Been an had a look at the Mazda 3. Very nice imho. Could chop the Octy in for the Se-l version for £200 a month. Loads of kit on it. Felt a bit fresher and sportier than the rapid I drove yesterday. Reviews seem pretty favourable and mazda are doing 0% finance on the pcp too

I have never paid 1k for my mortgage. In fact for most of last year I had no mortgage. Took out a small 30k one over 10 years when I moved down south seeing as the houses are more expensive. Lol.

Don't ever accept the first offer a dealer gives you. They have room to manoeuvre on price, you just need to play hard ball with them. Let them know that if they don't do the deal you are after then you will walk away and they will lose any sale from you.

So after some workings out, the mazda 3 would actually cost me less over the same 36 month period than the current Octy has. 

 

HHHmmmmmmm, very tempted

 

Had a drive of one and was quite impressed to be honest, even though i was driving in "diesel" mode at first. lol

I've been looking at a mk3vrs for brand new it was roughly 8400 down and 270 a month for 3 years with about 10k outstanding. Priced up a pre registered one so 4 years pop was 6500 down 170 a month and 9500 outstanding. Its a no brainer really just need to find a pre reg petrol manual and were away

I've been looking at a mk3vrs for brand new it was roughly 8400 down and 270 a month for 3 years with about 10k outstanding. Priced up a pre registered one so 4 years pop was 6500 down 170 a month and 9500 outstanding. Its a no brainer really just need to find a pre reg petrol manual and were away

Thats about what I will be paying for a TSI DSG with £3300 of extras added, not really bothered about the monthly payment since I usually pay cash but can get more than 2.8% if I keep the money

Think the new price that was on included the winter pack

PCPs on secondhand cars rarely work out to be good deals. But on a new car they can be the cheapest way to get into a shiny 'Branney'. This is because dealers often have incentives to sell new cars on PCPs. Also I would recommend if you are looking for a 36 month PCP deal, also explore the 48 month option too. The reason is I have just done this myself and it worked out surprisingly well.

 

I looked at an M135 on 36 months PCP. I gave the sales manager the monthly payment figure we had to hit and the dealers computer reverse engineered the deposit required. So this way, we haggled on the deposit, but sadly we weren't quite able to reach an agreeable figure this way  :( However we then explored the 48 month option and it worked like this (in this application at least). The settlement figure at 36 months of the 48 month contract was actually £13 cheaper that the final payment (GFV) of the same deal on a 36 month contract (so that's a teeny win for the 48 month PCP), we kept the payments at the same rate, but...........................the deposit required was £1,300 less!

 

So I pay less up front, pay the same monthly figure and can get out of the car at 36 months with the same settlement/GFV figure in both cases. The only slight downside is the Voluntary Termination point moved to 32 months in my case, but this is not a problem if you intend to keep the car for the best part of 3 years. Finance is a bit of a minefield, but it's worth exploring options and seeing if the dealer can find a bitter way for you without costing you more money. I would advise always use a calculator and do the sums yourself if you are worried.

 

 I should say that when I said second-hand cars rarely work out that well on PCPs, this is because you can often haggle a similar price on a brand new car compared to an ex demo or preregister vehicle.. I can't think of any sensible car that you couldn't get over 10% off with a 'discussion ' over the price. Some cars can give 25% and beyond. Look at the fantastic 335D BMW (seriously quick car) and you should be able to get around £9,000+ off a new one. There is about £5,500 dealer support money from the manufacturer on this model. plus the dealer had his share of profit in the car too. 10% of a £40+K car is easy to work out. When you also see the GFVs on a PCP aren't too badly hit by this heavy discounting, the car suddenly becomes much more available than you might have first thought.

Edited 15 February, 201511 yr by Lady Elanore

I've been looking at a mk3vrs for brand new it was roughly 8400 down and 270 a month for 3 years with about 10k outstanding. Priced up a pre registered one so 4 years pop was 6500 down 170 a month and 9500 outstanding. Its a no brainer really just need to find a pre reg petrol manual and were away

That new "deal" is very expensive! When you spread the deposit over the years it works out at over £500/month , for an octavia... :-(

The used option is cheaper, but still 350/month, once the deposit is taken into account.

That's the thing with all manufacturers p&p schemes though. The mother in laws deal on a pokey 1l Yaris is shocking for what you get car wise

That new "deal" is very expensive! When you spread the deposit over the years it works out at over £500/month , for an octavia... :-(

The used option is cheaper, but still 350/month, once the deposit is taken into account.

I thought that. Wondered if the new car had little discount or the GFV was particularly low. It's fairly rare that a used PCP works out so much better if it is a nearly new one.

That's the thing with all manufacturers p&p schemes though. The mother in laws deal on a pokey 1l Yaris is shocking for what you get car wise

I sold hundreds of PCPs when I was in the trade and they are a very flexible tool for the dealer, mainly because they are buoyed up by the manufacturer. That's why I was surprised that a used car was so much cheaper. The finance rates that dealers use aren't so heavily subsidised in general. We used to get a £500 bung on any Black Horse deal we did, even for relatively small amounts.

It's ok the sales rep was surprised as well the car only had 89 miles on it also.

That new "deal" is very expensive! When you spread the deposit over the years it works out at over £500/month , for an octavia... :-(

The used option is cheaper, but still 350/month, once the deposit is taken into account.

Used option is £305 pm over 48 months you save about £3500 on the example given but you need to keep the car an extra year and its not new 

 

Octavias are loads of money now with a few options its easy to get to £28k

I must admit I'm slightly perplexed by the figures. You do have to pay an extra £3,600 in total to get a similar balloon payment, but there again, at 36 months into the 48 month agreement, the balloon must be a fair bit higher than the £10K balloon of the original (new 3 year deal)) car offer. I'm guessing somewhere around £12.5-13K.

 

That's the funny thing about finance. Do you prioritise the monthly payments, or the amount of deposit, or even the residual value vs GFV. I guess you pays your money......... Both these ways of financing the cars work out to more similar than first meets the eye. The MOST important bit is that you are happy with your purchase and your deal. And don't let anyone tell you otherwise

 

I am assuming all these figures are relating to a PCP  btw

Used option is £305 pm over 48 months you save about £3500 on the example given but you need to keep the car an extra year and its not new 

 

Octavias are loads of money now with a few options its easy to get to £28k

Ahh yes sorry I missed the fact the used deal was being quoted over 4 years not 3 as the new one was! Not really a like-for-like comparison.

In that case the figures don't make any sense at all as Amanda says above. Very odd that the MGFV is virtually the same....

Most of the time a used/pre reg car is much more expensive per month on a PCP because you lose manufacturer support, have a higher APR and a significantly lower MGFV.

My local dealer quoted me 7.9% apr finance on a pre owned yeti but a new Octy is 2.8% from Skoda. As I said I usually pay cash this will be my first pcp purchase but I'll be keeping it 5 or 6 years anyway my only consideration is the cost of borrowing the money rather than monthly payments etc

Ahh yes sorry I missed the fact the used deal was being quoted over 4 years not 3 as the new one was! Not really a like-for-like comparison.

In that case the figures don't make any sense at all as Amanda says above. Very odd that the MGFV is virtually the same....

Most of the time a used/pre reg car is much more expensive per month on a PCP because you lose manufacturer support, have a higher APR and a significantly lower MGFV.

My guess is they put the deal together themselves (probably with a Business manager somewhere in the background) and artificially raised the GFV to make the sums work.

So after much web surfing and using carfile and carwow, i now have a choice for my budget of:-

 

 

a new Octi TDi SE or a Mazda 3 SE-L 

 

 

The Mazda has so much kit on it and is a very nice car to drive, but the Octy is bigger, slower but does not have anywhere like the amount of kit of the 3.

 

Got a decision to make in the next few days i think. 

Edited 18 February, 201511 yr by Guest