New car advice Seat/Skoda/VW

andrea1983

Hi folks!

been a while since i was here but anyway

planning on a new jammer on pcp in d new year

Options:

Seat Ateca 190bhp, DSG - 4wd, big and dece engine

VW Passat highline with r-line body skirts - Dece big car, but not so powerful and probs a bit pricey for what it is

Octavia VRS estate - big, dece engine, dsg gearbox, roomy, sporty

Leon Cupra estate - Big, powerful, looks dece, fast


Thoughts?
I think i'm leaning towards the ateca or the VRS but i'm just not sure xox

exaisle

Read up on PCP....do you really just want to rent a car?

andrea1983

no but i've bought a house and owe a bit of money, so i'll sell the gtd and get some cash back and have a new car and then i can sell it on in 3 years for like a 5 serious or something

techdiver

I'm always humoured by the misinformation about PCP. For some reason many people have a bee in their bonnet regarding PCP, yet I've yet to see anyone present evidence that PCP is a bad deal for someone wanting to finance a new car at little or no interest. Even if you have cash on hand to finance the full price of the car, you should still go the PCP route as you will gain interest (albeit small) on you savings whilst using a possible 0% PCP to finance the car. It is not renting a car. It is a low interest way of financing a car. If you get a car load are you "renting" the car from the bank?

Once you are in a position to pay the final payment at the end the car is yours. In a 0% finance PCP deal you essentially spread the payment of a new car over 3 years at 0% interest. This is way better than any other form of credit. The only scenario whereby you will lose out is if you surrender the car after the PCP term. Otherwise you have the option of trading in for another model using the equity on the car as a deposit, or pay the final balloon payment. The favourable of those 2 options depends on the value of the car versus the remaining payment outstanding.

andrea1983

Yeah but anyway...I'm kind of stuck with pcp in any event cos i can't afford the cash. So long as i get 0% i'm happy enough. Will be selling the GTD to a mate at the same rate as the garage offer me...

Of those 4 options, which one would people recommend or otherwise!

techdiver

I've an order in for a Octavia RS. I think for the money it's difficult to get anything that ticks so many boxes. It is a perfect family car whilst having some luxury and is fun to drive also.

It holds its value quite well too in comparison to other models, although I wouldn't expect the same value in 3 years time as current 3 year old models have due to higher new car sales recently which means there is going to be a mini flood of 3 year old cars at the end of the current PCP term in 2020.

andrea1983

i agree to an extent tech...the only thing is the VRS has pretty much the same engine as my current GTD....so maybe somehting different would be better...that said, the Ateca, which i'm keen on is also pretty much the same lol. But it's 4wd.

veetwin

andrea1983 wrote: »

Hi folks!

been a while since i was here but anyway

planning on a new jammer on pcp in d new year

Options:

Seat Ateca 190bhp, DSG - 4wd, big and dece engine

VW Passat highline with r-line body skirts - Dece big car, but not so powerful and probs a bit pricey for what it is

Octavia VRS estate - big, dece engine, dsg gearbox, roomy, sporty

Leon Cupra estate - Big, powerful, looks dece, fast


Thoughts?
I think i'm leaning towards the ateca or the VRS but i'm just not sure xox

Of those I'd probably opt for the Ateca. Looks to be a nice package with the right spec.

I think the Passat with the right spec is just too expensive.

The VRS is fine choice but I'd still prefer the Ateca.

I don't think the Cupra deserves to be in this company.

PCP can be a great way to finance a purchase as long as you are fully aware of all of the terms and conditions. It doesn't suit those who do high mileage.

grogi

veetwin wrote: »

Of those I'd probably opt for the Ateca. Looks to be a nice package with the right spec.

I think the Passat with the right spec is just too expensive.

The VRS is fine choice but I'd still prefer the Ateca.

I don't think the Cupra deserves to be in this company

And why would that be? Leon Cupra Estate will not only be the roomiest, but also fastest...

Casati

PCP is fine if you do high mileage too, i.e. the depreciation you suffer is the same regardless if you finance it through the bank, credit union, pcp or pay cash

If you are doing small miles I'd go for the Cupra - where else would you get that sort of power for the money?? Also I know the Alteca is 4wd, but 95% of the time drive will be directed through the front wheels but you are stuck carrying the extra 200kg 100% of the time! Ive heard bad things about the 190ps too- bit more bruff and not much more powerful. The 1.4 Alteca is meant to be peach and won't be far off your GTD

Nonoperational

techdiver wrote: »

I'm always humoured by the misinformation about PCP. For some reason many people have a bee in their bonnet regarding PCP, yet I've yet to see anyone present evidence that PCP is a bad deal for someone wanting to finance a new car at little or no interest. Even if you have cash on hand to finance the full price of the car, you should still go the PCP route as you will gain interest (albeit small) on you savings whilst using a possible 0% PCP to finance the car. It is not renting a car. It is a low interest way of financing a car. If you get a car load are you "renting" the car from the bank?

Once you are in a position to pay the final payment at the end the car is yours. In a 0% finance PCP deal you essentially spread the payment of a new car over 3 years at 0% interest. This is way better than any other form of credit. The only scenario whereby you will lose out is if you surrender the car after the PCP term. Otherwise you have the option of trading in for another model using the equity on the car as a deposit, or pay the final balloon payment. The favourable of those 2 options depends on the value of the car versus the remaining payment outstanding.

Absolutely agree. It's gas. It suits me down to the ground. Can easily afford the repayments and have a guaranteed salary increase for the next few years. Interest miles lower than bank, and don't need to deplete the savings too much to buy the car. At the end of the 3 years I'll prob get another new car, because I like having a new car. I'm still waiting for the downside to be honest.

AMKC

How about buying something totally different say maybe a Toyota C-HR or a Peugeot 3008 te Peugeot 308 GT might be worth a look to.
Out of them cars do if it was me I would have the Peugeot 3008 as it looks fantastic and has a very stylish and classy looking interior has to be one of the best dash,s in a car.

A Renault Scenic could be another option they come with 20in wheels as standard.

Shefwedfan

I dont think all of them offer 0% on PCP...

You do realize that everyone of them is a Volkswagen more or less.....each company is part of VW

I guess when you refer to GTD you are talking about a Golf so really you are looking at the same car again

Why not look at other options.

If Alteca why not Qashqai which is still the best car in that market place? You dont mention if you have any kids etc so could look at Juke either from Nissan

Toyota have the new C-HR and the RAV4 is nice looking....

I think someone mention a Renault, wasting your time with them if comparing to a VW....the new Peugeot 3008 looks like a very nice car, I am waiting for the new 5008 personally

It does depends on what you want car for so maybe a bit more info

Mantis Toboggan

You highlight Quasqui as the market leader then downplay Renault?? Do you realise that the Renault Kadjer is the same as the Quasqui?

Don't believe the stereotype.

anewme

All nice cars in themselves, but, not as nice as a GTD.

Going from a Golf GTD to a Quasquai or a Kadjar is a downgrade.

Cupra would be hard enough on insurance I reckon- they are a serious car to drive. VRS estate is nice, not finished as well as GTD.

If you are looking at estate, SEAT Leon FR estate is a nice looking car and well speccd for the price.

Shefwedfan

Tyson Fury wrote: »

You highlight Quasqui as the market leader then downplay Renault?? Do you realise that the Renault Kadjer is the same as the Quasqui?

Don't believe the stereotype.

First it is Qashqai

Second the Kadjar and Qashqai have similar components I do agree but to say they are the same is completely incorrect.

I was also referring to the Scenic which was mentioned in post above. I would not recommend these at all.....

bazz26

Shefwedfan wrote: »

First it is Qashqai

Second the Kadjar and Qashqai have similar components I do agree but to say they are the same is completely incorrect.

I was also referring to the Scenic which was mentioned in post above. I would not recommend these at all.....

The Qashqai and Kadjar other than styling differences are essentially the same car. Same chassis, same engines, same gearboxes, even a lot of the interior switchgear down to electric window switches, dashboard buttons, etc are shared. The Qashqai and Kadjar have as much in common with each other as a Skoda Octavia, Seat Leon, VW Golf and Audi A3 would have with each other.

maddness

Get the Leon Cupra. I had a good drive in the Cupra hatch and it was great, fast and a lovely chassis. If you can afford a 290bhp petrol why would you even consider the others?

ShadowHearth

anewme wrote: »

All nice cars in themselves, but, not as nice as a GTD.

Going from a Golf GTD to a Quasquai or a Kadjar is a downgrade.

Cupra would be hard enough on insurance I reckon- they are a serious car to drive. VRS estate is nice, not finished as well as GTD.

If you are looking at estate, SEAT Leon FR estate is a nice looking car and well speccd for the price.

Funny enough i did some quoting when still wanted to go brand new seat. Insurance is a mysterious entity.

Seat ibiza cupra 192hp petrol: 1000eu
Seat lean cupra 290hp petrol: 1200eu
Seat loan fr 184hp diesel: 1450eu

Go figure.

Upgrading from GTD to vrs or leon fr does not make much sense. You get pretty much same car, but with lower build quality.

Leon cupra on the other hand woukd be something really nice and feel like upgrade. And all new petrols, even high powered ones have really decent mpg now. Sure, not as good diesel, but I would be willing to pay that little bit extra per tank just not to be stuck in diesel and have smooth high power petrol engine.

anewme

ShadowHearth wrote: »

Funny enough i did some quoting when still wanted to go brand new seat. Insurance is a mysterious entity.

Seat ibiza cupra 192hp petrol: 1000eu
Seat lean cupra 290hp petrol: 1200eu
Seat loan fr 184hp diesel: 1450eu

Go figure.

Upgrading from GTD to vrs or leon fr does not make much sense. You get pretty much same car, but with lower build quality.

Leon cupra on the other hand woukd be something really nice and feel like upgrade. And all new petrols, even high powered ones have really decent mpg now. Sure, not as good diesel, but I would be willing to pay that little bit extra per tank just not to be stuck in diesel and have smooth high power petrol engine.

Cupra is very similar inside to FR or VRS.

It's a beautiful car to drive- still not as well finished as GTD.

They are all lovely cars- would you also maybe look at GTE?

maddness

If you already haven't driven the Cupra, have a drive in one. If you drive a Golf GTD you will find it a huge step up in performance.

anewme

maddness wrote: »

If you already haven't driven the Cupra, have a drive in one. If you drive a Golf GTD you will find it a huge step up in performance.

In performance, yes, but as an all rounder, the GTD is a better buy.

As they are giving you the buyback on PCP, you will be fine.

andrea1983

Many thanks for all the advice. An unfortunate incident in the car park in work, whereby a colleague came in to tell me he had scrathced my car has halted my ambitions somewhat

See i went out in the paddy clarke to have a goosey and shone the torch on the jammer, there was a scratch on the bumper, but nothing really too bad and sure its 5 years old so i didn't think it fair to chase him for the cost (he's off to Sudan tomorrow doing aid work). Then i had a goosey the next day and the panel between the rear wheel and rear door on the drivers side has a deep scratch :mad: Also the door is slightly scratched but will probs buff out. Yer man was drving into a space and obviosuly just scraped it. The guy in the vw garage (where i was looking at a passat) said it'd knock 500-1000 off the trade in, which is a bit heavy imo, but anyway, Ithink i might just stick with the GTD which is fine mechanically until it has a few more scrapes and scratches and get rid at 200k. I'm probably a bit silly but hey ho.

BTW I do about 35k miles per year so i'd say that takes the cupra out of the reckoning. I'd actually love a Focus RS or ST, but i just can't afford it

GavMan

andrea1983 wrote: »

Many thanks for all the advice. An unfortunate incident in the car park in work, whereby a colleague came in to tell me he had scrathced my car has halted my ambitions somewhat

See i went out in the paddy clarke to have a goosey and shone the torch on the jammer, there was a scratch on the bumper, but nothing really too bad and sure its 5 years old so i didn't think it fair to chase him for the cost (he's off to Sudan tomorrow doing aid work). Then i had a goosey the next day and the panel between the rear wheel and rear door on the drivers side has a deep scratch :mad: Also the door is slightly scratched but will probs buff out. Yer man was drving into a space and obviosuly just scraped it. The guy in the vw garage (where i was looking at a passat) said it'd knock 500-1000 off the trade in, which is a bit heavy imo, but anyway, Ithink i might just stick with the GTD which is fine mechanically until it has a few more scrapes and scratches and get rid at 200k. I'm probably a bit silly but hey ho.

BTW I do about 35k miles per year so i'd say that takes the cupra out of the reckoning. I'd actually love a Focus RS or ST, but i just can't afford it

You're being very generous to your colleague. I'd shoot him an email for his insurance policy number and make a claim against him unless he wants to pay cash for the repair.

Do not swallow their mistake

Casati

GavMan wrote: »

You're being very generous to your colleague. I'd shoot him an email for his insurance policy number and make a claim against him unless he wants to pay cash for the repair.

Do not swallow their mistake

Agreed, I'd get a quote to fix it up and let me know it was more than you expected.

If you like the Focus, they are doing an S line with 2.0 150bhp for retail around 28k, but it available on 0% pcp too

andrea1983

Casati wrote: »

Agreed, I'd get a quote to fix it up and let me know it was more than you expected.

If you like the Focus, they are doing an S line with 2.0 150bhp for retail around 28k, but it available on 0% pcp too

It's not that bad like, (some other person must have walloped the passenger door in the car park a while back too...there's a dent consistent with a door being opened into it there as well). If it had been 2 years ago I would have followed up, now, i'm less concerned.

Would have no interest in S line...don't like the idea of cars that are kind of done up to look like something they're not.

What i might do is hang onto the golf and treat myself to a small convertible like and mx 5 or somehtign for around 2-3k tbh.

TheBigEvil

techdiver wrote: »

I'm always humoured by the misinformation about PCP. For some reason many people have a bee in their bonnet regarding PCP, yet I've yet to see anyone present evidence that PCP is a bad deal for someone wanting to finance a new car at little or no interest. Even if you have cash on hand to finance the full price of the car, you should still go the PCP route as you will gain interest (albeit small) on you savings whilst using a possible 0% PCP to finance the car. It is not renting a car. It is a low interest way of financing a car. If you get a car load are you "renting" the car from the bank?

Once you are in a position to pay the final payment at the end the car is yours. In a 0% finance PCP deal you essentially spread the payment of a new car over 3 years at 0% interest. This is way better than any other form of credit. The only scenario whereby you will lose out is if you surrender the car after the PCP term. Otherwise you have the option of trading in for another model using the equity on the car as a deposit, or pay the final balloon payment. The favourable of those 2 options depends on the value of the car versus the remaining payment outstanding.

Agree regarding a low way of financing the car when at 0% interest. However, the term "equity" is misleading. that GMFV is purely the financial value owed on the car, and not an actual valuation. And in the majority of cases, there is no "equity" left in the car, and even if there is it is very small. So if you do want to go-again on another PCP deal, you have to stump up that deposit yourself, as its not in the car you have financed. This catches a lot of people out, they think this "just trade it in option" means they hand over the keys and sit into a nice new car at the same repayment level. Not so, unless you have handed over the same deposit you gave the last time around.

techdiver

TheBigEvil wrote: »

Agree regarding a low way of financing the car when at 0% interest. However, the term "equity" is misleading. that GMFV is purely the financial value owed on the car, and not an actual valuation. And in the majority of cases, there is no "equity" left in the car, and even if there is it is very small. So if you do want to go-again on another PCP deal, you have to stump up that deposit yourself, as its not in the car you have financed. This catches a lot of people out, they think this "just trade it in option" means they hand over the keys and sit into a nice new car at the same repayment level. Not so, unless you have handed over the same deposit you gave the last time around.

What I meant is exactly what you have stated. The "equity" is the trade in allowance - gfmv. Once you are aware of this there should be no issues.

Where I am coming from is the people comparing PCP to bubble time mortgage deals. They are completely different and carry significantly less risk for both parties.

EDIT: I do agree that some are caught out by the GFMV. Even dealers I spoke to stated that, "you can use that as the deposit on the next car", until I corrected them and the exact specificity of it. The problem is dealers don't care about the financial side of it. They just want the sale. As with all large financial transactions, make sure you do your homework and don't take the word of a third party as gospel.

ChewyLuey

Interesting PCP info here, thanks.
Can you guys give an exact definition of GMFV in that case? Is it a guaranteed value of the car at the end of the term subject to some conditions (max mileage, service, condition etc) or is it just the amount owing on the car at the end of the term in which case the "guaranteed" is a bit misleading?

If the GMFV isn't really "guaranteed" at all does it mean the glut of 15x and 16x vehicles on the road will lead to collapsing final values in 18x? Or do i misunderstand ?

ChewyLuey

Thanks for clarifying. That sounds fair to me. Stay with in the terms of the agreement and the value is guaranteed. That's assuming it plays out that way in practice and dealers aren't looking for unreasonable ways to reduce the GMFV.

coleslaw

ChewyLuey wrote: »

Thanks for clarifying. That sounds fair to me. Stay with in the terms of the agreement and the value is guaranteed. That's assuming it plays out that way in practice and dealers aren't looking for unreasonable ways to reduce the GMFV.

yes

Jakey Rolling

ChewyLuey wrote:

is it just the amount owing on the car at the end of the term in which case the "guaranteed" is a bit misleading?

Yes, the "guaranteed" is misleading. It is what you owe them, should you wish to own the car in full at the end of the PCP term. Similarly if you want to trade it in as deposit for a new PCP. They may value the car at less than the GMFV, but you still owe them that " guaranteed" amount. Future market value as you say may be affected by high mileage, and number of ex PCP vehicles flooding the market.

OSI wrote:

if you wish to walk away from the agreement, they will take the car in lieu of the final payment even if in actual market value it's not worth that much.

Anyone would need to be mad to walk away after 3 years having paid typically two thirds of the cars value through a deposit and 36 months repayments, then be left with nothing to show for it.

Jakey Rolling

OSI wrote:

they will take the car in lieu of the final payment even if in actual market value it's not worth that much.

No, this is where they will apply the penalty for high mileage, at a punitive rate as stipulated in your PCP contract.

Why would they take a car that is only worth say 5k off you as settlement when you owe them a GMFV ( deferred credit really) of 10k?

bidiots

Guaranteed Minimum Future Value = Balloon Payment
That's the way to think of it

Jakey Rolling

OSI wrote: »

Did you miss the bit where I said as long as you stay within the terms of the agreement? If you hand back the car at the end of the agreement, it is in reasonable condition and within the mileage requirements, they cannot penalise you.

Apologies, I did indeed skim over the part about staying within the terms (mileage).

However the mileage allowances I've been offered are so low that my granny driving twice a week into town would have trouble keeping below the mileage! Tell them you expect high mileage and they will push you to borrow more of the capital up front = higher monthly payments, lower GMFV. It becomes closer to a regular HP finance agreement, which is no bad thing so far as it makes the buyer more aware of the real cost of ownership, instead of putting 30% of the purchase value on the long finger.

Anyhow probably a bit OT, presumably there's a thread somewhere on the merits or otherwise of PCP.