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spitfire
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spitfire is offline
Warwickshire
Joined: Jul 2012
Posts: 29,878
spitfire is male  spitfire has posted at least 25 times and has been a member for 3 months or more 
 
22-01-2021, 03:55 PM
1

Free Motoring

Not sure if I posted this before but if I did it was years ago.

Back in the early 1990s, an Employee discount was really that, a 25% discount across the whole range regardless of model or trim level and, the employee (or eligible relative) also benefitted from any promotional deal that applied to retail.
A particular good deal was in 1995, the vehicle (ball park) was £20,000.00 retail, the discount took the cost down to £15,000.00, positive equity of £1500.00 from the trade in bought the purchase cost to £13,500.00. on top of that was a retail registration bonus of £3000.00, and free insurance, the monthly payment on the car was £300.00, and you were obligated to keep the car for 9 months hence 9 X £300.00 = £2700.00, this was paid for by the £3000.00 cash back. At nine months, the residual balance on the car (£13,500.00 minus the £2700.00 in payments plus the interest) was around £11,500.00, the trade in allowance on the car @ 9 months old was £14,500.00, so, there was £2500.00 equity to put on the next car or withdraw as cash.
This was sustained for 7 years over two cars every nine months, when changing, the model, colour, trim level did not matter you chased “The Deal”, then the manufacturer started to tighten up, discount of 25% across the range was stopped and averaged 15-20% dependant on model, no retail incentives applied, still, who can moan about 15 new car freebies (and equity generators in some instances).
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Percy Vere
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Percy Vere is offline
Wilds and woolly wastes of Staffordshire, UK
Joined: Dec 2019
Posts: 4,792
Percy Vere is male  Percy Vere has posted at least 25 times and has been a member for 3 months or more 
 
22-01-2021, 04:01 PM
2

Re: Free Motoring

Working in the tyre industry I used to get 25% staff discount on tyres.
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Meg
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Worcestershire
Joined: Aug 2009
Posts: 42,850
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22-01-2021, 05:21 PM
3

Re: Free Motoring

All right for some Spitty
 

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