Megane 225 Turbo
Hi guys,
I'm pondering my options at the moment, I had my first Clio on Renault Finance and paid £148 a month for 2 and half years, I then traded it in last December for another new Clio Dynamique SX Turbo. Nearly a year on I'm a bit bored and to be honest regret slapping myself with a montly price increase of £90. I now pay £238 per month for the new Clio and to be honest, it's nice but it doesn't seem worth it to me.
I've recently seen many ads in the paper from Vauxhall dealers and such like where they in one instance offer a Vectra 1.9 CDTi SRi with a Dealer Deposit of £3000, free servicing for 3 years and some nice added extras on the vehicle. I know they are introducing the Insignia which is why they are getting rid of Vectra's but I quite like them. I also fancy a change from Renault. The fact my Clio costs OTR £11150 and has no air-con, no leather/half leather or any real refinements annoys me now but didn't at the time. Alright, it's got better alloys and a body kit ontop of the standard Clio and looks externally very nice, but after looking at the Vectra on the forecourt yesterday with the nice alloys and then moving onto the nice interior I'm sort of persuaded to take it further.
Question is, how does Dealer to Dealer finance work. I've spoken to a few work mates and the basics are apparently the new Dealer will pay your old Dealer off and take on the finance themselves, but surely that leaves me massively out of pocket as I then owe Vauxhall for the Clio AND the Vectra. Surely that can't be right? However my car is worth more than the Vectra so surely it can't work any other way as otherwise they'll end up owing me money? I understand none of these options are probably great, and chances are I'll keep the Clio and get out of the finance in a couple of years, my partner qualifies as a Nurse and has a guaranteed job in January so an extra 20k income per annum is my lifeline. The only option I can think as to how they'd work is to give my car a trade in value, offset that against the settlement figure of the Clio and then either add the shortfall onto a new agreement on the Vectra or if the Clio ends up having a small amount of money in it taking it off the Vectra and so on?
Also, what makes me think there is always "A Deal to be Done" is that the day I picked mine up from Renault, they had a delivery of a 197 and I stood and watched them offload it. I also had a quick peek inside and sat in it. The guy that sold me mine said "So, I'll see you back in a few months when you've had enough for one of these then?". At the time I just laughed, but why would he say that as I'd just signed a 3yr deal. I think these 3yr deals aren't worth the paper they are written on and you can probably do quite a lot regarding movement with the Dealers. Also, with the economic climate the way it is, perhaps they are going to be more eager to get rid of cars and I might be able to strike a better deal?
Your thoughts and opinions are appreciated.
I'm pondering my options at the moment, I had my first Clio on Renault Finance and paid £148 a month for 2 and half years, I then traded it in last December for another new Clio Dynamique SX Turbo. Nearly a year on I'm a bit bored and to be honest regret slapping myself with a montly price increase of £90. I now pay £238 per month for the new Clio and to be honest, it's nice but it doesn't seem worth it to me.
I've recently seen many ads in the paper from Vauxhall dealers and such like where they in one instance offer a Vectra 1.9 CDTi SRi with a Dealer Deposit of £3000, free servicing for 3 years and some nice added extras on the vehicle. I know they are introducing the Insignia which is why they are getting rid of Vectra's but I quite like them. I also fancy a change from Renault. The fact my Clio costs OTR £11150 and has no air-con, no leather/half leather or any real refinements annoys me now but didn't at the time. Alright, it's got better alloys and a body kit ontop of the standard Clio and looks externally very nice, but after looking at the Vectra on the forecourt yesterday with the nice alloys and then moving onto the nice interior I'm sort of persuaded to take it further.
Question is, how does Dealer to Dealer finance work. I've spoken to a few work mates and the basics are apparently the new Dealer will pay your old Dealer off and take on the finance themselves, but surely that leaves me massively out of pocket as I then owe Vauxhall for the Clio AND the Vectra. Surely that can't be right? However my car is worth more than the Vectra so surely it can't work any other way as otherwise they'll end up owing me money? I understand none of these options are probably great, and chances are I'll keep the Clio and get out of the finance in a couple of years, my partner qualifies as a Nurse and has a guaranteed job in January so an extra 20k income per annum is my lifeline. The only option I can think as to how they'd work is to give my car a trade in value, offset that against the settlement figure of the Clio and then either add the shortfall onto a new agreement on the Vectra or if the Clio ends up having a small amount of money in it taking it off the Vectra and so on?
Also, what makes me think there is always "A Deal to be Done" is that the day I picked mine up from Renault, they had a delivery of a 197 and I stood and watched them offload it. I also had a quick peek inside and sat in it. The guy that sold me mine said "So, I'll see you back in a few months when you've had enough for one of these then?". At the time I just laughed, but why would he say that as I'd just signed a 3yr deal. I think these 3yr deals aren't worth the paper they are written on and you can probably do quite a lot regarding movement with the Dealers. Also, with the economic climate the way it is, perhaps they are going to be more eager to get rid of cars and I might be able to strike a better deal?
Your thoughts and opinions are appreciated.
