What causes creaks at full lock when stopped? I was turning full lock to the right as my missus had the door open in my Born and it was quite loud.
With a PCP, do you not have the ability to just hand it back in April at an agreed future value ? Should make it easier to get into a non VW if that’s your preference.
I'd say that's just the creak from being at full lock as the shocks and tower move a few mm when at full lock.
Yes but if you can sell it for more than why not.
The OP indicated that trade values of 2-3 year old ID.3’s appear to be well back. Hence I wondered if the GFV of the PCP agreement would provide a solution without the hassle of say a private sale.
My GFV is €18.5k. On a Tour with a current new price of €50k or so.
Not a hope in hell I'd hand it back! Plus that would equal 3yr depreciation of €23.5k.
Of course I could do that but as pointed out it is likely not to make sense. The GFV I think is around 14.8k. Cheapest ID3 I can see on DoneDeal at the moment is 22.8K.
My preference is for something a bit bigger and with at least similar range but ideally more. I would have no issue with VW but I think the price of the ID4 is way too high considering the alternatives.
I'm guess I'm just surprised by the hesitance of dealers to take an ID3 for trade-in and was wondering if others had experienced the same.
That used to be normal depreciation before Brexit and covid hit.
On a PCP, the "agreed future value" is the baloon payment that you owe on the car, not a cheque the dealer will write you. So if your GFMV is €15k, you owe €15k. Your equity in the car is Trade in price - GFMV. e.g. if you were offered €20k trade in, your deposit to carry forward to the next car is €5k
Similarly, if the GMFV is 15k and the car is worth 13k you just hand the car back and move on which was the point I think. If there's equity in the car, then that equity can indeed be given to you as a cheque.
Yes you could hand the car back and walk away with no equity (+ any Km penalties if over the agreed allowance or car condition penalties)
VW are doing 0% PCP on the ID4 at the moment for January orders.
The new ID4 (new motor and screen) will be out in Q1 2024 and that's getting a price cut. Might be worth talking to a VW dealer and seeing what your monthlies would be.
I think maybe the problem is partly due to the number of 2nd hand ID3s currently for sale- something over 200 on done deal - meaning that they may be hard to shift. I traded my 2021 ID3 in last February (for the Born) and got a very good price but this was when there were very few 2nd hand cars on the market. Also you have the likes of the much cheaper MG4 coming more into the market. Also perhaps some people might be waiting for the new refreshed spec ID3 rather than taking the current older spec.
There is a glut of ID3 in the 2nd hand market at the moment, and they seem to be slow to move. I have about 8 cars saved in carzone for the last few weeks and only 2 of them have been sold.
I expect 2nd hand prices to fall even further in the next few months as people trade up for the new year.
I picked up a 2 year old "Tech" last week for just over 25k and am really impressed with the car, l actually prefer driving it to my Ioniq 5.
Maybe consider trading up into a used ID.4. Theres a glut of them for sale as well that aren’t moving. It might be cheapest way to get into a bigger EV. Some nice 77kWh 1st Edition ID.4’s out there for reasonable money.
We got our ID.3 back in July on 0% PCP, and the GFV is over €22k.
The Born is the same, it does worry me as I like to be in the position to have the settlement put by in case I can't get a deal. In saying that I'm close enough as I didn't have to take any money out of the fund to enter the new PCP deal.
The GMFV on my Born is 27k (77kWh though) and I fully expect to hand it back with values going the way they are. I'm concentrating on saving a new deposit for the next one.
Not a bad plan either😉. When is your PCP finished?
Its a confusing finance scenario this pcp stuff. Is it better to have a high or low GMFV ?
What's the ideal scenario for PCP?
@DrPhilG is planning on keeping his Tour yet @[Deleted User] may hand the car back?
August 2026
Doing the right thing alright, use the gmfv against them, they got that gamble wrong, what will your lease have cost, €20,000?
Who would have thought most people would be leasing EV's in 2025? A few years ago they seemed a no brainer and almost a good investment but the prices have gone insane. €50,000+ for a hatchback that looks fast but isn't is mental money and was never gonna last, especially when you can now get a BYD Dolphin for €30,000 that's the same size, power etc and slightly less range.
You'd have to worry for VW group long term, how are they gonna compete and especially when consumers can’t afford expensive EVs, I suppose that's why they are lobbying the EU for more incentives and to tax the Chinese giants like BYD and cutting EV production for now
It depends. Your deposit and your 3 year PCP payments combined should pay for the car's depreciation in full. If the car depreciates in reality less than that projected by the finance plan the car is worth than the GMFV after 3 years. In this scenario you have equity in the car and you are quids in. If it depreciates more than projected meaning the car is worth less than the GMFV you can hand the car back. In the case of the ID3 let's assume 40% depreciation after 3 years (not an unreasonable figure I think) then the average 3 year old ID3 should be worth about eur 22k approx (eur 37k new). Suggests that indeed ID3's asking prices have further to fall.
Same time frame as myself although I've never actually ran any of my PCP deals to the full term. I think I will this time as I'm getting tyres, servicing plus discs and pads in this deal, not forgetting 0% too. I wonder what the landscape will look like in 26?
I'm just a consumer like yourself but I've a mate working for a large non dealer franchise in UK and he said September and October have been awful, market has almost tanked to December levels which as you can guess is always a bad month for car sales and usually what happens over there, arrives here
Anyway none of them are taking EV's in part Ex he was telling me, they have been badly hit by Tesla price drops we're talking £10K plus loss, which has had a knock on effect on other EV's on the forecourt and they got burnt by finance rates from the banks as well.
So basically VW will take your car back and maybe a few a big dealers, but forget about selling on the private or non dealer franchise market
In other words, I'm fcuked in 26🥴
Only if you want to sell it privately or trade for something else
You have a decent gmfv I assume and 0% so you didn't do too bad, continuing on with a VW group new car in 2026 is probably your best bet
It's the guys that bought a new Leaf or Kona etc that are really screwed
Why the leaf or Kona? Because of finance?
Both are massively overpriced and depreciating like rocks at the moment
I know someone that was offered €12,000 for a 2020 Leaf against a new ID4 :) and the real kicker is he sold a 2017 Ioniq 28kWh with nearly negative deprecation to get the Leaf, should have kept the Ioniq :)
He's gonna keep the leaf now and drive it into the ground, Kona were over €40,000 new and a lot of them on donedeal recently with 50% depreciation in 3 years, yeah that's normal for ICE, but the petrol Kona in 2020 was €20,000
2020 petrol kona's are that price now, back then they were 26000 the EV was 40 000,
Your friend is right, keep it longer.
![Photo of [Deleted User]](https://we.vanillicon.com/v2/e67e50a7acdcb0d5153c7f298936d74d.svg)
