How did PCP work out in the end?

CoBo55

CoBo55 wrote: »

That’s very good, what engine is that? The 1.5 TSI manual? Is the spec good in the R line?

Yeah I thought so too!
1.5 TSI 130bhp, I was interested in the eTSI but the finance on it is 4.9%!!!
The spec is grand, my current one has more on it tbh. No reverse camera or keyless as standard on the new R Line. Instead of lumping R Line on top of the ranger topper like they used to it seems that it’s Style trim VS R Line for this model.

adam88

[Deleted User] wrote: »

Yeah I thought so too!
1.5 TSI 130bhp, I was interested in the eTSI but the finance on it is 4.9%!!!
The spec is grand, my current one has more on it tbh. No reverse camera or keyless as standard on the new R Line. Instead of lumping R Line on top of the ranger topper like they used to it seems that it’s Style trim VS R Line for this model.

When I changed my car I lost the keyless entry. It had my head wrecked. I’d try to keep that or spec it out so that you’d have that and the camera.

adam88

adam88 wrote: »

When I changed my car I lost the keyless entry. It had my head wrecked. I’d try to keep that or spec it out so that you’d have that and the camera.

Yeah dya know the keyless wouldn’t bother me to be honest but I’m not going without the camera. Might be hard to lose the sunroof too tho! At least the new one comes with Apple car play so it has the nav through that. Will go back before contract is up and see what I’ll do then.

Casati

[Deleted User] wrote: »

Yeah dya know the keyless wouldn’t bother me to be honest but I’m not going without the camera. Might be hard to lose the sunroof too tho! At least the new one comes with Apple car play so it has the nav through that. Will go back before contract is up and see what I’ll do then.

Presumably if that’s a factory order you can get keyless and a camera as extras? Sounds like a very decent trade-in they are offering

CoBo55

[Deleted User] wrote: »

Yeah I thought so too!
1.5 TSI 130bhp, I was interested in the eTSI but the finance on it is 4.9%!!!
The spec is grand, my current one has more on it tbh. No reverse camera or keyless as standard on the new R Line. Instead of lumping R Line on top of the ranger topper like they used to it seems that it’s Style trim VS R Line for this model.

I've never had a car with keyless tbh and the last car I had had the camera, it was more interesting to the passengers than me as coming from vans and buses I never used it.

Casati

CoBo55 wrote: »

I've never had a car with keyless tbh and the last car I had had the camera, it was more interesting to the passengers than me as coming from vans and buses I never used it.

Camera is great if you have a trailer, I miss not having it for that reason but keyless although nice is a security risk so I’d be happy enough not having it again

CoBo55

Casati wrote: »

Camera is great if you have a trailer, I miss not having it for that reason but keyless although nice is a security risk so I’d be happy enough not having it again

Never had a tow hitch either:D

26000 Elephants

howwatermelon wrote: »

So went to VW garage this week.
Bought a 2016 VW Golf in 2018

Price: €23,950
Deposit: €5765
Monthly: €340
GFV: €7692
Interest 1.9%

Was offered €16000 for it so just over 8k in equity which isn’t too shabby.

Is that €8,300 in equity net of the €5765 deposit you brought in or is it part of it?

mickdw

26000 Elephants wrote: »

Is that €8,300 in equity net of the €5765 deposit you brought in or is it part of it?

From the figures he gave, he is getting his initial deposit back plus circa 2.5k which is a top result coming out of any pcp.

26000 Elephants

mickdw wrote: »

From the figures he gave, he is getting his initial deposit back plus circa 2.5k which is a top result coming out of any pcp.

He paid in €12,200, so is it not reasonable to expect *at least* 2500?

Buddy Bubs

26000 Elephants wrote: »

He paid in €12,200, so is it not reasonable to expect *at least* 2500?

His net cost for depreciation was about 9500 for 3 years between years 2 and 5 so thats decent enough in my book.

Casati

Buddy Bubs wrote: »

His net cost for depreciation was about 9500 for 3 years between years 2 and 5 so thats decent enough in my book.

Is depreciation not 8k? He paid 24k and is getting 16k trade in

Buddy Bubs

Casati wrote: »

Is depreciation not 8k? He paid 24k and is getting 16k trade in

Paid 5765 plus (36×340) which is 18,005
Has 8000 plus now

OK, so depreciation plus interest I suppose I should have said was 9,500

Buddy Bubs

Casati wrote: »

Is depreciation not 8k? He paid 24k and is getting 16k trade in

Paid 5765 plus (36×340) which is 18,005
Has 8000 plus now

OK, so depreciation plus interest I suppose I should have said was 9,500

Depreciation works out at around 33% from purchase price between years 2 and 5 but that’s better than the 34% over years 1 and 2.
I’m basically coming out with about 2.5k more on the deposit I put in so essentially I made money and I jumped 8 years from what I traded in.
So yeah, plan is to go back shortly and see about ordering a factory model, spec the wheels and camera and see what happens but if delays are much worse now I’ll have to wait and see about getting a new one for 22. Maybe a nice used one will come up in the mean time but who knows!

Buddy Bubs

[Deleted User] wrote: »

Depreciation works out at around 33% from purchase price between years 2 and 5 but that’s better than the 34% over years 1 and 2.
I’m basically coming out with about 2.5k more on the deposit I put in so essentially I made money and I jumped 8 years from what I traded in.
So yeah, plan is to go back shortly and see about ordering a factory model, spec the wheels and camera and see what happens but if delays are much worse now I’ll have to wait and see about getting a new one for 22. Maybe a nice used one will come up in the mean time but who knows!

I agree you did well on the overall cost, vw golf are a great proposition but I disagree on the part where you said you made money. It cost you 12k in payments to turn your 6k deposit to 8k.

Buddy Bubs

Buddy Bubs wrote: »

I agree you did well on the overall cost, vw golf are a great proposition but I disagree on the part where you said you made money. It cost you 12k in payments to turn your 6k deposit to 8k.

Well that’s is true but I did well out of this deal thankfully and it’s given me no trouble. Still have a cracker motor at the end of it.
Prices on the used ones now are kind of crazy though, really seeing the effects of Brexit on the market I guess.

Buddy Bubs

[Deleted User] wrote: »

Well that’s is true but I did well out of this deal thankfully and it’s given me no trouble. Still have a cracker motor at the end of it.
Prices on the used ones now are kind of crazy though, really seeing the effects of Brexit on the market I guess.

Yeah market looks a bit distorted at the moment. Might be a bubble, might be the new normal, who knows.
I don't necessarily believe it's a bad thing though, depreciation for cars anywhere near new has been far too high over the years. I just hope Joe Motorist is getting good deals on trade ins also.

Kagawa

My 3 year PCP deal with VW is due to expire next March. I plan on keeping the car, does anyone have a recommendation as what way to go. Would I better be off to refinance the final balloon payment with VW bank, it's E16K, I would assume I will still get a better interest rate than with any bank? I might also like to put some cash into it myself to reduce the new amount I need to refinance, I assume that this is possible too?

I did think about entering another PCP deal but there doesn't seem to be much value there, the list price of the car I have has gone up about 6k from 3 years ago. I think its' too early to go electric too, so I'm thinking it's a better to wait it out and see what happens over the next 3-5 years.

JoeA3

Yeah VW will refinance it for you if you wanted, the rate would be higher than your PCP was but probably lower than any of the banks. 4.9 or 5.9% I would say. Yes you could of course offset some of it with your own cash if you wanted.

is_that_so

JoeA3 wrote: »

Yeah VW will refinance it for you if you wanted, the rate would be higher than your PCP was but probably lower than any of the banks. 4.9 or 5.9% I would say. Yes you could of course offset some of it with your own cash if you wanted.

Credit unions too will take it on, seems to be about 5.9% there.

Darc19

Amazing how the doom and gloom of the media yet again do not come true.

Doom and gloom - tens of thousands home repossessions

Doom and gloom - tens of thousands of PCP car purchasers will get a shock at trade in

Wildly Boaring

is_that_so wrote: »

Credit unions too will take it on, seems to be about 5.9% there.

The local CU is in fact 5.9%
CU are very flexible.
Throwing a few euro against the capital is no bother to them.
But if VW do 4.9 a percent is 160 a year....

photosmart

Hi all


I think this is the real story on cars from the past three years - inflation or price appreciation has been shocking. Basic cars ie Golfs Octavias etc have gone up from about 24k odd to 30k odd.



Makes changing car an expensive proposition








I did think about entering another PCP deal but there doesn't seem to be much value there, the list price of the car I have has gone up about 6k from 3 years ago. I think its' too early to go electric too, so I'm thinking it's a better to wait it out and see what happens over the next 3-5 years.[/QUOTE]

InspectorFun

I'm currently on my second PCP deal with a Skoda. Just gone into year 3, it was due to expire next February. I have decided to change early again. Did the same last time. Didn't regret the decision at all.
Cars have gone well up in price though. 4 or 5 grand dearer for the same car, mad really.

Due to family expansion I've decide to go for a seven seat Tarraco. Wasn't cheap but I've worked out the cost and I always approach it as if I'm planning on keeping the car. You definitely need to plan for that possibility.
I've again maxed out the deposit so low monthly payments, keep saving money so I can access that if I need it and then worst case scenario is pay off the gmfv or finance that amount through a credit union.

PCP isn't for everyone but I've found it great.

A2LUE42

Same as what is being said here. New version is considerably more expensive than the 182 Seat sitting in the driveway with less than 50k kilometres on it. So going to pay it off in August and keep it longer. Had also considered switching to a Cuppa, but only if spec we wanted was available, which it isn't, it seems.

Wildly Boaring

Second hand prices are strong for now anyway.
This should take some sting out of trade in.

Small wonder the Greens get in and we get a nice VRT hike.

I'm not on PCP right now.
Thinking of going again in January, ID3.
Need the boss to move from diesel card to car allowance!!!

followmeup

Has anybody here rolled into another PCP deal this year? if so, did you get a good price for your trade in?
I'm just gone two years into my current PCP deal, thinking about changing later in the year, car prices seem to be strong at the moment. Currently driving an Octavia, but like the look of the new Leon estate.

Was looking at cars yesterday, not seriously as won't be changing for a while. Salesman gave me his card so I could contact him down the road if I wanted to sell them my yoke when I do change.
Seemed more interested in getting mine than me buying off them.
Stock must be hard to come by.

CoBo55

followmeup wrote: »

Has anybody here rolled into another PCP deal this year? if so, did you get a good price for your trade in?
I'm just gone two years into my current PCP deal, thinking about changing later in the year, car prices seem to be strong at the moment. Currently driving an Octavia, but like the look of the new Leon estate.

I agree the Leon estate looks nice but I think it would be a step down in comfort and quality compared to the Octavia especially the new model. Our trade in may be good but the price of new cars has taken a big jump too. 0% finance deals seem to be scarce enough too.