Help With CAP Price Please. Car Going in for Rejection /Buyback

PRESSTOG

Well-known Member
Hi

Would someone who has access Cap Prices be ale to give me a CAP Clean and Retail on the following

Hyundai Kona Electric 64Kw Premium SE Spec Sept 2020 (70 Reg) 20k miles

The manufacturer is taking my car back as the main battery has failed and there is a 6 month plus wait for a replacement battery due to a huge ongoing recall.

I want to wait for it to be repaired and stay in the loan car they are lending me, but they dont want to do that, they just want to buy it back and send me on my way. (This is the manufacturer/Importer) not the dealer that sold it.

They are offering a figure which seems really low considering the high demand for EVs at the moment but insisting its high CPA Price and they are doing me a favor so just want to see what the book really says.

Thans
 

Mark F

Active Member
Have you tried Webuyanycar and Motorway? Personally I’d treat them as a better guide than CAP as the price they give is what they’re (in theory) prepared to transact at. I’d then insist on at least another £2k-£3k to cover the retail mark-up, ie what you’d need to pay to replace like-for-like.

As a further guide, do any dealers have similar spec/age/mileage cars which you could use as a benchmark for price?
 

PRESSTOG

Well-known Member
Have you tried Webuyanycar and Motorway? Personally I’d treat them as a better guide than CAP as the price they give is what they’re (in theory) prepared to transact at. I’d then insist on at least another £2k-£3k to cover the retail mark-up, ie what you’d need to pay to replace like-for-like.

As a further guide, do any dealers have similar spec/age/mileage cars which you could use as a benchmark for price?

Yes as stated the manufacture has offered a low price which they are claiming to be CAP clean value so I just want to check what they are offering is the true cap value

The cap value they are offering is over £2k less than WBAC so I have my concerns they are.lying.

They have sent a full and final offer letter with a crappy price claiming it’s cap so I am building a defence along the lines you mentioned. WBAC motoway and other cars

Similar age and mileage cars are £30 to £31k retail. WBAC was £29 but the manufacture is offering £26900 saying this is a very generous offer

So would leave me well out of pocket when having to buy a replacement car
 

Mark F

Active Member
That’s shocking. How they can offer less than WBAC and Motorway is indefensible. Should be full retail price plus arguably compensation for the grief you’ve had.
 

PRESSTOG

Well-known Member
That’s shocking. How they can offer less than WBAC and Motorway is indefensible. Should be full retail price plus arguably compensation for the grief you’ve had.

I would think they would have to put us back to situation where I could buy the same car same age same mileage, but they think not, there is a big thread about it on a specific EV forum so wont repeat everything here, but basically

Car was Brand New Sept 2020 Cost £38300. 11 Months in (Aug 2021) 20k miles on the clock it blew its traction battery, There is a Recall on the Hyundai Kona for this very issue, but this cars battery was too new for the recall by 4 weeks, despite that it failed

Manufacturer picked car up from Dealership (Hyundai are dealing with all battery issues themselves), took car to its import centre at Tilbury, and delivered us a loan car to use. that was mid Aug,

Straight away they tried to nudge us to the buyback route, lots of hits with oh the battery will take ages, big wait at tilbury, better to take a great offer we can give you.

So the best (only offer) they came up with was £26900, when we dug heels in saying we wanted to wait for our car to be fixed as we didnt feel that was a fair offer, they through out a Final Settlement letter and said if we dont take it they will want the loan car back and we are on our own.,

Looking on Autotrader, the cheapest similar spec car is £30k most are £31 to £33 (EVs have held value well at mo again)

So if we take the offer we are going to have to stump up at least £4k to get back to where were are now, and risk the chance that car could go pop and start the whole merrygoround again

Anyway will stop now, as said I would not waffle as all this is elsewhere

So if anyone can get me the CAP I would really appreciate it.
 

Mark F

Active Member
Further thought, do you have legal cover on your car insurance or house insurance? If you do, may be worth checking if it covers this sort of dispute. Having at least the threat of a a lawyer involved (at no cost to you) often gets things moving in my experience. Also, I wonder if Citizens Advice or Trading Standards could help.

Anyway, I hope you get it sorted.
 

Delvey

Distinguished Member
Further thought, do you have legal cover on your car insurance or house insurance? If you do, may be worth checking if it covers this sort of dispute. Having at least the threat of a a lawyer involved (at no cost to you) often gets things moving in my experience. Also, I wonder if Citizens Advice or Trading Standards could help.

Anyway, I hope you get it sorted.
Great advice.
 

gangzoom

Well-known Member
@PRESSTOG Sounds like an absolute nightmare, given you need your car for work any out come that leaves you without a car even for a short time will be a major pain!

Hope you can get a resolution soon! And good luck with the next car, hopefully it'll be more reliable.
 

dmpzsn

Distinguished Member
If you paid anything towards the purchase/lease of the vehicle on a credit card, you may be able to get them involved.

Otherwise, good luck dealing with them.
 
D

Deleted member 27989

Guest
I’m sorry to hear about the troubles. I’ve used it as a reminder that gap insurance can be useful in more circumstances, and for this situation a back to invoice would have been good.

You may want to check with you car insurance policy as some do include back to invoice gap insurance for the first year.
 

PRESSTOG

Well-known Member
I’m sorry to hear about the troubles. I’ve used it as a reminder that gap insurance can be useful in more circumstances, and for this situation a back to invoice would have been good.

You may want to check with you car insurance policy as some do include back to invoice gap insurance for the first year.

Hi I have back to invoice on the car, but tis no help. The car has not had an accident so there is no payout for the GAP insurer to get involved in.

GAP Dont Cover buyback /Rejection due to a failure of the car.
 

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