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Price paid for your i30 N?
- Thread starter JB1891
- Start date
Trade in value is so high to be honest. I’m happy with my car, and genuinely quite sad to trade it in. But I’ve done 54k miles, so I should probably grab a good price while I can!
Hi all,
Me again...just configured an i30N new and then balloon payment is 12k! What’s the plan with this ...do people actually have the cash to pay this on the future l, is it a personal loans job, or par for the course and get shut.
my other option is to buy nearly new say 31k instead of 36k and have a smaller balloon but the APR is higher so overall seems like I’m paying the same but for an older pre-REG car.
can someone make sense of this please.
Regards,
J
Me again...just configured an i30N new and then balloon payment is 12k! What’s the plan with this ...do people actually have the cash to pay this on the future l, is it a personal loans job, or par for the course and get shut.
my other option is to buy nearly new say 31k instead of 36k and have a smaller balloon but the APR is higher so overall seems like I’m paying the same but for an older pre-REG car.
can someone make sense of this please.
Regards,
J
@Jjhiggy If you don’t want a balloon payment, get HP? Of course the monthly payments will be higher.
For mine I paid at the end, but people take out additional finance to clear the payment or hand back. Depends on your personal circumstances, or if you want to keep the car etc.
For mine I paid at the end, but people take out additional finance to clear the payment or hand back. Depends on your personal circumstances, or if you want to keep the car etc.
At the end of your term you effectively have 2 options.
1. Hand it back and walk away. You don't have to pay that 12k, but you've paid 20K plus interest for nothing, might as well have leased.
2. Buy it for £12k
How you buy it is completely up to you. The dealers will most likely offer you a new finance plan, or you find your own personal loan or savings, creditcard etc OR you part exchange it; Anything under £12k px value you will need to pay off yourself, anything over £12k goes to deposit of new car.
Thanks all!
If you don’t mind me asking what do you guys do when you look at buying a car? Do you ignore it and cross the bridge when you get there, do you always envision the price going up so enter into a new finance deal or do you only buy cars you love and see your self buying.
I watch reviews and videos all the time and it seems people just dip flop between cars these days and never owe anything out of warranty for too long. Is this true or just an on lookers perspective?
If you don’t mind me asking what do you guys do when you look at buying a car? Do you ignore it and cross the bridge when you get there, do you always envision the price going up so enter into a new finance deal or do you only buy cars you love and see your self buying.
I watch reviews and videos all the time and it seems people just dip flop between cars these days and never owe anything out of warranty for too long. Is this true or just an on lookers perspective?
That's not the only 2 options, really - chances are by the end of the PCP, the car will have some positive equity attached to it, so just walking away and leaving that money on the table is bonkers.
Either sell the car to another dealer or car buying service, let them settle the outstanding finance and have some cash in your pocket, or use it as part-ex on another car. No need to just walk away or cough up £12k.
If you give it back you get the positive equity? That balloon payment is just the minimum amount that they will give you, and that will settle the finance, any more than that they give you back.
Making sense now.
I’m happy forgetting about the payment of I know the likelihood is I will be in profit.
I’m thinking about getting an ex demo, is this likely to be the same? My thought process was that it’s already reduced and they have taken the initial hit.
I’m happy forgetting about the payment of I know the likelihood is I will be in profit.
I’m thinking about getting an ex demo, is this likely to be the same? My thought process was that it’s already reduced and they have taken the initial hit.
I said walking away is the worst thing you can do. Unless it's massively in negative equity. The other option is buying it. If you sell it to another dealer and they settle the finance, that's the same as buying it in the finance companies eyes. As is using it for part-ex.
If you hand the car back, you do not get the positive equity back in your bank account...
Not sure you will get the manufacturers PCP on ex demo / used car. Try and negotiate a good discount on a new car.
Hi all,
Thanks for all your advice, so far I have managed to wittle it down to the following. Wouldnt mind your finala input before next week when I plan to do some test driving and bartering.
1. Used (2019) 20k on the clock - £24500
2. Ex-demo (2021) 5k on the clock - £31,500 (this extremely overpriced so hoping for 29k)
3. New (2021) - £36,000 (plan to try and spec the manual and get upgraded to the DCT for free?)
I might be dreaming here but reading this forum theres not much room for freebies or discounts at the moment, and Im not accepting free mats and a full tank of petrol as a win.
Thanks for all your advice, so far I have managed to wittle it down to the following. Wouldnt mind your finala input before next week when I plan to do some test driving and bartering.
1. Used (2019) 20k on the clock - £24500
2. Ex-demo (2021) 5k on the clock - £31,500 (this extremely overpriced so hoping for 29k)
3. New (2021) - £36,000 (plan to try and spec the manual and get upgraded to the DCT for free?)
I might be dreaming here but reading this forum theres not much room for freebies or discounts at the moment, and Im not accepting free mats and a full tank of petrol as a win.
I think that’s might be too much for PCP, but not for HP. Double check with the dealer though
Get on CarWow or Coast2Coast for better prices.
The new one will be lower APR so should be cheaper on the monthlies even though it's more. Average APR for used cars is about 9.9%, sometimes less or more. I think Hyundai's APR on New is 4.2% or something.
I'm selling my '70 plate white i30N Performance to motorway.co.uk for £27.1k and it's done 8k miles. I only paid £24.5k for it 