How did PCP work out in the end?

SteelyDanJalapeno

CoBo55 wrote: »

Not bad at all. Are you getting a home charger put in how much will that cost? Will it actually do 400km?

I actually didn't ask and nothing was mentioned, I'll ask Monday, gonna take one for a spin.

Doubt it will do 400k, would be happy with 300k thou, it's more then I need

L-M

@CoBo55 the problem might actually be getting a car, stock is very limited. It might be worth enquiring to see if a car can actually be got before getting too hooked on the Idea

Casati

L-M wrote: »

@CoBo55 the problem might actually be getting a car, stock is very limited. It might be worth enquiring to see if a car can actually be got before getting too hooked on the Idea

Skoda show their full current stock online now, don’t know if at other make does this but it’s a great feature. You can see all details in cars available inc extras fitted etc

https://stock-cars.skoda-auto.com/941/en-IE/?step=filters&ModelFamily=NS_2021

Seem to have a fair few Kodiaqs

CoBo55

L-M wrote: »

@CoBo55 the problem might actually be getting a car, stock is very limited. It might be worth enquiring to see if a car can actually be got before getting too hooked on the Idea

Very true. I had a look at Karoq's in stock but there are no sportline models available. This may sound completely ridiculous but one of the main reasons I'm going for the sportline is to get a decent colour, the ones available are a sea of silver's and varying shades of grey. I'm sick to the back teeth of looking at bloody silver and grey cars.

youcancallmeal

Casati wrote: »

Skoda show their full current stock online now, don’t know if at other make does this but it’s a great feature. You can see all details in cars available inc extras fitted etc

https://stock-cars.skoda-auto.com/941/en-IE/?step=filters&ModelFamily=NS_2021

Seem to have a fair few Kodiaqs

Vast majority of which are diesel which is interesting. Demand dropping for diesels perhaps

advertsfox

CoBo55 wrote: »

Very true. I had a look at Karoq's in stock but there are no sportline models available. This may sound completely ridiculous but one of the main reasons I'm going for the sportline is to get a decent colour, the ones available are a sea of silver's and varying shades of grey. I'm sick to the back teeth of looking at bloody silver and grey cars.

You can still get great colours with the non Sportline. My current Karoq is the Style (for the leather seats) and fancied a family friendly Quartz Grey over my previous Candy White but the Lava Blue / Velvet Red colours are lovely too for an extra €700 / €1149 new. You won't see a lot of these used I'd imagine.

The only Sportline colour that's exclusive is Race Blue.

https://www.skoda.ie/_doc/9b52e099-970a-47ed-b9d0-1d2685b1c511

CoBo55

advertsfox wrote: »

You can still get great colours with the non Sportline. My current Karoq is the Style (for the leather seats) and fancied a family friendly Quartz Grey over my previous Candy White but the Lava Blue / Velvet Red colours are lovely too for an extra €700 / €1149 new. You won't see a lot of these used I'd imagine.

The only Sportline colour that's exclusive is Race Blue.

https://www.skoda.ie/_doc/9b52e099-970a-47ed-b9d0-1d2685b1c511

They're actually quite nice in the white, probably no harder to keep clean than my black car. There was a lovely race blue Octavia style in the dealer I bought my car from but when I rang it had been sold that morning. First buyer lost his job and pulled out of the deal, second buyer was turned down for finance. I'd say many are being refused finance.

CoBo55

Sorry to be wrecking your heads I know I'm wrecking my own but I'm still being drawn to the Leon phev it's great value for money and brilliant spec, it gets very good reviews. Maybe they'd have some off the shelf they don't seem to have a "what's in stock" section on the site like Skoda have. Time would be short in deciding on one as the 5k grant is being halved at the end of June.

L-M

Casati wrote: »

Skoda show their full current stock online now, don’t know if at other make does this but it’s a great feature. You can see all details in cars available inc extras fitted etc

https://stock-cars.skoda-auto.com/941/en-IE/?step=filters&ModelFamily=NS_2021

Seem to have a fair few Kodiaqs

I cleared the filters and it’s only showing 300’odd cars in stock. That’s wrong surely, definitely doesn’t include pipeline cars

Casati

L-M wrote: »

I cleared the filters and it’s only showing 300’odd cars in stock. That’s wrong surely, definitely doesn’t include pipeline cars

Maybe it’s wrong but a dealer told me that it shows every car in stock that’s available to be bought. It would not include anything not manufactured or in transit or customer specific orders as far as I know

L-M

Sounds like a good way to clear aged stock to me lol

CoBo55

L-M wrote: »

Sounds like a good way to clear aged stock to me lol

The one car I enquired about was a failed purchase (twice)

theknightbg

Here is how it worked for me
I snatched a Seat Leon 2021, FR 1.5 TSI 150 ex demo with few options on top (larger LCD, Wrap around lights, LED auto beams, Midnight Blue color)
Kms on Dash were under 1700km.
Overall price: 27500
Trade in 1250 eur - Kia Ceed 08
Deposit: 5000
75 eur one time fee
36x 281 eur @ 2.9% PCP
Final Payment of 12250

I love the Leon, it is great, but I am planning to switch to a bigger car at the end of the period.
Skoda Karoq here I come... maybe.

ShadowHearth

theknightbg wrote: »

Here is how it worked for me
I snatched a Seat Leon 2021, FR 1.5 TSI 150 ex demo with few options on top (larger LCD, Wrap around lights, LED auto beams, Midnight Blue color)
Kms on Dash were under 1700km.
Overall price: 27500
Trade in 1250 eur - Kia Ceed 08
Deposit: 5000
75 eur one time fee
36x 281 eur @ 2.9% PCP
Final Payment of 12250

I love the Leon, it is great, but I am planning to switch to a bigger car at the end of the period.
Skoda Karoq here I come... maybe.

I presume that's the new model? How much bigger car you need? I found new Leon after test drive to be big car. The space for rear passengers was very generous.

theknightbg

ShadowHearth wrote: »

I presume that's the new model? How much bigger car you need? I found new Leon after test drive to be big car. The space for rear passengers was very generous.

It is the new model and you are right is is very big for being a hatchback. Me and the missus are planning an expansion of the family in the next few years so I think an SUV style would suit better. An Ateca or Karoq. PCP on VW cars is a pretty sweet deal.

Leon is overall an amazing car but if you are getting an FR. Get the high spec engine with DCC. The normal suspension of FR is a bit of a harder ride for the small irish roads.

ShadowHearth

theknightbg wrote: »

It is the new model and you are right is is very big for being a hatchback. Me and the missus are planning an expansion of the family in the next few years so I think an SUV style would suit better. An Ateca or Karoq. PCP on VW cars is a pretty sweet deal.

Leon is overall an amazing car but if you are getting an FR. Get the high spec engine with DCC. The normal suspension of FR is a bit of a harder ride for the small irish roads.

That is kind of funny. My biggest complain about new Leon was how hard it is, even with DCC on comfort setting and pretty much all my life i drove cars with sporty suspensions!
One thing for sure, I was really impressed how much space it had.

All in all I wish happy driving and you got a decent deal there.

Poncke

Hi, looking for some advice on a Toyota PCP. I think I understand how it works. I just have one question, what if the 3 years are up and I want to return the car? I cannot find anywhere if they actually pay me back anything? I know I can use the remaining value of the car for a new PCP cycle. But what if I don't want to keep it or get a new car. Surely after paying a total of 24K for the car, I get some money back? Or do I have to return the car and get nothing back. So I have paid 24K to drive a car for 3 years, and the dealer puts the car up for sale as a second hand car for 25K. I am ready to be educated.

CoBo55

https://www.boards.ie/discussion/comment/120711620#Comment_120711620

At 6.9% don't buy a Toyota.

DaveyDave

https://www.boards.ie/discussion/comment/120711620#Comment_120711620

You get nothing if you hand the car back. Ideally you'd sell the car privately, clear the finance and enjoy a profit from the balance. A car worth €37k new is probably worth €20-25k after 3 years.

Worth noting €16,795 is a fairly high final payment so if you sold the car privately or for example were trading in for another one you'd have less left over for yourself.

The final payment on both of the cars I've had on PCP was around 38-40% of the value leaving me a healthy equity for rolling into a new PCP or private sale.

mickdw

So you will have paid for the entire car at end of year 3 except for the amount of 16795 which is the amount to complete your ownership if you wish to pay it.

So your options are to buy it for 16795 or

Trade it in and use any value over 16795 as equity or

Hand it back. If you hand it back you walk away with nothing.

In the event that you didn't want to trade in or buy it out, best advice would be to buy it out anyway and sell it on the open market.

Poncke

Thanks for the clarifications, I understand now. Still find it hard to swallow that handing the car back leaves you with nothing. Thats madness, forcing you to either buy it or trade it in.

CoBo55

https://www.boards.ie/discussion/comment/120712227#Comment_120712227

What's the final payment on your Cupra? I'm thinking strongly of getting one rolling over my PCP from the Superb, using the online calculator the settlement figure is very high in excess of 20k. At 20k it wouldn't leave you much especially if I wanted to trade early.

Markcheese

https://www.boards.ie/discussion/comment/120743048#Comment_120743048

As far as i know , you can shop around to other garages to see what theyll give you ,

So if you you wanted to trade in against another brand or just sell it to another dealer , you could get the full market price ( obviously the car dealer tries to buy low , sell high ) ,

CoBo55

Dumb question time, sorry. I'm on VW finance if I wanted to buy a Hyundai for example can I pay for it through VW finance?

DaveyDave

https://www.boards.ie/discussion/comment/120743239#Comment_120743239

The final payment on mine is €17,500 but it seems to have gone up a lot for 2023. Obviously the price of the car has gone up but it seems the final payment percentage has increased. Cupra are gaining popularity quickly as a brand and decent spec cars, I'd say there will be decent equity in them. Hyundai are similarly high final payment last I checked.

The issue is the way the finance is done, the SEAI grant counts as your deposit rather than coming off the price of the car so it's a €48k car on paper and the €17,500 lines up with that. In reality it was a €38k car so the final payment is high. It just means your monthly payments are a bit lower but if you refinance the final payment for 2-3 years it's going to be high. All things going well I'll have it paid off as a lump sum.

bazz26

https://www.boards.ie/discussion/comment/120743048#Comment_120743048

PCP is just a structure of payment, where you pay a monthly fee including interest, for the first 3 years and then the option of upgrading again, pay the remaining lump sum to buy the car or hand it back with nothing. Your still buying a car so your making repayments on that purchase for the first 3 years irrespective of what you decide to do at the end of the 3 years.

The whole concept of PCP is to keep you on the PCP hook when your current deal finishes. Of the 3 options open to you under PCP, handing it back and walking away with nothing is the least favourable option to both you and the car manufacturer/dealer. They would prefer you to trade it back in for another new car and start over again. PCP suits lots of people who never have any intention of buying the car out for a multitude of reasons, basically it's just like renting a new car every 3 years.

People only hand it back and walk away with nothing where they are in financial difficulty such as made redundant from their job, etc or simply cannot afford it anymore. It's the last resort basically where the market value of the car is worth less than the outstanding balance owed on it. Thankfully with the way the used car market is, most cars have a higher market value than the final lump sum payment so it's probably better to sell the car privately or to a dealer and use the proceeds to pay off the lump sum and pocket the difference.

CoBo55

Did a deal on a new Cupra Born last week. I got €36500 for the superb, the settlement was just under 20k. The new deal is 0% finance, €320 per month which includes servicing for the 3 years, a set of tyres and discs and pads too. I didn't have to put in a penny which was a bonus I wasn't expecting, I couldn't walk away from that I was delighted 😊. Even better bonus Flogas are getting me a day/night meter with night rate @14.75c per unit. The balloon payment is a bit high at 20k but with such cheap running costs I'll easily have that in a few years.

mickdw

It's dreamland stuff right now to be returning a pcp car as used value are very strong.

It's pretty sweet to be getting 16.5k more than owed for the trade in.

CoBo55

https://www.boards.ie/discussion/comment/120857665#Comment_120857665

I know I couldn't believe it when he showed me the figures, I don't have a good poker face btw, he knew straight away the deal was done 😊

Buddy Bubs

https://www.boards.ie/discussion/comment/120857889#Comment_120857889

How much deposit did you put in on the superb at the start? Would your monthlies have stayed the same if you had moved to another superb or gone up? Born is a cheaper machine which may give impression of great deal (not dissing it, I have one too!)