Ok so back from the dealership!

Not good news really :-(

Car I'm looking at has a list price of £19455

Offered £8400 as a trade in (March 2011 vRS hatch, white, black roof , climate, cruise, heated seats 22k on clock, dark chrome rims).

The first offer was £7900 for the trade in which I managed to get up by another £500 but still not that great imho.

The killer is they refused to consider ANY discount at all off list. The poor sales guy went back to the boss a couple of times but not a penny offered bar the extra on the part-ex!! And remember this is a showroom car which has been sitting there unsold for nearly 6-months now......

Poor effort from the dealer in my view. They trotted out the same old excuse we've been hearing on here of "all the margin is eaten up with the 0% offer".

Not surprisingly we walked out. They are gonna call me on Monday I think. Wonder if the offer might improve?

Sales guy was very pleasant tho. Ringing around some more dealers now to see what others can do!

What colour and spec are you after?

Check out Auto trader - Savilles have a low mileage demo in Black, looks great at £14750.

You should be able to get £8750-£9000 trade-in if you push in my view.

EDIT,  Agree totally with what XK140 posted as i typed.

 

Is that Silver Estate sitting 'unregistered' in the Showroom.?

 

They probably will need to register it before February, and if not it will be for certain to be before March and new Registrations.

They have much to suck up if it is not going to sell.

 

But I see them struggling to get your car shifted with any profit on it, so i can see where they are coming from

 

Makes the Red Estate 63 plate estate which another Dealer is advertising for £15,5000 with 1,000 miles on it,

look like a bargain if they have to take more money off that to get it sold.

 

Buyers Market and Dealers will just have to accept that,

but if they are going to stuggel to shift Trade ins like vRS's, i do understand the difficulty of their position.

 

I wonder what Skoda UK are going to do to help Dealers sitting with cars they can not shift.

I still think that A1 185 ps must have gone back to Audi because those that were sitting advertised and not selling

appears to have ether sold at long last and are no longer in the Trade, or somehow else are not around.

 

george

Yep it's been sitting there unregistered since sept. 10miles on the clock. They reckon if they can't sell it this month they will take it out of the showroom and use it as a demonstrator..... Sounds abit odd to me. Nobody wants to buy a Fabia vRS these days so I can't exactly see much of a stampede for a test drive lol!!

Actually new sales have been going well for some dealerships.

 

These near me had well specced cars including estates available in the Country and due in at the docks.

 

They should have accepted my offer on their Silver Estate when i made it, 

i am waiting to see when they get desprate, as they struggle to sell their Ex Demos.

 

http://www.john-clark.co.uk/skoda/used-cars/search/page/2

 

(still after almost 4 years you can tell them they do not have Front Fog lights and they will tell you they do.)

What colour and spec are you after?

SWMBO would like Meteor grey estate with climate, armrest and rear elec windows. I'm in the process of getting some factory order quotes on that spec to compare (it's a fair bit cheaper list than the showroom one which has options we aren't bothered about).

Sorry misread your requirement was an estate.

 

See Hortons have a demo in Meteor Grey, unfortunately it's a Hatch- 3500 MILES ON THE CLOCK.

Sorry misread your requirement was an estate.

 

See Hortons have a demo in Meteor Grey, unfortunately it's a Hatch- 3500 MILES ON THE CLOCK.

Yeah I've been tempted by some of the ex-demo prices. Am I right in thinking tho that an ex demo will be classed as a used car and you will them not be eligible for the 0% PCP? Used pcp tends to have high APR which hen wipes out the initial saving :-(

Unfortunately your specific requirement are going too lock you in too buying new- Colour etc. Hence why your proposed  dealer will play hard ball knowing that!

 

Consequently the real saving in a purchase of a demo, will not be open to you  and hence the savings too offset PCP BENEFIT?

 

Note a couple of different coloured demos on Autotrader today at around £15000

Unfortunately your specific requirement are going too lock you in too buying new- Colour etc. Hence why your proposed  dealer will play hard ball knowing that!

 

Consequently the real saving in a purchase of a demo, will not be open to you  and hence the savings too offset PCP BENEFIT?

 

Note a couple of different coloured demos on Autotrader today at around £15000

Sorry should have said we are actually quite flexible on spec. The key question is -are those cheap demos available on 0%? If not then they are likely to cost more per month despite the lower advertised price :-)

Sorry should have said we are actually quite flexible on spec. The key question is -are those cheap demos available on 0%? If not then they are likely to cost more per month despite the lower advertised price :-)

Guess it will depend what you want to do after the 3 year period.

Also you can get personal loans of around 5.55 over a longer period.

 

So as you imply it's really  down to your individual circumstances .

 

£4500 saving is pretty good from the demo purchase over the New price you are being quoted.

 

In fact with the deal you have been offered, I would want £9500 for yours in PX for showroom car anyway.

See there are a couple of 13 plated (April and May) ones with less that 3500 miles on the clock ,white and Race Blue at £13000 or lower.

 

Dealer is Meadens at Lymington , Hampshire

Cheers for that. The 0% pcp works well for me as I change quite frequently. Never had a car beyond 2yrs and 10months lol!

Only one course of action then-pays your money and takes your choice.

 

Best of luck with improving you offer/deal.

Update!

Got an offer from another dealer:

vRS Estate for 18k with these options thrown in for free - grey paint, climate control, armrest, rear leccy windows. They also offered £8400 trade in but agreed to guarantee this until delivery -estimated at 12 weeks.

This all means that I can do a direct swap without putting in any cash at all and get the new car for exactly the same monthly payment as I'm on now.

Brand new vRS with fresh 3yr warranty with no extra outlay is quite tempting!

Update!

Got an offer from another dealer:

vRS Estate for 18k with these options thrown in for free - grey paint, climate control, armrest, rear leccy windows. They also offered £8400 trade in but agreed to guarantee this until delivery -estimated at 12 weeks.

This all means that I can do a direct swap without putting in any cash at all and get the new car for exactly the same monthly payment as I'm on now.

Brand new vRS with fresh 3yr warranty with no extra outlay is quite tempting!

Tempting but you can get a demo MK3 Octavia vRS for similar money 

Update!

Got an offer from another dealer:

vRS Estate for 18k with these options thrown in for free - grey paint, climate control, armrest, rear leccy windows. They also offered £8400 trade in but agreed to guarantee this until delivery -estimated at 12 weeks.

This all means that I can do a direct swap without putting in any cash at all and get the new car for exactly the same monthly payment as I'm on now.

Brand new vRS with fresh 3yr warranty with no extra outlay is quite tempting!

Thats what I did when I changed from my hatch to the estate... they paid off my old car , so had to put no money in, then matched (near enough) my monthly payments, seemed mad not to ! lol...

Thats what I did when I changed from my hatch to the estate... they paid off my old car , so had to put no money in, then matched (near enough) my monthly payments, seemed mad not to ! lol...

Yeah it does suck you in that! In 12wks time the settlement on mine will be approx 6400 so their offer gives me £2k equity to roll over onto the new car which is nice. Also like the fact that on the 0% deal you are paying down the capital from day 1 which should help in terms of ensuring some equity for the next deal :-)

Hope you are not too optimistic on the residual values, as prices of 2nd hand Fabia vRS' are falling like a stone.

 

However, perhaps you contract is fixed inside the agreement terms.

Hope you are not too optimistic on the residual values, as prices of 2nd hand Fabia vRS' are falling like a stone.

However, perhaps you contract is fixed inside the agreement terms.

Yep that's how PCP deals work - fixed minimum guaranteed future value - so can't be hit with any negative equity. Have plenty of equity on my current vrs so can't see why that would change too much. The fact that there will be no mk3 vrs may also help. Who knows that may even push up values of the mk2....?

The vRS Twinchargers were not actually depreciating any more than VW's, less actually, and less than the SEAT's.

Were not,  but as Dealers can not shift them, that might change, and looks like it has really

 

The Used car market in 3 years or 4 years time is going to be very interesting after a great year for First Registrations

in 2013, with all types of cars,

and so many cars now on PCP and Lease, 

& then all the Motability cars that land in the Trade at the end of lease.

 

george

Yep that's how PCP deals work - fixed minimum guaranteed future value - so can't be hit with any negative equity. Have plenty of equity on my current vrs so can't see why that would change too much. The fact that there will be no mk3 vrs may also help. Who knows that may even push up values of the mk2....?

Wishful thinking ,me thinks.

 

But that being said, best of luck.

I'm not too worried about residual value tbh. Worse case scenario hand it back and walk or pay off the small mgfv and keep/sell private.

The manufacturers aren't stupid. MGFV is deliberately set a little below the anticipated actual residual value to encourage you to trade in on a new deal. It's a nightmare for them if they get it wrong and floods of people hand the cars back lol!

Floods of people might well hand cars back if Interest Rates rise and their Mortgages on their houses rise.

That will be the Crash in the Economy again and due to the Finance on cars being too low, and so many New Cars going out Showroom doors.

 

It can all only be good for Second Hand car buyers who use real Cash money to buy used cars.

The country is overflowing with used cars now.

 

Dealers are going to have to change things sometimes soon,

and the 2013 cars coming to the end of lease in 2017-18 might just be what does it, 

and the first Euro 6 Emission cars requiring a MOT in 2018 will be interesting.

 

I imagine the UK Government will try to get old cars off the roads again by getting Strict on MOTS and Emission on Diesels and the must have DPF still fitted and the likes.

 

If or when the Fuel Prices start going up again and go high,

and interest rates on borrowed money goes higher, the days of running 35-45 mpg cars will start to be over.

 

That is worst case senario, so lets just hope it does not happen.

Just now the Car Finance in the UK looks like Pyramid selling though.

 

george

The only issue I would raise, is that financially you are paying about £2k(at best) over the odds for the new car and getting a low trade-in so as always the punter pays !! for the 0% PCP. As there is little or no room for negotiation.

 

I got over £3k off a New Model Octavia and %finance + free servicing.

 

So in my view you are not getting a cracking deal, on a phasing out model.

Very true George. I'm happy to be a PCP "renter" for the time being but I agree it's not good news generally for the used car market.

That's what attracts me with the 0% tbh. I'm lucky in that I could afford to pay cash but why bother when there is a free loan available? Prefer to keep my dosh in the bank for the time being. :-)