YIKES!!!! watching the news

[Scottie]

@ ten tonight.


How many MINI's were in that compound unsold.

On my god things seem to be getting bad.:frown::frown:

[Crombers]

I take it there were lots :sad:

[Big Gordy]

Just think how many there would have been if they hadn't stopped production for the whole of December:eek:
The bubble has well and truly burst for the car industry IMHO:frown:

[Sheilz]

They could try dropping their prices. Cost of a new mini is ridiculous.

[rpn]

Seen the news clip last night. Was a bit of a shock to see all those brand new Minis waiting for owners. :eek:

I'm happily to take one off their hands FOC :D and save them storage charge. ;)

[N12 JLK]

poor souls with no mums and dads to look after them:sad:

[KenL]

They could try dropping their prices. Cost of a new mini is ridiculous.

Agreed.

...but, no they are raising the prices :frown:

[Crombers]

poor souls with no mums and dads to look after them:sad:

You must be near trade in time :rolleyes: ;) :thumbs up:

[Smitty]

Yes - things are bad. But still...twice i've asked at my local dealer down here how business is and both times the salesman said everything was fine and they hadn't seen any change....

RUBBISH!! Prime example of a bull sh*tt*ing cars salesman! :frown: :ragin:

[ELFMAN]

So what was all the stuff about MINIs always being built to Customer Order then? I thought that was the whole point of all the cunning computerised cleverness on the production line with all the different specifications etc. So how can MINI be stockpiling cars with no 'owners'?

[Sheilz]

So what was all the stuff about MINIs always being built to Customer Order then? I thought that was the whole point of all the cunning computerised cleverness on the production line with all the different specifications etc. So how can MINI be stockpiling cars with no 'owners'?


Maybe some of these would be destined for companies that lease them. The sites I've nosied about on tend to offer basic kind of models rather than ones individuals would order to their own spec from places like JC.

[Gismo]

Don't forget cancelled orders to to redundancies etc

[AndyP & Lenore]

Also, I was speaking with a dealer yesterday and they wondered if some of these were en-route to the USA. Just in a holding pen until being taken to the terminal.

A.

[Scottie]

I would imagine the cars that we saw sitting in the compound were for distribution world wide that had been ordered by the garages but not by customers.

If the dealers are struggling to sell the minis they have already got then maybe they have stopped these cars coming to them it would only take a couple of hundred garages around the world to cancel their orders for the cars to start and stock pile.


Still a shock to see the Mini sitting there.

[AndyP & Lenore]

I must admit Fi, I didn't see that news article.

[Mini Me]

Yes - things are bad. But still...twice i've asked at my local dealer down here how business is and both times the salesman said everything was fine and they hadn't seen any change....

RUBBISH!! Prime example of a bull sh*tt*ing cars salesman! :frown: :ragin:

totally agree, and if things were so sweet why is there a dealer asking customers to voluntarily hand back(which has cosiquenses) cars which are in agreements with guatanteed settlement figures, so there's not a chance of negative equity at all , and promise to have them in new cars for march , thats if there quick cos there's no cars to sell :nag::nag: WRONG WRONG WRONG.
And borderline illegal advice........ so poor:frown:

[ELFMAN]

Good points everybody! I wonder how long it'll be before we see MINIS being fairly heavilly discounted despite what the dealers are saying at the moment? Either that or they won't be seeling ANY. Who'd have thought it?

[Crombers]

Good points everybody! I wonder how long it'll be before we see MINIS being fairly heavilly discounted despite what the dealers are saying at the moment? Either that or they won't be seeling ANY. Who'd have thought it?

Tis that bubble about to burst :confused:

[KenL]

Good points everybody! I wonder how long it'll be before we see MINIS being fairly heavilly discounted despite what the dealers are saying at the moment? Either that or they won't be seeling ANY. Who'd have thought it?

MINIs are already being discounted.

Read of MINI2 about people getting 9% off a new stock car. Not pre-reg or anything but new.

[euan]

totally agree, and if things were so sweet why is there a dealer asking customers to voluntarily hand back(which has cosiquenses) cars which are in agreements with guatanteed settlement figures, so there's not a chance of negative equity at all , and promise to have them in new cars for march , thats if there quick cos there's no cars to sell :nag::nag: WRONG WRONG WRONG.
And borderline illegal advice........ so poor:frown:

Can someone explain what the consequences are of handing it back?

[Mini Me]

Can someone explain what the consequences are of handing it back?

it can have implications if you seek finance again, as you may be concidered a bad risk as you handed it back before you had too.:ragin:.
so the finance company lost money by you doing that. Dont get e wrong, it happens all the time, usually the same dealer but you can bet youe ass it aint the same finance company, and a higher rate. :hand:

[AndyP & Lenore]

Broony, just to be clear, are you talking about folk handing their car back BEFORE they are half way through their agreement? Or at the point where they are half way through their agreement? Or handing their car back at the point where they reach the balloon point with a GVF?

A.

[euan]

Certainly, I handed back my old Golf GTi when I was more than halfway through and had to pay a (very slightly) higher rate on the Mini as that was what I'd swapped into.

However, it's a valid option in the legal context of the deal, the finance companies know this and I'm sure there will be a lot of people executing that right in the next year. The finance companies must be s***ting it right now.

[Scottie]

did you see the news tonight showing pictures of the Minis when they were doing the report on Corus.

Talking about Corus owned by tata could this be a sign of them not having the money to put into Landrover = them going down the plug.

[Mini Me]

:knife:
Broony, just to be clear, are you talking about folk handing their car back BEFORE they are half way through their agreement? Or at the point where they are half way through their agreement? Or handing their car back at the point where they reach the balloon point with a GVF?

A.

Andy, it's people handing the car back before the agreement has reached the point of termination , there contacting people who have a baloon and saying hand it back early because its in neg eq , but it's only in neg eq if they do, if you no what i mean... if they continue with the agreement the baloon is guaranteed:sad::sad::sad: so they cant be in negative !!!!!!!:knife:

[Gismo]

:knife:

Andy, it's people handing the car back before the agreement has reached the point of termination , there contacting people who have a baloon and saying hand it back early because its in neg eq , but it's only in neg eq if they do, if you no what i mean... if they continue with the agreement the baloon is guaranteed:sad::sad::sad: so they cant be in negative !!!!!!!:knife:Neg equity commences the minute anything is worth less than the value of the item, be it a house, land or in this case a car.
It has nowt to do with when you hand a car back.
I think Andy is referring to the point where a loan reaches the point where the person paying the loan calls in the agreement where you can simply hand the car back and walk away owing, but owning nothing

[AndyP & Lenore]

:knife:

Andy, it's people handing the car back before the agreement has reached the point of termination , there contacting people who have a baloon and saying hand it back early because its in neg eq , but it's only in neg eq if they do, if you no what i mean... if they continue with the agreement the baloon is guaranteed:sad::sad::sad: so they cant be in negative !!!!!!!:knife:

I see what you mean. So the finance companies or dealers are calling their finance customers and telling them their car is in negative equity so they should hand their car back early, but, by the way, it will cost you £X.XX to bring your account to 50% of the way through the policy. If that's the case, that is naughty naughty.:frown::hand::frown:

Alan, I see what Broony is saying with regards to being in negative equity or not, but you are only affected by that negative equity if you hand back before your stipulated policy end date. If you wait to the policy end date and hand a car back that's worth £5,000 and the GFV is £12,000 - as much as that's £7K of negative equity, it's the finance companies problem.

A.

[euan]

I see what you mean. So the finance companies or dealers are calling their finance customers and telling them their car is in negative equity so they should hand their car back early, but, by the way, it will cost you £X.XX to bring your account to 50% of the way through the policy. If that's the case, that is naughty naughty.:frown::hand::frown:

Alan, I see what Broony is saying with regards to being in negative equity or not, but you are only affected by that negative equity if you hand back before your stipulated policy end date. If you wait to the policy end date and hand a car back that's worth £5,000 and the GFV is £12,000 - as much as that's £7K of negative equity, it's the finance companies problem.

A.

How is that different to handing it back when you've reached the legal point you can hand it back? Can't see the difference myself!