much for say a Ford as a Ford dealer would. Then you’re minus a house charge (€200ish) and prep which could be €600ish on a 3 year old car. So roughly €3k - 3.5k
    Now obviously whatever you’d be buying would have a discount amount that you could use to bump up the price of the trade in on paper.

    Same as nobody will pay the asking on the used car once it goes up for sale - you’d usually have to drop the price by €700-€1000 Or again use the discount to bump up the trade in


  • #49
    Heisenburg81
    Closed Accounts Posts: 322 ✭✭Heisenburg81


    colm_mcm wrote: »
    When I was selling stuff like that in main dealer, the car fully prepped would be costing roughly €2k - 2,5k less than the (researched beforehand!) asking price. For an outside brand it would be less again because we wouldn’t ge as much for say a Ford as a Ford dealer would. Then you’re minus a house charge (€200ish) and prep which could be €600ish on a 3 year old car. So roughly €3k - 3.5k
    Now obviously whatever you’d be buying would have a discount amount that you could use to bump up the price of the trade in on paper.

    Same as nobody will pay the asking on the used car once it goes up for sale - you’d usually have to drop the price by €700-€1000 Or again use the discount to bump up the trade in

    Thanks.
    Golf just doesnt do it for me aesthetically. I think it looks plain. Maybe Im a weirdo.
    Have 2 young kids and want reliability as opposed to fun/performance.
    Partner has a focus which is a great car but not for me either.
    So what value would you say as a guesstimate the fastback will carry at 3 years to a non hyundai dealer assuming 75k or so km and seeking trade in against same class?


  • #50
    mickdw
    Registered Users, Registered Users 2 Posts: 23,800 ✭✭✭✭mickdw


    Heisenburg81 wrote: »
    Thanks.
    Golf just doesnt do it for me aesthetically. I think it looks plain. Maybe Im a weirdo.
    Have 2 young kids and want reliability as opposed to fun/performance.
    Partner has a focus which is a great car but not for me either.
    So what value would you say as a guesstimate the fastback will carry at 3 years to a non hyundai dealer assuming 75k or so km and seeking trade in against same class?

    Buy the car you want. It is a good deal at 22k just be aware that you might not have huge equity at end.


Advertisement