How did PCP work out in the end?

carsfan2 · 14-01-2018 10:51pm

I think part of the reason vw do so well is very low apr plus they give manufacturer contributions as well as dealers willing to give chunks of their margin away to generate a sale and push up their numbers to get a bonus from vw.
Bmw on the other hand do none of these things but rely on the allure of the car itself and the supposed premium status of the badge. This works for a while but people that pushed to get into their first pcp with them are in for a rude awakening come the end of their agreement. I think Audi also have high gfmv which may end up the same.

Dakota Dan · 14-01-2018 11:05pm

tedpan wrote: »

Interest?

Very good, if only you were smart enough not to have to get a loan.

tedpan · 14-01-2018 11:20pm

Dakota Dan wrote:

Very good, if only you were smart enough not to have to get a loan.

? Ok man, calm down just wanted to clarify what you were asking..

I said I paid around 3k on the previous page. If you were clever enough to read, you'd know.

rustynutz · 15-01-2018 12:06am

Seat Toledo mid spec 1.2 TSI
Bought in 2014 for just under 20k (can't remember exact figure, got a good discount of RRP as it was may and they wanted to sell units before July)
Deposit - â‚¬5k
Monthly repayments â‚¬216
GFV -â‚¬8500
Actual trade in value offered when returning after 3 years -â‚¬11500 (this was despite being about 10k over the allowed mileage)
Equity on new car -approx â‚¬3k

I was happy with that, I ended up trading for an Ateca Diesel

Max Prophet · 15-01-2018 12:10am

rustynutz wrote: »

Seat Toledo mid spec 1.2 TSI
Bought in 2014 for just under 20k (can't remember exact figure, got a good discount of RRP as it was may and they wanted to sell units before July)
Deposit - â‚¬5k
Monthly repayments â‚¬216
GFV -â‚¬8500
Actual trade in value offered when returning after 3 years -â‚¬11500 (this was despite being about 10k over the allowed mileage)
Equity on new car -approx â‚¬3k

I was happy with that, I ended up trading for an Ateca Diesel

How's the Ateca going ? Looks a decent car and one I am considering.

jca · 15-01-2018 12:22am

JoeA3 wrote: »

:rolleyes:

Surely one of the most ignorant asshat replies I've ever seen on boards and that takes some doing.

Are you miffed I didn't pm you for the secret figures? (If they exist at all)

JoeA3 · 15-01-2018 12:38am

jca wrote: »

Are you miffed I didn't pm you for the secret figures? (If they exist at all)

Look, I'll give your absolutely moronic posts the benefit of the doubt.

I've had a bad week. Last weekend I did have a Golf R on my driveway and a bunch of masked hoodlums attempted to take it. Thanks to a decent salesman (yes they exist) in the VW dealers that Golf is now gone and I walked away with a healthy few quid in my pocket. I did not want to go into specifics of the arrangement for these obvious reasons.

Is that clear enough for you now? F***kin hell... its bad enough dealing with idiots in real life all week. Now I'm doing it on boards.

johnnyskeleton · 15-01-2018 12:42am

Got PCP deal on a skoda in 2015 on a 0% interest rate. Will pay off the balloon payment in a few months' time.

Found the whole process straightforward. GMFV is just under 10k. Saw similar models on carzone for around 17k so guessing the dealers would offer me the GMFV or maybe 12k but not a lot more. Not really concerned as I'll keep the car and the dealer hasnt made much of an effort to woo me into buying another new one

photosmart · 15-01-2018 9:36am

Thanks to all who actually posted up some information.

biko · 15-01-2018 9:52am

JoeA3 and jca, threadbanned until 18th 8am

Danbo! · 15-01-2018 10:06am

Rusky rusky wrote: »

Car Type: VW Golf CL 1.2 TSI M6
Price: 23300 ( excl interest)
Deposit: 10%
Trade in offered after three years: 18000
9k of equity
Mileage under 45k km

Pretty good deal me thinks.

Very good deal

Have a 151 VW Golf 1.6TDI Highline, paid 28k and under 40k km on it now. GMFV is 10.5k - It's up in April so going to have a look around this weekend and get a trade in value, but most likely will pay off the 10k and keep it. But if it's anything in that sort of ballpark I'd be tempted to pick up something a bit bigger and second hand for around the €20k mark.

daheff · 15-01-2018 12:02pm

rustynutz wrote: »

Seat Toledo mid spec 1.2 TSI
Bought in 2014 for just under 20k (can't remember exact figure, got a good discount of RRP as it was may and they wanted to sell units before July)
Deposit - €5k
Monthly repayments €216
GFV -€8500
Actual trade in value offered when returning after 3 years -€11500 (this was despite being about 10k over the allowed mileage)
Equity on new car -approx €3k

I was happy with that, I ended up trading for an Ateca Diesel

so just to be clear on what it actually cost you over the 3 years

deposit 5,000
36 monthly repayments 7,776
total 12,776

Less equity at end (11,500-8500) 3000

Total cost 9,776
annually approx 3,250

biko · 15-01-2018 3:04pm

Some posts removed, please stay on topic

photosmart · 15-01-2018 3:20pm

Danbo! wrote: »

Very good deal

Have a 151 VW Golf 1.6TDI Highline, paid 28k and under 40k km on it now. GMFV is 10.5k - It's up in April so going to have a look around this weekend and get a trade in value, but most likely will pay off the 10k and keep it. But if it's anything in that sort of ballpark I'd be tempted to pick up something a bit bigger and second hand for around the €20k mark.

Cheers for that
Please let us know what they offer you on trade-in if you go again!

Danbo! · 20-01-2018 5:08pm

photosmart wrote: »

Cheers for that
Please let us know what they offer you on trade-in if you go again!

Went to a couple of places this morning. Audi north offered 15.5k at first then 16k at a push. VW garage I bought from offered 16.5k and an additional “bonus” 2k if I go with a new Passat, translates into “we’ve a load of margin”. No interest in new Passat, but I made the mistake of test driving a new A3 S-line saloon. Now I don’t know what to do

Their Pcp is at 3.9% APR tho

DaveyDave · 20-01-2018 6:16pm

Danbo! wrote: »

Went to a couple of places this morning. Audi north offered 15.5k at first then 16k at a push. VW garage I bought from offered 16.5k and an additional “bonus” 2k if I go with a new Passat, translates into “we’ve a load of margin”. No interest in new Passat, but I made the mistake of test driving a new A3 S-line saloon. Now I don’t know what to do Their Pcp is at 3.9% APR tho

If you don't mind me asking, what's making you go look at an A3? Considering you're coming from a Highline, they're very similar although the A3 lacks some of the standard spec like the digital dash. The options are more expensive than VW too.

Danbo! · 20-01-2018 7:09pm

DaveyDave wrote: »

If you don't mind me asking, what's making you go look at an A3? Considering you're coming from a Highline, they're very similar although the A3 lacks some of the standard spec like the digital dash. The options are more expensive than VW too.

Ah just window shopping really. I spec’d the golf out like a mad thing when I bought it and when I tried to add all the extras I currently have to the A3, it was silly money. Sense will prevail. I hope. Always been a fan of the styling of Audi’s, but probably a bigger fan of money in my bank account.

micks_address · 20-01-2018 7:45pm

For me it's was kinda neutral. My car was 28500 when new (honda civic tourer) was paying about 380 a month on pcp. Changed in July for a Skoda octavia car cost 35.5k. My payment is approx the same. 0% payment versus whatever honda was. I did have to put 5k of my own money into the new deal to keep the payments down. That's more due to the fact I bought a 7k more expensive car than pcp issue.
Happy enough. What was annoying was that Honda were giving me almost 3k more for my car in trade in than skoda did.. I just didn't fancy the new civic. Well I did apart from poor headroom in the back.
Thanks,
Mick

arleitiss · 20-01-2018 10:11pm

Was thinking of getting PCP but then read all those stories here and online (especially the recent one about someone being unable to pay off for Mini) so decided not to go for it.

Instead - will look for 08/09 used car from local dealers that offer finance and get finance for 24 months.

(Currently looking for dealers, open to recommendations)

jca · 20-01-2018 10:15pm

Danbo! wrote: »

Went to a couple of places this morning. Audi north offered 15.5k at first then 16k at a push. VW garage I bought from offered 16.5k and an additional “bonus” 2k if I go with a new Passat, translates into “we’ve a load of margin”. No interest in new Passat, but I made the mistake of test driving a new A3 S-line saloon. Now I don’t know what to do Their Pcp is at 3.9% APR tho

They're great figures for the golf, it just goes to show it's all about the car in the end. I'd go for the Passat in a flash I'd love a decent spec one.

jca · 20-01-2018 10:17pm

arleitiss wrote: »

Was thinking of getting PCP but then read all those stories here and online (especially the recent one about someone being unable to pay off for Mini) so decided not to go for it.

Instead - will look for 08/09 used car from local dealers that offer finance and get finance for 24 months.

(Currently looking for dealers, open to recommendations)

You'll struggle to get finance for a 10 year old car from any institution.

Lantus · 20-01-2018 11:09pm

arleitiss wrote:

Was thinking of getting PCP but then read all those stories here and online (especially the recent one about someone being unable to pay off for Mini) so decided not to go for it.

That makes no sense. Finance, car type and affordability cover huge ranges. Unless you have done some figures on the car you want, your affordability and realistic needs your just making abstract decisions.

I would be unable to afford an 09 Aston Martin for example but I can easily afford a new Skoda. If I drive ten km to work a cheap car might be fine. As I drive 100 I want something newer and reliable. Let's work out total ownership costs over 3,5 or even 7 years. Does an older car still look good? It might and that's great but basing your decisions on a single internet paragraph on such a huge purchase seems quite bizzare.

arleitiss · 20-01-2018 11:34pm

Whatever, I cba to be paying for 3 years and not even owning car at the end.
+ I don't drive that much to justify buying 181 car (I drive maybe 6-7k KM a year tops) and I can't keep driving my current one as it's 2001, and insurance only keeps going up for me every year and I am stuck with one insurancer as all others I've tried calling are refusing me a quote saying that car is way too old.

Currently have to pay 165 Eur a month (24 yo, 5 years NCB), so yeah, need something new but not so new that it will rise insurance due to car value being too high.

I rather pay 150-200 monthly for 24 months than 300+ for 36 months and not even own the car.

SteelyDanJalapeno · 21-01-2018 1:27pm

arleitiss wrote: »

Whatever, I cba to be paying for 3 years and not even owning car at the end.
+ I don't drive that much to justify buying 181 car (I drive maybe 6-7k KM a year tops) and I can't keep driving my current one as it's 2001, and insurance only keeps going up for me every year and I am stuck with one insurancer as all others I've tried calling are refusing me a quote saying that car is way too old.

Currently have to pay 165 Eur a month (24 yo, 5 years NCB), so yeah, need something new but not so new that it will rise insurance due to car value being too high.

I rather pay 150-200 monthly for 24 months than 300+ for 36 months and not even own the car.

Why not get a 04 so and pay it off for 6 months?

I'd rather pay 150 a month for 6 months and own the car, than do the same for a year on a 08/09 and not even own the car.

arleitiss · 21-01-2018 3:41pm

SteelyDanJalapeno wrote: »

Why not get a 04 so and pay it off for 6 months?

I'd rather pay 150 a month for 6 months and own the car, than do the same for a year on a 08/09 and not even own the car.

Isn't 04 gonna catch up to me though much sooner in terms of "It's an old car, we wont insure it" ?

SteelyDanJalapeno · 21-01-2018 3:44pm

As will the 08/09 compared to a 181

Fann Linn · 21-01-2018 3:50pm

SteelyDanJalapeno wrote: »

As will the 08/09 compared to a 181

However he will have 6 or 7 years before it does hit the 15 year old cut off.

A crazy set up altogether that prople are practically coerced in getting rid of plus 15 year old cars.

But thats a different thread however.

rustynutz · 21-01-2018 6:30pm

Max Prophet wrote: »

How's the Ateca going ? Looks a decent car and one I am considering.

I'm happy with it, ended up getting the 1.6 diesel, was tempted by the 1.4 turbo petrol but there was only about 200 euro in the price so diesel won for better fuel economy and better residuals ( I hope). Overall a nice car, went for mid spec again. My first choice was the Hyundai Tuscan but the higher interest rate Hyundai were charging put it out of my price range, glad I went with the Seat now though as the Hyundai's are everywhere!

lawred2 · 21-01-2018 7:13pm

rustynutz wrote: »

I'm happy with it, ended up getting the 1.6 diesel, was tempted by the 1.4 turbo petrol but there was only about 200 euro in the price so diesel won for better fuel economy and better residuals ( I hope). Overall a nice car, went for mid spec again. My first choice was the Hyundai Tuscan but the higher interest rate Hyundai were charging put it out of my price range, glad I went with the Seat now though as the Hyundai's are everywhere!

I expect diesel sales to fall hugely in the next five or so years.

Small and efficient turbo charged petrols, hybrids and fully electric will be the main sellers.

That's just my opinion. For what it's worth. Which isn't much

rustynutz · 21-01-2018 7:30pm

lawred2 wrote: »

I expect diesel sales to fall hugely in the next five or so years.

Small and efficient turbo charged petrols, hybrids and fully electric will be the main sellers.

That's just my opinion. For what it's worth. Which isn't much

I agree, I did weigh up the pros and cons and eventually decided on diesel as price was around the same, I'm hoping diesel doesn't increase in price too dramatically by the time it comes to trading again, hard to predict the future though.

How did PCP work out in the end?

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