Spent a lovely Sunday Afternoon with the Mother-in-Law at a Car Dealership
Very rusty on buying cars myself (normally have a Company Car)
So thoughts on this
She currently has a Fiesta 2 years old with 6,000 miles (probably cheaper to take cabs)
She is wanting a New Fiesta (List price £14745 plus £1024 for paint options and £299 on Gap Insurance we they said she must have as this is a Finance Option) Total = £16068
They are giving her £8,500 Value against her old car (or she can buy outright which is £5940)
£1000 Deposit
And 24 payments of £296.46 with a Final "Baloon" payment of £6165
Thoughts?
?
Also Car Dealerships (LOL) must sign today (£500 deposit) otherwise we may not be able to order the car in the Color you want and your Car's Value is going down all the time (Do Ford's go down that much in a week!)
This is an absolute rip off and I'd refuse to buy the car purely for insulting my intelligence.
I think you should check out what your car is worth trade in with Parkers; also look at What Car for the true OTR price you should pay. I'd then also look at getting your own insurance quote and also going on the Net for a quote on any finance required (the APR will be waaaaay lower). Do the math and I bet there'll be a huge difference in the final actual costs to you.
Whilst this is all true it is also a lot of hassle.
Everybody knows that you pay a premium for buying from a dealer but it's easy so people do it.
If you mother in law wants a new car and is happy with the price she pays then let her pay over the odds.
She clearly has the money and she'll be happy with her new car so what's the problem?
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