Anybody Actually Got Any PCP Equity?

[tigermad]

PCH is a hire agreement, you're renting the car and have to give it back at the end of the term

I see, so no option to buy. Maybe that would be better for me then.

[silver1011]

There is an option to buy, but it isn't guaranteed, Skoda UK can say no if they wish.

 

My PCH paperwork says I can apply to Skoda UK towards the end of my agreement and request a purchase price.

[drand82]

Sounds like people need to bargain harder in the showroom. Paying anything close to list price is crazy; you are being ripped off.

[k3vkr]

Sounds like people need to bargain harder in the showroom. Paying anything close to list price is crazy; you are being ripped off.

Yes...

I used car wow.. And walked out of Arnold Clark x2 and also Henrys before going back to Henrys as they called and said they would match the best price I had and throw in the first service.

Think if I had gone down the broker route, I could have saved even more aswell, but, wanted the convenience of the supplying dealer locally

[mork23]

I originally had a MKII VRS TDI which was in negative equity by £1.1k - I knew this already as I was able to login to my finance account for black horse at the time.  I went in to my Skoda dealer (where I initially purchased the vechicle from) to see what my options were.  I ended up walking out a couple of weeks later having agreed and placed an order for my current car - MKIII VRS TDI.  Skoda said don't worry about the negative equity and also put in the then, £1k dealer deposit and I chucked in £800 of my own (reluctantly) to bring the payments down a bit further.  I couldn't argue with that offer seeing as I also had a couple of extras thrown in and drove them hard to bring down the monthly payments although I think maybe I could've gone a bit further.

 

Conclusion - you're in a good bargining place if you return for further business.  Skoda (or at least my local dealer) even say, we need to get you a good deal because we want you back for more.  I'm not expecting any equity out of this car (as many others have already said) and will probably switch to a lease at the end of this deal to save some further £s and I've some saving to do for what will be a bigger desposit for leasing.  Finding a good dealer is always difficult, some are great some are poor.  If you can find a good one it's possible they'll keep you coming back and helping you each time but often we all have to learn the hard way first. 

[999rigger]

For a VT, you have to have paid at least 50% of the finance value which for me is after 36 months.

[tigermad]

For a VT, you have to have paid at least 50% of the finance value which for me is after 36 months.

 

Thats about the same as me.

[Ciderspace]

Im looking at 38 months...

[tigermad]

Not sure what deal the garage can do for me with still 18 months to go. Will be interesting to find out. I will let them know that I will be using the VT option next year if I don't get a good offer.

[andyvee]

Not sure what deal the garage can do for me with still 18 months to go. Will be interesting to find out. I will let them know that I will be using the VT option next year if I don't get a good offer.

Which won't bother the garage in the slightest, VWFS will just send your car to auction and you still need to buy another car ......

[tigermad]

Which won't bother the garage in the slightest, VWFS will just send your car to auction and you still need to buy another car ......

So I haven't got anything to bargain with then :-(

[tigermad]

Oh well will just see them Saturday and see what they say.

[cheezemonkhai]

Go to Audi next time. That's what i am doing. You pay more per month but you are in positive equity after 2 years and fantastic quality cars!

You're in positive equity, because you're paying more per month no?

Plus that assumes they don't lose their prized place any time soon after VAGate

[silver1011]

Why buy?

 

Skoda Octavia vRS hatchback, diesel, manual, no factory options other than metallic paint.

 

PCH (lease), 2 years, 8,000 miles per year.

 

£1,163 deposit (month 1).

23 further months @ £193.20.

TOTAL: £5,606 or divided by the total term (24 months) = £233.60 per month.

 

http://www.parkvehicles.co.uk/skoda-offers/view/1110/Skoda-Octavia-20-TDI-VRS--pound161PM

 

List price on the same car is £25,110.

 

Assuming a healthy discount (say £2,000) so £23,110, then at 2 years old with 16,000 miles on it, what would the screen price be through Skoda's approved used car scheme?

 

Less than £17,504? If so then a PCH costs less than a brand new purchase will depreciate. 

[DrTh]

Business user contract hire, please contact us for personal rates.  All figures subject to VAT. Free UK delivery and No doument Fees.

[tigermad]

Why buy?

Skoda Octavia vRS hatchback, diesel, manual, no factory options other than metallic paint.

PCH (lease), 2 years, 8,000 miles per year.

£1,163 deposit (month 1).

23 further months @ £193.20.

TOTAL: £5,606 or divided by the total term (24 months) = £233.60 per month.

http://www.parkvehicles.co.uk/skoda-offers/view/1110/Skoda-Octavia-20-TDI-VRS--pound161PM

List price on the same car is £25,110.

Assuming a healthy discount (say £2,000) so £23,110, then at 2 years old with 16,000 miles on it, what would the screen price be through Skoda's approved used car scheme?

Less than £17,504? If so then a PCH costs less than a brand new purchase will depreciate.

You don't get the o% Apr deal on Pch at the moment do you like you do on Pcp. Plus I will only have about a £200 deposit.

[silver1011]

Business user contract hire, please contact us for personal rates.  All figures subject to VAT. Free UK delivery and No doument Fees.

 

The numbers I quoted are personal rates.

 

The numbers on the website are ex-VAT (business), simply add 20% for personal.

[silver1011]

You don't get the o% Apr deal on Pch at the moment do you like you do on Pcp. Plus I will only have about a £200 deposit.

 

No, but don't get caught up on deposit contributions, APR rates, free fuel etc. etc.

 

All fluffy marketing designed to confuse.

 

You'll be hard pressed to drive away in a brand new vRS for less than £200 per month on a Skoda finance offer, whether that be PCP, PCH or straight forward finance.

 

Don't worry about the low deposit, you can reduce the deposit and up the monthlies to suit.

 

It isn't for me to pry into personal finances but only being able to gather a £200 deposit might suggest that you should save up a bit more before signing up to a £25K car.

[tigermad]

No, but don't get caught up on deposit contributions, APR rates, free fuel etc. etc.

All fluffy marketing designed to confuse.

You'll be hard pressed to drive away in a brand new vRS for less than £200 per month on a Skoda finance offer, whether that be PCP, PCH or straight forward finance.

Don't worry about the low deposit, you can reduce the deposit and up the monthlies to suit.

It isn't for me to pry into personal finances but only being able to gather a £200 deposit might suggest that you should save up a bit more before signing up to a £25K car.

I only had a small deposit when I went for the pcp deal I am currently on. I can afford the payment just fine. I don't really expect to come away on Saturday with doing a deal on a vrs anyway. I think the figures will be way too high.

[zom414]

I'm glad I found this thread as my PCP is coming to an end but all the facts/figures are making my head hurt

 

My PCP for my Fabia vRS runs out in September so we've looked at the Monte Carlo 1.2 TSI DSG today.  I have 5k left to pay and the dealer offered me 6.3k in PX with monthly payments of £212 and a deposit of £3590 (this figure includes the equity from the PX and the rest from us).  Got a few questions if some kind soul has the time to answer them for me:

 

Am I right in believing that it would be cheaper for us to get the Monte on PCH as there's a very high chance we'll be back in the same place in 3 years time handing the Monte back in getting another car? 

 

What would I do with my vRS that I currently have on PCP?  Surely they wouldn't buy it off me for the 6.3K they quoted for PX?

 

Do all dealers do PCH?  Going back there tomorrow to have a drive in the car so would be nice to have some more knowledge to help me getting what I want.

[tigermad]

I'm glad I found this thread as my PCP is coming to an end but all the facts/figures are making my head hurt

My PCP for my Fabia vRS runs out in September so we've looked at the Monte Carlo 1.2 TSI DSG today. I have 5k left to pay and the dealer offered me 6.3k in PX with monthly payments of £212 and a deposit of £3590 (this figure includes the equity from the PX and the rest from us). Got a few questions if some kind soul has the time to answer them for me:

Am I right in believing that it would be cheaper for us to get the Monte on PCH as there's a very high chance we'll be back in the same place in 3 years time handing the Monte back in getting another car?

What would I do with my vRS that I currently have on PCP? Surely they wouldn't buy it off me for the 6.3K they quoted for PX?

Do all dealers do PCH? Going back there tomorrow to have a drive in the car so would be nice to have some more knowledge to help me getting what I want.

I'm wondering why your payments will be quite high. How long is that over? I'm driving an Octavia over 42 months at £230 a month and I only had £500 deposit for it. You see to be paying a lot of deposit and still high payments.

[zom414]

I'm wondering why your payments will be quite high. How long is that over? I'm driving an Octavia over 42 months at £230 a month and I only had £500 deposit for it. You see to be paying a lot of deposit and still high payments.

It's over 3 years.  The Fabia vRS was the first time I've ever used PCP so we were a bit naive when it came to the deposit etc, we were bamboozled with facts & figures.  I assumed it was better to put a bigger deposit down and have higher monthly payments on PCP so that the baloon payment at the end would be smaller so if we wanted to purchase the car we could.  We were guided by some extent by the salesman but in hindsight I should have done more homework but it is what it is   However, it looks like we'll be in the same position again in 3 years time where we'll want to swap cars rather than keep so the PCH option sounds better.

[silver1011]

I'm glad I found this thread as my PCP is coming to an end but all the facts/figures are making my head hurt

 

My PCP for my Fabia vRS runs out in September so we've looked at the Monte Carlo 1.2 TSI DSG today.  I have 5k left to pay and the dealer offered me 6.3k in PX with monthly payments of £212 and a deposit of £3590 (this figure includes the equity from the PX and the rest from us).  Got a few questions if some kind soul has the time to answer them for me:

 

Am I right in believing that it would be cheaper for us to get the Monte on PCH as there's a very high chance we'll be back in the same place in 3 years time handing the Monte back in getting another car? 

 

What would I do with my vRS that I currently have on PCP?  Surely they wouldn't buy it off me for the 6.3K they quoted for PX?

 

Do all dealers do PCH?  Going back there tomorrow to have a drive in the car so would be nice to have some more knowledge to help me getting what I want.

 

If the dealer is offering £6,300 as a part-ex on the vRS then it is worth at least £7,000 as a private sale.

 

Pay the £5,000 to own the car, sell it for £7,000 and use the £2,000 (plus another £250) as a deposit on this...

 

http://www.simpsonsskoda.co.uk/new-car-offers/yeti-99/ 

 

Then pay £99 per month for two years, yes, only £99!

 

All including VAT, no fees and direct from a Skoda dealer. 8,000 miles per year and metallic paint and road fund licence included.

 

So £2,250 + £2,277 (23x £99) = £4,527, or £189 per month all-in. Makes the price you've had quoted on a new Fabia seem ridiculously expensive.

 

Deals on the Yeti right now are amazing. If you have to have a Fabia Monte Carlo then they'll be able to quote for you.

 

More offers here, including a Yeti Monte Carlo  ...

 

http://www.simpsonsskoda.co.uk/new-car-offers/pch-offers/

Edited 8 July, 2016 by silver1011

[SurreyJohn]

It's over 3 years.  The Fabia vRS was the first time I've ever used PCP so we were a bit naive when it came to the deposit etc, we were bamboozled with facts & figures.  I assumed it was better to put a bigger deposit down and have higher monthly payments on PCP so that the baloon payment at the end would be smaller so if we wanted to purchase the car we could.  We were guided by some extent by the salesman but in hindsight I should have done more homework but it is what it is   However, it looks like we'll be in the same position again in 3 years time where we'll want to swap cars rather than keep so the PCH option sounds better.

If you are looking at PCH then you might want to think about changing your swap period.

There is a bit of a mixture of 36 and 42 months above which will confuse the comparison calculations.

Change it all to cost per month (add deposit, fees and monthly, then divide by months) to compare

With PCH you can also get 2 year deals, hand it back just before first major service so factor in difference in servicing costs

[zom414]

If the dealer is offering £6,300 as a part-ex on the vRS then it is worth at least £7,000 as a private sale.

 

Pay the £5,000 to own the car, sell it for £7,000 and use the £2,000 (plus another £250) as a deposit on this...

 

http://www.simpsonsskoda.co.uk/new-car-offers/yeti-99/ 

 

Then pay £99 per month for two years, yes, only £99!

 

All including VAT, no fees and direct from a Skoda dealer. 8,000 miles per year and metallic paint and road fund licence included.

 

So £2,250 + £2,277 (23x £99) = £4,527, or £189 per month all-in. Makes the price you've had quoted on a new Fabia seem ridiculously expensive.

 

Deals on the Yeti right now are amazing. If you have to have a Fabia Monte Carlo then they'll be able to quote for you.

 

More offers here, including a Yeti Monte Carlo  ...

 

http://www.simpsonsskoda.co.uk/new-car-offers/pch-offers/

Thanks, will give them a ring tomorrow and see what they say.