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Price paid for your i30 N?
- Thread starter JB1891
- Start date
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It's mad that 2 years ago £23k would have got you a kitted out i30N, now that's a good price on an i20N!
I remember a couple of years ago I was close to buying a Fastback N in PB with about 9k miles on the clock for £20k! Right now there are 3 I30N on autotrader under £20k and they are all Cat S!! Looking at about £25k for a similar car now, it's bonkers
So what’s the plan with these prices? I have been looking at buying one but paying 5k over asking leaves a bitter taste in my mouth.
My partner told me to just do it as higher prices means I’m getting a higher price for my trade in so negates it.
Would love everyone’s thoughts...
My partner told me to just do it as higher prices means I’m getting a higher price for my trade in so negates it.
Would love everyone’s thoughts...
Funny you say that, I checked finance for a used and new and the new was practically the same!
I’m just so old school the thought of PCP and never owning something worries me. Feel like I’ll be on a rolling contract for the rest of my life. Again would love advice from someone who’s been there!
If you're putting a decent deposit down (or part-exchanging with current values!) it's near impossible to NOT be decently in positive equity by time your 3/4 years are up.
PCP gets a bad rap from 20-something estate agents and salesmen putting the bare minimum down on a swanky new BMW or Audi to impress his mates, then being surprised when he is granted with a completely unrealistic final payment at the end of the term.
The final payment on my I20N will be less than £8k - that's easy to refinance on a small loan if I do decide to keep it, but I don't think it's unrealistic to say the car will still be worth anywhere between £12k and £15k by then, so a nice bit of trade-in value!
PCP gets a bad rap from 20-something estate agents and salesmen putting the bare minimum down on a swanky new BMW or Audi to impress his mates, then being surprised when he is granted with a completely unrealistic final payment at the end of the term.
The final payment on my I20N will be less than £8k - that's easy to refinance on a small loan if I do decide to keep it, but I don't think it's unrealistic to say the car will still be worth anywhere between £12k and £15k by then, so a nice bit of trade-in value!
Thank you so much for all this fantastic advice! I know I have taken this slightly off topic so I really appreciate it.
I have a few more questions if you don’t mind me asking but can always DM if needs be.
my plan is to put the value of my current car in so my deposit will be around 15-17k if needs be. This makes the final payment of about 11k at the end which is reasonable I guess. Is this too much to put in?
secondly, when you say positive equity and 12-15k trade-in, do you mean with the dealer you got the car from as trade in for another PCP as I thought they would just use the balloon payment as the deposit. I didn’t think they would give you more than the cars agreed value.
You will have to tell me the garage I’ll take yours when it goes in as part ex hahah! Least I know it’s been looked after.
what are you thinking of getting if you don’t mind me asking and what are the payments looking like?
cheers everyone best forum I’ve been on in a long while!
It’ll be Worcester I’m still not 100% in letting her go
. I’m getting a new i30N DCT. Deposit is £17k, payments are £450 ish a month on HP but I’m feeling flush and I’ll clear the finance straight away (I got £1000 off for taking finance).
When I bought my current N, I only put down £3k I think, 37 months PCP @£426 a month (15k miles a year), balloon payment was £12k
The balloon payment is just the difference between the full invoice price, minus the deposit and Xamount of monthly payments. They call it "guaranteed minimum future value/GMFV" in the paperwork, but it's not actually indicative of what the car is worth at the end of the PCP agreement. The difference between that balloon payment and the actual value of the car is the equity that rolls over into the next PCP deal (or is money in your pocket if you decide to sell it to someone like WBAC) - and like I say, you really have to have fallen for some trap to be in a position of negative equity by time a normal 36/48 month contract comes to an end!
It’ll be Worcester I’m still not 100% in letting her go
I’m getting a new i30N DCT. Deposit is £17k, payments are £450 ish a month on HP but I’m feeling flush and I’ll clear the finance straight away (I got £1000 off for taking finance).
When I bought my current N, I only put down £3k I think, 37 months PCP @£426 a month (15k miles a year), balloon payment was £12k
Great choice the DCT looks great! Fun driving but hassle free too -what’s the wait time on one of those? And what colour did you go for
Perfect! Thank you. All makes sense now, I also don’t do a lot of miles so should be unreasonable condition at the end. I think I was just worried that if I bought now with the prices being through the roof, the price would crash in 3/4 years and I’d have lost. Like the idea of the WBAC sale to cover the final payment clever! Probably why I see so many on Carzoo.
Great choice the DCT looks great! Fun driving but hassle free too -what’s the wait time on one of those? And what colour did you go for
Shadow grey. Ordered in August and could have collected straight away but we’re waiting for an i20N to be delivered too. So held off. Hopefully it’ll be next month if the i20N shows up.