My Sport is back.

[Coops]

What's the update on this Stormchaser? Was going to post in the other Rapid rejection thread.

Do you still have it?

[Stormchaser]

Hi

Yes I'm still lumbered with it. On September 1st it's a year old and will be having its 1st service. So while the dealers got it I'm going to start the ball rolling again :(

They are expecting it with a long list of accumulated faults. I'll be in a loan car while they "try" to rectify all of it. I'm standing my ground this time and not accepting any BS.

Faults so far:

Fuel gauge (again)

Incorrect lowering springs fitted to the front of car. (Under goodwill)

All door speakers rattle/vibrate

N/S/R wind noise

N/S/R rattles/knocking noises

Rear wiper sticks halfway up the window

Humming/buzzing sound in the car(very annoying)

Voltage stability problem

Poor throttle response/flat spots/turbo lag/loss of boost

Whistling noise on cold start

Excessive fuel consumption(gauge?)

Very unstable at motorway speeds

Rear number plate hanging off

Probably more things will crop up in the meantime.

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[Tim1631]

I have no idea why you accepted it back. It would be long gone now if it was me.

[Stormchaser]

All these problems have happened since. The car is £3500 in neg equity. There's no chance of getting rid. Believe me I've tried multiple times.

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[Stormchaser]

I have no idea why you accepted it back. It would be long gone now if it was me.

That's because you're not in the situation iam.

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[camelspyyder]

I never understood your negative equity situation.  

 

The faults started after you had paid no deposit and about 3 or 4 PCP payments so you had what - about £900 in it.

 

How did the PCP contract stop you chucking the keys back (for this unsatisfactory product) and walking away?

Edited 31 July, 2015 by camelspyyder

[Stormchaser]

It's based on the cars actual value at the time and what I owe.

VWFS wanted dealer to pay the neg equity and they wouldn't.

Skoda UK didn't want to either.

VWFS wouldn't write it off.

I didn't want to pay it.

This was the situation. No one wants to pay. I was only 6 months in on a 42 month contract. At the time the car was worth £10K and I owed £13500.

Now it's worth even less and I owe £12350. Vicious circle. VWFS told me the other day I'm about £5K away from surrendering the car to walk away or 20 months :(

I'm not dealing with Skoda ever again. I wish I bought the Suzuki Swift Sport now which was fully loaded as standard for £12K(at that time )

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[Coops]

Hi

Yes I'm still lumbered with it. On September 1st it's a year old and will be having its 1st service. So while the dealers got it I'm going to start the ball rolling again :(

They are expecting it with a long list of accumulated faults. I'll be in a loan car while they "try" to rectify all of it. I'm standing my ground this time and not accepting any BS.

Faults so far:

Fuel gauge (again)

Incorrect lowering springs fitted to the front of car. (Under goodwill)

All door speakers rattle/vibrate

N/S/R wind noise

N/S/R rattles/knocking noises

Rear wiper sticks halfway up the window

Humming/buzzing sound in the car(very annoying)

Voltage stability problem

Poor throttle response/flat spots/turbo lag/loss of boost

Whistling noise on cold start

Excessive fuel consumption(gauge?)

Very unstable at motorway speeds

Rear number plate hanging off

Probably more things will crop up in the meantime.

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Guess they'll probably fix the number plate out of that list........just.

 

Terrible situation to be in and I do feel for you. Knowing it's a car you hate and not being able to release it.

[camelspyyder]

Is it insured against fire? 

[RapidPaul]

Heh - that's where gap insurance would have been handy!

[meb90]

It's based on the cars actual value at the time and what I owe.

VWFS wanted dealer to pay the neg equity and they wouldn't.

Skoda UK didn't want to either.

VWFS wouldn't write it off.

I didn't want to pay it.

This was the situation. No one wants to pay. I was only 6 months in on a 42 month contract. At the time the car was worth £10K and I owed £13500.

Now it's worth even less and I owe £12350. Vicious circle. VWFS told me the other day I'm about £5K away from surrendering the car to walk away or 20 months :(

I'm not dealing with Skoda ever again. I wish I bought the Suzuki Swift Sport now which was fully loaded as standard for £12K(at that time )

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Random thought - I assume this £3500 situation will still be there at the end of the contract, so what will happen?

 

I sympathise with your situation, its a real shame that Skoda's customer service wasn't good. My experience has been OK except one incident that was badly handled.

 

I hope some of the problems get fixed at the service!

[Stormchaser]

Is it insured against fire?

Umm

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[Stormchaser]

Random thought - I assume this £3500 situation will still be there at the end of the contract, so what will happen?

I sympathise with your situation, its a real shame that Skoda's customer service wasn't good. My experience has been OK except one incident that was badly handled.

I hope some of the problems get fixed at the service!

I'm not sure. This is the difference at the moment. It's not worth much and I owe too much :(

Chasing game with finance really. I guarantee will always be out of pocket with cars. I hope 2nd time round I will never see it again. Shame really as my other 3 Skodas were perfect (probably because they were real made ones)it's certainly spoilt my liking for them now. I have lots of photographic proof this time to go against there 2 BS reports of it being "fixed".

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[RapidPaul]

Negative equity on PCP is relatively normal. On PCP you make regular payments of the same amount every month. However, cars don't depreciate in such a linear fashion. They depreciate most quickly in the first year before slowing down. PCP deals are worked out so that you will almost certainly come out of negative equity by the time the deal ends.

There are ways to avoid or minimise negative equity. You can pay a big deposit up front, but unless you choose to buy the car at the end of the deal you can kiss goodbye to all that hard-earned. You could also PCP an ex-demo, stock or 1 year old car. By side-stepping the first big chunck of depreciation, you can manage a negative equity situation more effectively.

Unfortunately, mimimal deposit + brand new car + 42 month deal to minimise monthly payments = maximum negative equity. Look on the bright side though, it would be a hell of a lot worse with a BMW

[Stormchaser]

Don't know if straight HP would of been a better option to get out of easier?

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[camelspyyder]

An uber-cheap bank loan would at least have given you freedom to sell the car and pay off what was owed.

[RapidPaul]

Not sure about HP, but with a bank loan you could do what you like with the car. You'd still have ended up in negative equity by this stage though, and your monthly payments would have been higher as none of the equity would have been set to one side for the balloon payment.

Look on the bright side, I heard about a chap who bought a new BMW 330D on PCP only to lose his job a couple of months later. As he couldn't afford the monthly payments, he had to hand the car back and settle a £10k bill for the negative equity. Something to think about...

[Stormchaser]

Been offered by my dealer a pre reg (15) Rapid SE Sport Spaceback 1.6tdi in Race Blue with Pano Roof as extra. Here's the deal.

Spaceback up at £15995

I owe £12350

They said they will sink my Neg Equity into it and stretch the term(PCP) to 49 months with me contributing 0 which comes out at £320pm :(

I'm paying £242 now over 42 months. I'm thinking no way on this.

Seriously expensive.

Thoughts ?

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[RapidPaul]

You'd just be making a bad situation worse. Within a few months you'll have doubled your negative equity (as the new car will have negative equity of its own as well) and you'll be locked into an unfavourable finance deal for over four years.

You'd be better off sucking up your situation and seeing out your current PCP. Either that or pushing your car into a canal and claiming on the insurance.* I dunno, sometimes it seems as though your dealer doesn't have your best interests at heart As an aside, what if you chop your car in against a car worth less - say a 1 year old Spaceback? Would they even consider that? Probably not.

* This is a joke. Do not do this.

Edited 7 August, 2015 by RapidPaul

[chrisgreen]

Can they stretch it to 60 months (5years) to bring the monthly down, or can you stump up a few quid.? Deal is very good and it fixes the main issue by allowing you to get rid of your Friday car pronto. Mindful you won't want an £80 increase in your monthly, but a higher monthly is probably better than living with a problem car you hate.

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[Stormchaser]

Hmm 5 years Chris is like doubling the nightmare.

I do believe now that they don't have my interests at heart. I've tried many times with them and they've always said newer and more expensive they can do something with. £320 pm is like vrs money and more prestige car payments to me. I can get a C class Merc for £299 and a Lexus for £279. Obviously I'm not going to. Hmm decisions do I like Paul said suck it up or try the rejection again in a few weeks when it's serviced?

It's bearable but you know what it's like when you know something isn't right. Thanks so far for your thoughts.

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[RapidPaul]

If you try to reject it again, would you be prepared to accept another Rapid as a like-for-like replacement? If not, I think you'll end up being stuck in another impasse between the dealer and VWFS about your negative equity.

Edited 8 August, 2015 by RapidPaul

[camelspyyder]

This dealer is the one who fitted incorrect springs hey?

 

Could you take the car to an independent engineer (AA?) -  get it assessed as unsafe and then threaten legal action against the dealer who did the springs.

 

They are complete bas***** to you as far as I can see - They already bullied you into having it back after formal rejection.

 

I would say independent consumer advice is the first thing you need.

[Stormchaser]

If you try to reject it again, would you be prepared to accept another Rapid as a like-for-like replacement? .

Iam actually thinking about this again as it would cut out all the bribery and BS from VWFS and months with the car at the dealers.

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[Stormchaser]

This dealer is the one who fitted incorrect springs hey?

Could you take the car to an independent engineer (AA?) - get it assessed as unsafe and then threaten legal action against the dealer who did the springs.

They are complete bas***** to you as far as I can see - They already bullied you into having it back after formal rejection.

I would say independent consumer advice is the first thing you need.

I will be using this if it came to it.

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