A long post! I'd really appreciate peoples thoughts/experience.
Before I go and see my local dealer... Is the below realistic?
I want a 1.4 TSI FR. This is my own calculations based on some assumptions of headline deals (for the 1.2 TSI at SEAT Liverpool) and the GFV of that car being 40% of the full retail cost. I will be doing 12k miles per year over 3 years.
With the
help of
PCP Cal, this is likely the "worst" case scenario. My car trade in valuation is based on the WhatCar valuation of being "Poor". My car is far from "poor" condition, it has been fully serviced at SEAT every year for 5 years. Has a clean MOT. And only minor cosmetic issues (which WhatCar define as being "good", I've used "poor" as a worst case).
Any thoughts?
Cost price - £19,565
My Deposit - £500
PartEx valuation- £2,500
Dealer Deposit - £1,770 (@ Liverpool SEAT for 1.2 TSI - assuming they do similar for the 1.4 FR?)
GFV - £7,826
Finance @ 4.9% APR
36 monthly payments of £240.51
Ideally I want to get this down... so what are my options (without putting a bigger amount down myself)
1. Do I have room to negotiate the cost price down? Brokers have it for as little as £16-17k (the likes of Drive the Deal). Obviously this will not include the additional deposits that my local dealer would offer. Can I get the "effective" cost down to around £17.5k (including all additional deposits by the dealer/SEAT)
2. Part ex/Trade in valuation - WhatCar have said around £2,500 in "poor" condition. My car is far from poor (I just went worst case). Will SEAT likely offer me this? Maybe even more? For reference the likes of WEBAC are offering around £1,800 cash.
3. GFV - I've gone on 40% which to me feels reasonable based on my experience. Similar Leon (same make/model/age/mileage) are priced around £9.5-£10.5k on autotrader. Understanding how GFV's work, and the fact that the "old" shape have lost some value, is £7,826 realistic, can it be more?
Taking those 3 things into account is something like this plausible?
Cost price - £18,995 (£1k off list price)
My Deposit - £500
PartEx valuation- £2,500
Dealer Deposit - £1,770 (@ Liverpool SEAT for 1.2 TSI - assuming they do similar for the 1.4 FR?)
GFV - £8,500 (similar to GFV that a broker4cars are offering for same age/mileage)
Finance @ 4.9% APR
Monthly payments £206.03
My intention at the end of the 3 years will be to trade up. So paying the least amount of money over those 3 years is my intention (without impacting the GFV too much). I want equity in the car ready to trade in and start again, so having £2k-3k in the car at that stage is important.