Discussion in 'Cars, Bikes 'n AFVs' started by dreadfully_dull, Mar 22, 2010.
The heart of the site is the forum area, including:
has anyone ahd experiance of these buy back deals? how do they work or am i being teribily thick
They're quite simple really. The dealer agrees to pay a stated amount for your car (usually after 12 months) so long as you don't go over an agreed milage (usually about 11,000) and that your car is not damaged etc.
Speak to Wayne at Griffin Tax Free - we have had all our cars from him and not one issue for 5 years now.
I concur, I've been with Wayne and Griffin for 7 years and not had one drama.
cheers guys - when I read about these I thought it was one of those "too good to be true" type deals and thought they would be some twist that i wasn't seeing.
Is Griffen the only compant that do these type deals sure I heard somewhere you could go to BMW direct.
Most tax-free dealers will offer a buy back price. I seem to recall BMW (at Sennelager NAAFI MAX) were offering a particularly good deal on 520d Tourings not long back.
It is not a case of many dealers being able to offer buy back deals at all.
How it works is you buy a car that has gad value retention for example.
You buy a BMW for Â£20,000 that is actually worth Â£25,000 due to your tax free status. A year later the dealers book price for the car is Â£20,000, what you paid in the first place so you simply hand the car back and take a new on our not if you chose, so long as you fulfill the criteria, no damage, belew the stated millage and so on.
Most cars are not in this position as they wont hold there value sufficiantly and will be worth less a year later than what you paid for it.
As a general rule you have to be in the market for a fairly epensive car in the first place.
Standby for lots of people stating "my car is on that deal" please note I did say as a general rule.
As I recall, even fords were available on buy back deals last time I was in Germany. On some expensive brands, buy back would have meant you were giving away money!
The truth is that buy back is used for the vehicles that are popular in the UK, but limited supplies cannot fill the market sufficiently. For example, the Ford S-Max was on buy back and this was subject to condition and less than 12000 miles on the clock. Other vehicles where buy back is offered includes those at the very top end of the executive range. However be sure to get something in writing as companies can change their minds half way through the year.
Again, Griffin has never let me down...................
Separate names with a comma.