Buying a new 2014 Qashqai

[n_s_simpson]

Well I'm totally confused...I went to WestWay Nissan in Stockport to buy the Qashqai 2014 Tekna 4WD in ink blue. They originally wanted to charge me £420 a month on a 3yr PCP with an initial payment of £4k and a residual of £13k. This included a £1000 dealer contribution!I know someone that works there so they came down to £359 a month with a residual of £12k through a friends and family deal. I then said I could get much cheaper online at around £275 with a residual of £12.5k. They came down further to £303 with a residual of £12k.They were now competing so I said I'd actually make an initial payment of £5.6k, which they worked out as changing the monthly charge to £248. They then reduced this further to £240 if I took the car they had in stock so it went towards their January figures rather than wait til the March number plates come out.That seemed like a good deal until I went away and checked back online and saw that I can get a March number plate on exactly the same car for £203 on the same 3yr PCP term, same mileage, with the same initial payment of £5.6k and same £12k residual value.So is that online price too good to be true or is Westway Nissan just charging me too much?HELP!!!ThanksNick
n_s_simpson2014-01-27 20:43:36

[MANI]

I guess it depends on the APR rates and the sticker price of the car

[n_s_simpson]

HiWell it appears that the sticker price and/or APR offered by Westway Nissan are far higher than the online PCP firm I've found.It's a shame that I can't support my local branch but given they're direct their pricing is terrible in comparison.I wouldn't mind but the online firm is really just a broker working on behalf of another Nissan garage (obviously they haven't said who) who's willing to honour this far better price.All it means is I'll have to wait til April to get the car. Not a real problem because we have a 2nd car (an old fiesta) that hardly gets used.

[kramrolyat70]

I can't comment directly on the PCP as I've done private leasing on my vehicles for the last 8 years now and I'm about to do the same on my very first Qashqai.I lease because I like to just had it back after X years and get something new without having to worry about final term values and to be honest the upfront costs to-date have always been significantly smaller and easier to find....also by my own maths, not always brilliant, it doesn't work out any more expensive to lease, sometimes cheaper.Obviously the only negative, or positive depending on your view point, is you don't own the car at the end...although you are often offered the chance to purchase.Anyway...for example....my current deal.Qashqai 2WD Tekna, solid paint10,000 miles per year£1,500.00 upfront payment£250.00 per month for a 36 month contract.More than happy with that personally. Very low amount to find upfront and shinny new car due soon...I hope.

[Dug]

Hi kramrolyat70 that sounds a good dealwhere is that from?
I am thinking of this pcp route but don't know much about it can anyone explain how it all works ??when you hand car back at end is that it? how do you start again ?? where does you next deposit come from?/ thanks

[kramrolyat70]

Hi dug,I'm leasing my car through www.gateway2lease.com Hope it's ok to post URL's sorry if it's not.I've looked in to PCP a few times but only on Mercedes but I THINK they all work in basically the same way. I'll give you my last example.Mercedes C180 ManualDeposit £349.00 (That was an amazing deal deposits are usually a few £1000)10,000 miles a year allowance (This is so they can give you a final price)48 month PCP contract at £379 a monthFinal car value £9000So...you give them the deposit (You never get that back)You pay them £379 a month.You tax the car yourself, you HAVE to service it at a main dealer. you insure it yourself and you are responsible for all tyres, repairs etc.After 4 years, in the above case, if the car is in good condition and has 40,000 miles on the clock or less they confirm the final value.The final value can be as agreed, more or if more mileage on the car or in bad condition less.At this point you either give them a "balloon" payment of the Final agreed price and the car is yours. If you do this they rarely adjust the original value agreed at the start of the contract.You can give the car back, say thank you and walk away. (If the car is in poor condition you may have to cover the costs of repair. If over the agreed mileage you usually have to pay pence price per every mile over. At the moment that's usually around 8pence per mile).You can also chose to take out another PCP contract using any extra value of the first car against the second. I.e. in the above example if after 4 years the car was worth £12,000 instead of £9,000 you can use the extra £3000 as part of your "deposit" for the next car.Typically the car dealers like you to carry on in new contracts. So, they tend to under value the final worth of the car to tempt you in to a new contract. So, if they say it will be worth £9,000 in 4 years time it's typically worth £10,500 or a little more.That way you are tempted to hand it in, they sell it for more than it's on their accounts for and you take a new car.Another reason they over value it is the finance side of things. If after 4 years the car is in good condition, has the right mileage but the market has changed and it's not worth the £9,000 they thought, that's their issue. They have to write off the difference and it doesn't cost you anything. So, they tend to under value it to avoid that.Does that help?

[Dug]

Hi kramrolyat70 thanks for that that makes things clear.two things though, what happens if something changes in your life? are you tied to the full term or can you request a final settlement throughout the term?also if after the 4 years is up can you trade at another dealers or different make of car? and they settle any differences and you use the balance and start somewhere else.what does 6+24 mean?does that mean 6 month deposit and 24 months payments? again thanks for the info very tempted to get my new QQ this way, I like the sound of a new car every 3 years

Dug2014-02-07 20:52:21

[kramrolyat70]

Answering on my phone so apologies for rapid reply.

You could go to a different dealer yes but not a different manufacturer. Legally you have rights for terminating a contract early but it depends on the point in the contract you are at and what you are doing.

For example they have no issue you surrendering early if it's a pcp deal and you are taking another car out with them. Straight leasing is different.

6 + 24 us 6 months deposit 24 monthly payments of £xxx

[Durrrobotdave]

£190 a month nothing up front 12 month lease a work there though

[Durrrobotdave]

[quote="Durrrobotdave"] £190 a month nothing up front 12 month lease a work there though
[/QUOTE] insurance included as we'll not bad eh innovation that excites !!