How did you finance your new Tesla?

Finance Ireland provide PCP options and work closely with Tesla so they tie in with you account etc, I used them this time and the process was extremely easy, was all online and from enquiry online to application to approval was less than a business day. PCP vs HP depends on the buyer’s circumstances, very high mileage users can be penalised on PCP but only against the rates agreed in the contract so it’s hardly a scam.

I am going onto my 4th PCP previous 3 were with VWFS and at change time the car was always worth more than the GMFV and never required additional cash from me to go again. I usually change every 3 years but bought out the PCP on my soon to be last car as there wasn’t anything available that really interested me and I was still deciding on ICE vs EV. In fairness I have always exceeded the mileage allowed on PCP and never had an issue or been charged for the overage, the conversation with the garage was always I’m interested in X car how much will you give me for my own and then if happy with the cost to change went ahead. Each time I changed dealer so it wasn’t dealer specific. The balloon payment isn’t an issue, I usually put the difference between HP and PCP aside so I have options at change time. The relatively low GMFV is there to protect the lender so that at all times there is equity in the car.

TLDR do what suits you or what you can afford and on a monthly basis, it’s pretty much cast in stone that your EV will be worth more than the balloon and with current shortages etc in 3 years time.

PCP payments will always be lower than HP payments over the same period of time, because the balloon payment remains at the end of the PCP term which is designed to hook consumers into perpetual finance payments. Fine if you want to change your car every 3 years on PCP, otherwise you need to either put aside the difference over the finance period, or take out finance to cover the balloon payment....or give the car back.

Tesla offer PCP with First Ireland at the same rate as their HP deals with FI and AIB.

HP payments on a model 3 over 5 years will be 8-900 per month depending on the deposit amount paid and assuming the SEAI grant was availed of. I reckon most people put down 10k and the SEAI grant adds 5k to that, so the payments would be circa 850pm. PCP payments will be lower, around the 600 range, but all you're doing is delaying a final payment which could be painful, or be more or less forced into using the vehicle as a deposit for another contract.

Yes I'm well awear of that, my point being guarantee 5 years ago on a 30k car was 18k. On a 60k car now its 25k. Probably get more but with recession clouds on the horizon might not be so good. Finance companies will use PCP firstly for their own benefit and pass on the benefits of a strong market to customers. Equally if the market is bad who takes the hit?

I'm not warning against PCP's but the reason they are cheaper is there is more risk on the consumers sign it's not free money. People don't really like anyone speaking any bad of PCP's on boards 🤣

An ID4 for 35K?

32k + a 2006 VW Touran with 280k on the clock and a replaced engine 😅😅 that I bought of my brother for 700 a year or 2 earlier.

the 52kWh model with a real range of about 300km

but my point was just showing what VW charge for PCP and what the GFV is

PCP

Yeah I cancelled my Leaf at 0%. I couldn’t get it

True enough but sometimes it can work in your favor - for example my last car was being facelifted the following year so they went 0% for the last six months of the year before. I was more than happy to do that and it didn't affect the trade in value. In fact the trade in value after 3 years was 82% of the original cost price.

In fairness the leaf on 0% was a great deal but as demand suddenly rocketed they removed it as it did not make sense for them to continue to give it away for free!

That’s the one I ordered. Well, that one was actually promised to a guy in hospital. Waiting for deposit return now.

😂😂

Is probably have only used the public network a half dozen times per year, so CHAdeMO wasn’t an issue. The range was also more than adequate for my needs and it’s a lot nicer than the Gen 1.5 I have.

However, as you say, I made the right choice and I know it. Besides, I can’t say online what the dealer offered me regarding the Leaf in the picture above. I was left with my jaw on the ground.

Finance Ireland extremely easy to deal with with a max deposit on the model 3 the monthly is approx €515

4 year pcp quote I got was:

Price €52,972

Deposit €10,000

48 x €658

GMFV €18,551

Thanks Jog501. Who did you get the quote from?

I did take one on PCP at 4.95%