nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Child Item

PCP finance.

[Deleted User]

Ok so after a while of my brother and I trying to figure out the benefits of PCP we can't find any.

He's looking at getting a new Audi and we've been looking into pcp, he changes every 2 years or so and might have 15 k miles maximum on the clock so we thought pcp might suit him better.

You got to come up with a large deposit if you don't have a trade in and while your monthly payments appear low when you add in the fact you need a new deposit for the new pcp after 3 years your 300 a month pcp suddenly turns into 600+ pm.

So what's the benefit over hp or bank loan ?

The only hing with hp or loan is you pay the full interest where as pcp yup don't ?

Either way I see little benefit on a normal loan and trade in and re finance after 3 years or so. Only thing is VW bank has much lower interest than any other bank or finance.

For me doing 20-25 k miles a year pcp would leave me with not much on the gfv.

It seems to me that people could get caught out at the end because you can be damn sure you won't have much over the gfv to use as a deposit.

Find more posts tagged with

Quick Links

Comments

Wildly Boaring

SteelyDanJalapeno wrote: »

Great for anyone in the 2nd hand market thou, the Leon is a great car for the money

Saturday's purchase....2017

CoBo55

SteelyDanJalapeno wrote: »

Great for anyone in the 2nd hand market thou, the Leon is a great car for the money

Exactly:D

Wildly Boaring

SteelyDanJalapeno wrote: »

Great for anyone in the 2nd hand market thou, the Leon is a great car for the money

Bought Saturday....

SteelyDanJalapeno

Great for anyone in the 2nd hand market thou, the Leon is a great car for the money

CoBo55

DaveyDave wrote: »

To add to this, I was looking at changing at 18 months, there just wasn't enough paid off at that stage to get any decent equity. Best off waiting at least 2 years.

From a window shopping perspective it's not worth it. No point buying a car knowing you'll want to change it.

I agree, you really need to have paid at least 24 to 30 payments before you have any chance of equity +deposit in your car.

CoBo55

Personally I don't think the Leon would be a good choice for PCP if you intend changing in 2-3 years time, they really don't hold their value at all.

bazz26

younggalway wrote: »

Just out of interest if anyone works in a dealership here, if I was to look at going from a 191 Leon to a 201 Golf on PCP, would the 'equity' be the deposit or would I have to put down x% again?

Weren't you trying to sell the Leon due to travelling aboard in another thread recently? Either way it's going to cost you plenty.

DaveyDave

mickdw wrote: »

I think I can simplify this question.
Can you swap your 1 year old car for another new one without losing your shirt? No.

You will have lost most or all of your deposit at this stage. It's only over the next couple of years that you keep paying at a rate greater than the slowing depreciation that gets you some equity at end of term.
It's nothing to do with Pcp. If you paid cash and went to swap again at 1 year old, you will get screwed every time.

To add to this, I was looking at changing at 18 months, there just wasn't enough paid off at that stage to get any decent equity. Best off waiting at least 2 years.

From a window shopping perspective it's not worth it. No point buying a car knowing you'll want to change it.

mickdw

I think I can simplify this question.
Can you swap your 1 year old car for another new one without losing your shirt? No.

You will have lost most or all of your deposit at this stage. It's only over the next couple of years that you keep paying at a rate greater than the slowing depreciation that gets you some equity at end of term.
It's nothing to do with Pcp. If you paid cash and went to swap again at 1 year old, you will get screwed every time.

SteelyDanJalapeno

younggalway wrote: »

Just out of interest if anyone works in a dealership here, if I was to look at going from a 191 Leon to a 201 Golf on PCP, would the 'equity' be the deposit or would I have to put down x% again?

A lot of factors here before we could answer, how much was your initial deposit? How much are repayments? How many miles have you done?

L-M

younggalway wrote: »

Just out of interest if anyone works in a dealership here, if I was to look at going from a 191 Leon to a 201 Golf on PCP, would the 'equity' be the deposit or would I have to put down x% again?

I would certainly guess you’d be putting in x y and z % again coming out of a 191 Leon to get into a Golf.

Year one is the worst depreciation, especially with a Seat. Would be very surprised if you’re not in negative equity, you would need the cash to bring yourself back up to 10 percent and even at the the payments could be up in the mid to late 400s

younggalway

Just out of interest if anyone works in a dealership here, if I was to look at going from a 191 Leon to a 201 Golf on PCP, would the 'equity' be the deposit or would I have to put down x% again?

SteelyDanJalapeno

Noticed the Kangooring on my Golf too, said it to the dealer at the 1st service but they couldn't find anything.

1.5TSI petrol 191 manual

bazz26

The kangarooing only seems to be mainly with the manual and not the DSG.

younggalway

L-M wrote: »

Is your one like that?

I’ve driven numerous 1.5s and never experienced that

I have a 191 Leon 1.5tsi, I had noticed the 'kangarooing' a handful of times when the car is cold at idle. Car was in with dealer recently for service and I mentioned this to them. It is a known thing with the engine across the VAG range, apparently there is a fix coming in the form of a software update to the ECU. I wouldn't sorry about it too much if I was buying, they are aware of it at least and I've only noticed it a handful of times in 9 months.

Abba987

Abba987 wrote: »

Never knew that

Abba987

.G. wrote: »

Off topic but you can get a by typing a : followed by a D!

hooch-85

Thanks for confirming that, I tried the Skoda configurator today twice and it was down, didn't know if it was my laptop ir what. That said, I think the Leon ST estate is the nicest of the three (Golf, Leon, Octavia) unless it's a Cupra or VRS Octavia. The Golf estate does nothing for me even in R or GTD form.

CoBo55

DaveyDave wrote: »

I'm pretty sure this issue is specific to the Karoq or Kodiak, but some have been saving it's that engine in general. I believe if it was every 1.5 we'd be hearing a lot more about it. Someone on here had the issue with the Skoda in question and the garage wouldn't sort them out until I believe HQ got involved.

The 1.5 would be a low volume seller here in Ireland. I see on some vag sites the 1.5 is only available with DSG, in saying that the Skoda configurator has been down for ages ..

. Colon D works

DaveyDave

L-M wrote: »

Is your one like that?

I’ve driven numerous 1.5s and never experienced that

I'm pretty sure this issue is specific to the Karoq or Kodiak, but some have been saving it's that engine in general. I believe if it was every 1.5 we'd be hearing a lot more about it. Someone on here had the issue with the Skoda in question and the garage wouldn't sort them out until I believe HQ got involved.

.G.

Off topic but you can get a

by typing a : followed by a D!

CoBo55

[Deleted User] wrote: »

Any phone can add a :-) ;-)

If you're 14, on bebo...

CoBo55

L-M wrote: »

Is your one like that?

I’ve driven numerous 1.5s and never experienced that

Boards... Where an argument is never far away..

It's well documented I'm just advising to test drive one first.

[Deleted User]

CoBo55 wrote: »

Can't on my phone..

Any phone can add a :-) ;-)

L-M

CoBo55 wrote: »

It's like you're a leaner again, very difficult to get the clutch to bite and pull away smoothly without either a) revving the nuts out of it (sounding like a granny outside mass) or b) stalling (like granny outside mass..)

Is your one like that?

I’ve driven numerous 1.5s and never experienced that

DaveyDave

I can't say enough good things about the DSG, it makes my Golf a dream to drive, it's so smooth and revs are kept low so very quiet driving experience.

You definitely have to test drive one. Worth every cent, especially if you're planning on keeping it long term.

hooch-85

I think the plan would be to keep it long term, I am aware the depreciation can be steep on the Leon's, it doesn't seem to be the case with the Ibiza, but they are a cheaper car to start with. We must price the Octavia too and see what kind of deal they would offer.

jimbobmalones

hooch-85 wrote: »

Thinking of changing the wife's car in 2020, she bought a new Seat Ibiza FR in Mar '18.
It's two years old in March and the dealer called last week asking if we were interested in trading up for 2020. The car has been faultless, my wife has a commute of 100kms a day and it's averaged over 50mpg from the little 1.0 TSi, it's only the 95hp version.

We would like a little more space as we travel up to the in laws quite a bit and have a dog so we were looking at the Leon ST as a replacement in FR trim. There is a 130bhp 1.5 TSi available starting at a bit over €28k, with a few boxes ticked like metallic, winter pack and parking sensors it's a smidgen over €29k.

The numbers we've gotten are:
Settlement figure as of Saturday €11,862 should be under €11k come next February
Trade in value €16k ~ €5k equity
Deposit €1k
Repayments going from 253 to 357 a month.
0% finance, currently on 1.9%.

This seems manageable and a good deal to me as we are getting back the full amount we financed and going onto 0%. Also there's 53kms on the car now so will be just approaching the 60k limit come time to trade. If we wait until the end of the PCP term in 2021 there will be 80-90k on it so not sure what kind of trade in we would get then.

I know there is a new Leon coming in winter 2020 but I reckon this will be a nice step up price wise, the FR spec is good and it's a decent looking car.

Opinions on the numbers, do they look fair? Also has anyone driven the Leon with this engine, what did you think? We are yet to drive one.

Hi OP

I've a 1.6tdi Seat Leon - in general its a great car but a couple of words of warning

I just got a trade in quote of 9000 (mine has higher than average mileage) for a 161! I know you are thinking of going for TSi but unless you are planning on keeping for the long haul the depreciation on these cars is horrific. There's no way I can afford to use mine as a trade in given the super low trade in quote.

The skoda octavias have much better resale value so thats where I'd be putting my money if buying new.

The other thing to consider is that all of these models (leon octavia golf) are now being replaced within the next couple of months so you should be looking for a massive discount if buying new.

cheers

J

Casati

hooch-85 wrote: »

Thinking of changing the wife's car in 2020, she bought a new Seat Ibiza FR in Mar '18.
It's two years old in March and the dealer called last week asking if we were interested in trading up for 2020. The car has been faultless, my wife has a commute of 100kms a day and it's averaged over 50mpg from the little 1.0 TSi, it's only the 95hp version.

We would like a little more space as we travel up to the in laws quite a bit and have a dog so we were looking at the Leon ST as a replacement in FR trim. There is a 130bhp 1.5 TSi available starting at a bit over €28k, with a few boxes ticked like metallic, winter pack and parking sensors it's a smidgen over €29k.

The numbers we've gotten are:
Settlement figure as of Saturday €11,862 should be under €11k come next February
Trade in value €16k ~ €5k equity
Deposit €1k
Repayments going from 253 to 357 a month.
0% finance, currently on 1.9%.

This seems manageable and a good deal to me as we are getting back the full amount we financed and going onto 0%. Also there's 53kms on the car now so will be just approaching the 60k limit come time to trade. If we wait until the end of the PCP term in 2021 there will be 80-90k on it so not sure what kind of trade in we would get then.

I know there is a new Leon coming in winter 2020 but I reckon this will be a nice step up price wise, the FR spec is good and it's a decent looking car.

Opinions on the numbers, do they look fair? Also has anyone driven the Leon with this engine, what did you think? We are yet to drive one.

Some super deals on pre reg 130 FR Leon’s - saw one at 20k in a dealer In Limerick. It was a hatch mind you. The full 29k does have a discount built in that they are using to up the equity in your own but be aware that resale in Leon’s for the first three years is generally v weak compared to its first cousins the Golf and Octavia. After three years they actually hold their value v well.

We’ve a 1.6 TDI and it’s a great car, aside from eating through remote batteries every year at least we’ve had no issues. The FR is nicely spec’d too and the estate has a massive a massive boot - we regret not getting one

CoBo55

hooch-85 wrote: »

It's the 1.5 manual 130ps. What do you mean by kangaroo problems?
The DSG is 150 ps and about €2k more, that's what i'd really like to go for but i think it could be stretching things a bit.

It's like you're a leaner again, very difficult to get the clutch to bite and pull away smoothly without either a) revving the nuts out of it (sounding like a granny outside mass) or b) stalling (like granny outside mass..)