The final value on my current mk2 is £9100 iirc.

The tsi dsg i drove yesterday was lovely. The spec is superb compared to my car now so much more gadgets and luxury items on it. I think the car is an acquired taste but i like it, the seats are very very comfortable also in comparison to my mk2.

ha love your motor,sorry,just out of intrest,whats the final value price,although its prob best on pcp just to get another on pcp,also what if like my car,its gets bumped,does this efect your payment.as we all know damaged cars are worth less

Im not sure, i would think so as from my experience they just treat as a normal car as though you had paid cash for it. As i was told pcp your still the owner of the car in the same way as ordinary finance you it just allows you other options.

Im not sure, i would think so as from my experience they just treat as a normal car as though you had paid cash for it. As i was told pcp your still the owner of the car in the same way as ordinary finance you it just allows you other options.

On PCP you don't own the car until you've paid off every single penny on the finance contract, you are the registered keeper and responsible for tax, insurance and maintance just as if you'd paid cash upfront. I tend the take my cars on PCP over 3 years and 10k miles per year then start looking to change the car after 2 years while there's still a decent percentage of value left in the car. I don't tend to worry about the miles as I've always traded the cars in, the maximum miles only comes in to play if you give the car back at the end of the lease. The only time you'd give the car back is if it's worth less than the amount owing at the end of the term, in other words you have negative equity, but you must be under the agreed mileage or you'll get stung on excess mileage charges.

On PCP you don't own the car until you've paid off every single penny on the finance contract, you are the registered keeper and responsible for tax, insurance and maintance just as if you'd paid cash upfront. I tend the take my cars on PCP over 3 years and 10k miles per year then start looking to change the car after 2 years while there's still a decent percentage of value left in the car. I don't tend to worry about the miles as I've always traded the cars in, the maximum miles only comes in to play if you give the car back at the end of the lease. The only time you'd give the car back is if it's worth less than the amount owing at the end of the term, in other words you have negative equity, but you must be under the agreed mileage or you'll get stung on excess mileage charges.

Thats exactly it, and exactly what i doo. This year is exception with milage due to being on an apprenticeship and traveling to portsmouth on block release at 900mile for 2 weeks and now iv finished i should have much less usage by about 4000miles atleast.

Did you end up getting £2690 off the car Rob?

Did you end up getting £2690 off the car Rob?

No in the end the dealer iv purchased my current car from i was in last thing Friday they gave me printed out quote offering £2690 discount, when i went Saturday morning they couldnt do it, due to them not offering enough for my car, so went to another garage which offered £750 more for mine which gave me a discount of £1800 so equivalent but only due to extra in my part ex value if you get what i mean

Thats exactly it, and exactly what i doo. This year is exception with milage due to being on an apprenticeship and traveling to portsmouth on block release at 900mile for 2 weeks and now iv finished i should have much less usage by about 4000miles atleast.

Glad to hear I'm not the only one who works the PCP in this way....I appreciate it doesn't work for everybody in this way but it works for me. This way I get a new car every 2 years-ish and don't need to worry about problems out of warranty, MOT's, tyres, or roadside assistance (most new cars come with upto 3 years), and with the Skoda I get 3 years servicing as well...win win!!

Glad to hear I'm not the only one who works the PCP in this way....I appreciate it doesn't work for everybody in this way but it works for me. This way I get a new car every 2 years-ish and don't need to worry about problems out of warranty, MOT's, tyres, or roadside assistance (most new cars come with upto 3 years), and with the Skoda I get 3 years servicing as well...win win!!

Yeah to me it makes sense but others cant see and dont like not owning there car fully, to me i just see as i may as well leave the money bank and put the required deposit in to meet my monthly budget

Yeah to me it makes sense but others cant see and dont like not owning there car fully, to me i just see as i may as well leave the money bank and put the required deposit in to meet my monthly budget

It also gives you the chance to try different manufacturers, there is a misconception that you have to stick with the same manufacturer when you start a PCP which of course you don't. When you're ready to change you just shop around and get the best trade-in price you can from which ever manufacturer you're interested in at the time. Personally I like to try different cars, the Octavia III is the first Skoda I've had and so far I'm loving it....maybe Skoda is the first manufacturer I buy a second time from, let's wait and see.

I've been offered the following (petrol estate):

 

PCP:£3500 down

£260 x 36

£11566.80 balloon

 

0%

3 years servicing

tints and black styling pack (not 100% sure what this includes tbh) in place of metallic paint as we want white.

 

Edit: I plan to add DSG and have been advised that the payments will be closer to £280 as a result.

Edited 21 July, 201312 yr by MTM

I've been offered the following:

PCP:£3500 down

£260 x 36

£11566.80 balloon

0%

3 years servicing

tints and black styling pack (not 100% sure what this includes tbh) in place of metallic paint as we want white.

Edit: I plan to add DSG and have been advised that the payments will be closer to £280 as a result.

Is that a petrol? Is it estate or hatch also?

Sorry, that's against a petrol estate

High GFV over hatch

Kenny, can you elaborate as I'm not that clued up on PCP.I  know GFV is the guaranteed future value that I'll need to pay to keep the car or else I can hand it back I believe? I've only ever used traditional HP.

 

Martin

My gfv is slightly higher at £12050 which i believe is just because its a diesel, dsg estate, which in turn lowers my monthly payment and reduces the amount left to pay on a monthly basis.

Dont want to sound like teaching you to suck eggs but if you dont know it works out like this:

List price for example - £20,000

GFV - £10,000

Deposit - £5000

Thats would leave £5000 left to pay on a monthly basis so £143 roughly on a 3 year pcp.

If the GFV was £12,000 the monthly payments would reduce to £85ish a month as less money is needed to make up the difference. hope this helps understand the gfv and payment figures

Edited 21 July, 201312 yr by Rob-vrs21

Hi Rob...thanks for that. I just wasn't sure what Kenny meant when he said it was high over the hatch?

Hi Rob...thanks for that. I just wasn't sure what Kenny meant when he said it was high over the hatch?

It goes on spec really so a diesel is going to have a higher gfv over a petrol one i think an estate would be higher over the hatchback and would think dsg one higher than a manual. Hope it helps

Cheers!

Kenny, can you elaborate as I'm not that clued up on PCP.I know GFV is the guaranteed future value that I'll need to pay to keep the car or else I can hand it back I believe? I've only ever used traditional HP.

Martin

Sorry mate, the TSi hatch is only 9700 GTV so a fair bit higher for estate. Sound like ur going to have a nice car

Gotya..cheers sir!

It also gives you the chance to try different manufacturers, there is a misconception that you have to stick with the same manufacturer when you start a PCP which of course you don't.

 

Can you really? I thought you were trapped! My wife has a DS3 on PCP and I thought we were stuck with the car for 3 years and then either had to buy another Citroen or just give the car back. It is currently well under the mileage and so 'should' be worth more than the final value.

 

Steve

You are not tied in to staying with a particular manufacturer, as long as the numbers to change stack up OK (no negative equity) the customer is free to do what they want.

 

Lee

Personally if you want to swap and change your cars more frequently than 3 years its the best way to so it in my opinion.

Personally if you want to swap and change your cars more frequently than 3 years its the best way to so it in my opinion.

This is a seriously expensive way to keep yourself in cars, how many people do this? the annual cost has to be in the £4-5K bracket for a mid £20s K car. 

Your basically renting the car with the monthly payments, my current octavia in the last year has depreciated by about £1500 - £2000 so if thats included also yeah could cost £4000 haha I'm keeping this new car for the full term