It was from murrays Plymouth, I did contact Carrs at Indian Queens and SMC at Exeter.

It was from murrays Plymouth, I did contact Carrs at Indian Queens and SMC at Exeter.

Personally, for me, the trick to a PCP is getting a deal that you are happy with as a monthly payment, my local dealer has always said to me that putting lots of money is a waste, its effectively putting money down the drain, you put in say £3K deposit, thats what the car loses the minute it goes on the road, OK, you are going to lose that anyway, but if you have £3K then pay the minimum £500 and stick £2.5K in the bank!?!

 

I always stick £500 in, do it over the longest term 42 months and with the least mileage allowance 6K per year, the allowance only comes into play if you hand the car back and walk away at the end of the term, if you go over the allowance then very often the excess mileage charge may work out cheaper than the extra you would of paid by having a higher allowance.  When doing the deal on my ordered car, we set it at 6K, I will probably do around 8-10K and he worked it out that there wanst much in it, only difference being I pay lower on a monthly payment, then as it will be traded slightly before the end of term then the excess charges etc don't come into it, simple as.

 

I can't remember the exact figures, as it will change between when I ordered and when I collect (in my favour), but when I ordered the new car was going to be about £10 per month cheaper than the existing car, so with a 5 month wait, and the extra 5 months worth of payments on the existing car and a protected PX price then I estimate that will improve by about £30 per month or something, either way, the new car will be cheaper than the existing car.

It was from murrays Plymouth, I did contact Carrs at Indian Queens and SMC at Exeter.

 

Did you test drive the white manual estate vRS??  I had that a while back for a few days, lovely car.

 

You having DSG or manual?  That GFV you have, what mileage is that if you don't mind me asking?

 

I ordered from Murrays in Newton Abbot, overall I have found Murrays pretty good, have had a few cars from them now.

James sound advice i was initially looking at putting full value of my part ex as deposit but it makes sense to split between deposit and bank the rest. I'm travelling to Liverpool on Thu to test drive manual vrs tdi dealer there offering best deal at moment through carwow, what options have you gone for if you don't mind me asking?

James sound advice i was initially looking at putting full value of my part ex as deposit but it makes sense to split between deposit and bank the rest. I'm travelling to Liverpool on Thu to test drive manual vrs tdi dealer there offering best deal at moment through carwow, what options have you gone for if you don't mind me asking?

 

Thanks, yes its best to set the PCP up as it suits you, why not do it so it brings the monthly cost down as much as possible, obviously I wouldn't recommend setting the milage at 6K if you do 30K or something for example as you are dumping on yourself straightaway, but a little bit then yes I would certainly do that, especially if you intend to change it before the end of the term.

 

I have ordered an Estate, vRS Diesel DSG, with spare wheel, heated seats, black pack, colour maxi-dot, variable boot floor, canton, Amundsen, gemini anthracite, standard cruise and red stitching, quite fancied the Pano Roof but decided for a grand it wasnt worth going for it, however, seeing a Passat Estate in the dealer the other day with one in it I really wanted it, but I have convinced myself its too late to add it to the order!!! :-)  Looking forward to delivery to be honest, midnight on March 1st is when I am collecting it, and already have a 100 mile testing route planned!!!! :-)

Out of interest has anyone got a list of GFV by any chance?  As it would be interesting to see them listed?

I test drove the black tsi dsg one from Newton Abbot. I have stated 8k for the miles and I have gone for a manual. Bought a few cars from murrays vw now and have no complaints....Yet!

I test drove the black tsi dsg one from Newton Abbot. I have stated 8k for the miles and I have gone for a manual. Bought a few cars from murrays vw now and have no complaints....Yet!

 

Yes I test drove the black DSG a while back, but wanted to see a white one on the flesh, the black one is nice, but as with all early demo's it has nothing bar the basics on it, doesn't do a great deal for the vRS I felt!  Anyway, enjoy yours when it arrives, I was the first one to order a mk3 vRS with Murrays, yet I don't expect any special fireworks or champagne when I collect!!!!!

 

I find Murrays to be pretty good, they can be a pain at times, but generally compared to some dealers they are pretty good.

Personally, for me, the trick to a PCP is getting a deal that you are happy with as a monthly payment, my local dealer has always said to me that putting lots of money is a waste, its effectively putting money down the drain, you put in say £3K deposit, thats what the car loses the minute it goes on the road, OK, you are going to lose that anyway, but if you have £3K then pay the minimum £500 and stick £2.5K in the bank!?!

 

I always stick £500 in, do it over the longest term 42 months and with the least mileage allowance 6K per year, the allowance only comes into play if you hand the car back and walk away at the end of the term, if you go over the allowance then very often the excess mileage charge may work out cheaper than the extra you would of paid by having a higher allowance.  When doing the deal on my ordered car, we set it at 6K, I will probably do around 8-10K and he worked it out that there wanst much in it, only difference being I pay lower on a monthly payment, then as it will be traded slightly before the end of term then the excess charges etc don't come into it, simple as.

 

I can't remember the exact figures, as it will change between when I ordered and when I collect (in my favour), but when I ordered the new car was going to be about £10 per month cheaper than the existing car, so with a 5 month wait, and the extra 5 months worth of payments on the existing car and a protected PX price then I estimate that will improve by about £30 per month or something, either way, the new car will be cheaper than the existing car.

 

Have a look at the PCP t&cs - VW Financial Services expect you to only do the maximum annual mileage claimed (all worked out pro-rata).  They reserve the right to charge excess mileage on a yearly basis - how/when they would know the mileage I don't know (from service history?) and may only come into effect if you were to return the car mid-term.

 

Best to set the mileage limit to what you realistically intend to do - sounds like you are storing up problems later on by under-estimating the mileage.

the excess mileage charge is 7.2p/mile inc VAT so if your on a 10k mile plan and do 15k it will cost you £360/year extra

This seems pretty logical to me..

The simple reason why I would caution against big deposits on a PCP is that if you need a big deposit to reduce the monthly payment to a level where it's affordable, you're not going to be able to replace the car like for like unless you get a better deal, or have more income, next time around. So effectively you can't afford the car

the excess mileage charge is 7.2p/mile inc VAT so if your on a 10k mile plan and do 15k it will cost you £360/year extra

 

All circumstances are individual etc etc yadda yadda BUT unless you are 100% sure you are going to do the mileage you are setting on the PCP each and every year it's worth doing the calcuations to make sure you are not getting ripped off.

 

In my case I'm doing 15k a year a moment, I've worked out that i'm better off setting it at 10k a year, and then sticking some cash aside each month in case I do go over. Seems crazy I know but I got them to calculate both and it worked out I would pay more setting the mileage at 15k a year.

 

It's my understanding that the reality of the situation is that they won't charge you the over mileage fees until the end of the term - so imagine that some years (for various reasons) I do 15k and then others I only do 7 - overall I might not be over, if I'd set the PCP at 15k I would be paying extra for doing miles I'll never even see - complete waste of cash. I'm not sure about you but I don't know the exact mileage I'll be doing in 3 years time...

 

At least this way the money is in my pocket, if I do hit the end and I don't need it I have a holiday saved for I didn't expect! If I need it, it's there....

 

I'm not saying this works for everyone, but run the numbers, the money is much better off in your own pocket

All circumstances are individual etc etc yadda yadda BUT unless you are 100% sure you are going to do the mileage you are setting on the PCP each and every year it's worth doing the calcuations to make sure you are not getting ripped off.

 

In my case I'm doing 15k a year a moment, I've worked out that i'm better off setting it at 10k a year, and then sticking some cash aside each month in case I do go over. Seems crazy I know but I got them to calculate both and it worked out I would pay more setting the mileage at 15k a year.

 

It's my understanding that the reality of the situation is that they won't charge you the over mileage fees until the end of the term - so imagine that some years (for various reasons) I do 15k and then others I only do 7 - overall I might not be over, if I'd set the PCP at 15k I would be paying extra for doing miles I'll never even see - complete waste of cash. I'm not sure about you but I don't know the exact mileage I'll be doing in 3 years time...

 

At least this way the money is in my pocket, if I do hit the end and I don't need it I have a holiday saved for I didn't expect! If I need it, it's there....

 

I'm not saying this works for everyone, but run the numbers, the money is much better off in your own pocket

Hi mate I totally agree with setting a lower limit. My post shouldve expanded to say that setting a lower allowance was the best way forward ... I do about 15k a year at the moment but that may change in years 2 or 3 to be lower ... why pay money out upfront for higher miles if theres a chance you may not use them ? 5k over the 10k allowance is £30/month ... just put that into a separate account each month for the duration of the deal to cover the excess .. and I know savings rates are poor but you get the Tesco effect .... every little helps !!!

I'm just getting my head around this finance stuff but as far as I can tell the only time where the mileage would come into effect is if you didn't want to keep the car and the GFMV is higher than the market value (unlikely).

Otherwise just trade it in before the end of the deal, or pay off the GFMV and keep the car.

Why would you want to hand it back at the end of the deal, getting lower than market value and now with an excess milage to pay because you set it lower than your intended milage?

I'm just getting my head around this finance stuff but as far as I can tell the only time where the mileage would come into effect is if you didn't want to keep the car and the GFMV is higher than the market value (unlikely).

Otherwise just trade it in before the end of the deal, or pay off the GFMV and keep the car.

Why would you want to hand it back at the end of the deal, getting lower than market value and now with an excess milage to pay because you set it lower than your intended milage?

Because telling them you are going to do 15,000 a year means the value of the car will be lower come the end of the PCP, so they increase your monthly payments to cover the loss in value. This is all good and well if you actually do every single one of those 15,000 miles each year, but if you don't you are paying for something that you've not used. I would rather save the money myself, then only pay what I have to. I'm not sure there are many people that can say with any certainty exactly the mileage they'll be doing in 2 years time, lots can happen, so my advice would be keep it as flexible as possible and on your terms, not theirs....

Because telling them you are going to do 15,000 a year means the value of the car will be lower come the end of the PCP, so they increase your monthly payments to cover the loss in value. This is all good and well if you actually do every single one of those 15,000 miles each year, but if you don't you are paying for something that you've not used. I would rather save the money myself, then only pay what I have to. I'm not sure there are many people that can say with any certainty exactly the mileage they'll be doing in 2 years time, lots can happen, so my advice would be keep it as flexible as possible and on your terms, not theirs....

Exactly ....and why hand over 11k for a 3 year old car ... just start a new deal on a shiny new one.

 

I have absolutely no intention of buying the car when the 3 year period ends. Treating it as a personal lease nothing more nothing less !

Exactly ....and why hand over 11k for a 3 year old car ... just start a new deal on a shiny new one.

Because if you like the car, have taken good care of it and kept the miles down it's a good deal, and possibly thousands cheaper than buying the same car 2nd hand. You've already paid for the depreciation, you may as we'll enjoy it.

I have absolutely no intention of buying the car when the 3 year period ends. Treating it as a personal lease nothing more nothing less !

And that's fine too, but you'll be trading it in agains a new car, and banking the difference between trade-in value and the outstanding finance, or putting it towards a deposit. (Not handing it back and accepting the low GFMV)

If you have done more miles than in your contract trade-in value will be lower and GFMV will be higher, giving you less equity out at the end (Or more cash to find if you intend to pay-off the outstanding balance).

Okay if you're disciplined enough to squirrel away that extra £30/month into a high-interest account, but how many people are? I'd rather be realistic about the milage I'm going to do, have a reasonable figure to pay off at the end and not risk the excess charges if I had to hand the car back for any unexpected reason.

PCP deals were invented to keep people interested in changing their car every 3 years or so.

Just ordered yesterday the vRS from local dealer with the following spec:

 

Race Blue

Petrol manual

temp spare steel wheel

Canton
Black pack
Colour Maxi Dot

 

Vehicle financed using Skoda PCP over 42 months. Managed to negotiate a 5% discount off total cost and secured £1k for part ex of my 53 plate Toyota Avensis. Deal very much in line with my expectations having read the comments on this forum so all in all very pleased. Good service from the dealer and negotiations straight forward. Highly recommended.

Just had email from Carwow to say that as well as the price increase due on 1st Jan, the 3 years free servicing AND 0% deal is ending 31st Dec.

Just had email from Carwow to say that as well as the price increase due on 1st Jan, the 3 years free servicing AND 0% deal is ending 31st Dec.

Yeah I just had that too. Glad I ordered this month now! The dealer did mention that the free servicing will be stopping, although to drop the deal on the vrs completely is shocking.

How the heck do they know this, the dealers aren't told about the next campaign until a few days before I thought?

Some may know already

Just had email from Carwow to say that as well as the price increase due on 1st Jan, the 3 years free servicing AND 0% deal is ending 31st Dec.

 

My dealer called today to say that mines at Grimsby. He told me about the 3% increase, loss of 0% and 'changes' to the servicing offer from January.