hi all,

just having a think about getting a new Fabia Vrs on PCP with the intention of giving it back after the 3 years.

if the car in 3 years is going to be worth say 50% of its original and i can get a pcp deal that will cost me around 50% of the new price over 3 years, wouldn't this be a wise choice?

yay or nay?

Edited 4 July, 201114 yr by biggy7

sometimes it is, depends on your circumstances...

first, you need to do fairly low mileage, these deals nearly always have a mileage limit, with a silly cost if you go over (I for example, do too many miles for pcp) ... if you do low miles could be a good deal.

secondly... downside is you are paying the money, and never own the car... for example when I bought the vRS (on higher purchess) I had already paid for my previous car (HP again) therefore I owned it, and at 4 years old, (and 107k!) traded it in against the vRS and was given £3000, so I still had capital in the previous car

I would say, if you do less than their mileage limit, go for it!, If you are gonna do higher miles, look at other ways of financing..

Agree about the mileage comments - but get a quote in any case, you never know. But what ever you do, if you are CERTAIN that you will hand the car back:

1) Don't underestimate the miles you're likely to do. It's way cheaper to add a few thousand miles at the beginning rather than pay 6p per mile at the end.

2) Shop around - the are LOADS of other places doing all sorts of deals. Find the best deal you can and your local dealer will try to match it.

3) Don't pay a big deposit. Take NO NOTICE of the salesman, you will loose your deposit in the deal at the end. Pay the minimum - I paid £0 deposit on my last car.

4) Make sure you look after the thing. If you want to hand it back, read the small print in the deal - it might (for example) cost you a new set of tyres and a few hundred quid on paintwork repairs.

5) Check out the 24 month deals - just occasionally they can work out better as do the 42 month ones. (if you go 24M really keep the deposit down)

6) Don't worry about not owning the car - who really wants to own a depreciating "asset" Just view it as rent.

7) Check out the deals with no GFMV - If you are SURE you want to hand it back then these will be cheaper. Just make sure you look after the car though.

At the moment, I am driving an Alfa MiTo - they are getting a proper slating and therefore will depreciate loads more than thought. I don't care because i have the option to hand it back.

It'll work out if you do low mileage as the guys say. I am on a 10K miles contract on mine. My mileage in the first year was 7K. So I will have a car with at least 9K miles less than they budgeted for and should get a better trade-in at the end.

Totally agree on not adding to any deposit. You won't get it back at the end, it just disappears.

Also agree on keeping it in the best condition possible if you are definately handing it back or I imagine they will sting you for anything they can get away with. The very best way out it seems is to buy the car out for the GFMV and then immediately sell the car privately. I could probably make back the GFMV and add nearly £3K to it if I wanted the hassle of doing that.

You're just renting it for 3 years.

great advice guys, many many thanks for posting!

lots to think about.

yep i will do 10k max a year and i always keep my cars in top nick.

just trying to find a deal that does no or minimum deposit with minimum monthly payments.

spoke to one dealer today who said £2500 deposit over 3 years and £199 per month on skoda finance at 7.9% apr

£199 per month sounds awesome but not the £2500 deposit!

£2500 deposit means your payments are actually nearer to £270 per month.

oops sorry mate, typo,

he told me £199.38 per month for base model @ 7.2% APR with the £2500 deposit

or £223.80 per month for rallye green, black roof and black alloys @ 7.2% APR with the £2500 deposit

both with skoda finance

Edited 4 July, 201114 yr by biggy7

Take a look here: http://www.firstvehicleleasing.co.uk/car-leasing/skoda/fabia/fabia-hatchback/1.4-tsi-vrs-5dr-dsg/4520485

Take a look here: http://www.firstvehicleleasing.co.uk/car-leasing/skoda/fabia/fabia-hatchback/1.4-tsi-vrs-5dr-dsg/4520485

cracking link mate, thanks

exactly what we are doing with ours. wfes car, doesnt do much mileage, did it with our last car worked out reasonably well. It has its drawbacks but ulitmately you'll be paying the depreciation on the vehicle + a little extra. Just pay a lowish deposit and dont necessarily expect to get something back out of it at the end of the term

Take a look here: http://www.firstvehicleleasing.co.uk/car-leasing/skoda/fabia/fabia-hatchback/1.4-tsi-vrs-5dr-dsg/4520485

If I have worked it out that is £321 a month with the VAT over 36 months with no deposit and 10.000 miles a year thats £11.577 another 1K and you can buy a all most new one not sure thats a good deal.

Edited 4 July, 201114 yr by curs

I got my pcp on a vrs 2months ago!! £200 sheets a month, that includes, tax, tyres and servicing also!! 600quid up front!! All i need 2 do is insure it! Thats on a 24month deal!

I got my pcp on a vrs 2months ago!! £200 sheets a month, that includes, tax, tyres and servicing also!! 600quid up front!! All i need 2 do is insure it! Thats on a 24month deal!

was that from dealer mate?

My freind runs a company called liquid associates in carlisle, i got it through him which came through skoda finance! He used to b the fleet manager at the local skoda dealer then set up on his own!!

Edited 4 July, 201114 yr by suk

I'm almost certainly getting my vRS by PCP but through a broker site (probably) broker4cars.co.uk If I pay a £2000 deposit and pay it over 4.5 years it's £265 a month and no balloon payment at the end. Schweet.

hi all,

just having a think about getting a new Fabia Vrs on PCP with the intention of giving it back after the 3 years.

if the car in 3 years is going to be worth say 50% of its original and i can get a pcp deal that will cost me around 50% of the new price over 3 years, wouldn't this be a wise choice?

yay or nay?

ill just say, you will be very very lucky to retain 50% of the original value over the 3 years. my MFV is 6115 over three years and thats 40% on the VAT deal, if you pay full price... could be a different story, 30% ish

I'm almost certainly getting my vRS by PCP but through a broker site (probably) broker4cars.co.uk If I pay a £2000 deposit and pay it over 4.5 years it's £265 a month and no balloon payment at the end. Schweet.

So you are paying a total of £16,310.

You say it's by PCP, but I assume you are actually keeping the car at the end when yopu say no balloon?

(asking as I thought PCP meant you gave thecar back or paid the MFV)

If so that sounds about right for a typical buying car over X years deal.

ill just say, you will be very very lucky to retain 50% of the original value over the 3 years. my MFV is 6115 over three years and thats 40% on the VAT deal, if you pay full price... could be a different story, 30% ish

More than lucky.

Very few cars ever retain 50% in my experience, even when bought with a discount.

I'd expect 40%.

So you are paying a total of £16,310.

You say it's by PCP, but I assume you are actually keeping the car at the end when yopu say no balloon?

(asking as I thought PCP meant you gave thecar back or paid the MFV)

If so that sounds about right for a typical buying car over X years deal.

Yeah, unless I end up hating the car I'll be keeping it. If I pay for four years there's a still £4k balloon payment to make on it. OK it's £40 a month cheaper but I'd rather pay that extra bit of cash and have it all paid off in four and a half years.

£2500 deposit means your payments are actually nearer to £270 per month.

and I pay that for my car on HP, and I will own it at the end....

and I pay that for my car on HP, and I will own it at the end....

I've never quite got PCPs either, but I'm sure it suits some who want to change regularly and basically rent a car for the part of it's lifetime when depreciation is heaviest. But generally people say no hassel and warranty from new make it worthwhile.

PCP monthly costs (and subsequent APR) tend to be less than HP. With some fiddling of figures and length of contract you can own the car at the end of it.