[AyrshireColin]

Guys seeing lots of lovely new cars getting ordered and lots of comments that suggest (for some) that the boom in used car values/new found equity is the trigger for this….that being the case, when I’m reading about new orders being placed how are the dealers handling trade-in?

In days of old if the dealer said £10 trade in it was all pretty predictable - deal was agreed and new car was ordered.

Current situation where used values are inflated and the dealer is saying £12 trade in (today) and your new car might be about 6/7/8/9 months how is that being handled? Are dealers projecting a future trade in value? Are dealers just locking into a deal at current value?

Personally I’m 20 months into a PCP and have £2k of equity (unheard of in days gone by!). I’m not falling over myself to change but if I could be 6 months on a new order - which also equates to me paying another £3.5k down on my agreement - I’m getting interested, and trying to figure out how dealers are handling this when agreeing to a deal.

[D69GMB]

I have already done my deal as you know. I have agreed my positive equity as a minimum and if the value rises by the time my new car arrives the figures will be adjusted accordingly. Think the dealers are struggling to get their heads round the change in the values of used cars. What have you been looking at?.

[Rhino at Work]

I'm getting the feeling that many people are now splitting the two transactions. I'm going to do it for the first time soon - it feels much less daunting these days.

[KCH1984]

I ended up selling mine privately, but had agreed a PX value.

As stated above, that was the price I would get from the dealer at the point the new car was delivered but I was free to sell the car outside of that transaction. Your dealer will likely bake in some protection on that PX price, so today it will be lower than you can probably achieve if you were to sell now, but equally if the arse was to fall out of the used car market you're somewhat protected.

That said, if we're now talking 6 month lead times on new orders then I don't see where an abundance of used stock is coming from anytime soon so you might still end up doing well next year. What sort of Q3 deals have you found? Comparing like for like, I'd be paying a lot more for my car I think if I ordered now as opposed to back in April but just got lucky with the timings.

[AyrshireColin]

Originally Posted by D69GMB

I have already done my deal as you know. I have agreed my positive equity as a minimum and if the value rises by the time my new car arrives the figures will be adjusted accordingly. Think the dealers are struggling to get their heads round the change in the values of used cars. What have you been looking at?.

I've not really been looking at anything, I'm just thinking out loud at this time.

I just view the car as a monthly cost - go get a new one when it breaks even and start the cycle again. The 'problem' is that this one has not only broke even before it should have it's sitting with equity.....getting towards the point where I'm thinking I'd be stupid not to explore my options.

Would really like an X5 but think they're too rich for me.

[AyrshireColin]

Originally Posted by KCH1984

I ended up selling mine privately, but had agreed a PX value.

As stated above, that was the price I would get from the dealer at the point the new car was delivered but I was free to sell the car outside of that transaction. Your dealer will likely bake in some protection on that PX price, so today it will be lower than you can probably achieve if you were to sell now, but equally if the arse was to fall out of the used car market you're somewhat protected.

That said, if we're now talking 6 month lead times on new orders then I don't see where an abundance of used stock is coming from anytime soon so you might still end up doing well next year. What sort of Q3 deals have you found? Comparing like for like, I'd be paying a lot more for my car I think if I ordered now as opposed to back in April but just got lucky with the timings.

Yeah I think I'll have to have a conversation with my dealer as it really does come down to how they manage it/what they commit to.

The way I'm looking at it is 'if' I'm £2k up right now, 'if' I was to order a new car with approx. 6 months lead time I'd be taking my settlement down by that £3.5k (6 months payments) - now the easy but unrealistic thing to do would be just to assume my current P/X value is what it is.....£5.5k up/equity - happy days.

Obviously the P/X isn't going to be locked in at current levels but I'm thinking that even if I was to settle on a halfway house (allowing for a drop in values) and be sitting with £2.5k-£3k equity to roll into the next car, I would be happy enough to put in another maybe £2k. I'm thinking that at £5k down and £600pcm (my good lady caps me at this!!) on a new PCP I can shop for something.

I'm also in the place where even if I just ended up with another X3 M40i - which would be an LCI and out the wrapper - at the same monthlies then I should be asking the question.

Not seen any deals sadly!

[strike4A]

Originally Posted by AyrshireColin

I'm also in the place where even if I just ended up with another X3 M40i - which would be an LCI and out the wrapper - at the same monthlies then I should be asking the question.

Not seen any deals sadly!

This is what I’m about to do. Current M40i PCP runs until March 2022 so am going to get order in now for the LCI. Looked at the X5 but couldn’t justify the extra cost really plus more deleted options on the X5 40i whereas M Performance models are more protected so the LCI M40i only loses wireless charging. Going to add Laserlights, M seats and Tanzanite paint to up the premium levels.

[D69GMB]

Originally Posted by AyrshireColin

Yeah I think I'll have to have a conversation with my dealer as it really does come down to how they manage it/what they commit to.

The way I'm looking at it is 'if' I'm £2k up right now, 'if' I was to order a new car with approx. 6 months lead time I'd be taking my settlement down by that £3.5k (6 months payments) - now the easy but unrealistic thing to do would be just to assume my current P/X value is what it is.....£5.5k up/equity - happy days.

Obviously the P/X isn't going to be locked in at current levels but I'm thinking that even if I was to settle on a halfway house (allowing for a drop in values) and be sitting with £2.5k-£3k equity to roll into the next car, I would be happy enough to put in another maybe £2k. I'm thinking that at £5k down and £600pcm (my good lady caps me at this!!) on a new PCP I can shop for something.

I'm also in the place where even if I just ended up with another X3 M40i - which would be an LCI and out the wrapper - at the same monthlies then I should be asking the question.

Not seen any deals sadly!

Best idea is go and chew the fat at Fairbairns, this what I did and was very pleasantly surprised, I also did a wbac valuation before I went as this seems to be a true representation of what the car is actually worth. Best to phone and make an appointment first though, think is the new expected way now.

[AyrshireColin]

Originally Posted by strike4A

This is what I’m about to do. Current M40i PCP runs until March 2022 so am going to get order in now for the LCI. Looked at the X5 but couldn’t justify the extra cost really plus more deleted options on the X5 40i whereas M Performance models are more protected so the LCI M40i only loses wireless charging. Going to add Laserlights, M seats and Tanzanite paint to up the premium levels.

What kinda discount you looking at on a new order?

I did notice that wireless charging wasn't showing on the LCI - that's a bit sh*t. I know it's hardly a deal breaker!

My pause with the X3 is that mine is pretty much loaded (M Sport+, technology pack, comfort pack and pano. roof). To go same spec. (I know that M Sport+ isn't the same thing any longer) I'm starting to head towards that X5 question ££ wise.

[DaveA]

Originally Posted by AyrshireColin

Yeah I think I'll have to have a conversation with my dealer as it really does come down to how they manage it/what they commit to.

The way I'm looking at it is 'if' I'm £2k up right now, 'if' I was to order a new car with approx. 6 months lead time I'd be taking my settlement down by that £3.5k (6 months payments) - now the easy but unrealistic thing to do would be just to assume my current P/X value is what it is.....£5.5k up/equity - happy days.

Obviously the P/X isn't going to be locked in at current levels but I'm thinking that even if I was to settle on a halfway house (allowing for a drop in values) and be sitting with £2.5k-£3k equity to roll into the next car, I would be happy enough to put in another maybe £2k. I'm thinking that at £5k down and £600pcm (my good lady caps me at this!!) on a new PCP I can shop for something.

I'm also in the place where even if I just ended up with another X3 M40i - which would be an LCI and out the wrapper - at the same monthlies then I should be asking the question.

Not seen any deals sadly!

Once used car prices shot up, I sold my car short of the new one coming and bridged the gap between old and new by using long term rental deals… and I found, overall, after putting in the deposit for the new car, that I was about £1k better off, once everything was taken into account…

I could have done better than 1K if I had held on for a week or two longer to sell and also by finding the cheaper rental deals more quickly… Still, I have no complaints, it worked out in the +ve..

Balanced against the cost of rentals, your “savings” will be the monthly outgoings (PCP, insurance, tax etc)

If you are trying to look forwards, bear in mind your settlement figure will not reduce by the full amount of your payments due to how the interest is calculated… On mine, it was reducing between 85 and 90 percent of my payments on a monthly basis (it depends how far along your agreement you are)… Obviously you will be paying the regular monthly payments in between so the +ve equity into the overall calculation may not really change much, even if the value remains more of less the same (as although you get more, you have also paid more)..

It is worth running. Simple spreadsheet if you are considering options and want to understand your own personal circumstances better…

[DaveA]

Originally Posted by AyrshireColin

What kinda discount you looking at on a new order?

I did notice that wireless charging wasn't showing on the LCI - that's a bit sh*t. I know it's hardly a deal breaker!

My pause with the X3 is that mine is pretty much loaded (M Sport+, technology pack, comfort pack and pano. roof). To go same spec. (I know that M Sport+ isn't the same thing any longer) I'm starting to head towards that X5 question ££ wise.

Wireless charging is not on the cars because of the current semiconductor shortages, I believe... I could not get it on my new car..

Having said that, it is not loss to me... On longer journeys it is easy enough to plug the phone in and on shorter journeys it still works when in your pocket...

[dopper99]

Originally Posted by DaveA

Once used car prices shot up, I sold my car short of the new one coming and bridged the gap between old and new by using long term rental deals… and I found, overall, after putting in the deposit for the new car, that I was about £1k better off, once everything was taken into account…

I could have done better than 1K if I had held on for a week or two longer to sell and also by finding the cheaper rental deals more quickly… Still, I have no complaints, it worked out in the +ve..

Balanced against the cost of rentals, your “savings” will be the monthly outgoings (PCP, insurance, tax etc)

If you are trying to look forwards, bear in mind your settlement figure will not reduce by the full amount of your payments due to how the interest is calculated… On mine, it was reducing between 85 and 90 percent of my payments on a monthly basis (it depends how far along your agreement you are)… Obviously you will be paying the regular monthly payments in between so the +ve equity into the overall calculation may not really change much, even if the value remains more of less the same (as although you get more, you have also paid more)..

It is worth running. Simple spreadsheet if you are considering options and want to understand your own personal circumstances better…

Dave, have you got any recommendations on cheap short term rental deals? It'll be god knows how long until I get my new Golf so looking at options to see whats out there.

[Hartside]

I don’t think your losing much with the wireless charging as it doesn’t half heat the phone up to very high levels and only just seems to keep up with charge being used. In my mind it’s not good for the phone, but I could be wrong. If I’m going any distance it seems to work best by having a full charge in the phone and it kind of maintains the phone to about 90% charge. Start using Waze etc and it can’t keep up well at all, much better just plugging the phone in with a cable.

[strike4A]

Originally Posted by AyrshireColin

What kinda discount you looking at on a new order?

I did notice that wireless charging wasn't showing on the LCI - that's a bit sh*t. I know it's hardly a deal breaker!

My pause with the X3 is that mine is pretty much loaded (M Sport+, technology pack, comfort pack and pano. roof). To go same spec. (I know that M Sport+ isn't the same thing any longer) I'm starting to head towards that X5 question ££ wise.

About 13.5% off

[dopper99]

Originally Posted by Hartside

I don’t think your losing much with the wireless charging as it doesn’t half heat the phone up to very high levels and only just seems to keep up with charge being used.

People are reporting the exact same thing on the Golf R forum. Phones getting very hot to the point the phones shut down to protect themselves (rare but has happened).
And as you say, they say it just about charges enough to hold the same percentage charge.

[DaveA]

Originally Posted by dopper99

Dave, have you got any recommendations on cheap short term rental deals? It'll be god knows how long until I get my new Golf so looking at options to see whats out there.

Yeah, sure…

In general, and as you may have already found, if you just go onto the car rental websites their usual rates are pretty high at the moment as there is strong demand.. But some of them do have long terms deals available… Although they can be hidden away on their websites and hard to find...

I spoke to Enterprise, who do have such deals, but theirs are only for B2B rentals with accounts etc… I also found this, from Europcar, that is available to Joe Public….

https://longtermhire.europcar.co.uk

I guess others do similar, but I never went too much farther in looking into other options as I was also limited by who had stations close by… But maybe a search on something like "XXX UK long term rental" (where xxx is name of car hire company) might bring up more...???

Depending on class rented, Europcar are showing (for my local station) rentals from £399 for 28 days (with 840 miles incl.. if you want more miles they charge a little extra, but not much..)… Something Golf-sized would be in the order of £480 for 28 days (£500 if you want a 2,500/month mileage limit)..

You have to pay for a period in multiples of 28 days (I don’t think there is a daily rate) but I found, when I was looking, for the car I had, it was cheaper by a long way to rent for the full 28 days on those rates than even just a couple of weeks at the standard rates (I think, when I looked, 2 weeks was over a £1,000 for an automatic golf-sized car at standard short term rates)…

This includes their insurance with a £1,100 excess… and if you want to protect against that, there are car rental excess insurance policies out there for less than £100.

I was lucky and got, basically, a brand new well-specified car (a Seat Leon FR) but, obviously, there can be an element of pot luck… I found my local Europcar folk helpful in finding a nice car after the one I was first allocated was not really all that good but they sorted the Seat within a few days for me…

Hope that helps...

[DaveA]

Originally Posted by dopper99

People are reporting the exact same thing on the Golf R forum. Phones getting very hot to the point the phones shut down to protect themselves (rare but has happened).
And as you say, they say it just about charges enough to hold the same percentage charge.

Exactly this in the Seat rental I had... First long journey with the phone on the charging pad, wirelessly, it heated up a lot and eventually it stopped charging... I never tried it again and simply cabled it up for the longer journeys....

... and in the BMW, it just means that front cubby hole is bigger now... and I am perfectly happy to have a small cable from the USB port right next to it... No bother at all...

[dopper99]

Originally Posted by DaveA

Yeah, sure…

In general, and as you may have already found, if you just go onto the car rental websites their usual rates are pretty high at the moment as there is strong demand.. But some of them do have long terms deals available… Although they can be hidden away on their websites and hard to find...

I spoke to Enterprise, who do have such deals, but theirs are only for B2B rentals with accounts etc… I also found this, from Europcar, that is available to Joe Public….

https://longtermhire.europcar.co.uk

I guess others do similar, but I never went too much farther in looking into other options as I was also limited by who had stations close by… But maybe a search on something like "XXX UK long term rental" (where xxx is name of car hire company) might bring up more...???

Depending on class rented, Europcar are showing (for my local station) rentals from £399 for 28 days (with 840 miles incl.. if you want more miles they charge a little extra, but not much..)… Something Golf-sized would be in the order of £480 for 28 days (£500 if you want a 2,500/month mileage limit)..

You have to pay for a period in multiples of 28 days (I don’t think there is a daily rate) but I found, when I was looking, for the car I had, it was cheaper by a long way to rent for the full 28 days on those rates than even just a couple of weeks at the standard rates (I think, when I looked, 2 weeks was over a £1,000 for an automatic golf-sized car at standard short term rates)…

This includes their insurance with a £1,100 excess… and if you want to protect against that, there are car rental excess insurance policies out there for less than £100.

I was lucky and got, basically, a brand new well-specified car (a Seat Leon FR) but, obviously, there can be an element of pot luck… I found my local Europcar folk helpful in finding a nice car after the one I was first allocated was not really all that good but they sorted the Seat within a few days for me…

Hope that helps...

Thanks Dave, great info.

[Wills2]

I've found wireless charging to be the same often just heats the phone up and doesn't charge at all, the 7 was Ok because you put it in a pocket so the phone stayed still with the pad in the X3M it would often move around and most of the pad didn't seem to recognise that there was a phone on it so there were two issues.

Only thing with a golf is they only have one USB (or mine does) so once the phone is plugged in that's it for charging.

[Lynxi2k]

Originally Posted by dopper99

Thanks Dave, great info.

Just wondering if you ran a cheap 2nd hand car for the period and sold at the end you may end up with free motoring(minus insurance) with the way the used car market is. Possibly a bit a of a risk, but unlikely to lose £400 a month that way.

Thinking out loud...

[DaveA]

Originally Posted by dopper99

Thanks Dave, great info.

Hope it helps...

Any news on when the R might be due..?

[Rbrown]

Spoke to Douglas Park Glasgow today. They are going to give me figures for new M40i. Interested to see what they will be like.

In terms of trade in. Was guided to selling own car privately as they could not commit to a trade in value as car would not be available until November and they feel the current high prices will not continue.