Another Citigone!

[Markyg]

I've been thinking about VTing my citigo for  a while now as I have just passed the 50% mark on my payments. And being offered my dads (not very exciting ) old car as hes quitting driving I though id go for it.

 

I phoned up VWFS on Friday and it was all done in a minute.

 

If anyone is thinking of this its really easy. They check you have paid to 50% mark and then ask you if you want to go  ahead. Once I said yes, that was it. The local auction house will arrange collection of the car and that is it. If the collection runs into next month I will be billed, but refunded as ive arranged to VT the car before the payment date.

 

Also, they confirmed that mileage doesn't matter if you VT (in my case im well under my milage!) and as long as the car is drivable and there are no scratches or dents down to the bare metal they aren't bothered about the condition either.

 

[TheInsanity1234]

What happens if you do have a couple of paint chips on the bumper?

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[bluecar1]

curious, I understood that VT was the only scenario excess mileage was applied?

 

have you taken photos of the exterior and interior of the car to be able to prove condition in event of dispute?

[Markyg]

The only scenario which excess mileage applies is if you hand the car back at the end of your agreement.

 

I will take some photos, but VWFS did say they are normally lenient about the condition of the car as it just goes straight to auction. As long as its road worthy they don't care.

 

I'd imagine a couple of chips on the bumper would come under fair wear and tear anyway.

[RickW]

Perhaps just to be cautious and prudent it may be good to take photo's anyway.

[Markyg]

I definitely will.

[VRS Mike]

How many month = 50%? Mines a three year deal and I think I want rid earlier

[mannyo]

Remember its 50% of the total finance INCLUDING the balloon payment repaid if on PCP.  If you are on PCP then you will not hit that 50% until towards the end of the agreement due to the balloon payment and if the balloon payment is greater than 50% of the finance then you will never hit the VT point. Also remember it is 50% of the finance and not 50% of the payments.

 

If you want to VT then its better to have it on traditional HP because you reach the 50% point quicker. Details of that point should be in the finance agreement.

[Markyg]

Mine was 42 months which started in Sept 2013. My total balance was 10k so my 50% point was 5k. I stupidly put a grand down though despite being advised not to by the salesman :(

When they release the Mark 2 with the tsi I might get another citigo. If not I'm gonna enjoy my free car for a year then get myself a 10 year old 3 litre beemer

[Markyg]

And it's easier to vt on this deal as it's 0% and the balloon payment is about 35-38% of the list price on a citigo.

[Tim1631]

It's a good idea. However try and get finance again with the compmay that you VT with. Good luck

[Markyg]

My mate has Vt'd 3 cars in a row now with VW and never had any bother getting another. In fact, in one case they recommended he VT it!

[fabandy]

Good to know that VWF are fair good to deal with (and I have noticed that the excess mileage charges, where applicable, are much less then other manufacturers too). Thanks for putting my mind at rest Markyg that things really are easy which ever way you choose to do it. Andy. PS Hope you enjoy your new car and I also hope there will be a Citigo tsi - guess we will see what the Up version is like quite soon.

[Markyg]

Vwfs were really easy to deal with. Done over the phone in less than 5 minutes.

As long as you pay every month they want you to buy another car from them.

[malcster]

Sorry what does vt mean ??

[Markyg]

Vt means voluntary termination. On any finance agreement once you have paid 50% of the total amount you can hand the goods back and end the agreement.

[malcster]

Vt means voluntary termination. On any finance agreement once you have paid 50% of the total amount you can hand the goods back and end the agreement.

Thank you sorry for hijacking the thread

[Markyg]

No problem mate.

[Didescharlie]

It's a good idea. However try and get finance again with the compmay that you VT with. Good luck

 Why wouldn't you get finance again? VT was recommended to me by Skoda Finance and advised there is no downside to doing so.

[malcster]

Surely if there is no negative equity in the car they would jump at the chance to let you have another

[Markyg]

Even if there is. It's not like vw will lose out.

I was in negative equity, my car at under 3 year old was worth under 4k!! I owed 5k on it. The situation wasn't going to get any better. Vw keep the balloon payment high on the trio to make the monthly payments sensible! They know that most people are going to hand the car back at the end or vt the agreement. They are just hoping that you take another one out with them and will usually give you a good incentive to do so.

[malcster]

The salesman pretty much confirmed what you say markyg

He told us if you hand the car back at the end of lease and walk away if it's neg equity that's not your problem

But if you have another they suddenly come up with a small deposit for your next one

My citigo was worth pretty much what we owed but when I told them I wanted a limited edition roomster on lease and I don't want to put a deposit in this time (got burned big time last time) it was suddenly worth £500 more to be used As a deposit

Very clever way of attempting to tie you to the brand for life

[bluecar1]

when I rang up last year to get a settlement figure for my old GLII the guy at VWFS was surprised I didn't want to VT it so yep they are kean on it

 

I suppose they don't have another car sat on a dealer forecourt for some time, instead it goes to auction and they get there cash in days 

[Eeeekkk]

Just wondering if they've collected yours yet and what the process is like, how thorough they are, etc? I just VTed my two year old Up after finding out it won't be worth anything near the final payment. I'm getting a supermarket car park scratch fixed on the bumper and have cleaned the seats, but not sure if I should do much more. And do they actually bill the excess mileage? I'm only about 5k over. Thanks.

[Defenderben]

On a VT the mileage is irrelevant

Edited 21 May, 2016 by Defenderben