Anyone on a PCH deal

[Rutty555]

Hi, is anyone on a PCH deal already? Any facts real world knowledge you could share?

Ie: you the owner pay the rental every month and have to service it yourself every year?

You have to put tyres on it and return it with good tyres

You have to insure it and get gap insurance?

If any bulbs go you have to replace them?

If the brakes need changing you replace them..

Anyone got an idiots guide or add to this to just get a jump on reading all the small print?

Cheers

[cortina63]

Hi, is anyone on a PCH deal already? Any facts real world knowledge you could share?

Ie: you the owner pay the rental every month and have to service it yourself every year?

You have to put tyres on it and return it with good tyres

You have to insure it and get gap insurance?

If any bulbs go you have to replace them?

If the brakes need changing you replace them..

Anyone got an idiots guide or add to this to just get a jump on reading all the small print?

Cheers

iL be picking mine up in 3weeks.originally was to be on pcp, but with overall costs and depriciation went on pch, it has a few extras that pushed the payment up, paid 1500 deposit and bout 240 for 24 months 10k miles, the only annoying thing is that vw finance want 50 admin to put on my private reg

[themanwithnoaim]

Private plate is the same on a PCP, I liked "TSI14OCT" for £499 before I got mine but, as it was a PCP and never to be my car I decided against it.

[Rutty555]

iL be picking mine up in 3weeks.originally was to be on pcp, but with overall costs and depriciation went on pch, it has a few extras that pushed the payment up, paid 1500 deposit and bout 240 for 24 months 10k miles, the only annoying thing is that vw finance want 50 admin to put on my private reg

Great job, anything you picked up in the small print?

[e301988325i]

Hi, is anyone on a PCH deal already? Any facts real world knowledge you could share?

Ie: you the owner pay the rental every month and have to service it yourself every year?

You have to put tyres on it and return it with good tyres

You have to insure it and get gap insurance?

If any bulbs go you have to replace them?

If the brakes need changing you replace them..

Anyone got an idiots guide or add to this to just get a jump on reading all the small print?

Cheers

We've had ours for 10days.

With VWFS you are liable for 100% of payments so you can not exit. (V4B (google this) only 50% of payments)

T&Cs state same model of tyres should be used ( I doubt this is enforced ).

You have to have fully comp insurance.

Excess mileage charge will be around 10p mile inc VAT.

You have to service it at a main dealer, you are liable for service and maintenance as though it was your car.

We got servicing & maintenance plus tyres included in monthly payment. Fixed cost end of.

BVLRA is the code of conduct for returning leased vehicles.

Any additional options have to be paid for in full over the course of your lease.

[Rutty555]

We've had ours for 10days.

With VWFS you are liable for 100% of payments so you can not exit. (V4B (google this) only 50% of payments)

T&Cs state same model of tyres should be used ( I doubt this is enforced ).

You have to have fully comp insurance.

Excess mileage charge will be around 10p mile inc VAT.

You have to service it at a main dealer, you are liable for service and maintenance as though it was your car.

We got servicing & maintenance plus tyres included in monthly payment. Fixed cost end of.

BVLRA is the code of conduct for returning leased vehicles.

Any additional options have to be paid for in full over the course of your lease.

Exellent:

My options were paid upfront: got free tax for 3 year duration:

I was offered and agreed to extra £11 a month for all in servicing and maintanance but NO tyres.

Can you give back after paying half of contract? Sorry unclear on this.

[e301988325i]

Exellent:

My options were paid upfront: got free tax for 3 year duration:

I was offered and agreed to extra £11 a month for all in servicing and maintanance but NO tyres.

Can you give back after paying half of contract? Sorry unclear on this.

No you can't give it back half way but with another company (v4b) you're only liable for 50% of remaining payments, it's assumed this is in case of total loss or hard times etc.

[Rutty555]

Thanks

[randomeclipse]

I recently took out a PCP contract, but reading the above I'm not necessarily disappointed I didn't go for PCH. Pro's and Cons for both it seems.

[cortina63]

Private plate is the same on a PCP, I liked "TSI14OCT" for £499 before I got mine but, as it was a PCP and never to be my car I decided against it.

nO its not with pcp the car is registered in your name so you can do it yourself, just pay dvla 80 quid, not 80quid plus 50 quid for vw finance to put the form in an envalope and post it

[cortina63]

Exellent:

My options were paid upfront: got free tax for 3 year duration:

I was offered and agreed to extra £11 a month for all in servicing and maintanance but NO tyres.

Can you give back after paying half of contract? Sorry unclear on this.

tHanks for posting this reply, i didnt know that the options could be paid for upfront, il do this with mine, then gives peace of mind that your not been taken for a ride and paying over the odds for stuff

[pipsyp]

Indeed with a PCP it is technically speaking your car all the while you continue to make payments; its basically HP with the majority of loan payment held to the end with the same consumer protections in place like VT etc. With PCH its no different to a Business Lease but you pay the VAT on it, the car is not yours so there are numerous stipulations on what you can do to the car etc etc. Can be a v cheap way to run a VERY nice car but I would suggest if you lease a car and either dont take v good care of it or abuse the rules in the small print you'll often pay dearly.

They work well for fastidious people who keep their cars immaculate and dont use them beyond the agreed mileage term.

[Rutty555]

tHanks for posting this reply, i didnt know that the options could be paid for upfront, il do this with mine, then gives peace of mind that your not been taken for a ride and paying over the odds for stuff

Hi cortina: re options. I only had black pack and windows. Cost was £350. I paid dealer that, but it was actually just taken by dealer as a deposit. The dealer is now going to refund me £350 when i get the car.

Let me state i did not no this at the time!

I owe skoda the £350! What they do is 10 days after you get the car they charge you your deposit payment and your options. Ie if you took the £250 deposit £250 a month deal and had £350 options your 1st payment is £600. Then a month later and for rest of hire your onto your £250 a month.

So im getting my £350 back on day i take delivery, then 10 days later Skoda will charge me!

Seems the dealer had to take something in the way of me just walking in and getting them to build me a car!

Hope this all makes sense?

[Rutty555]

Indeed with a PCP it is technically speaking your car all the while you continue to make payments; its basically HP with the majority of loan payment held to the end with the same consumer protections in place like VT etc. With PCH its no different to a Business Lease but you pay the VAT on it, the car is not yours so there are numerous stipulations on what you can do to the car etc etc. Can be a v cheap way to run a VERY nice car but I would suggest if you lease a car and either dont take v good care of it or abuse the rules in the small print you'll often pay dearly.

They work well for fastidious people who keep their cars immaculate and dont use them beyond the agreed mileage term.

Hi, numurous stipulations??

Could you expand on this, add any facts

Cheers, thats why i made post, incase anybody had read or has knowledge of small print.

[Czechers]

Beware paying a large amount upfront. In the event of an accident or theft, under the terms of the lease agreement any insurance payout is assigned to the lease company. Not a massive issue if the car is able to be returned to you, but if it's a total loss early on in the lease term you may not be left with much to show for your deposit.

[e301988325i]

Indeed with a PCP it is technically speaking your car all the while you continue to make payments; its basically HP with the majority of loan payment held to the end with the same consumer protections in place like VT etc. With PCH its no different to a Business Lease but you pay the VAT on it, the car is not yours so there are numerous stipulations on what you can do to the car etc etc. Can be a v cheap way to run a VERY nice car but I would suggest if you lease a car and either dont take v good care of it or abuse the rules in the small print you'll often pay dearly.

They work well for fastidious people who keep their cars immaculate and dont use them beyond the agreed mileage term.

Excess mileage on an octavia is 10p mile inc vat, so £100 for every thousand miles extra, if you've been sensible upfront then this really shouldn't be a worry.

In terms of looking after the vehicle and fair wear and tear, there is a code of conduct BVRLA or something that you should check your lease company adheres to.

Agreed it's not yours and you need permission for modifications, but brand new and modding must be the tiniest percentage of owners.

[aldouk]

Do you have to pay £50 to take a personalised plate off again?

[iamdave]

Doing the simpsons one, 199per month for the estate vrs 8k per annum 7.2p inc vat for extra mileage 2 years.  Probably do around the 8k mark but even if i do 10k - 20k over the term it will be an extra 288 quid to hand over at the end that i wont lose any sleep over!  

[pipsyp]

Insurance is often more expensive on a lease as you are not the registered keeper. Was certainly the case on a number of long term rental cars I had some years ago that I had to insure myself.

[Czechers]

While insuring a lease car isn't as straightforward as insuring a car owned outright, it isn't as difficult or as expensive as it used to be. It's a case of shopping around for the best deal. Like with other things, some insurers are more bothered than others. Direct Line didn't distinguish one way or the other on their online quotes I got from them, nor did Privilege. Meanwhile others charged a small premium for it, and at the other end of the spectrum some won't insure lease cars at all.

[cortina63]

Do you have to pay £50 to take a personalised plate off again?

yes + £80 transfer fee,

[cortina63]

Excess mileage on an octavia is 10p mile inc vat, so £100 for every thousand miles extra, if you've been sensible upfront then this really shouldn't be a worry.

In terms of looking after the vehicle and fair wear and tear, there is a code of conduct BVRLA or something that you should check your lease company adheres to.

Agreed it's not yours and you need permission for modifications, but brand new and modding must be the tiniest percentage of owners.

7.2 inc vat, with vw finance deals, iv gone for 2 yr deal with 10k per year, i know im going to go over,so im feeding an isa every month,id rather pay the excess for what iv used rather than over estimate what il need and then pay for unused milage allowance

[loskie]

Doing the simpsons one, 199per month for the estate vrs 8k per annum 7.2p inc vat for extra mileage 2 years.  Probably do around the 8k mark but even if i do 10k - 20k over the term it will be an extra 288 quid to hand over at the end that i wont lose any sleep over!

Will it be better to terminate a month from the end of the contract? Then you could possibly get out of the cost of a service.

[ednmra]

Certainly sounds to me as if interest-free PCP (which I'm on) is better, especially as it includes free servicing. But I suppose it depends on what you intend to do with the car later.

[iamdave]

Will it be better to terminate a month from the end of the contract? Then you could possibly get out of the cost of a service.

 

I didnt think you could to be honest - thought it was in an agreement/contract to pay 24 times.