With the 0% credit and free servicing, working it out on the numbers provided here it's equivalent to 15% off list on the car and 6.9% APR over the maximum 42 months. The problem is only arising due to the desire to change the car so soon.

 

Nope, I negotiate the price off list before we even talk finance and service packs.

 

I got 15% off the Passat with 0% and free servicing, only managed 12% on the BMW as it was a new model at the time but also got 5 years servicing. We bought the last Fabia on VAT off but still managed a healthy discount and free servicing.

 

Get prices from online retailers, get quotes from a number of dealers and then play them against each other.

 

Just a quick search shows £2800 off the list price of a vRS Fabia is achievable. So 15% off list is easy, even before talk of finance offers.

 

Cheers

Lee

Just a quick search shows £2800 off the list price of a vRS Fabia is achievable. So 15% off list is easy, even before talk of finance offers.

 

The retailers offering those prices won't do 0% with it (at least, not the dealers I spoke to - and some wouldn't do any finance at all, literally cash sale only). The dealers at least near me seem really busy at the moment, so I guess they don't need to.

Edited 9 February, 201412 yr by pearce_jj

Is there perhaps anyone in your extended family that you could share the car with in return for help with the monthly finance?  Of course there would be an insurance implication and also one with VWFS (assuming you told them).

 

As a worst case scenario take a look at EasyCar Club - although I wouldn't advise this as you are not in control of the car's return condition when you choose to send it back to VWFS.

 

Just trying to think of ways to reduce your monthly expenditure.

 

Otherwise enjoy it as best you can for as short a time as you "need", and maybe explore whether it could indeed be rejected.

The retailers offering those prices won't do 0% with it (at least, not the dealers I spoke to - and some wouldn't do any finance at all, literally cash sale only). The dealers at least near me seem really busy at the moment, so I guess they don't need to.

The uk is a large place and you can get quotes and buy from any dealer.

 

Discounts on Yeti's and new models are hard work but on the non-discounted Fabias big discounts are possible.

 

Cheers

Lee

I'm not wanting to argue on what discounts are or aren't possible... just pointing out that the 0% deal, since it runs with PCP and over 42 months, is financially the same as 15% discount with competative finance. Yes, you can squeeze another 1% out the APR if you look around, and yes you might get 20% instead of 15% off list... but anyone would be doing well to get 20% off list *and* 0%, unless they're lucky and walk into a dealer on the last day of a month who is one car away from the next volume rebate... in which case they could likely give you car for nothing at all (I once saw a Hyundai something-or-other go through like that at literally half price).

Edited 9 February, 201412 yr by pearce_jj

The retailers offering those prices won't do 0% with it (at least, not the dealers I spoke to - and some wouldn't do any finance at all, literally cash sale only). The dealers at least near me seem really busy at the moment, so I guess they don't need to.

This is exactly what I came across initially. I spoke with 4 dealers and none of them would talk more than a few hundred pounds discount with the 0%. They all said the same thing about the 0% being funded with part of their margin.....

In thte end in a final countdown last day of the month scenario I managed to get 13% off (2500) and also have the 0% PCP. This apparently was only because Skoda offered the dealer an extra manufacturer allowance to get the car sold to a customer on the last day of the month or else they would have been forced to register it as a demo (had been sat in showroom too long).

I haven't spotted yours around, which area of Southampton are you in if you don't mind me asking?

Keep it and enjoy it, maybe we can start a local club

You mention running costs, are you doing a lot of miles? I don't really see a difference from the 2.0 diesel I drove before when you are paying slightly less at the pump for petrol even if you run it on Super.

Mine is a 62 plate which I got in December. I paid 11000 for it from Sparshatts, 6600 miles, black vinyl roof, cruise control. It is rallye green. They gave me a free set of matts and 6 months tax. Despite awaiting its new engine this week I think its a fantastic car and can't wait to get it back.

Edited 9 February, 201412 yr by austenw90

The way i negotiate with dealers is to do my research before hand.  Find out exactly what model and spec i want and go into the dealer with the print outs.  IE drive the deal, carfile quotes etc.  If they wont match it I simply leave and go to another dealer.  Failing that i will just order from the broker.

 

Paid just under £15k for a VRS last year, was the 3rd dealer i tried but got there in the end.  I would never pay £20k for a Fabia - I paid less than that for my Octavia and also got 0%!!!

 

PCP is a con in my opinion.

 

As for economy ours gets a max of 35mpg whereas my Octy VRS diesel gets 50 to 55mpg without really trying....yet the VED is cheaper on the Fabia!

PCP is a con in my opinion.

 

It's not on the current 0% deal.

Usually I'd agree.

I'm a little surprised at the lack of compassion guys.  The OP has admitted he is a young guy (guessing 21 by the forum name) that maybe didn't make the best choices probably when faced with a car he really wanted and a persuasive sales person at the dealership.

 

If none of you ever made mistakes with cars when younger then I'd suggest you weren't trying hard enough at being young!!!

 

Jvickery for what it's worth, tough as it is going to be to suck up the rest of the PCP or at least until you can hand back, that's really the only financially viable option, that is unless you are sat on a wodge of savings you are happy to part with.  Be thankful for the fact that the Fabby vRS can be driven economically and insurance is generally reasonable.

 

best of luck

I'm not (that) young and I thought I got a good deal on my Monte Carlo - went to sign the paperwork with the broker and found it was on a HP, not a loan agreement.

Yes, I could have walked, with my (getting) leggy Superb Greenline II, driven the 100+ miles back to home, with my cranky 3 year old daughter.  Instead, I signed my life away, figuring I was keeping it forever.

 

Fast forward six months, change of circumstance (job change, house move etc) meant it didn't look sensible to keep the Monte - but it was in neg eq at under a year old.  I checked again the other day, at 18 months old - it still "owes" me £2000+.

 

Now, I can keep it and drive it - I like it.  BUT I know the car isn't ideal for what I want, I want other stuff and it makes me ANGRY that I wasn't more meticulous (as I normally would be).  I put it down to a bad day and I may speak to my local dealer about a deal on changing it and wrapping the deficit up in the finance on a new car, but the deposit, plus the £2k deficit will put a dent in the deniable slush fund (which stands at about £50...).

 

So, I imagine the OP is kicking himself - got a good car, somehow with ever extra known to man and a bunch of dubious stuff added on, to get max amount on list price.  Then "rewarded" with 0% finance, but c.£400 a month is steep.

 

Come to sell and it's rock and a hard place.  Talk to some other dealers - see if they'll wrap your car and deficit in with a new car deal, go at month end and try to offer a deposit - even £500 or so.  They might let you, it might help to research cars and list prices (for example a 200bhp Kia Pro'Ceed GT is about £20k) and see if they'll play ball for a lower monthly payment.

Just meandered over to the fabia forum and I'm gobsmacked.

My octavia vrs tdi was £16000, with 3 years servicing and gap.

It's very scary reading about negative equity! I think mine was in positive from the moment I bought it.

A run-out model? Currently list on the derv VRS is >£24k.

I'm a little surprised at the lack of compassion guys.  The OP has admitted he is a young guy (guessing 21 by the forum name) that maybe didn't make the best choices probably when faced with a car he really wanted and a persuasive sales person at the dealership.

 

If none of you ever made mistakes with cars when younger then I'd suggest you weren't trying hard enough at being young!!!

 

Oh, I have a fair amount of compassion for the OP, and I still get a lot of things wrong, but I think I'd have been a little more sympathetic if the thread title was "Have I messed up my sums?" or "Why has my car lost so much value?" or perhaps "Am I getting a good deal" rather than "Have I been ripped off by dealer?"

 

The answer is no, the dealer has not ripped you off; you have failed to agree as good a deal as you needed to to afford the car.

2013 mk2 FL.

I paid £13000 for a new 62reg vrs with vat free was £17500. It was £13500 got £500 off as well. traded in 6 months later for a monte tech got £10500 trade in

Keeping hold of the car as long as possible makes the best financial sense in the long run. I suppose the big headache/snag is if the OP can't afford the steep monthly payments anymore (384/month). I'm presuming he is looking to get rid as he signed up for the deal but is now finding making the payments tricky. Swapping this early for any othher reason wouldn't make much sense as to stand any chance of getting a lower monthly figure would involve dropping down to a very basic/cheap model. I suppose in this scenario the only other option would be to default on the payments and let he finance company reposses the vehicle..... But bang goes your credit rating :-(

Keeping hold of the car as long as possible makes the best financial sense in the long run. I suppose the big headache/snag is if the OP can't afford the steep monthly payments anymore (384/month). I'm presuming he is looking to get rid as he signed up for the deal but is now finding making the payments tricky. Swapping this early for any othher reason wouldn't make much sense as to stand any chance of getting a lower monthly figure would involve dropping down to a very basic/cheap model. I suppose in this scenario the only other option would be to default on the payments and let he finance company reposses the vehicle..... But bang goes your credit rating :-(

 

Yup, this is the old rock and a hard place if this is the case. 

Hang in there fella! I wouldnt say u got ripped off u only get 1 chance to haggle and u didn't! I paid 16,000 for a corsa on new on a 62 plate good job I had gap insurance and back to invoice price! They paid my car off and I got a 4800 cheque in the post. HOPEFULLY SOMEONE DOESN'T SMASH INTO U!