sipar69 Posted September 13, 2011 Share Posted September 13, 2011 I got my Z on one of these - Paid a deposit, pay monthly for a set period (three years in my case) and then decide whether to give the car back, pay the balance, or part exchange for a new one (the most likely option for me). The one thing I can't seem to find out, even from Nissan Customer Services (sigh....) is whether I am tied to the original three year period before I trade-in for a new one, or could I decide after two years to trade in and have the agreement adjusted accordingly. I'm very happy with the current car for now, but it would good to know if I have the option of an earlier trade-in if something comes up in future (by "something" it will most probably be a different 370Z!). I know a few Nissan dealers visit this site (tried mine, but not much help) so grateful if anyone knows the answer... Quote Link to comment Share on other sites More sharing options...
M13KYF Posted September 13, 2011 Share Posted September 13, 2011 may be worth pm'ing EH370. He is a Nissan salesman Quote Link to comment Share on other sites More sharing options...
EH 370z Posted September 13, 2011 Share Posted September 13, 2011 Hello The T&Cs of your agreement are exactly the same as an HP agreement. So, If you decide 24c months in to your 36 month agreement that you want to change your 370Z to an X-Trail or a Kia, or what ever, you can do so. You would go about it exactly as if it was an HP agreement, i.e. call up for a settlement figure and off set against the value of the current vehicle (the Zed) Next time please purchase from a person who knows what they are doing (ish!) Any other question please just call me or PM Quote Link to comment Share on other sites More sharing options...
EH 370z Posted September 13, 2011 Share Posted September 13, 2011 may be worth pm'ing EH370. He is a Nissan salesman Salesman!? I am far more important than that Quote Link to comment Share on other sites More sharing options...
speedwell Posted September 13, 2011 Share Posted September 13, 2011 There is always a way of terminating any car finance agreement early,although not necessarily a good thing cost-wise. Have you not read the smallprint on the back of your finance agreement? This should tell you what you need to know. Quote Link to comment Share on other sites More sharing options...
sipar69 Posted September 13, 2011 Author Share Posted September 13, 2011 Hello The T&Cs of your agreement are exactly the same as an HP agreement. So, If you decide 24c months in to your 36 month agreement that you want to change your 370Z to an X-Trail or a Kia, or what ever, you can do so. You would go about it exactly as if it was an HP agreement, i.e. call up for a settlement figure and off set against the value of the current vehicle (the Zed) Next time please purchase from a person who knows what they are doing (ish!) Any other question please just call me or PM Spiffing advice old chap! Can't see me wanting to give up the current Z early but it helps to know I've got the option (if they come up with a colour I like better than the white!) Quote Link to comment Share on other sites More sharing options...
ioneabee Posted September 13, 2011 Share Posted September 13, 2011 Hello The T&Cs of your agreement are exactly the same as an HP agreement. So, If you decide 24c months in to your 36 month agreement that you want to change your 370Z to an X-Trail or a Kia, or what ever, you can do so. You would go about it exactly as if it was an HP agreement, i.e. call up for a settlement figure and off set against the value of the current vehicle (the Zed) Next time please purchase from a person who knows what they are doing (ish!) Any other question please just call me or PM I going up on thursday to finalise the finance - presumably if you end early (and pay it off) = less interest charges ? Quote Link to comment Share on other sites More sharing options...
rabbitstew Posted September 13, 2011 Share Posted September 13, 2011 Hello The T&Cs of your agreement are exactly the same as an HP agreement. So, If you decide 24c months in to your 36 month agreement that you want to change your 370Z to an X-Trail or a Kia, or what ever, you can do so. You would go about it exactly as if it was an HP agreement, i.e. call up for a settlement figure and off set against the value of the current vehicle (the Zed) Next time please purchase from a person who knows what they are doing (ish!) Any other question please just call me or PM I going up on thursday to finalise the finance - presumably if you end early (and pay it off) = less interest charges ? And on the other hand, usually an "early repayment penalty fee" added to it also. Depending on the loan agreement, sometimes you can get around this by overpaying a lump sum so you are left only owing a few quid on the loan, then when your next monthly payment clears the loan its classed as the loan ending of its own cause, rather than you clearing it early. Depends on the company however. Quote Link to comment Share on other sites More sharing options...
ioneabee Posted September 13, 2011 Share Posted September 13, 2011 Hello The T&Cs of your agreement are exactly the same as an HP agreement. So, If you decide 24c months in to your 36 month agreement that you want to change your 370Z to an X-Trail or a Kia, or what ever, you can do so. You would go about it exactly as if it was an HP agreement, i.e. call up for a settlement figure and off set against the value of the current vehicle (the Zed) Next time please purchase from a person who knows what they are doing (ish!) Any other question please just call me or PM I going up on thursday to finalise the finance - presumably if you end early (and pay it off) = less interest charges ? And on the other hand, usually an "early repayment penalty fee" added to it also. Depending on the loan agreement, sometimes you can get around this by overpaying a lump sum so you are left only owing a few quid on the loan, then when your next monthly payment clears the loan its classed as the loan ending of its own cause, rather than you clearing it early. Depends on the company however. I was aware of the early repayment fee, but hadn't thought about an overpayment ......... interesting idea - I'll ask Quote Link to comment Share on other sites More sharing options...
M13KYF Posted September 13, 2011 Share Posted September 13, 2011 may be worth pm'ing EH370. He is a Nissan salesman Salesman!? I am far more important than that Quote Link to comment Share on other sites More sharing options...
EH 370z Posted September 13, 2011 Share Posted September 13, 2011 Hello The T&Cs of your agreement are exactly the same as an HP agreement. So, If you decide 24c months in to your 36 month agreement that you want to change your 370Z to an X-Trail or a Kia, or what ever, you can do so. You would go about it exactly as if it was an HP agreement, i.e. call up for a settlement figure and off set against the value of the current vehicle (the Zed) Next time please purchase from a person who knows what they are doing (ish!) Any other question please just call me or PM I going up on thursday to finalise the finance - presumably if you end early (and pay it off) = less interest charges ? Yes and no. The theory is that you are not charged for the interest you don't use. However this not quite right. The finance companys use a thing called the rule of 42. I once asked to see the calculation for this and it was about three A4 pages long! The long and the short if it is, as already mentioned, you will get a rebait of interest for early term. But it's not easy to calculate how much. With car car financing it is quite un common to be charged more than the outstanding amount as a penalty as such Quote Link to comment Share on other sites More sharing options...
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