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How did PCP work out in the end?

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Comments

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    #752
    ustari
    Registered Users Posts: 504 ✭✭✭ustari


    hooch-85 wrote: »
    Cool, so it can be done then. Just noticed that avantcard/an post are offering 5.9% on loans of €20k and over, I am currently locked into a HP with 4 years remaining. I would save over a grand in interest or €26 a month on my repayments if I could switch. Not massive numbers but every little helps as they say. I plan on keeping the car long term so have no interest trading in any time soon so thought this might be an option.

    I saw that offer on AnPost site too.

    However, you only see the actual rate you get when you go to draw down. After submitting all your details, bank statements etc.

    In reality, they were offering my 10.1% or so. More than 4% more than what they had led with. When I went back and looked closer at the site it did say "as low as" and "starting from" etc. Very misleading though I felt to only see the actual rate when you are that close to drawing down.


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    #753
    hooch-85
    Registered Users Posts: 1,886 ✭✭✭hooch-85


    ustari wrote: »
    I saw that offer on AnPost site too.

    However, you only see the actual rate you get when you go to draw down. After submitting all your details, bank statements etc.

    In reality, they were offering my 10.1% or so. More than 4% more than what they had led with. When I went back and looked closer at the site it did say "as low as" and "starting from" etc. Very misleading though I felt to only see the actual rate when you are that close to drawing down.

    That's madness and extremely misleading. Thanks for saving me the hassle of applying so.


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    #754
    ustari
    Registered Users Posts: 504 ✭✭✭ustari


    hooch-85 wrote: »
    That's madness and extremely misleading. Thanks for saving me the hassle of applying so.

    You may get a different/better rate. They just said that was what I was offered and that was that.


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    #755
    battser
    Registered Users Posts: 711 ✭✭✭battser


    Is the Audi 2.9% PCP offer on at the moment a good one when it comes to PCP options?


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    #756
    Lantus
    Registered Users Posts: 3,027 ✭✭✭Lantus


    battser wrote: »
    Is the Audi 2.9% PCP offer on at the moment a good one when it comes to PCP options?


    Given ecb rates are. 25pc lending and -. 5pc deposit you would think they would be lower!! As with all things risk plays a part. Still pretty low.


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    #757
    mickdw
    Registered Users Posts: 23,334 ✭✭✭✭mickdw


    Avantcard do give the headline rate - i got it on an amount slightly over 20k last sept.
    Covid may have adjusted their thinking since as it was unsecured also.


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    #758
    adam88
    Registered Users Posts: 1,608 ✭✭✭adam88


    Interested Observer wrote: »
    I'm about halfway through my PCP on an Octavia. I think we'll just try and pay the balance at the end and keep the car. Does anyone know is it possible to buy an extended warranty at the end of a PCP deal if you keep the car?

    I’m not sure. I had an Octavia that went tits up 7/8 months outside my warranty. I was on Octavia number three from the same garage and they came to some arrangement with skoda head office that the car would be sorted. Needless to say that gesture got them repeat business


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    #759
    DaveyDave
    Registered Users Posts: 6,229 ✭✭✭DaveyDave


    Tried calling VWFS and their phone lines close at 3:30, they also close for lunch. Website says they're open until 5:30! It's been a week and they didn't call me back, PCP is up in two weeks...


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    #760
    CoBo55
    Registered Users Posts: 8,969 ✭✭✭CoBo55


    DaveyDave wrote: »
    Tried calling VWFS and their phone lines close at 3:30, they also close for lunch. Website says they're open until 5:30! It's been a week and they didn't call me back, PCP is up in two weeks...

    Did you try emailing them? With many working from home it could be faster.


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    #761
    Rusky rusky
    Registered Users Posts: 941 ✭✭✭Rusky rusky


    DaveyDave wrote: »
    Tried calling VWFS and their phone lines close at 3:30, they also close for lunch. Website says they're open until 5:30! It's been a week and they didn't call me back, PCP is up in two weeks...

    You need to click contact us and then online requests. There’s a list of contract queries. It’s possible to get through to them on the phone but it took me a number of days/attempts in August.


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    #762
    DaveyDave
    Registered Users Posts: 6,229 ✭✭✭DaveyDave


    Yeah I submit via the contact form on the website. I'll call them again tomorrow. They want proof of PPS, address etc so want to get it sorted.

    At least when the payment bounces and they call the next day I'll have a good excuse!


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    #763
    CoBo55
    Registered Users Posts: 8,969 ✭✭✭CoBo55


    DaveyDave wrote: »
    Yeah I submit via the contact form on the website. I'll call them again tomorrow. They want proof of PPS, address etc so want to get it sorted.

    At least when the payment bounces and they call the next day I'll have a good excuse!

    What are you wanting to do?


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    #764
    DaveyDave
    Registered Users Posts: 6,229 ✭✭✭DaveyDave


    CoBo55 wrote: »
    What are you wanting to do?

    Refinance the balloon payment. I spoke to them last week, gave my PPS and reg and they were supposed to call me with the new figures.


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    #765
    CoBo55
    Registered Users Posts: 8,969 ✭✭✭CoBo55


    DaveyDave wrote: »
    Refinance the balloon payment. I spoke to them last week, gave my PPS and reg and they were supposed to call me with the new figures.

    Ok. That's stressful alright. Did you try contacting the garage you bought it from, you might have more luck if their finance man gets involved.


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    #766
    CIP4
    Registered Users Posts: 4,657 ✭✭✭CIP4


    DaveyDave wrote: »
    Tried calling VWFS and their phone lines close at 3:30, they also close for lunch. Website says they're open until 5:30! It's been a week and they didn't call me back, PCP is up in two weeks...

    From a recent experience with them your only chance is to ring them early as I was on hold from 2.00pm to 3.30pm and they never answered. Rang them early and was still waiting a good 20 minutes to get through but eventually did. They must be severely understaffed with them waiting times worst I ever experience closing for lunch and finishing at 3.30pm everyday is a complete joke.


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    #767
    CoBo55
    Registered Users Posts: 8,969 ✭✭✭CoBo55


    CIP4 wrote: »
    From a recent experience with them your only chance is to ring them early as I was on hold from 2.00pm to 3.30pm and they never answered. Rang them early and was still waiting a good 20 minutes to get through but eventually did. They must be severely understaffed with them waiting times worst I ever experience closing for lunch and finishing at 3.30pm everyday is a complete joke.

    Well, they are a bank...


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    #768
    DaveyDave
    Registered Users Posts: 6,229 ✭✭✭DaveyDave


    CoBo55 wrote: »
    Ok. That's stressful alright. Did you try contacting the garage you bought it from, you might have more luck if their finance man gets involved.

    Spoke to the dealer on the 25th of September when dropping in for a service, salesman said he'd tell their finance guy.

    Called them last week to follow up and they told me VWFS deal with it and I was expecting the call from them and now I'm here!


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    #769
    hooch-85
    Registered Users Posts: 1,886 ✭✭✭hooch-85


    DaveyDave wrote: »
    Spoke to the dealer on the 25th of September when dropping in for a service, salesman said he'd tell their finance guy.

    Called them last week to follow up and they told me VWFS deal with it and I was expecting the call from them and now I'm here!

    Do you mind me asking if you are refinancing the balloon through VWFS? Keen to see what kind of interest rates they would offer.


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    #770
    DaveyDave
    Registered Users Posts: 6,229 ✭✭✭DaveyDave


    hooch-85 wrote: »
    Do you mind me asking if you are refinancing the balloon through VWFS? Keen to see what kind of interest rates they would offer.

    It's 5.9% with VW, not sure what rates they have for the other brands though.


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    #771
    adam88
    Registered Users Posts: 1,608 ✭✭✭adam88


    DaveyDave wrote: »
    It's 5.9% with VW, not sure what rates they have for the other brands though.

    Try your credit union. Many of the larger ones have loans specifically tailored to pcp balloons


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    #772
    CoBo55
    Registered Users Posts: 8,969 ✭✭✭CoBo55


    adam88 wrote: »
    Try your credit union. Many of the larger ones have loans specifically tailored to pcp balloons

    Much higher interest rate with the cu. You'd be better to stay with VW bank if you want you use them in the future.


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    #773
    hooch-85
    Registered Users Posts: 1,886 ✭✭✭hooch-85


    DaveyDave wrote: »
    It's 5.9% with VW, not sure what rates they have for the other brands though.

    5.9% is better than most banks. Good to know.


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    #774
    adam88
    Registered Users Posts: 1,608 ✭✭✭adam88


    CoBo55 wrote: »
    Much higher interest rate with the cu. You'd be better to stay with VW bank if you want you use them in the future.

    There’s on industrial credit union ive family in 4.9 percent with very good terms.


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    #775
    CoBo55
    Registered Users Posts: 8,969 ✭✭✭CoBo55


    adam88 wrote: »
    There’s on industrial credit union ive family in 4.9 percent with very good terms.

    Sorry I don't understand your post.


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    #776
    adam88
    Registered Users Posts: 1,608 ✭✭✭adam88


    CoBo55 wrote: »
    Sorry I don't understand your post.

    If your part of an industrial credit union like the guards or something. Their rates are very favourable. Plus there’s a lot more wiggle room with the credit unions if something unexpected pops up


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    #777
    L-M
    Registered Users Posts: 23,694 ✭✭✭✭L-M


    Careful with the credit union they usually advertise an IIR rate which basically excludes fees. Banks advertise APR which includes fees.


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    #778
    CoBo55
    Registered Users Posts: 8,969 ✭✭✭CoBo55


    L-M wrote: »
    Careful with the credit union they usually advertise an IIR rate which basically excludes fees. Banks advertise APR which includes fees.

    I've never paid fees with the cu.


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    #779
    L-M
    Registered Users Posts: 23,694 ✭✭✭✭L-M


    CoBo55 wrote: »
    I've never paid fees with the cu.

    All CUs are different to be fair.


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    #780
    mickdw
    Registered Users Posts: 23,334 ✭✭✭✭mickdw


    L-M wrote: »
    All CUs are different to be fair.

    Our local one charges crippling interest. So much for being a people bank.
    If you also account for the requirement to tie up savings, its extorsion.


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    #781
    Top Dog
    Registered Users Posts: 4,169 ✭✭✭Top Dog


    mickdw wrote: »
    Our local one charges crippling interest. So much for being a people bank.
    If you also account for the requirement to tie up savings, its extorsion.
    An Post are doing better rates than our local CU


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