Too good to turn down?

PapaLazaru

PapaLazaru

PapaLazaru

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So the good lady has resigned from her employer and as part of their perks, she got two cars under their staff scheme. I'll let you guess who it is but they are a manufacturer. Basically you pay them X amount per brand new car, taken straight off from the net pay, keep them for a year or 12,000 miles, then swap them for something else. Rise and repeat.

They have offered prices to walk away with the cars and as we are now likely to only need one car, we are considering taking up the offer on one of the cars, which is the one I use.

The offer is £15.5k. I have had use of this for 2 months from brand new and it only has 1000 miles on the clock. Still keep the standard warranty etc. Can also sign up for their 5 year servicing plan for £695 as well (would do this) as we would likely keep it for that length of time.

This is the exact same car but with 3000 miles on the clock - http://usedcars.honda.co.uk/Civic/1...19114-605813169-2995687.aspx?srcmdc=se_na_re_

It is a bit more than we can realistically afford but I am thinking this is something that cannot really be turned down at the price?

Or am I missing something?
 
My advice would be speak to a dealer and see what they would offer you for the car. Then if it's more buy it and trade it if you can't afford it.
 
Housey said:
My advice would be speak to a dealer and see what they would offer you for the car. Then if it's more buy it and trade it if you can't afford it.
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This. Worst case you can sell it.

There are ways around the finance things etc. You just have to prioritise.
 
Well the likelihood is that in a couple of months we can afford it, just not right at this time. Just trying to hedge my bets that in three months time, if we decide we cannot keep it we can get our money back.

I mean £6.5k off is a good deal?
 
PapaLazaru said:
Well the likelihood is that in a couple of months we can afford it, just not right at this time. Just trying to hedge my bets that in three months time, if we decide we cannot keep it we can get our money back.

I mean £6.5k off is a good deal?
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It's £6.5k off a ridiculous fantasy price though, not £6.5k off it's real value.

You can factory order a brand new one for just over £17k after discounts through a Broker?
 
Is the £695 for 5 years servicing (transferable?) preferential for you, as part of this deal ?
sounds as though that makes the deal sweeter even if price is only near trade.
 
Will she be due any pro-rata rebate for unused months/mileage if she doesn't take up the offer, i.e. a proportion of X, or is that money sunk now? Just thinking as you are only 2 months / 1000 miles in that potentially that could be a not insignificant sum. Or is it taken monthly rather than all up front?
 
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HangTime said:
Will she be due any pro-rata rebate for unused months/mileage if she doesn't take up the offer, i.e. a proportion of X, or is that money sunk now? Just thinking as you are only 2 months / 1000 miles in that potentially that could be a not insignificant sum. Or is it taken monthly rather than all up front?
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The car costs peanuts, ie less than £180 p/m and includes insurance and everything. We just put fuel in. No upfront charge, just the monthly cost.

I think the deal is based on current mileage. We have had it from new and it still will come with all the normal 'from new' perks so whilst it might not be an amazing deal, we are getting to keep a car we have only paid £360 in total for from new and get to keep it for considerably less than the new dealer price.
 
I don't think it's a good deal - you can pick them up in the same nick/mileage for the same money as they have offered it you for.
 
I think if it is a car that you genuinely want and would be looking to buy anyway then it is a reasonable deal. Looking online you can buy these from a main dealer with 2k on the clock for under £16k. Personally I'd stick with the car you already know as it is cheaper and less hassle switching over. Or alternatively brand new from a broker for a bit more (can also get the 5 year servicing plan for £555 that way, cheaper than you have been quoted).

So the real question is whether this is definitely a car you want to keep driving and as it is 'realistically' more than you can afford does this imply you should be shopping lower down in the market. It's not cheap enough that you can flip it and make a profit worth speaking about, so affordability is important.
 
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