GFV changed?

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ProMo-T3
Posts: 18
Joined: Mon Apr 09, 2018 9:55 pm

Post by ProMo-T3 »

Looking for some info from anyone who's ordered an XC40 more recently, regarding their GFV on a PCP deal.

Our dealer said if we were to order the same car today, we'd pay £75 per month more because the GFV has changed compared to when we did the initial deal in April.

Can anyone shed some light on how true this is. Just out of curiousity. Wondering whether the GFV has gone up or down. Thanks.
B4 Inscription Pro AWD in Glacier Silver with all extra packs 12th Oct 21
Previously had a T3 Momentum Pro in Ice White for 3 years with tinted rears and 19's

Shaenei
Posts: 279
Joined: Thu Mar 29, 2018 5:58 pm
Location: UK

Post by Shaenei »

The offers in April won't be on offer now and I believe the APR has gone up as some dealers have tried to play fast ones and tell people their offer is no longer available
XC40 Crystal White First Edition with T5 engine polestar'ed, lava carpet & 19" Alloys

Ordered: 11th March
Delivered: 19th October
GemBar
Posts: 36
Joined: Sun Jun 03, 2018 5:21 pm

Post by GemBar »

I ordered my XC40 in March at 4.9% and yes the new APR I believe is 5.9% but you have a contract, when I picked my vehicle up in September the dealer gave it to me at the contracted APR and I never had to challenge him once, he even gave me the same trade in value for my V40.

I would challenge the salesman again or ask to speak to the manager, failing that I would speak to Volvo themselves as you have an agreed contract.

A lot of people have had this issue having read most of the threads on this website since March (sad) but you have to be firm

Below is screenshot from March Volvo website showing APR, model not relevant as they where all at this rate. Hope this helps

The New XC40 T3 R-Design available at 4.9% APR Representative over 36 months with £500 deposit contribution and 3 years complementary servicing when financed on Personal Contract Purchase with Volvo Car Financial Services*
*Finance subject to status. Ts & Cs apply. 18s or over. Guarantee may be required. Volvo Car Financial Services RH1 1SR.
XC40 T3 R Design | Winter Pack | Heated Rear Seats & Steering Wheel | Front Parking Sensors | Power Tailgate | Osmium Grey | Ordered Mid March for Delivery June / October / September | Now driving as from 14-09-18
NCRD2806
Posts: 4
Joined: Fri Jun 29, 2018 11:20 am

Post by NCRD2806 »

I think all the previous answers to your question haven't really understood the question fully.

I'm in a similar position. I've been pushing my local dealership on price since March and finally ordered in June. I've been told that my XC40 has arrived at the dealership.

In conversation on the phone a few days aago the salesperson tried to slip in that the GFV has changed while telling me they were going to send me a list of number plates to choose from (bit sneaky to try to distract me like that!).

The car price hasn't changed from what I agreed but it means that the change of the GFV means an increase in my monthly PCP payments of an extra £15 a month so £720 over the length of the 4 year PCP.

Back when I ordered the car they asked for my details for the finance but said they are now missing them and asked me for them again. Might be an honest mistake but it's made me a bit cautious.

I'm off to talk to them today (not picking up the car yet) but I suspect I'm stuck with the new GFV amount. I looked at Halifax and other PCP companies and they had even lower GFV so financing another way doesn't look like a good option and Volvo is currently offering free servicing for 3 years with it's PCP.
Mondiniho
Posts: 23
Joined: Tue Feb 20, 2018 1:40 pm

Post by Mondiniho »

When I picked up my FE in June (ordered in Feb), I was pleasantly surprised to find that my monthly payments had gone down £20.. ostensibly because the GFV had gone up due to demand/supply,
Volvoboy
Posts: 2
Joined: Mon Oct 22, 2018 9:42 pm

Post by Volvoboy »

Hi

Santander only guarantee a residual value for 90 days. If you get a deal approved when you order your car you never lose the offer such as 4.9%apr or a service plan. However if it takes more than 90 days to build the car and CAP who generate GFVS change there market predictions downward then the payment can change. But just because the GFV goes down and the payment might go up it doesn’t mean you are paying more overall. Ie a reduction in GFV of £1000 on a 48 month deal would increase payments by approx £20 but you have paid off £1000 more than you were going to.
Due to the long lead times IF you ordered a car earlier in the year and are affected by the GFV change Volvo have allowed the origional GFV to be used. Santander customer services will switch back to the GFV that was approved at the time. But in my opinion it could be worth paying slightly more to have less to pay at the end of the term and more deposit for a new one...
Shaenei
Posts: 279
Joined: Thu Mar 29, 2018 5:58 pm
Location: UK

Post by Shaenei »

Nothing on my deal changed, spoke to him about out dealers switching stuff around and he said it's not an issue just takes a quick call to the finance company to reinstate the original deal
XC40 Crystal White First Edition with T5 engine polestar'ed, lava carpet & 19" Alloys

Ordered: 11th March
Delivered: 19th October
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