[Alice Coupe]

Originally Posted by scottc

You don't need to change my mind as it's very simple unfortunately you just don't get it

Ok so going on your theory he will be worse off buying another car now than he was before.

What if In a moment of madness he went and bought another A7 but because he has no px (£3k lost) can now take take the full discount because there is no negative to get rid of.

If he puts the same £3k deposit in will he have less finance than he had in the previous Audi? If so then is he is not only better off than he was in the last Audi he has a car as well

This would mean he has less finance and a car which he could use to meet me in a pub where I would happily buy him a drink

I have heard it all now.

Enjoy your drink.

[JustChris]

[IMG]https://media2.giphy.com/media/l2SpU...3548356becacbf[/IMG]

[HighlandPete]

Originally Posted by Alice Coupe

I have heard it all now.

Enjoy your drink.

Which ever way we look at it, he has a clean sheet, can start again without having any previous negative equity in any new deal.

The only problem would be, is if the Audi dealer could come after him to recover their loss. They've had to write it off, due to the rejection of the A7.

[scottc]

Originally Posted by Alice Coupe

I have heard it all now.

Enjoy your drink.

[agentorange]

This thread reminds me of the house price boom of the 1980s. People kept telling me how much money they had because their house was worth than what they paid. I would ask how much of this "money" they were going to spend on a cruise. Their faces were a picture as the realization hit that they did not actually HAVE that money.

To stay on topic, what I see here is:

1) The father in law (FIL) got out of a 12k negative equity situation for three grand.
2) The FIL now rides the bus.
3) To match their view of the world many on here call that a "saving". That's between them and their analyst, IMHO.

[JustChris]

[DB118D]

Originally Posted by scottc

He didn't and traded it where Audi cleared the x6 finance without him having to pay the £12k.

He did pay the £12k though

The A7 he bought was £12k more expensive than it should have been

[scottc]

Originally Posted by DB118D

He did pay the £12k though

The A7 he bought was £12k more expensive than it should have been

[Goneinsixtyseconds]

Originally Posted by scottc

I love how seriously you're taking this thread, which is almost certainly a made up scenario by the OP.

[JNW1]

Originally Posted by DB118D

He did pay the £12k though

The A7 he bought was £12k more expensive than it should have been

Just think of it in cash terms; to get out of the X6 - and have no car and zero equity - would have cost £12k whereas to get out of the A7 - and also have no car and zero equity - cost £3k.

If he hadn't rolled the X6 into the deal with the A7 then yes the price on the Audi would have been lower because "losing" the £12k of negative equity from the X6 will have just been a concealed discount. However, if he'd still rejected the A7 for whatever reason surely the best he could have done from a finance perspective was to get his deposit back and take him back to the position he was in before signing-up for the car? Therefore, rejecting the A7 without the X6 in the deal would have at best cost him nothing but in reality - because the X6 was in the deal - it cost him £3k. However, isn't that still a better option than paying £12k just to hand back the X6?

Obviously all this assumes the OP's scenario and figures are genuine which may or may not be the case.....

[NotGotABimmer23]

Just come to mind but surely if he rejected the A7 he got his 3 grand deposit back? Thats how a rejection works.

[JNW1]

Originally Posted by kylemacca01

Just come to mind but surely if he rejected the A7 he got his 3 grand deposit back? Thats how a rejection works.

Yes, I'd have thought the OP's FIL should have got his £3k deposit back if the finance agreement was cancelled during the statutory cooling-off period; perhaps anomalies like this are why some on here are questioning the original scenario set-out by the OP?

[Alice Coupe]

Originally Posted by JNW1

Just think of it in cash terms; to get out of the X6 - and have no car and zero equity - would have cost £12k whereas to get out of the A7 - and also have no car and zero equity - cost £3k.

If he hadn't rolled the X6 into the deal with the A7 then yes the price on the Audi would have been lower because "losing" the £12k of negative equity from the X6 will have just been a concealed discount. However, if he'd still rejected the A7 for whatever reason surely the best he could have done from a finance perspective was to get his deposit back and take him back to the position he was in before signing-up for the car? Therefore, rejecting the A7 without the X6 in the deal would have at best cost him nothing but in reality - because the X6 was in the deal - it cost him £3k. However, isn't that still a better option than paying £12k just to hand back the X6?

Obviously all this assumes the OP's scenario and figures are genuine which may or may not be the case.....

I don't think anyone is disagreeing with that part.
In this instance he's basically said, I want to end up with nothing, here is £3k. Have my car and £3k to get out of my contract.

That's not the end of the story and that's where it falls down. The negative equity is a bit mythical. You may find 6 months down the line te equity was nearer £6k, we don't know. You may find the GFV of the x6 is (as is typical of BMW) artificially high. We don't know. That aside, the full picture will only be apparent when we see the figures that get him back to where he was and I'd bet my bottom dollar if he goes back and buys the same car from Audi, the discount will be at least £6k less and he will immediately have massive negative equity.

[ZeroFx]

Some of the posts here are comical.

Ive got better stuff to do than make up stories on the web. I asked for the benefit of my father in law who always PCP's hes cars and motobikes as his company covers the cost and he changes cars all the time. You know my position on PCP, trust me i tell them the same.

Hes now got an S4 avant on what looks like a decent deal around 540 a month. Brand new and highly specced which comes in a few weeks. The 12k negative equity has gone. Not sure what deposit hes put down but it would be minimum he could APR is 1.9% i think.

Despite what some people on here seem to think about the 12k negative equity. That was a debt and now its gone and hes got a fresh slate and much lower payments on a new car on a new deal.

At least until about 12 months time until hes bored and gets a different one and ends up back in the same position as he was in the A7.

[Goneinsixtyseconds]

Originally Posted by ZeroFx

Some of the posts here are comical.

Ive got better stuff to do than make up stories on the web. I asked for the benefit of my father in law who always PCP's hes cars and motobikes as his company covers the cost and he changes cars all the time. You know my position on PCP, trust me i tell them the same.

Hes now got an S4 avant on what looks like a decent deal around 540 a month. Brand new and highly specced which comes in a few weeks. The 12k negative equity has gone. Not sure what deposit hes put down but it would be minimum he could APR is 1.9% i think.

Despite what some people on here seem to think about the 12k negative equity. That was a debt and now its gone and hes got a fresh slate and much lower payments on a new car on a new deal.

At least until about 12 months time until hes bored and gets a different one and ends up back in the same position as he was in the A7.

It's just because you never sound sure of your facts, or take the time to check.

First time it was an Audi A7 biturbo, which they definitely don't make anymore. Now it's an S4 that doesn't appear on the Audi website for ordering at the moment. They stopped selling it for a while for the new emissions reporting. It could be back for sale, and just the website behind, who knows.

Even if it is, the £540 can't be at minimum deposit. You can have zero deposit on pretty much any pcp, even a factory order. You pay a deposit to secure the build, and then get it back upon collection.

[Alice Coupe]

Originally Posted by ZeroFx

Despite what some people on here seem to think about the 12k negative equity. That was a debt and now its gone and hes got a fresh slate and much lower payments on a new car on a new deal.

At least until about 12 months time until hes bored and gets a different one and ends up back in the same position as he was in the A7.

So he has no debt, or negative equity on the new PCP.

You mean it will be 12 months and he’s back in the same position as he was with the X6.

[ZeroFx]

Originally Posted by Alice Coupe

So he has no debt, or negative equity on the new PCP.

You mean it will be 12 months and he’s back in the same position as he was with the X6.

Your point is what exactly?

[Alice Coupe]

Originally Posted by ZeroFx

Your point is what exactly?

You said he has no debt. That’s. Nonsense.
You say he now has no negative equity. Also nonsense.

[ZeroFx]

Originally Posted by Alice Coupe

You said he has no debt. That’s. Nonsense.
You say he now has no negative equity. Also nonsense.

has no debt from the previous car. Thats the point.

You could argue with a paving slab.

[scottc]

Originally Posted by ZeroFx

has no debt from the previous car. Thats the point.

You could argue with a paving slab.

Trust me it's not worth arguing, you could draw him a picture and he still wouldn't get it

[ZeroFx]

Well in case anyone thought i was lying.

You will now.

The car has been netted down to 37k by Audi. £470 a month with no deposit for a brand new S4 avant wheels also upgraded as a gift from the dealership.

[dawal6]

dealership name and contact then, as if thats a real deal (i suspect not) then i'll have one too!