Yaris - delivery, etc

[Yugguy1970]

The dealer "deposit contribution" is just wooden dollars, a way to get to a deal you're both happy with.

The only money that really changes hands is the sum you put in at the beginning.

[anchorman]

59 minutes ago, Yugguy1970 said:

The dealer "deposit contribution" is just wooden dollars, a way to get to a deal you're both happy with.

The only money that really changes hands is the sum you put in at the beginning.

It is but if you can realise it by cashing in a few days later it’s a different story.  I know you could at one time but there may be a way of them stopping you or loading the settlement figure.  

[ISL]

To be fair @Bob66 has a point, have just looked at Toyota's website when configurating a car and when you click the "i" for information it states "The FDA must be returned by you if you cancel your finance agreement"

I guess during the buying process, is this clearly pointed out, do you sign agreeing this? however the wording in the finance agreement is meaningless within the cooling off period.  I would imagine when you request a settlement figure that they add this on which maybe a shock to some people.  You can't return the car unless not fit for purpose but you can cancel the finance deal within 14 days if you are not happy but potentially be landed with an extra £1750 to pay on top of the settlement.  I'm not sure whether this is misleading, but would be good to understand what is legally correct or not.

At the moment we are talking about cancelling within the 14 days but what happens when you wish to cancel 3 months or even 2 years later, does this amount still stand?

[Bob66]

On 1/22/2023 at 10:43 AM, Cyker said:

What are you even talking about? What do you mean by PCP contribution??

The PCP itself can totally be cancelled within 14 days - PCP *IS* a finance agreement and is covered by the FCA rules!

20 seconds of google:

https://forums.moneysavingexpert.com/discussion/5598724/pay-off-pcp-within-14-days

https://www.thecarexpert.co.uk/forums/topic/pcp-14-day-termination/

https://www.car.co.uk/car-finance/faqs/cancelling-finance/can-you-cancel-car-finance-within-14-days

And if I may say so, you should be a bit more polite when posting instead of mouthing off like a ***** about something you've clearly not even taken a few minutes to research!

 

You just don't understand.....read the Toyota document it's clear.

[Cyker]

 

 

[Bob66]

2 minutes ago, ISL said:

To be fair @Bob66 has a point, have just looked at Toyota's website when configurating a car and when you click the "i" for information it states "The FDA must be returned by you if you cancel your finance agreement"

I guess during the buying process, is this clearly pointed out, do you sign agreeing this? however the wording in the finance agreement is meaningless within the cooling off period.  I would imagine when you request a settlement figure that they add this on which maybe a shock to some people.  You can't return the car unless not fit for purpose but you can cancel the finance deal within 14 days if you are not happy but potentially be landed with an extra £1750 to pay on top of the settlement.  I'm not sure whether this is misleading, but would be good to understand what is legally correct or not.

At the moment we are talking about cancelling within the 14 days but what happens when you wish to cancel 3 months or even 2 years later, does this amount still stand?

I have paid off three PCP contracts early, after around 2 years in and never suffered an early penalty....but not sure that this would be the case if you cancelled within 14 days....as has been stated earlier.

[Cyker]

Yes, write like that! That's nice!  

So the thing with the 14 days is it's an FCA rule - This trumps anything that contradicts it in the finance agreement; As I understand it, you would only need to pay for the value the finance agreement was for, plus interest incurred during the period that the finance agreement was active. (This might not be totally correct as I'm not a finance person, but the gist of it is right)

It gets a bit muddier after the 14 days, as the protection of the law ends and you are fully subject to the terms of the finance agreement; I have heard of some of them charging the interest which would have paid if you try to exit early, but it varies by agreement. It sounds like you had one of the better terms in your agreement as you just had to pay up the remaining balance!

[Mojo1010]

No need for abuse, this is a good forum, keep it that way.

The FCA 14 days rule allows no penalty during this period (then finance to settle in full within 30 days of notification). Clawing back deposit contribution means penalty? Do read up on it. Cannot be done in this period. 

After 14 days, varies depending on what the terms are, in Toyota's case they want it back. 

[Jimota]

For those of you who can remember the Scousers comedy clips “Eh! Eh! Alright! Calm Down, Calm Down!” 😉

[SinglePointSafety]

Eh, Eh, are you telling me to calm down???? (I loved that sketch, with their Kevin Keegan perms)

[Jimota]

Sadly, my perm disappeared years ago.  Although, every morning when I look in the mirror there is no need to comb my hair.  That’s because I’m completely bald.  Save a fortune on hairspray and conditioner though.

[Mojo1010]

4 minutes ago, Jimota said:

Sadly, my perm disappeared years ago.  Although, every morning when I look in the mirror there is no need to comb my hair.  That’s because I’m completely bald.  Save a fortune on hairspray and conditioner though.

🙂 You also save on electric and hair dryer too, am starting to thin up a bit on top in the last few years, though still have to use the hair dryer each day to put it into acceptable shape. 

[Jimota]

My wife still thinks I’m still a handsome Adonis.  She collects her new spectacles next week.

[Rhymes with Paris]

Nordic under bridge dweller.

 

[Trg1244]

On 1/21/2023 at 11:51 AM, Cyker said:

They seem to be selling the TPMS sensors for half what Toyota wanted! (~£150 for 4 vs over £70 each!)

You think this is a lot….? I asked my local Suzuki dealer how much sensors would be for my 2016 Swift sport and he said £168. I asked if that was for 4 and he said no, just one….

[Trg1244]

On 1/22/2023 at 1:27 PM, Cyker said:

Yes, write like that! That's nice!  

So the thing with the 14 days is it's an FCA rule - This trumps anything that contradicts it in the finance agreement; As I understand it, you would only need to pay for the value the finance agreement was for, plus interest incurred during the period that the finance agreement was active. (This might not be totally correct as I'm just some knob on the internet and not a finance person, but the gist of it is right)

It gets a bit muddier after the 14 days, as the protection of the law ends and you are fully subject to the terms of the finance agreement; I have heard of some of them charging the interest which would have paid if you try to exit early, but it varies by agreement. It sounds like you had one of the better terms in your agreement as you just had to pay up the remaining balance!

I bought a new car last year, albeit a VW, and took out the manufacturers PCP deal which included manufacturer contribution incentive.

As I didn’t need the car by the time it arrived, because it took over a year to arrive, I settled the finance the next day and sold the car back to the dealer. It never even left their premises, but I was charged a Pound or something for the interest accrued in that one day.

[Cyker]

8 hours ago, Trg1244 said:

You think this is a lot….? I asked my local Suzuki dealer how much sensors would be for my 2016 Swift sport and he said £168. I asked if that was for 4 and he said no, just one….

Flippin' heck is the only response I can give to that!  

I feel slightly better now tho' so thanks  

[Mojo1010]

Just to say jemca refunded the full deposit for my car order. As least they are prompt on this, need much improvement on customer service after an order. 

[Mojo1010]

Only just realised the design spec don't have push button start, really confused as my icon MK3 has it 😳

[JayEssE]

My car has finally arrived at the dealer so what does everyone think. Is it better now to register it from the 1st March? It doesn’t make much difference to me because I’ve got my own number plate but will it make a difference if I eventually sell it?

[pauly69]

to be frank, who cares what anyone thinks? 🙂  do YOU want it now or you want to wait? obvs when you sell it'd be a 72 not a 23 plate and therefore (maybe) some minor valuation penalty.

Ours is also approaching the end of its very long journey (2.5 months from zeebrugge!), we're just going to take it, probably next week.

[JayEssE]

4 hours ago, pauly69 said:

to be frank, who cares what anyone thinks? 🙂  do YOU want it now or you want to wait? obvs when you sell it'd be a 72 not a 23 plate and therefore (maybe) some minor valuation penalty.

Ours is also approaching the end of its very long journey (2.5 months from zeebrugge!), we're just going to take it, probably next week.

To be equally frank, clearly I do 😂, but only from any potential difference in the future value. I’ve actually no idea if it makes any different and just wondered if anyone else knows.

[Graham47]

Ask yourself, would you buy a Feb 72 plate or a Mar 23 plate in, say, 4 years time ?
If “yes” how much extra would you pay ?

I think, by then, overall condition and mileage etc. will far outweigh the plate.

[Mojo1010]

If two are equal in condition and mileage, undoubtedly the 23 plate will get more.

[Rhymes with Paris]

2 hours ago, Graham47 said:

Ask yourself, would you buy a Feb 72 plate or a Mar 23 plate in, say, 4 years time ?
If “yes” how much extra would you pay ?

I think, by then, overall condition and mileage etc. will far outweigh the plate.

Personally, I would go for the one that the dealer could tell me about the previous owner, and how it was looked after and serviced,as well as a fine tooth comb inspection by myself.

But seeing as dealers can't be bothered to do this, and just present a huge list of "features" copied and pasted from a spec sheet,while at the same time expecting maximum profit all ways up, I think I would look for a private sale.

But maybe there aren't any private sales like this anymore, due to all the finance deals available.

But for that knowledge of how the car had been treated,it would be worth around £500 to me over an unknown whether a 72 or 23 plate.