Am I being stung?

never_mind

Hi there

been having back and forth with a dealership about a VW polo that I like to do on PCP. He has gotten the deposit down by 400 and knocked 1000 off the original price. Feel that this is something fishy going on... This is the 'new' offer I got below. Is this a good deal or should I fight for more off the deposit and final payment? He has been coming back a lot which has gotten me suspicious...

His email --

The Figures we agreed upon were based off a €1100 euro discount off the vehicle and a €2900 Deposit plus your own car Valued at €2000 you had a monthly repayment of €156 Per month

Today I spoke to the sales manager again after a meeting he had and he asked me to give you a shout again to see if you would still be interested in going ahead with the Polo. He has offered a €1500 Discount off the car and with a lesser deposit of €2500 plus your own car your new monthly repayments are €146.49.

I have attached a PDF of the quotation for you to have a look at. You should be aware that this PCP agreement is at 3.9% APR and the Balance is €5,994.

The first payment in the quotation includes a Documentation Fee of €75 Euro and the final payment you can see has another €75 added to it should you wish to pay off the agreement at the end via direct debit on Month 37 of the agreement.

Also on the quote you will see how little the cost of credit is with a very low interest amount of €823.64 over the course of 3 years.


Thanks

dashoonage

PCP. Yup.

never_mind

dashoonage wrote: »

PCP. Yup.

Definitely a bit weary.... can I ask why you think it's a bad move?

Doddles88

Is this for a 2018 Polo i.e. the new model or for the old model?

never_mind

Doddles88 wrote: »

Is this for a 2018 Polo i.e. the new model or for the old model?

Will be registered as the 181 but it is the old model. I told them that I'm aware of this and want the deposit put down to 1800 and the final cost down by another grand... I'm as cheeky lol.

But they fact that they are coming back a lot would encourage me. What do ye think? I don't mind doing PCP if the deposit and bubble payment at the end isn't mad.

Riskymove

never_mind wrote: »

Definitely a bit weary.... can I ask why you think it's a bad move?

you are only buying around 66% of the car

at the end of three years you still owe around €6000

so you have to make further decisions then

bazz26

You need to do the maths and total up what the entire PCP package is costing you including interest, not just one or two aspects of it in the shape of deposit or monthly payments. Dealers and manufacturers are very good at masking figures to make them look attractive to buyers. Don't be afraid to play dealers off each other either to get the best price.

If your buying the old model Polo then I'd expect a very good deal. Just remember though with PCP that buying a now obsolete model will have a bearing on the equity you will have in the car at the end of the current PCP deal, if you decide to go for another PCP deal.

never_mind

bazz26 wrote: »

You need to do the maths and total up what the entire PCP package is costing you including interest, not just one or two aspects of it in the shape of deposit or monthly payments. Dealers and manufacturers are very good at masking figures to make them look attractive to buyers. Don't be afraid to play dealers off each other either to get the best price.

If your buying the old model Polo then I'd expect a very good deal. Just remember though with PCP that buying a now obsolete model will have a bearing on the equity you will have in the car at the end of the current PCP deal, if you decide to go for another PCP deal.

I knew this at the time. I'm gonna try and get him down to 1800 + 2000 for my car and 1000 off the final bubble payment. Think I'm mad to even ask?

Toyotafanboi

dashoonage wrote: »

PCP. Yup.

To he fair if you go into PCP with your eyes open you should be absolutely fine. These standard "PCP" is a scam posts are nothing but rubbish.

Looking at the figures,

€2500 cash and your trade in valued at €2000 = a deposit for all intents and purposes of €4500.

€146 x 36 months is €5256

The final payment is €5994.

That works out at €15,750. To me that seems cheap, even for a low/ mid spec outgoing model. I don't know what they cost when they were the current model but the cheapest low spec new model is €17,500, so theres €1750ish off the car, or nearly 10% off the price of the new model to take an old model.

The deal gets a bit worse if you plan on financing the final payment as you probably won't get APR as low as 3.9 again and that will eat into your €1750 saving pretty rapidly.

That said if you don't care about things too deeply. €2500 cash up front, and €146 monthly are nice manageable figures to get into a new car for a few years but if you want to keep it at the end of the three years and keep your monthly repayments the same, you'd be another 4x years paying €146 a month before you own the car.

never_mind

Toyotafanboi wrote: »

To he fair if you go into PCP with your eyes open you should be absolutely fine. These standard "PCP" is a scam posts are nothing but rubbish.

Looking at the figures,

.

Thanks!! I've gone back any way with my offer. LOL. I'll see what he says.

I think I might go for it but will let ye know the story.

DaveyDave

As much as I love my Golf part of me wishes I got a Polo or something similar just because paying less than €150 a month for a car is so little :pac:

Lantus

On the one hand the new polo is awesome but an older model at serious discount is also good. What trim level is it and engine? Any other extras?

Overall seems very cheap on a monthly basis. Assuming this is affordable I would put away 100 a month in a savings account providing 3600 at the end of the 3 year deal. If I wanted to buy the car I would only need a 2400 loan to pay off the remainder. At 250 a month that is just 12 months longer to be debt free. At least for a little while. 😉

never_mind

Lantus wrote: »

On the one hand the new polo is awesome but an older model at serious discount is also good. What trim level is it and engine? Any other extras?

Overall seems very cheap on a monthly basis. Assuming this is affordable I would put away 100 a month in a savings account providing 3600 at the end of the 3 year deal. If I wanted to buy the car I would only need a 2400 loan to pay off the remainder. At 250 a month that is just 12 months longer to be debt free. At least for a little while. ��

Thanks... this topic is really making me want to go for it!! It's the 1.0 60 M5F TL v6 polo. It'll be registered as 181. EEk!

I went back with my crazy offer so I'll see what he says and take it form there

colm_mcm

That would be a Trendline (base model) so. I’m guessing there’s no free tech pack or whatever with it.

never_mind

colm_mcm wrote: »

That would be a Trendline (base model) so. I’m guessing there’s no free tech pack or whatever with it.

What would that involve and what's a base model?

bazz26

Base model is the cheapest entry level spec model of the range. They tend to have minimum toys or gadgets as standard. If you want more toys you usually have to buy the next trim/spec model which usually costs more.

The tech or technology packs were gadgets or extra equipment that VW added to certain models for free or small money in order to boost sales. They normally did this leading up to the new registration change twice a year. For example for 161 the technology pack might have included automatic headlights, sat nav, cruise control, etc which would normally cost over €1000 but VW were giving it for €161 (to match the 161 registration) due to the bad press VW were getting for the dieselgate scandal. The tech packs are not as good value these days as VW have weathered the storm on the dieselgate scandal now and they are still good sellers here.

Even a base Trendline old model Polo were decently equipped for the class, it would still have alloy wheels, bluetooth, touchscreen stereo and air con as standard.

Doddles88

The base model is the lowest spec version of the car. Does the one you are being offered have alloy wheels or the tech pack mentioned above?
Don't know your finances, but built a new model polo on the Volkswagen website there and its coming out at 17,294 (without metallic paint, with tech pack which includes 15" alloy wheels, Multifunctioning steering wheel, Fog light, Floor mats & Driver alert systems). This is 185 per month assuming 30% deposit. I wouldn't put down 30% though. Could get those numbers down further obviously should you begin to haggle. Just seems like the one you are being offered atm as well as being the old model, is also poorly specced if indeed it has no tech pack and no alloys.
But of course you may not care at all about the spec of a car and just want to keep monthly outgoing as small as possible:)

never_mind

Doddles88 wrote: »

The base model is the lowest spec version of the car. Does the one you are being offered have alloy wheels or the tech pack mentioned above?
Don't know your finances, but built a new model polo on the Volkswagen website there and its coming out at 17,294 (without metallic paint, with tech pack which includes 15" alloy wheels, Multifunctioning steering wheel, Fog light, Floor mats & Driver alert systems). This is 185 per month assuming 30% deposit. I wouldn't put down 30% though. Could get those numbers down further obviously should you begin to haggle. Just seems like the one you are being offered atm as well as being the old model, is also poorly specced if indeed it has no tech pack and no alloys.
But of course you may not care at all about the spec of a car and just want to keep monthly outgoing as small as possible:)

Not a major car person to be honest so the tech pack wouldn't bother me. I like my cruise control though that I have on my current Polo. ALl I really want is bluetooth so I can listen to spotify and answer calls on long journeys. I can get away with anything else.





I also don't even know what alloys are so lol.

commited

OP, I'd investigate what deal they will do on the newer Polo if you want to keep it long term - looks like a far better car.

never_mind

commited wrote: »

OP, I'd investigate what deal they will do on the newer Polo if you want to keep it long term - looks like a far better car.

Good thinking...

kerten

never_mind wrote: »

Good thinking...

Logical move would be querying this with another vw dealer independent from current deal.

DaveyDave

Just looked at the new Polo, 1.0 65hp Trendline is €16,795. Doesn't seem too far off the before discount price of the old model, if I was you I'd see what kind of price you'd get on that one also. You'd need to spend €460 on cruise control though (absolutely necessary if you currently use it) but it doesn't have air conditioning. Not sure if the old model has it either though.

Cruise control isn't on the tech pack, and dealer models usually just have the tech pack on them and not much else so you might have to order one and you'd be waiting 8-12 weeks?

Toyotafanboi

16,795 for a new model doesn't include delivery charges or metallic does it?

never_mind

K the garage got back to me - there's no movement on the car so think I'm going to go for it...

colm_mcm

Have you looked at any other cars in that class?
What would worry me slightly is the Polo United spec they did in 2009 before the new model came out, they didn't hold anywhere near as much value as the new model (the one you're looking at 8 years later). The old model won't be worth nearly as much in 3 years time, which could be a real pain if you're in a PCP deal and want to go again. You want to have equity in the trade in beyond the GMFV figure. Granted the new model is more expensive.