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

Yes, I've just moved from a Toyota on a 3 year lease with Toyota Finance to a Skoda on Skoda Finance after having the Toyota just over 2 years.  Skoda Finance will pay off the finance owing on the Toyota meaning they own the car now and give me the difference between the trade price of the Toyota and the finance owing to put into my deposit on the Skoda.

I think that you need to read the small print with some lease deals though. My vxr is currently leased and the small print (Vauxhall Leasing) states that the contract is non transferable so I need to pay an early termination fee of £1800 to get out of the deal early.

Oops DP !

Edited 22 July, 201312 yr by Mr Grump

Exactly basically with pcp in my view all your paying for is the depreciation and if your wanting a new car regularly in my opinion it's best way to go about it.

So for my deal:

£5500 deposit

£208 per month

10,000miles per year

£12050 final payment (irrelevant to me)

3 years free servicing

3 years free breakdown cover

1st year road tax

All you need to pay for is insurance and up to you but I recommend GAP insurance (from a private company) on return to invoice costs me £125 for 3 years.

 

Hey Rob,

I noticed there have been a couple of others doing this, do you mind if I ask how much of the deposit you have to find (if the car after 2 years gives you part of it) ?

I have been given the green light from SWMBO to get a vRS if the figures are do-able (and they look it from your post).

Initially I was looking to swap the current Octy in after 3 yrs (its on PCP), but if it works out  better financially to do it after 2, happy days    

Edited 22 July, 201312 yr by Mr Grump

Hey Rob,

I noticed there have been a couple of others doing this, do you mind if I ask how much of the deposit you have to find (if the car after 2 years gives you part of it) ?

I have been given the green light from SWMBO to get a vRS if the figures are do-able (and they look it from your post).

Initially I was looking to swap the current Octy in after 3 yrs (its on PCP), but if it works out better financially to do it after 2, happy days

Hi,

Im putting £2500 cash and my car for the other £3500.

Rob

Can someone advise me on the following please:

 

Just looking at the initial deal I was offered:

 

£3500 down

 

£260 x 36

 

£11566.80 balloon

 

The above totals £24426 against the RRP of £23790 - a difference of £636.

 

Any ideas why this could be given it's 0% - I was advised the figures are a rough indication until tomorrow but just curious as I've only done the Maths there.

 

Cheers,

 

Martin

Does the RRP include  metallic paint?

Have a quote for a vrs estate TDI,

 

total payable 24000

42 months term

monthly payments 277

deposit 2000

final payment 10641

 

After reading this Im wndering if the final payment is too low??

Have a quote for a vrs estate TDI,

total payable 24000

42 months term

monthly payments 277

deposit 2000

final payment 10641

After reading this Im wndering if the final payment is too low??

Is that manual or dsg?

Its a manual

Can someone advise me on the following please:

 

Just looking at the initial deal I was offered:

 

£3500 down

 

£260 x 36

 

£11566.80 balloon

 

The above totals £24426 against the RRP of £23790 - a difference of £636.

 

Any ideas why this could be given it's 0% - I was advised the figures are a rough indication until tomorrow but just curious as I've only done the Maths there.

 

Cheers,

 

Martin

Tax, Fee to setup finance and there is some additional tax specific to brand new cars I think not sure of the name, also check they not stuck on some car prep work like AG lifeshine etc

 

ah the additional tax on new cars is additional charge from brand new cars with tax code H and above i.e. emmissions >= 166 g/km

Edited 22 July, 201312 yr by Zillio

Thanks mate!

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.

 

I wasn't aware of that, i'm currently 21 months into a 36 month PCP and i'm currently 9k miles over where I should be at this point after a change in circunstance since I bought the car.

 

So if I trade the car in and start a new PCP on a brand new vRS I wont get charged for the excess mileage??

I wasn't aware of that, i'm currently 21 months into a 36 month PCP and i'm currently 9k miles over where I should be at this point after a change in circunstance since I bought the car.

So if I trade the car in and start a new PCP on a brand new vRS I wont get charged for the excess mileage??

No as they treat it as a normal financed car being traded, it's just your part ex value will be less due to the higher mileage

No as they treat it as a normal financed car being traded, it's just your part ex value will be less due to the higher mileage

That's mega, I worked out last night that I'd taking a £2k hit!

That's mega, I worked out last night that I'd taking a £2k hit!

You only pay the excess mileage charge of you sent the car back to skoda, which I was told 9/10 never happens

You only pay the excess mileage charge of you sent the car back to skoda, which I was told 9/10 never happens

Brilliant, think I'll be chatting to my local dealer when I have the week off work next month

Does anyone know if the excess mileage charge is a fixed rate or can be dealer dependant?

I have never considered PCP to obtain a car.  As my Georgie father used to say, "if you can't pay cash then you can't afford it".  I have usually purchased at 12-15 months old for cash and kept for 3-4 years; although my last car I kept for almost 7 years and it cost me 8K in depreciation.

 

My current 2012 Octavia vRS TDi DSG with under 10K miles was bought at 15 months old for £16K (with a few extras thrown in by the dealer).  I shall have to do the sums and see if a PCP on a new car is financially viable as an alternative when I next change. 

 

What happens if you want to mod a car purchased via a PCP?

I have never considered PCP to obtain a car. As my Georgie father used to say, "if you can't pay cash then you can't afford it". I have usually purchased at 12-15 months old for cash and kept for 3-4 years; although my last car I kept for almost 7 years and it cost me 8K in depreciation.

My current 2012 Octavia vRS TDi DSG with under 10K miles was bought at 15 months old for £16K (with a few extras thrown in by the dealer). I shall have to do the sums and see if a PCP on a new car is financially viable as an alternative when I next change.

What happens if you want to mod a car purchased via a PCP?

Nothing as its your car just like buying it cash or on finance. It would only matter if you sent it back to skoda.

Hi All, Iam unsue of why everyone is coming out with different final payments on the same model of car.

 

Does anyone have any idea why that could be?

Hi All, Iam unsue of why everyone is coming out with different final payments on the same model of car.

 

Does anyone have any idea why that could be?

 

deposits, mileage differences etc

also the term, obviously a 3 year old car will be of higher value than a 4 year old one, which is one of the bigger factors in the GFV figure.

Diesel dsg maybe worth more than a diesel manual, and a diesel manual be worth more than a petrol ect ect

Can someone advise me on the following please:

 

Just looking at the initial deal I was offered:

 

£3500 down

 

£260 x 36

 

£11566.80 balloon

 

The above totals £24426 against the RRP of £23790 - a difference of £636.

 

Any ideas why this could be given it's 0% - I was advised the figures are a rough indication until tomorrow but just curious as I've only done the Maths there.

 

Cheers,

 

Martin

Martin

I had similar and worked out that the dealer had included gap insurance and paint protection in the figures. I've been to 2 other dealers and both their figures worked out to equate to 0%. My plan is to wait until next week when hopefully there will be clarification on the 19" wheel upgrade then go to 3 dealers with my spec and see who can offer the best! If I want paint protection il pay for that upfront and source gap through my current insurer. The dealer gets such a rake off their services.