Any car dealers out there that can yay or nay this ? for me

[HerMajesty]

Have you tried talking to your finance company directly?

Your contract is with them....not the garage.

They may even offer you a better deal as they won't be paying the garage commission.

Have a few quotes to hand from other avenues of finance.

Try and get the money up front...then go as a cash buyer.

HE WHO HAS THE GOLD MAKES THE RULES!

Yvonne x

I agree, and also with madelaine. But you are sounding as tho you have your mind made up already and are happy with the deal you are offered. Good luck........let us know how it works out.

[shezz]

Have you tried talking to your finance company directly?

Your contract is with them....not the garage.

They may even offer you a better deal as they won't be paying the garage commission.

Have a few quotes to hand from other avenues of finance.

Try and get the money up front...then go as a cash buyer.

HE WHO HAS THE GOLD MAKES THE RULES!

Yvonne x

I do deal direct with the finance company as they wont deal with anyone else, the settlement figure is for my use, the I decide how to sell, BUT the figure they offer only last for a month at a time the you have to re apply for a settlement figure, anyone can pay off that, but I would need to pass that info onto anyone else

The trouble is also, I work ,Moday to Fiday that only leaves weekends, apart from all the housework, washing shopping ect I have to do to catch up on things, i don't really have that much time to advertise it private.

[kreativebargains]

Put it on eBid.

List as a featured listing and it would only cost £1.

[shezz]

I agree, and also with madelaine. But you are sounding as tho you have your mind made up already and are happy with the deal you are offered. Good luck........let us know how it works out.

Hiya yes I am more then likely geting the car that was never the issue the issue was not knowing if how they was maniupulating the figures was ok, but also since posting I have looked more and more into it and learnt more and more my self about it, I just wondered if any one knew of another way I could go in and suggest to the dealer how they might be able to alter the figures so i would not have to pay the VAT,

[madelaine]

What puzzles me is that VAT is usually chargeable on a whole transaction - profit doesn't come into it.

However, you have decided, shezz, and I hope it all goes right for you.

[shezz]

What puzzles me is that VAT is usually chargeable on a whole transaction - profit doesn't come into it.

However, you have decided, shezz, and I hope it all goes right for you.

I know Madelaine thats why I did look into it, it is complicated on second hand stuff mind boggingly and I did read into it. extract taking from HMRC.

Buying second-hand vehicles

If you buy and sell second-hand vehicles you might be able to account for the VAT by using the margin scheme, but only if there is no VAT shown on your purchase invoice. When you sell a vehicle under the margin scheme, instead of paying VAT on the full selling price, you work out the VAT due only on the difference between what you paid for the vehicle and what you sell it for - your 'margin'. There is no VAT for you to reclaim.

[squern]

I am not a car dealer, and I usually pay cash for my cars, having saved the cash up. Old-fashioned, I know, but it avoids a lot of costs, hassle and uncertainty.

I have tried to make sense of what is proposed, and can't. It all sounds a bit iffy, and car dealers, like estate agencies and politicians are not known for their truthfullness and altruism.
So here's a few suggestions:

1. Don't trade your car in, yet. Pay off more or all of the outstanding credit, and start off with a clean slate.
That's the best idea of all, and will save you the most money.
If you can wait a year, say, you will have paid off the loan, and the car you want, or an identical model, will be cheaper because it is a year older but won't necessarily have done more mileage.

2. Negotiate with the finance company for a reduction if you pay off early - I know that works with bad debts (often 50% off).

3. Sell your old car privately. You will get more for it.

4. It's never a good idea to take finance from the car seller. They offer top rates and take a commission, so you will always get a better deal from a bank or loan company (Wonga excepted!)

5. If you absolutely must have this car now, let the dealer think you can't afford it and are about to walk away from the deal. You might find the price comes down.

I know it's none of my business, but I worry about people getting into debt they can't repay. I have some experience of helping people get out of that situation, and it's not easy, quick, or painless. It can affect your life in ways you can't imagine for years to come.
What would happen if you took on this deal and lost your job the next week? Or interest rates were to rise, which they will sooner rather than later?

Apologies for sounding patronising, but have you got yourself locked into the idea of this car, and must have it now? Can you take a step back and consider the disadvantages of going ahead with it?

As I said at the beginning, this deal looks iffy to me. I would not be willing to put myself at such risk, when I had a car that was working.
I would make it last a bit longer, and then buy a car on my terms from a stronger negotiating position.

[shezz]

aww thanks for the concern Squern.

Years ago when I was with my ex I never had two pennies to rub together, yes i got in dept, knew nowt and had less.

So

i got rid of my good for nothing ex, went to college and done a university course, in business and finance, had to wear one of those stuipid caps and capes when I had to go on stage to pick up a roll of nothing (LOL) as certs are sent in post.

From then on have climbed the ladder to get where I am today, I now own my house outright (such a good feeling) am in a well paid job with a good bonus each year, and I know for a fact that my job quite secure (for the next 5 years at least),

I have been there and done it would not go there again,

I brought my car from almost new - never again, its been back so many times, now feb the first MOT is due, and warranty is out, I have only kept it so long as to make sure that I have brought the finance down a bit, as a new car you loose quite a bit as soon as you drive off forecourt otherwise i would of got shot of it ages ago. hence me paying off the negative equity so I dont loose nearly as much on the new car, I am aware of the difficulties people can get into financially, seen it helped people out myself, so am not worried about finance myself.

If i was only paying a few hundred on a car then yes I would pay cash, but its a few thousand so would rather pay monthly.