All us early MK3 vRS buyers - What are your plans?

[sniperpenguin]

Well, it is soon going to be that time that the masses of us who obtained our MK3 vRS on the ridiculously good 0% PCP / free servicing / bugger all deposit deal have to start deciding what to do at the end of the term.

Lets have a little experiment - State your variant, when your term is coming to an end, the GFMV and whether you plan to keep / trade / hand back.

I'll go first, although I was a little behind the curve .

Variant - vRS Diesel Estate
PCP End date - December '16
GFMV - 10,500

Plan? - unsure.... The car has been great. Its either a keeper (Car will have about 40K on it by December) or will be traded for another company-style car if a mad deal is on. Ironically, if I had a race blue hatch rather than the white estate, it would be definitely kept (Missus would buy it).

So what is everyone else planning?

 

[gullyg]

VRS diesel estate 29k miles race blue

Pcp end date - may 2017 / 10k miles per year

Gfmv -10500

Plan. Trade in against a Volvo XC60 D5 R design lux nav auto in October. I'm in neg equity so will need to put a bit to the trade in to clear the finance.

Edited 6 April, 2016 by gullyg

[vRSAnt]

Keep as long as possible I only just got it relatively speaking !

 

Oh ..... you mean EARLY vrs buyers. As opposed to early vrs buyers like me lol. I'm buying your car you are selling is the difference

 

I'm guessing being PCP dictates you to change...whilst for me it was opportunity to get a great car at a ridiculously good price.

[jbyrnes82]

i had my first mk3 vrs on the 0% deal free servicing etc and my friend who worked at the dealer said he would expect that skoda uk would need to bring back at least 0% if not an equivalent deal 3 years later once all those on the 0% deal came close to an end to enable them to roll over into a new car, otherwise all those handing in a good spec vrs would either have a hefty increase in payments or would need to opt for an alternative model to keep the same payment per month.

 

i am waiting with anticipation to see if his prophecy comes true......

[NikEd]

I'm in neg equity so will need to put a bit to the trade in to clear the finance.

I'm pretty new to PCP deals and car finance in general so I'm more than likely wrong but I was always under the impression that the gmfv figure prevented you from going into negative equity on the car? Otherwise you would have to pay to clear the finance if you walk away from it at then end of the term?

[glosrich]

A skoda dealer will take it back at the GMFV, but other dealers will only give you what its really worth which is probably less.

 

Another way to tie you in to another Skoda I expect.

[NikEd]

Looks like I was just lucky with my qashqai then... Didn't realise that

[grantcolborn]

I would guess 10.5k as a gfmv isn't a bad price come December and 40k miles, a 13 plate petrol VRS estate with 27k miles is only worth that just now according to Webuyanycar.com and a few dealers I exchanged emails with

Sent from my iPhone using Tapatalk

[sworrall]

Variant - vRS Diesel Estate

PCP End date - March '17 (warranty end of sept 16)

GFMV - think around 10,000 will have to check

Plan

Ordered a Bmw Msport 335dx touring for May delivery

I took out a superb at the end of last year and was looking at swapping mine for a 4x4 version or an octy 4x4 vrs. Unfortunately the numbers from the dealer didn't really stack up with a small discount on the superb as it was new plus low residuals that we all know about by now with the mk3. I prefer to buy from dealers so didn't really want to go down the broker route due to the px. I don't think with my payments that the octy would have ever hit the expected GFV for px

My mate put me onto some good deals that Bmw were doing and I then found a dealer down south via a forum that was doing even better deals.

So. I've ended up going for a 3.0l diesel with a bit more power than the octy. A few options. An £10,900 main dealer discount and the same px in May that the Skoda dealer was offering last Nov. I expect the Skoda px for May would be massively lower and leave me in larger neg equity. Bmw are probably offsetting some discount to make the px better.

I was originally looking at a 330d but crazily the 335d worked out £2 per month cheaper due to bigger discount and higher GFV!

There's a little negative equity still so I'm going to try and sell private for a little more but it won't be a problem to cover it if it doesn't sell and goes to px.

I'll be sad to leave the octy but I'm looking forward to trying a different manufacturer for a change. It's a pity that the Skoda suv isn't out now as I quite liked the look of that.

[gullyg]

I'm pretty new to PCP deals and car finance in general so I'm more than likely wrong but I was always under the impression that the gmfv figure prevented you from going into negative equity on the car? Otherwise you would have to pay to clear the finance if you walk away from it at then end of the term?

 

OK so I'm looking to trade mine in at month 35 of a 42 month PCP.  It's projecting I'll owe about 13k for the car at that point but the car will only be worth about 11 on trade in, so I've got to find 2k plus the silly money for the Volvo.

 

One thing I'm hoping is that I can "lose" the neg equity in the discount on the new car (I know I'm no gaining but it makes me feel better ).

 

A skoda dealer will take it back at the GMFV, but other dealers will only give you what its really worth which is probably less.

 

Another way to tie you in to another Skoda I expect.

 

If you are at the end of your PCP.  Otherwise it seems to depend on dealer but generally they seem to look at book value as long as it's over the GFV.

[LewJo]

Well I had a VRS TSI DSG Hatch

My mileage ended up higher than the agreed amount so I traded it in 12 months early and bought a VRS 4x4. Great car but the power difference is very noticeable and will take some time to get used to, the grip however is phenomenal!

[Auric Goldfinger]

A skoda dealer will take it back at the GMFV, but other dealers will only give you what its really worth which is probably less.

 

Another way to tie you in to another Skoda I expect.

 

I was under the impression that ANY dealer, Ford, Kia or alike have to honour the GMFV.

[Dodgy]

Ordered a Bmw Msport 335dx touring for May delivery

 

Hi Stu, care to share the monthly payment detail on the BMW? I'm in the same boat as you more or less

[sworrall]

Hi Stu, care to share the monthly payment detail on the BMW? I'm in the same boat as you more or less

will send you a pm Dave

[Niall]

Variant - SE 4x4 150

PCP End Date - Jan 2017

GFV - £8,290 (60k miles 36 month deal)

 

I was invited in to the Dealer a fortnight ago for the 'we can do you an early deal' chat. Upshot, they can't, car still in negative equity at the 26 month stage. Quite disappointing when 4x4s have traditionally held their value better. More annoying when I specced it harder than normal due to the lack of an Elegance 4x4 at the time of ordering (which would protect the price of the options on resale a bit as if you wanted an Elegance you couldn't get one, unless you bought mine), which was duly released a week before my car arrived.........

 

It's all rather put me off PCP as it's likely any deposit I hoped to carry through will be gone thanks to the poor residuals, which using the Mk2 as a guide I wasn't expecting.

 

Ideally I'd like a slightly 'tougher' Estate car, and for some reason sold on wanting ACC in the next car if I can get it. Current thoughts for change:

 

1. Nearly new - Subaru Outback 2.0D with the CVT and eyesight (put off by no DAB, and it's CVT - although admittedly the best there is)
2. Nearly new - Passat Alltrack 150 (more standard kit so no needing to get in a knot finding the spec you want second hand)
3. 3 year old - Audi A6 Allroad 3.0 245PS+ (do I really want a three year old car to replace a three year old car? ACC unlikely, but the engine, the engine!)
4. New - Scout (I would want to option it up a bit and insanity is doing the same thing again and expecting a different result....)
5. Sod all of the above as it's all money down the drain, buy the car at GFV and run it into the ground (and maybe (but probably not) go mad, buy and fit scout front and rear bumpers plus side cladding and run slightly larger tyres all the time).

 

Decisions, decisions! Probably got till the autumn to make my mind up.

[banksie]

VRS Tsi hatch

PCP end date Nov16

GFMV £7500

Plan at the moment is to keep the car. Keep having a look at Golf R's though.

Difficulty I'm having is that if I sell or go for another car then the new owner of my VRS is getting a good car. Mainly motorway miles, rear seats never sat in, excellent condition. So why should I sell? It's the same quandary every time you come to sell though! I'm paying £250/month at the moment and I'm looking at leasing a Golf R for £360/month. I can afford the increase in payments, but do I want to spend the money on a car, when the one I've got can do the job I want it to do equally as well?

Plus I keep getting tempted by all you people on this forum adding bits to your cars!

[alexl94]

Not exactly in the same boat as a lot of you, but the lease on my vRS TDI Estate ends in March 2017 and I am currently struggling to find any alternatives that give me the best compromise of space, equipment and speed that take my fancy. Without breaking the bank! 

 

I'm considering a vRS 230 Estate, although I'm praying that the Golf R Estate deal that came out yesterday on 6+23 at £202 a month with £1800 initial payment can still be around in December, although the chance of that happening is pretty much zero :(

Edited 7 April, 2016 by alexl94

[sniperpenguin]

Good to see all the responses - thanks for sharing.

Funnily enough, this popped up on HouUKDeals. - Golf R Estate lease deal that bonkers cheap.
http://www.hotukdeals.com/deals/golf-r-dsg-estate-lease-deal-203-a-month-6600-total-2-year-offer-gateway2lease-2426798

 

I know Lease deals arent for everyone, but that is tough to ignore. 

[alexl94]

Good to see all the responses - thanks for sharing.

Funnily enough, this popped up on HouUKDeals. - Golf R Estate lease deal that bonkers cheap.

http://www.hotukdeals.com/deals/golf-r-dsg-estate-lease-deal-203-a-month-6600-total-2-year-offer-gateway2lease-2426798

 

I know Lease deals arent for everyone, but that is tough to ignore. 

Unbelievable value at the moment. You can get the same price on lease directly from VW therefore saving you the admin fee and in my experience, dealers care a lot more whereas the lease brokers once they've got their fee are hardly interested! Only 7.2ppm excess mileage too.

[Niall]

20k miles per year, rough farm tracks; as much as I'd love an R Estate, it's not for me.........

Edited 7 April, 2016 by Niall

[TonyD]

Variant: TSI estate.

PCP due to end October16

Replaced and took ownership of same 3 weeks ago but with some changes to spec. Took off park assistant, kept ACC and added Canton and DSG.

This way I kept the 0%. As on PCP with no deposit car value same as value left on contract

[Dodgy]

You can get the same price on lease directly from VW therefore saving you the admin fee and in my experience

 

Is that as straight forward as it sounds? Go to VW dealer, demand same price as quoted in link further up the thread?

[glosrich]

I was under the impression that ANY dealer, Ford, Kia or alike have to honour the GMFV.

 

Nope.

 

The GMFV is what you owe Skoda finance for the car, if you want to buy it.

 

If its worth less, which its seems that they are,  than it might be best to just hand it back to them, or buy/refinance it and keep it.

 

They want you to buy another Skoda,  they will offer you the GMFV or above in part exchange against a Skoda. so you have some equity in the new car/finance deal.

 

Another brand dealership will only offer you what its worth, which is probably less than the GMFV. Then you would have to pay the neg. equity somewhere in your deal with them for a new car.

Edited 7 April, 2016 by glosrich

[sniperpenguin]

Old deal expired - HotUKDeals has replaced it with the following..

http://www.hotukdeals.com/deals/volkswagen-golf-estate-2-0-tsi-r-dsg-300bhp-personal-lease-10k-miles-pa-2-400-dep-2427041

[alexl94]

Is that as straight forward as it sounds? Go to VW dealer, demand same price as quoted in link further up the thread?

Pretty much! The cars are being financed through VWFS even the ones from the brokers. So your local dealerships sales team should be able to match the figures, if they cant i'd ask to speak to their fleet department who handle the personal contract hires and they should quote the same just minus the admin fee! 

 

It's the same method I used for my vRS lease. I got a quote online from a broker, went to my local dealership (Alex Lawrie Skoda in Liverpool) and they matched the deal and threw in metallic paint free as it was better for the resale of the vehicle once I hand it back.