[harryyyyyy]

Maybe slightly off topic, apologies in advance.

I am due to collect my G20 next week, I'm trading in my current car which is on a PCP and rolling it into the new deal:

Just did a quick valuation check on my old car and it appears the value has increased even further than when I made the deal in July. Along with the settlement figure being less at this point what does that mean for me?

Do I get the excess "cash"? Or is what I've agreed the way it stays?

Cheers

Harry

[xenon]

I'd say you've agreed a deal and that's the deal. If the situation was reversed and the dealer suddenly told you he wouldn't honour the agreement and asked you to pay more because of some or other situation you'd be rightly pissed off.

Surely you took the settlement figure into account anyway?

[harryyyyyy]

Originally Posted by xenon

I'd say you've agreed a deal and that's the deal. If the situation was reversed and the dealer suddenly told you he wouldn't honour the agreement and asked you to pay more because of some or other situation you'd be rightly pissed off.

Surely you took the settlement figure into account anyway?

Yeah to be honest I agree with what you are saying it works both ways doesn't it, just wanted to make sure if anyone had had a similar situation.

[xenon]

That's not to say you can't ask, of course...

[P-ToK72]

Originally Posted by harryyyyyy

Maybe slightly off topic, apologies in advance.

I am due to collect my G20 next week, I'm trading in my current car which is on a PCP and rolling it into the new deal:

Just did a quick valuation check on my old car and it appears the value has increased even further than when I made the deal in July. Along with the settlement figure being less at this point what does that mean for me?

Do I get the excess "cash"? Or is what I've agreed the way it stays?

Cheers

Harry

I would say it's worth asking the question but don't go in with too high expectations.

With my order going backwards I asked about changes to value of trade-in, PCP interest rates and price changes in 2021 and I was told they would honour the deal that had been agreed (as long as it is collected within a certain number of days from arrival at the dealership).
I will be asking the question about current 2nd hand price and reduced settlement figure myself but not expecting things to change.

Enjoy collection of the new car though Harry...

[MD707]

I'd say deal has been agreed...as said it cuts both ways, so...

[jdc0907]

I would've thought the part ex price is agreed at the time of placing the order. Although the finance settlement would be less at the time of collection so surely that comes into play as you have been paying that whilst waiting for the car to arrive, not the dealer. I'm in the same position as you new car due to arrive in December so will be interested in what happens

Potentially you could also sell your current car privately or to another dealer and they would settle the finance? The cash freed up could then be used as an extra deposit on your new PCP? I'm sure they'd be happy not to have to deal with the hassle of auctioning off your old car and would be prefer the cash? I have a mk7.5 Golf GTI Performance in pristine condition and I know a VW main dealer would pay more part exchange than BMW as they want it on their forecourt. As long as the price of the vehicle remains the same does it matter how the deposit funds are raised?

[d 246]

I'm in a similar position. The value of my existing car was guaranteed at the time "as a minimum", however I'm not holding out for them offering me any more... I'll still ask though.

I don't think they have any intention of auctioning it off. They're just desperate for good condition, low mileage second hand cars for the dealership.

[harryyyyyy]

Thanks for all the replies, I suppose normally there decrease in the settlement figure would match quite evenly with the car depreciation in a normal time with the equity remaining the similar, just slightly different in this case with both figures going the opposite way if you like.

I'll ask the question, just for completeness if nothing else 👍

[harryyyyyy]

Originally Posted by jdc0907

I would've thought the part ex price is agreed at the time of placing the order. Although the finance settlement would be less at the time of collection so surely that comes into play as you have been paying that whilst waiting for the car to arrive, not the dealer. I'm in the same position as you new car due to arrive in December so will be interested in what happens

Potentially you could also sell your current car privately or to another dealer and they would settle the finance? The cash freed up could then be used as an extra deposit on your new PCP? I'm sure they'd be happy not to have to deal with the hassle of auctioning off your old car and would be prefer the cash? I have a mk7.5 Golf GTI Performance in pristine condition and I know a VW main dealer would pay more part exchange than BMW as they want it on their forecourt. As long as the price of the vehicle remains the same does it matter how the deposit funds are raised?

You make a very good point on this one, potentially could be useful for both parties as my current car isn't a model within their dealer group.

Having said that I suppose at the agreed trade in price there's an extra few grand in my car for them in the current market.

A very odd market for sure!

Just can't wait to pick the thing up now 🤓

[4monks]

You absolutely can and should renegotiate your trade-in if you can show its value has gone up.

[Beemer5to3]

Definitely ask the dealer for more! If not then just sell to WBAC - they're paying top money for cars.

[harryyyyyy]

Cheers chaps! Looks to have gone up at least 3,500, and that's just from WBAC, all in a matter of months and that's with 4K extra miles driven in it.

I'll let you know what kind of response I get!

[RAFats]

I made a deal in April trading in my x40i for my now new M440i. Two weeks before delivery towards end of June I asked them to review the trade in agreed minimum value. They came back the next day with a revaluation to my benefit of just over £4K. This was put to reducing my contribution to the agreed deposit, effectively providing me with a huge benefit to my savings. They then sold my old car within 48 hours and everyone was happy. You must push for this. Good luck.

[Bc2005]

You might try listing your car with KBB and/or Vroom to check the current value. If it’s higher than the current dealer offer you might be able to negotiate for a better deal, or maybe they will remove your old car from the deal and you can sell it separately .

There is no initial commitment with KBB or Vroom, and you get the price offers back almost immediately.

[MD707]

Originally Posted by harryyyyyy

Cheers chaps! Looks to have gone up at least 3,500, and that's just from WBAC, all in a matter of months and that's with 4K extra miles driven in it.

I'll let you know what kind of response I get!

Ok, that’s not £500. That’s a lot. I’d say renegotiate!

[harryyyyyy]

Originally Posted by RAFats

I made a deal in April trading in my x40i for my now new M440i. Two weeks before delivery towards end of June I asked them to review the trade in agreed minimum value. They came back the next day with a revaluation to my benefit of just over £4K. This was put to reducing my contribution to the agreed deposit, effectively providing me with a huge benefit to my savings. They then sold my old car within 48 hours and everyone was happy. You must push for this. Good luck.

That's a fair old chunk of extra cash, thank you for letting me know! Most importantly hope you are enjoying the new car a few months in!

[harryyyyyy]

Originally Posted by G21-M340i

Ok, that’s not £500. That’s a lot. I’d say renegotiate!

Seems mad it's gone up that much in a fair few months with about 3,000 extra miles on the thing!

[HeebieJeebies]

Think this is leading me to upgrade barely 4 months into a newer car ownership, might even bring a 40d into my budget quicker

[Trevski220]

I sold my last car with Motorway a few days before collection of my new one, having warned the dealer that if I was offered a better price on my car I'd take it.

I'd recommend Motorway as a company

[RAFats]

Originally Posted by harryyyyyy

That's a fair old chunk of extra cash, thank you for letting me know! Most importantly hope you are enjoying the new car a few months in!

It is outstanding; thank you for asking. And,,,, the mpg is amazing compared to my X3 M40i.