Sitting here in my (unmodded) '63 plate TDi vRS, I'm wondering what to do when the PCP is approaching completion as I'm currently 50% through and time flies   .

 

Spec - White, black pack, Ahmundsen, spare

 

I've done just over 20K in her so far and apart from the usual rattle behind the dash (sorted) and break in a wire (sorted) she has been great. 

 

Hand her back - Probably the worst option, I don't think residuals have dropped that bad?

 

Pay her off and keep - GMFV is 10.5K , so this isn't a painful option especially as I put aside any mileage I get through work in a bid to offset the final bill. I receive a car allowance so that would happily cover any ongoing loan.

 

Trade her in - A tough one, this. Chances are the deal that was on the vRS wont be around again and the longer I wait on the PCP the less potential bargaining power I'll have (as I'll be forced into a decision). Apart from another vRS there isnt really anything else in the Skoda lineup to interest me, and I dont see myself getting as good a trade-in elsewhere.

 

What are other people's plans?

I'm about half way through mine too and I'm less convinced about the residuals, I think it will be close!

 

I'm considering 2 options at the mo, one is to hang onto it as my "practical" car (currently alongside my Volvo convertible), the other is to look at what I can get on a PCH deal. It would take a lot of persuasion to get me in a new Octavia, but I will be checking out the new Superb.

Trade it in and hope that I've got around £2k available for a deposit on another one, whether that be a vRS (TSI or TDI) or slightly lower spec or even a Yeti (although that may be eliminated as I hear they're getting rid of the powerful engines!).

 

Although with my mileage, I expect to be between 4-6k miles under the top limit, which I think I asked for 7k miles pa (so 21k miles). If my estimate is correct around about 16k miles at trade in, how that will affect the price I get I don't know.

Mine will be paid off and run for a good few more years as it will only have 45k by then.

Mine is 16 months in with just under 14k on the clock, by the end of the PCP, I expect her to be circa 30k -32k on the clock which is nowt really.

As much as the trade in option appeals, I will probably pay the balance and keep her for at least a couple more years.

If webuyanycar say they'll give me more than the GFV then I'll buy and sell it, if not it can go back, I've got the rear torture beam suspension and thats not something I wanna live with long term however, at £3,210.24 p.a. (service, warranty & breakdown) I don't see any more car (hate disease-sels and manuals) for the money out there right now let alone, another 28 months down the line.

Mine is 16 months in with just under 14k on the clock, by the end of the PCP, I expect her to be circa 30k -32k on the clock which is nowt really.

As much as the trade in option appeals, I will probably pay the balance and keep her for at least a couple more years.

That is my plan, unless the numbers stack up on a Superb, although I will have nearer 50k on the clock. The O2 went to 180k relatively issue free apart from the Stage1 map and variable servicing causing it to eat a few turbos along the way .........

 

Lesson learnt - change the oil and filter every 10k

Doing about 15k miles a year so I'll be at around 50k miles after 42 months, probably will buy it out and keep it running for as long as I can. Original plan was to keep it for 8 - 10 years, guess it depends what happens with diesel rules in the UK but it's plenty enough car for us at the moment. Making a lot of use of that huge boot!

Residuals...hmm..

 

Octy Elegance wagon + Canton + Colombus. 6 months old with 4K miles. List price was £25K, bought for £20K, valuation at dealer at the weekend £15K.... Ouch.

Residuals...hmm..

 

Octy Elegance wagon + Canton + Colombus. 6 months old with 4K miles. List price was £25K, bought for £20K, valuation at dealer at the weekend £15K.... Ouch.

 

Was that the valuation on his forecourt, or what he would give you trade-in?

 

Unless the residuals absolutely tank, I cant see myself handing the keys back over at the end of the PCP. I used a £1K deposit (before anyone says "whats the point?", it was just to keep the monthly payments down!) so the choice is chop-in for another Octy (Superb is too big, and the Fabia is a disappointment) or pay off the car and keep/sell.

 

I do regret not getting the colour I wanted (Rally Green) but I suppose the Candy White is a more appealing trade-in option...

Keeping mine. I got 7K for my trade in. Stuck 1K deposit down, banked the 6K and ring fenced it for taking a chunk out of the 'balloon' at end of PCP term.

Was planning to keep mine long term, and will be over the mileage limit. Will make my mind up nearer the time (sept 2017) though now, as if Diesel cars get hammered for tax/ city access etc then it will be handed back - GFV might look pretty good if diesel values fall off a cliff !

I am just under halfway with mine and am quite undecided.

 

The car industry has just had sales better than before the crash, and as a result current residuals have been affected. By the time I come to change my car residuals might have changed.

 

Last night I read about car residuals for 3 year old cars on the AutoExpress website, petrol/hybrid 39.3, diesel 38.9 and petrol 38.3% - not a lot in it.

 

 

I nearly bought a Toyota Auris Hybrid and not the Octavia and my next car might be a hybrid.

I'm only 6 months into my scheme so no idea yet. As some said above, mine will also be very low mileage by 3 years.

I think it will depend on what other models might be available by then. Including in other makes.

Also, of course, it will depend on what I experience with it during the 3 years - so far I'm pleased with it, but who knows!?

Im currently planning to keep mine.

If my current mileage keeps up it will be on around 84k miles by the time the 42 months are up. ill be way over my mileage (12k p/a) so id have to pay quite a lot on that penalty.

Its the Petrol vrs, and DSG, so i am wondering if its wise, however, i doubt ill find anything i want with the same value second hand at that time, and ill have the benefit of knowing the car has been looked after by just myself and its 80% motorway miles so wear and tear should be minimal compared to town driving cars?

Trade it in early and get a Golf R DSG :-) 350 bhp 4WD with a FSR box fitted!

Sounds good to me, the one thing I regret is going from my Mk2 vRS DSG to mk3 vRS manual (gearbox not the car, car is a big improvement)

Edited 20 May, 201511 yr by xpower

Trade it in early and get a Golf R DSG :-) 350 bhp 4WD with a FSR box fitted!

Sounds good to me, the one thing I regret is going from my Mk2 vRS DSG to mk3 vRS manual (gearbox not the car, car is a big improvement)

 

I can see a lot of MK3 vRS estates getting traded in for this car..... 

Trade it in early and get a Golf R DSG :-) 350 bhp 4WD with a FSR box fitted!

Sounds good to me, the one thing I regret is going from my Mk2 vRS DSG to mk3 vRS manual (gearbox not the car, car is a big improvement)

Don't foget the pedal box, kinda bring it all to life so quickly.

Had the discussion with my dealer about going over mileage. They said it only becomes a factor if Skoda/VW Finance get the car back.

I assume from this that what he was intending to do was use the part ex money to clear the finance with Skoda with the dealer then "owning" the car and put it on his forecourt.

Whether his part ex price is better than paying Skoda the mileage charge we'll have to wait and see.......but someone's got to take the hit somewhere!

Mine'll be getting traded in for something else. The monthly cost has flatlined car ownership and is a cost I'm prepared to and thankfully able to bear. The interesting thing about a PCP is that provided you pick something with good residuals it may be cheaper for the next three year period (2017-2020) to change to a more upmarket marque and pay less overall (provided you never plan on 'buying' the car).

 

Still, no shopping to be done until next autumn so I'm not getting in too much of a tizz about it at the moment, just enjoying the car.

Mine is haif way through, and is slow to make any equity,so im thinking of changing it for a hatch anyway so might do it now on a pch, as its cheaper per month and the 70 quid a month saving will go into a new account and give me my equity in 2years time when it goes back, then il be a cash buyer with no px, which is a bonus if changing marques, as iv found in the past

Mine is haif way through, and is slow to make any equity,so im thinking of changing it for a hatch anyway so might do it now on a pch, as its cheaper per month and the 70 quid a month saving will go into a new account and give me my equity in 2years time when it goes back, then il be a cash buyer with no px, which is a bonus if changing marques, as iv found in the past

Sorry please tell me how you get outta PCP only half way through without throwing dollars at it, I'd like to know

I think you get get out of the agreement once you have paid half the amount. just give them the car back but they will go through the car with a fine tooth comb and send you a bill for everything they find wrong. I think it also affects your credit rating

 

Disclaimer: - I think

AFAIK early termination does not affect your credit rating. As long as you have paid half of the agreement and each payment has been made on time I see no reason why it should affect your RIGHT to terminate.

 

By all means, I would definitely be double checking with the finance company but also someone like Experian to confirm the above.

 

Granted no finance company wants the car handed back but it is more of an inconvenience to them.

 

Do bear in mind though that as you may be exercising your right to cancel and walk away, this will be subject to the overall condition of the car and I'd be pretty certain an assessor would be sent out.

Again, I think what you do if you go through to the end of the PCP (mine is 3 years from new) depends on what exchange car/s available, what you think of the present car, and what deals are in operation at that time.

The only thing that persuaded me was the 0% interest compared with the cash price, although buying it outright for cash might well have got an added discount on the deal.