Clio 200 deal advice please

[Mike Roberts]

It really does depend on how you approach the car.

Renault have no problem with me tracking the car, so long as it is insured fully comp on track, which it is... I have no intention to do any mods that would affect a warranty claim to a major component, it simply doesn't need it.

I don't love the car, it is simply a tool for a job, so I want it as cheap as possible and I don't want it in 2 years time. I'll glady give them the keys and walk away, or trade it for a new one if it is any good.

You might "own" your car, but you're paying a lot more money for that privilege. Is it really worth it? That's down to you.

 

[PB.200]

The dealer I bought mine from said hardly anyone hands em back anyway, they all get traded or sold private!

 

[PB.200]

To be fair though having to hand it back is no bad thing, if it's worth £8k but you hand it back with a gfv of 9500 you have effectively sold it for 1500 more than it's worth!

Just don't hand it back if you can sell or trade it for more than the gfv!

 

[Paul]

^^^ Sensible advise and I think it is the reason a lot of people traded their 197's in for the 200 over the past year. I was certainly tempted. The PCP deal was heavily discounted and as a result very good. What will happen in 2 years time is open to speculation, but with the GFV if you can sell privately for more - you win, if your car is worth less hand it back and - you win.

 

[dmc_74]

After test driving a 197 and a 200, I've decided I'm going for the 200.

FF, GW, Speedlines and Recaros.

Is this a good deal?

1k down
£270 a month
GFV - £9350

Anything to look out for? I've never bought a new car before so not really sure what I should be looking out for here so any help/advice appreciated.

8)
Any advice would be ace.

In response to Adam's original email, I think the great swathes and divided opinion here have simply sought to highlight that you should shop around and just get the deal which is right for you. Best of luck and you certainly won't be disappointed with any 200 :thumbup:

 

[Richy200]

You can hand the car back anytime.

The apr on my pcp is 2.45% or similar much less than a loan!

can't answer the v5 question yet lol

 

[Deako]

I have the V5 in my posession on PCP. You can get lower than 4.5% with certain deals. Yes, you can hand a car back at any time as already stated.

 

[Mike Roberts]

I have the V5 in my name. I can walk away from the car any time. I can do anything I want with the car, it is for all intents and purposes mine.

Technically I could weld a cage in it and put it on TBs... it would only be a problem should I default and have it repossessed. Come the end of 2 years, who is to say giving it back is the best deal anyway?

I can sell it privately, all you need to do is have the buyer clear the balance when transferring ownership (I did this when buying my Golf for the previous owner)

I can trade it in anywhere, they will clear the balance.

I can get a bridging loan, pay off the balance and do what I want if you don't fancy doing the above two.

There's nothing in the contract says you HAVE to give it back to the dealer, so long as you clear the balance, they couldn't give a rat's ass.

 

[Roy]

so if you give the car back after 3-4 months
you dont have to pay any depreation costs???
cus they lose a grand soon as they leave the forecort
sorry for askin

 

[Mike Roberts]

You'd lose your deposit and whatever payments you've made with a penalty of 1 extra month iirc.

The dealer won't tell you this, as it hurts them in the pocket, but you're legally allowed to do it.

 

[PB.200]

so if you give the car back after 3-4 months
you dont have to pay any depreation costs???
cus they lose a grand soon as they leave the forecort
sorry for askin

You would have paid your deposit and monthly payment so you would suffer the depriciation.

But no different to selling a cash bought car.

 

[Mike Roberts]

Look at the cost of ownership.

Say after 2 years it is worth 50% for argument's sake, so that's how much you're offsetting and not paying interest on - you don't borrow the whole amount.

£16k car. £1k down, 24x200, total cost = £5800. GFV.

Loan

£16k car. £16k loan over 4 years (to offset 50% and mirror PCP) 24x390 (based on average rate of 8.7%). Total cost for 2 years £9432. No GFV.

At the end of 2 years, both people want out of the car.

PCP walks away.
Loaner sells car, clears balance of loan and starts again with any equity left.

Who has paid less?

 

[Roy]

interesting.seems to good to be true.

 

[PB.200]

The APR will be worked out on the total load inc the GFV. Thats why its so low if it was just the amount you finance minus the GFV the apr would be much much higher.

Think the total cost of my finance is about £800 so very crudely £800/£13400 roughly 6% over 2 years which is roughly 3% APR

Obviously my figures are very crude and a bit out as my APR is actually 3.5% but I think you will get what I mean.

 

[Mike Roberts]

Not always, Roy.

Most PCP deals have a much bigger deposit, higher APR and God awful GFVs... Look at the variety of quotes the OP got, you can easily get shafted.

Renault dealers are making about £70 a go, it's all about flooding the market with 200s to ensure there's lots to sell in the future... nobody was buying them.

Great for us, crap for the 2nd hand market in 2 years time.

 

[Roy]

crap for 197 owners now prices soooooooooooo low

 

[Mike Roberts]

Yep, they're getting battered.

Giving this back in 2 years will be a blessing, I can see them being worthless.

 

[Roy]

Yep, they're getting battered.

Giving this back in 2 years will be a blessing, I can see them being worthless.

i understand now why you have
done it this way,nice 1

 

[Maz]

It gives you the option to walk away at the end of the term (2/3 years) if you want to without having to try and sell a car that there are another thousand of them for sale at a lower price.. wish I had this option on my 182, I had to sell for silly money to get rid.. funny thing was I seen a thread the other day selling one for the same money I sold mine for 2 years ago and thought "you will be lucky".

 

[Deako]

Mine will be 3 years, but to be honest, it might get bought out and tracked to death at the end.