Alex08
Joined: 09 Nov 2006
Location: Glasgow
Posts: 710
 
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OK - understand the arguments for and against balloons. BUT assuming one exists and the payment time is coming, what would you lot do if
1. the car was reliable and had all the bits you wanted (ie it is worth making the last payment)
and
2. The Final Payment is higher than the car is now worth as the bottom has fallen out of the 2nd hand market - say 5k difference between the Final Payment and the Market Value
then do you
a. take the hit for a good car and make the final payment
b. hand it back and take a chance with another 2nd hand one of the same spec but pay 5K less
c. try and negotiate with the finance company to keep yours but at a lower Final Payment - they will otherwise take the 5k hit, won't they? Would that work?
Suggestions please
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 Thu Jul 17 2008 4:23pm |
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Bodsy
Joined: 06 Nov 2006
Location: Home, home on the range........
Posts: 5471
 
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I've heard that some finance companies are open to the final negotiation, and others just refuse anything other than the pre agreed figure.
if 5k difference (off approx £20k value) then I'd be inclined to hand it back & get another 2nd hand one from a dealer. £5k is a lot to cover the risk of potential repairs. TDV6 HSE Black, Black Wheels /MTR's(in the shed!), Black RRS front/rear LR badge (tbf) Black Leather, Black Glass, Black TowB, Shiny Tasmods, Dull Mantec, White (& Orange) Reflective D3 Sticker, Black steering wheel badge, black air intake. Optima & Traxide dual battery setup.
Need black RRS wheel centre caps.
Now with added Engel.....
We D3, therefore we are..........
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| Thu Jul 17 2008 4:28pm |
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JMC
Joined: 25 Feb 2006
Location: Aberdeen-Angus. Where the Bull* comes from!
Posts: 3679
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DG wrote:I know what you are saying ....but when you are only worried about paying a set monthly fee and you change the motor for new every 3 years ...I'm not so sure that really matters does it?
I'll make my apologies now for being a bit old-fashioned about this 
I too, know what you are saying DG, but the problem with a set monthly fee is exactly that it is 'set' for x number of years. You change the motor and go into another deal and you budget accordingly.
However, I'll tell you where it matters - One day, you go into work and find your desk has been cleared for you....
Now, tell me that a set monthly payment doesn't matter.  On the other hand, when needs must - if you own what you are driving, you can at least sell it (perhaps at a reduced price) and still put food on the table for the kids and pay the mortgage for a good while until things improve.
Debt is debt no matter how you want to package it. This is the whole problem in this country and with this damn government.  The older I get, the more I realise that people confuse wrinkles for wisdom 
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| Thu Jul 17 2008 4:50pm |
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DG
Joined: 12 Dec 2005
Location: The Gaff !
Posts: 13725
 
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JMC wrote:
However, I'll tell you where it matters - One day, you go into work and find your desk has been cleared for you....
Now, tell me that a set monthly payment doesn't matter.
My meager settlement package would mean that I could only go for a new HSE and perhaps a nice RRS TDV8 as a Sunday car  Powered by............................
.
I've been accused of vulgarity. I say that's bullshit 
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| Thu Jul 17 2008 5:07pm |
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JMC
Joined: 25 Feb 2006
Location: Aberdeen-Angus. Where the Bull* comes from!
Posts: 3679
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Folks who are locked into these finance agreements may not be as fortunate as you........  The older I get, the more I realise that people confuse wrinkles for wisdom
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| Thu Jul 17 2008 5:11pm |
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countrywide
Joined: 16 Sep 2007
Location: Sunny South Coast
Posts: 1461
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DG wrote:JMC wrote:
However, I'll tell you where it matters - One day, you go into work and find your desk has been cleared for you....
Now, tell me that a set monthly payment doesn't matter.
My meager settlement package would mean that I could only go for a new HSE and perhaps a nice RRS TDV8 as a Sunday car
Depends on the company, if like one of our customers the company goes down with no money then the staff don't get paid their salary let alone a settlement.
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| Thu Jul 17 2008 5:15pm |
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DG
Joined: 12 Dec 2005
Location: The Gaff !
Posts: 13725
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JMC wrote:Folks who are locked into these finance agreements may not be as fortunate as you........
...and to suggest that most cannot live without getting into some form of debt ..indicates that most are not as fortunate as you too Powered by............................
.
I've been accused of vulgarity. I say that's bullshit
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| Thu Jul 17 2008 5:24pm |
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DG
Joined: 12 Dec 2005
Location: The Gaff !
Posts: 13725
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countrywide wrote:
Depends on the company,
Depends if it's a company Powered by............................
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I've been accused of vulgarity. I say that's bullshit
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| Thu Jul 17 2008 5:30pm |
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JMC
Joined: 25 Feb 2006
Location: Aberdeen-Angus. Where the Bull* comes from!
Posts: 3679
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DG wrote:to suggest that most cannot live without getting into some form of debt ..indicates that most are not as fortunate as you
Not sure how you come to that conclusion even if it's correct 
I'm not suggesting anything to the contrary - but believe me I've worked damn hard to be debt free. I've never bought new cars for the sake of it and I haven't spent money on stuff if I couldn't afford it. If the majority took this route then we wouldn't have a nation in £1.4 Trillion of debt.
Anyway, the thread starter asked a question and I've given the benefit (?) of my own lifestyle choices. If that doesn't fit with theirs or the majority of debt loving souls then it's not my concern. The older I get, the more I realise that people confuse wrinkles for wisdom
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| Thu Jul 17 2008 5:38pm |
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DG
Joined: 12 Dec 2005
Location: The Gaff !
Posts: 13725
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Lend us a fiver  Powered by............................
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I've been accused of vulgarity. I say that's bullshit
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| Thu Jul 17 2008 5:46pm |
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PaulP
Joined: 04 May 2007
Location: Barcelona
Posts: 760
 
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DG wrote:My meager settlement package would mean that I could only go for a new HSE and perhaps a nice RRS TDV8 as a Sunday car
If they cleared your desk because you spend all day on this forum, then I doubt they'd be inclined to give you a settlement package....that sort of settlement is usually called being fired, not being made redundant  2006 TDV6 SE Auto Buckingham Blue
2007 Golf GT DSG
1990 Audi 90 2.2E Sport 5-cyl Tornado Red
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| Thu Jul 17 2008 5:50pm |
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DG
Joined: 12 Dec 2005
Location: The Gaff !
Posts: 13725
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 People don't get 'fired' in my environment my dear boy You either end up on permanent Garden leave ...or wearing a pair of concrete shoes in the Garden pond Powered by............................
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I've been accused of vulgarity. I say that's bullshit
Last edited by DG on Thu Jul 17 2008 6:14pm; edited 1 time in total
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| Thu Jul 17 2008 6:05pm |
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catweasel
Joined: 05 May 2006
Location: LONDON
Posts: 4048
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provided the concrete shoes meet the HSE's requirements
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| Thu Jul 17 2008 6:10pm |
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JMC
Joined: 25 Feb 2006
Location: Aberdeen-Angus. Where the Bull* comes from!
Posts: 3679
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DG wrote: People don't get 'fired' in my environment my dear boy
Maybe one day I will discover what you........
do
did
pretend to do while being on a forum
pretended to do before being caught
oh whatever! The older I get, the more I realise that people confuse wrinkles for wisdom
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| Thu Jul 17 2008 6:21pm |
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