Help please, SWMBO is considering a replacement for her Octy 2 vRS, & the Octy 3 vRS could easily be her next car.

 

It appears that Skoda is currently offering 0% finance again, even on the vRS230, but we cannot decide on how we should do this.

 

Her car would be all or most of the initial deposit, so bearing in mind that it's interest-free should we go for the biggest monthly repayments & the smallest balloon payment, or 't other war round?

 

Since we can afford to buy a car with cash, the amount of the repayments isn't relevant, the money will be taken from income or the same saving we'd use to buy it outright, it just seems to be more sensible to use Skoda's money rather than ours!

 

This premise could be totally wrong, if it would be much cheaper to buy the same car at a discounted price + a "sensible" trade-in offer!

 

Any advice would be welcome, I've never used PCP so it's a whole new concept to me.

 

 

TIA, DC.

 

Personally my theory was to use as little of my own money as possible. Paid £500 quid deposit, then monthly payments based on 5k miles per year, even though I do 20k miles.

I had a private buyer lined up for my old car so trade in wasn't a factor for me. My intention at the time was to keep it long term and pay the balloon at the end.

The great thing with pcp, in my view, is the flexibility to change your original plan at the end of the term, ie instead of keeping it I could trade it against another new one.

I had the same dilemma.

 

The 0% option initially looked very appealing.

 

I decided not to buy, having found a pre reg model much cheaper.  Skoda then contacted me and said I could have the car £3,500 cheaper if I didn't go the 0% route.  Bought it on that basis.

 

I might've made it up, but it seemed to me that Skoda dealerships have to pay Skoda for the privilege of offering 0%, and maybe pass this cost to the punter, where they can. 

 

Gaz 

Bang on that's exactly what I have done with mine.

500 min payment then 42 months based at 5k a year.

You only pay the extra mileage at the end of the agreement anyway !

Check if you can negotiate a sensible discount for outright purchase (etiher at the local dealership, carwow, or an online broker).

Especially if you would be intending  to settle the final PCP payment, and keep the car for the long-term.

At current interest rates, any discount is likely to be greater than the interest lost on the money used to purchase the car.   

 

If you are only intending to keep the car for 2 or 3 years, it could be worth comparing the PCP costs against the likely depreciation

of a used (say 18 months) vehicle over the same ownership period. That is, assuming you would consider buying a second hand car. 

What Car have estimated depreciation charts.

Check if you can negotiate a sensible discount for outright purchase (etiher at the local dealership, carwow, or an online broker).

Especially if you would be intending  to settle the final PCP payment, and keep the car for the long-term.

At current interest rates, any discount is likely to be greater than the interest lost on the money used to purchase the car.   

 

If you are only intending to keep the car for 2 or 3 years, it could be worth comparing the PCP costs against the likely depreciation

of a used (say 18 months) vehicle over the same ownership period. That is, assuming you would consider buying a second hand car. 

What Car have estimated depreciation charts.

Thanks Nigel et all for your thoughts.

 

If we want a vRS 230 it would have to be new,but I'm also watching out for decent pre-owned cars. 

 

I'll have to see just where the 0% comes from, a gift from Skoda or the dealer margin.

 

Thanks again, DC.

If you are sure that you will let the car go after 2 or 3 years it may be worthwhile considering a personal lease. VRS TSI's can be had for around £300pm with £900 deposit over 2 or 3 years. A Golf R hatch/estate can also had for £320pm inclusive. Both with 10K miles pa.

 

If you are really set on PCP. place the lowest deposit possible and don't be over generous on the options. Options tend not to contribute towards final resale value so they bump the monthly payments up by a fair whack.

Use carwow to get a guide discount price, to take to your local dealer/s.

They will discount and give 0%.

Carwow also sends you special deals.

I was offered a Vrs TDi estate for £18950.

I had the same dilemma.

 

The 0% option initially looked very appealing.

 

I decided not to buy, having found a pre reg model much cheaper.  Skoda then contacted me and said I could have the car £3,500 cheaper if I didn't go the 0% route.  Bought it on that basis.

 

I might've made it up, but it seemed to me that Skoda dealerships have to pay Skoda for the privilege of offering 0%, and maybe pass this cost to the punter, where they can. 

 

Gaz

It's about margin, on finance and the car.

Here is a sample 3-year 10K miles pa PCH deal for a VRS TSI DSG.

Initial Payment £1584

35x £263.99 incl VAT

Booking fee £150

 

Total over 3 years = £10,974 (average £305pm fully inclusive)

 

It will be tough finding a PCP deal better than this, but of course PCP offers the option to buy at the end.

Use carwow to get a guide discount price, to take to your local dealer/s.

They will discount and give 0%.

Carwow also sends you special deals.

I was offered a Vrs TDi estate for £18950.

18950!!!!! That's almost a 25 percent discount?! What was the catch on that particular deal?

Edited 14 September, 201510 yr by RobbySpurs

Bang on that's exactly what I have done with mine.

500 min payment then 42 months based at 5k a year.

You only pay the extra mileage at the end of the agreement anyway !

You don'y pay for the additional mileage if you buy the car ie. make the ballon payment 

18950!!!!! That's almost a 25 percent discount?! What was the catch on that particular deal?

 

PCH has no option to buy at the end of the term and they do go over the car with a fine toothcomb looking for damage therefore, if you don't go over mileage, do care for the car like one of your kids and arn't interested in buying it, PCH is the way to go.

18950!!!!! That's almost a 25 percent discount?! What was the catch on that particular deal?

Blade Skoda Gloucester, call them. Its a Black Magic one, probably low spec for that price I assume.

Blade Skoda Gloucester, call them. Its a Black Magic one, probably low spec for that price I assume.

Ahh, it's stock and not a factory build. Don't need to call as have mine already. Just surprised about the price!

Has anyone acquired any PCH or pcp deals from the dealers yet for the 230?. I have asked one for PCH figures but no reply yet.

Edited 14 September, 201510 yr by jamiemad

Has anyone acquired any PCH or pcp deals from the dealers yet for the 230?. I have asked one for PCH figures but no reply yet.

I've been told that dealers can't place an official order for a vRS230 untill early September. Also, it's going to be a limited edition of only 500 cars worldwide (?) there won't be any discounts....

 

So,how is it possible to find discounted prices for a vRS230 from the online brokers?

 

DC

I've been told that dealers can't place an official order for a vRS230 untill early September. Also, it's going to be a limited edition of only 500 cars worldwide (?) there won't be any discounts....

 

So,how is it possible to find discounted prices for a vRS230 from the online brokers?

 

DC

...it's half way through September though. Try DTD,Gbcars and orange wheels; plenty of brokers offering 3k or more discount

They may offer a discounted price..........doesn't mean it's available.

 

Tried DTD for MB 350e, with what was a 11k discount...........once I went to place the order the deal was off the table. Not saying this is the case everytime, but just my experience. Plenty of here have used DTD and got the price advertised.

 

The brokers are only as good as the information they get from dealers, maybe a few are running at a loss to get customers interested.

 

Still with a £3k discount, it's a bargain!!! lol

...it's half way through September though. Try DTD,Gbcars and orange wheels; plenty of brokers offering 3k or more discount

Thanks for the advice.

 

DC

I've been told that dealers can't place an official order for a vRS230 untill early September. Also, it's going to be a limited edition of only 500 cars worldwide (?) there won't be any discounts....

 

So,how is it possible to find discounted prices for a vRS230 from the online brokers?

 

DC

 

The rRS230 is also not available on 0% PCP.... I got a phone call the other day after it being approved on 0% and then Skoda UK released a internal memo on the Monday saying it was not part of )5 deal and would be on approx 8% interest, he even showed me the Memo.   Was called to go in and sign paperwork as it had already been approved so it could get paid and cleared before they realised.....Luckily it has all gone through on 0% and its Skodas problem now as its all done.

 

It arrived at dealers today so should be colecting my 230 on Monday.  Only ordered it last weekend.  Dealer originally ordered it as a Demo car but already have a VRS on demo so sold it to me !! 

I got caught out on the no 0% on VRS230, but hadn't signed anything so lost out :-(

Orville, there's much better lease deals than that on the TSI. Circa £200 a month inc VAT.

The 0% deals are a con. Brokers get better discounts and even with Apr it's still cheaper.

But you have all of the hassle of selling your car privately. Wayyy too much trouble & hassle.