EV price war of 2023

Model 3 for under €40,000 is very tempting, bargain

According to your link

VOLKSWAGEN ID.4 LIFE 52KWH 353KM RANGE 145HP NON METALLIC PAINT ROAD TAX: €120 RETAIL PRICE before GRANTS : €51,300 €5,000 SEAI GRANT VRT €2,000 VOLKSWAGEN PRICE AFTER GRANT: €44,300 UP TO €4,350 SCRAPPAGE AVAILABLE AT DIVANES DIVANE SCRAPPAGE PRICE :€39,950 CALL TO SEE IF YOUR VEHICLE QUALIFIES FOR SCRAPPAGE T&C'S APPLY

So it's up to €44,300, meaning the dealer could give you €0 if they liked

No deposit and €333 a month for a VW ID3 is phenomenal value in fairness

Yeah VW bank are unbeatable at pcp, 34k for the car and a gmfv of 22k after 3years insane, and then you have 0% interest

I like the MG4, Tesla Model 3 and the new Volvo, but when they are charging you 6% interest and crap gmfv its no comparison

Tesla in particular will never make inroads here unless they improve finance

" Tesla Model 3 Rear-Wheel Drive - PCP Representative Example | 36 fixed monthly payments of €735 | On-the-road cash price €40,332 | Customer deposit €4,034 | Total amount of credit €36,298 | Optional Final Payment €15,326 | Interest charges €5,478 | Total amount payable €45,811 | Annual Percentage Rate 6.90%"

€735pm is ridiculous

hi Stevie can you elaborate on how VW are giving you a free car when you add in the running costs of the banger- i don't follow?

Are you saying that the €333 repayment cost would be made up for in fuel and servicing costs that you would have had on the banger?

Also are there mileage limits on this deal?

I'm interested as i have a diesel that seems to be developing issues at the moment (ever since someone allowed their car to roll into my front bumper!!) and i wonder what the best deal is on a new or nearly new car at the moment.

Ive never bought new or had a PCP or an EV.

It's not so clear cut Liam

PCP doesn't follow that logic

VW are not only using financial arm, they are giving out very high gmfv, scrappage and trade in allowances, when you factor them all in it can make a difference

That 34k list price and 22k gmfv with 0% finance is practically unbeatable for a 60kWh 204bhp family hatch, even the Chinese MG and BYD equivalent are more expensive

I've only bought with cash, never a loan or PCP... would PCP suit someone travelling 30,000 km in a year or is it aimed people doing less than 15k?

It is a bit of a lottery depending on the insurance company

Chill wanted to up my premium to €1100 from €430 when moving from a Leaf40 to a Model 3, Aviva wanted €420 to insure the Model 3

Tesla Ys available at 45k this morning including a hitch, so 44k really....not sure the likes of VW can respond well to that. 0% finance perhaps their main tool leveraging their bank?

Ah the murkiness of PCP rears its head again. To keep the car, or upgrade, you have to pay the GMFV (€22,000) - it's the final payment - they don't buy it back for €22k, you have to pay that €22k! If you don't want to pay the GMFV and hand back the keys, then you are out of pocket by €12,000 (excluding the value of your scrapper) - or you have paid €333 per month to rent the car (which isn't actually too bad!). You may also have to pay penalties if you are over the mileage allowance, or there is any damage to the car such as scratches and dents, or if you haven't adhered to the servicing schedule.

If you want to get a new car after the PCP ends, your deposit is whatever the dealer offers as the market value, less the GMFV payment. So, if the car was going for around €28k on the market, the dealer may offer you €25/ €26k (they need to make a profit), which means your equity is €2k-€3k which can be used for the deposit on your new car... you will then have to top up the deposit. The dealer must offer at least €22k, which is exactly what your final payment is, so it's a moot point. It's only relevant if the arse crashes out of the market on a car, and being honest, you could just hand the keys back anyhow!

People need to be aware of this as they focus too much on the monthly payments and ignore the final payment. If the final payment is higher, then the amount you get for your new deposit will be lower (unless there is a scenario like the recent lack of used cars and the used car market is overpriced). This will inevitably end up with people having to top up their deposit, or buying the car outright. Always look at the final price and work it out that way.

I completely consider our pcp as car rental and that’s ok.

Have you driving it?

I got mine for 32k from Divanes

it’s a great car. I put up 30k in the first 12 months and very rarely had to charge en route

i know someone here moved from a 52kwh to a 77kwh and commented that the 52 was actually a better drive and nipper. Being a good bit lighter.

*****

Cost                                      €35,300.00

Scrappage                  € 3,000.00

Deposit                               €10,000.00

Finance Amount              €22,300.00

GFV                                      €16,860.00

36 Monthly Payments   €     243.17

Rate 5.9%

*******

when I went to collect it I actually got a lower rate of 3.9%

I haven't ted, the 148bhp is probably perfectly fine for most people with that instant torque and true on the lighter weight, def make a difference

That's an insane deal btw, fair play, 32k for that machine, wow

For 40k I don't think its great value, but for 32k its a steal