Speak EV - Electric Car Forums banner
521 - 540 of 805 Posts

·
Registered
Joined
·
59 Posts
I ordered a 2 on the exact same day. Delivery at time of order was quoted as late August/early September. A few weeks later updated to early August and subsequently put back to "very early September". Would have been nice to have it this week as we are off to Cornwall in a few days and I'm not convinced the jalopy is going to make it there and back - electronic handbrake has started doing funny things in addition to the general decreptitude.
My dealer recently moved the arrival date to them by about 2 weeks :mad:. They won't have it until the week commencing 5th September.
 

·
Registered
Joined
·
411 Posts
My dealer recently moved the arrival date to them by about 2 weeks :mad:. They won't have it until the week commencing 5th September.
Not really the dealers fault TBH. There's nothing they can do to influence the build, shipping and logistics timelines. I'd take it as a positive that they actually informed you in a timely manner.
 

·
Registered
Joined
·
59 Posts
Not really the dealers fault TBH. There's nothing they can do to influence the build, shipping and logistics timelines. I'd take it as a positive that they actually informed you in a timely manner.
I do agree they are at the mercy of others. I wasnt intending to be negative about the dealer but rather just frustrated....
 

·
Registered
Joined
·
13 Posts
Just back from test driving the 2 (I've ordered the 3) and after driving it, I'm very happy with it :)
I was originally told the beginning of September but the update today was that it was in transit on the ship and will probably be beginning of October now. Not too bothered about the extra month.
 

·
Registered
Joined
·
59 Posts
Just back from test driving the 2 (I've ordered the 3) and after driving it, I'm very happy with it :)
I was originally told the beginning of September but the update today was that it was in transit on the ship and will probably be beginning of October now. Not too bothered about the extra month.
Many thanks for letting us know you were happy, reassuring (y)
 

·
Registered
Joined
·
565 Posts
I was originally told the beginning of September but the update today was that it was in transit on the ship and will probably be beginning of October now. Not too bothered about the extra month.
It will be in transit in the end of next week for sure, so start of October is entirely plausible.

Pity it is a little delayed, but still not long to wait.
 

·
Registered
Joined
·
9 Posts
Confirmation my original PCP quote is up in smoke and I have to take the new rate… however they have discounted the car to make up most of the shortfall.

Offering me the car for £33,500 2 spec with metallic), monthlies are £8 more than before… GFV is lower than original quote also by about £500

Glad that it worked out well for you at the end.

I just went through my emails after learning of your case and realised I haven't received any breakdown of my pcp in writing, at the time of order, either.

So nervous now!

Will contact the dealer first thing tomorrow :S
 

·
Registered
Joined
·
565 Posts
I just went through my emails after learning of your case and realised I haven't received any breakdown of my pcp in writing, at the time of order, either.
I wonder if there is something in their process that results in no copy on the day, as I also realised that I didn't have a copy of the PCP paperwork a few days after I placed the order.

The dealer emailed it over on request, so it wasn't a problem, hopefully the same for you...
 

·
Registered
Joined
·
607 Posts
Confirmation my original PCP quote is up in smoke and I have to take the new rate… however they have discounted the car to make up most of the shortfall.

Offering me the car for £33,500 2 spec with metallic), monthlies are £8 more than before… GFV is lower than original quote also by about £500
I would be interested to know what Kia are now quoting for the GFV? When I bought my current First Edition I seem to recall for a car that then cost about £33.5k it was something like £14.5k after three years. However, the current selling price is anything from £26k north of £30+k for a car that is three years old. Covid and Ukraine etc have clearly had an impact but it always seemed to me that the figure for GFV was too low at the time.
 

·
Registered
Joined
·
565 Posts
I would be interested to know what Kia are now quoting for the GFV? When I bought my current First Edition I seem to recall for a car that then cost about £33.5k it was something like £14.5k after three years. However, the current selling price is anything from £26k north of £30+k for a car that is three years old. Covid and Ukraine etc have clearly had an impact but it always seemed to me that the figure for GFV was too low at the time.
This is for a base '2' with nothing added...

Font Parallel Number Rectangle


For comparison, this is a fully loaded '4' with heat-pump metallic paint and contrasting 'C' pillar...

Font Parallel Number Rectangle
 

·
Registered
Joined
·
98 Posts
Discussion Starter · #534 ·
They have lowered the GFV well on my like for like re quote on the new PCP rate they have by about £500 compared to May.

£19700 (3yrs 8k 2 spec)

Somehow they’ve managed to give me another £1500 odd off the (old) list price to balance the numbers.
 

·
Registered
Joined
·
565 Posts
Kia do seem to like to set a low GFV as it increases the equity in the car and makes it easier to sell a replacement PCP plan at the end of the 3 year period...

Also in fairness, HMRC have put a lot of pressure on the car industry over the last 4 years or so, to reduce the GFV to the point where the majority of contracts should result in there being equity remaining so there is an incentive to actually make the final payment.

The HMRC concern was that many PCP deals were in effect disguised contract hire deals as the GFV was set at an artificially high level to the extent that there was no serious probability that the customer would want to retain the vehicle.
 

·
Registered
Joined
·
607 Posts
This is for a base '2' with nothing added...

View attachment 165123

For comparison, this is a fully loaded '4' with heat-pump metallic paint and contrasting 'C' pillar...

View attachment 165124
Thanks really helpful - I guess I could have been less lazy and looked on the Kia website! I guess dealers will play around with the figures if they need to. However, still looks to me it will probably be worth paying the balloon payment in three years and then selling / part exchanging. I can’t see supply v demand / inflation leading to the quoted residual values in three years time.
 

·
Registered
Joined
·
565 Posts
I can’t see supply v demand / inflation leading to the quoted residual values in three years time.
... which is generally how it should be for a PCP deal, that was the HMRC concern, if the PCP deal isn't leaving the customer with positive equity at the end then it is a pseudo-lease...

The real question is always how much equity... as that directly impacts on the monthly cost, so it is a balancing act as always, especially with Kia refusing to do 4 year PCP deals...

... but they are not the only source of finance of course.
 

·
Registered
Joined
·
607 Posts
... which is generally how it should be for a PCP deal, that was the HMRC concern, if the PCP deal isn't leaving the customer with positive equity at the end then it is a pseudo-lease...

The real question is always how much equity... as that directly impacts on the monthly cost, so it is a balancing act as always, especially with Kia refusing to do 4 year PCP deals...

... but they are not the only source of finance of course.
Indeed - I have only used pcps in the past to secure a big discount then request a settlement price and pay it off sometimes using a loan. This time the cost to exchange means a pcp is not a sensible route versus a loan / using savings. But we all have different circumstances….
 

·
Registered
Joined
·
411 Posts
Glad that it worked out well for you at the end.

I just went through my emails after learning of your case and realised I haven't received any breakdown of my pcp in writing, at the time of order, either.

So nervous now!

Will contact the dealer first thing tomorrow :S
Did you sign any finance paperwork when you ordered?
I didn't - dealer just said "Oh we can sort all that out later" and I didn't really think much of it at the time. Also nervous now but at least I had it confirmed in an email to me a few weeks ago...
 
521 - 540 of 805 Posts
Top