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rolling on the pcp...


anst11

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HI all, wondering if you can help....

 

Currently 16 months into a pcp on my fabia SEL 110 with a good few options.  Overall a good car, a few annoyances that i hate but overall I'm happy. However, the arrival of our baby means now it all really is too small with all the baby gear that goes with him.

 

Want to upgrade to an Octavia (or another bigger model), as the boot space is appealing and generally a bigger car is needed for car seat etc.

 

I was thinking about contacting skoda myself and maybe talk about "upgrading".  Without getting into exact prices, I've paid around £3000 of the £15k owed. 

 

Just wondering how I should go about it when talkign to them and what model I should go for generally. The 20 year old in me loves the Octy VRS but the 30+ year old in me needs to be level headed lol, more comfort in a Superb but they look ****. 

My concern about it all is that I go in, look at a bigger car and then they bend me over a barrel and stitch me up with maths! lol

 

 

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I've changed a few times and never been stung too badly

You could if the equity in yours isn't enough add that to the value of your next vehicle and it doesn't have to be a new car either

A few years ago the salesman was trying to talk me into a 3 year old vrs on lease saying as long as it didn't trip over 84 months old during the lease that's ok

We didn't buy as it is was after a bigger car than a citigo I wanted and the 18 year old liked but the soon to 38 year old dad in me leased a new roomster

Obviously additional factors have to be considered if it's not a new car like extended warranty etc

But you may find a few good nearly new or demo or even pre reg offers that drop the cost down best thing is have friendly chat with the the sales person set a monthly amount in your head and see what's available

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I'd really go to see your dealer. We can't really advise you as there are always deals on offer on the cars and of course on the pcp deals too. I got 0% on mine so really great. Skoda also has many offers on at present with up to £2,000 deposit contribution for some new models (Octy I think is in there). Regarding working out what you owe, your dealer is the one to tell you on that as the finance company will need to be consulted no doubt (you can do that yourself if you wish), but the dealer can put everything into context for you. There is no way they can 'turn you over' on this as it's all down in black and white, so don't worry about that side of it. Is your current pcp a 0% deal? 

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Get a settlement figure for your car first then you can do most of the math yourself, there are plenty of free car valuation websites to give you a rough trade in value, then you have an idea if it's going to be viable before going to the dealer. Without knowing the details of your agreement I'm going to guess your figures won't be healthy unfortunately. I had to run my last PCP for 20 odd months to get close and was still in a bit of negative equity.

Edit to say that we went for the Fabia estate when our baby was due and it's been perfect for the job, massive boot for its class so maybe consider one too.

Edited by Gripper
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In a PCP deal you can hand the car back when 50% of the total price is paid.

 

My fabia is on a 3.5 year lease but after 2.5 years i can hand it back and they can't say or do anything to stop you.

 

It will say in your contract.. my figure is just over 9K I need to pay.

 

Deposit was £2500... so roughly divide £6.5k by my monthly total of £228 works out at 29 months of rentals I need to pay. 

 

If you are planning on getting a car that isn't a skoda get the deal done before you hand the car back to skoda, technically you don't get a bad mark against your name, but they can leave a note saying what you have done, and future dealers won't like it... if you want another skoda then they'll be happy enough 

Edited by Jeffchiz
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Buying new sometimes works out cheaper than buying used if it's on finance.

 

You can get very low APR or even 0% on new whereas used the APR can be as considerably a lot more.

 

Have a look on the Skoda used car section and it gives you the APR rate. Different dealers offer different rates

Edited by Auric Goldfinger
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In a PCP deal you can hand the car back when 50% of the total price is paid.

 

My fabia is on a 3.5 year lease but after 2.5 years i can hand it back and they can't say or do anything to stop you.

 

It will say in your contract.. my figure is just over 9K I need to pay.

 

Deposit was £2500... so roughly divide £6.5k by my monthly total of £228 works out at 29 months of rentals I need to pay. 

 

If you are planning on getting a car that isn't a skoda get the deal done before you hand the car back to skoda, technically you don't get a bad mark against your name, but they can leave a note saying what you have done, and future dealers won't like it... if you want another skoda then they'll be happy enough

VT wouldn't help the OP in his situation though as by the looks of it he hasn't put down a big deposit so will be near the end of his agreement before he has paid the 50%+ he needs to hand it back.

Out of interest are you actually planning to definitely VT yours after the 29 months? Seems crazy, why didn't you contract hire instead?

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Buying new sometimes works out cheaper than buying used if it's on finance.

 

You can get very low APR or even 0% on new whereas used the APR can be as considerably a lot more.

 

Have a look on the Skoda used car section and it gives you the APR rate. Different dealers offer different rates

This is the exact reason why my current and previous Fabia where brand new even though I was looking at used

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VT wouldn't help the OP in his situation though as by the looks of it he hasn't put down a big deposit so will be near the end of his agreement before he has paid the 50%+ he needs to hand it back.

Out of interest are you actually planning to definitely VT yours after the 29 months? Seems crazy, why didn't you contract hire instead?

Well i suppose I can't say for certain until the time comes but i thought id be happy with my fabia for a long time and even though im very happy with it I need something with more power in my life. Plus in 2 years my salary will have doubled if not tripled what it is now so i might lease another new car or buy something fun and second hand. I only got the fabia as i needed an economical car which could fit 2 kids a double pram and a weeks worth of shopping which the fabia estate does lovely but i won't necessarily need that much room in a couple years. 

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Well i suppose I can't say for certain until the time comes but i thought id be happy with my fabia for a long time and even though im very happy with it I need something with more power in my life. Plus in 2 years my salary will have doubled if not tripled what it is now so i might lease another new car or buy something fun and second hand. I only got the fabia as i needed an economical car which could fit 2 kids a double pram and a weeks worth of shopping which the fabia estate does lovely but i won't necessarily need that much room in a couple years.

Yeh, I'm not having a go it's just with the deposit you put down, your monthly payments and possibly only wanting to keep the car a couple of years, contract hire would have been a good option for you, Octavia VRS is that kind of money on pch.

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I want to know in what line of work salaries are doubling or tripling within 2 years!

I'm an assistant/trainee building surveyor, once my masters course is completed and I'm registered with the Royal Institute of Chartered Surveyors then the sky is the limit! It's my boss that is paying for my masters course so he is obviously going to expect to pay me more if he wants a fully trained chartered surveyor! Plus ill be getting pay rises at intervals, first one is due in march so nearly there! 

 

Its more to do with how **** my salary is now which when doubled wouldn't be an astronomical amount, even tripled it wouldn't be as much as you may think haha but enough to live comfortable on and get my self a nice car 

Edited by Jeffchiz
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