Yup

17 hours ago, Nick P said:

The crazy thing is, factoring int the initial deposit, the car cost £256 a month for the first two years of its life. I don't understand how their financial model works. How can 2 year old car cost 16% more to hire for a year than a brand new one? It's nuts - It's further down its depreciation curve.

 

Its all to do with volumes.  As you can no longer buy new, people are looking at 1-2 year old cars. 

Another group will look at 3 year old cars, as that is as far as their budget allows.

 

You need to rewind to 3 years ago.  Then most deals were 3 years so lots of cars now available at that age as those deals from 3 years ago expire, the 2 year deals didn't really exist 3 years ago (were rare until 2-3 years ago).  So you have 2 sets of ex rent/lease cars hitting the market at 2 different age groups, which has opened a big price gap between those that are 2 years and those that are 3 years.   So the depreciation curve is not a nice smooth curve anymore.   Clearly they are expecting a price fall of about £4k in year 3 and are pricing it accordingly.

 

There are no Skoda being offered at stupidly cheap lease rates anymore (those £125 per month plus deposit 2 year deals on Yeti from summer 2016 are history).   Whats more with some models having 6-8 month waiting list (and a few order lists actually closed/suspended) finding a good deal that can actually be delivered before Christmas can be quite hard now.   Which unfortunately is another reason why cheap extensions for 6-12 months are not being offered.

 

I (and couple of people I know), are taking a different approach, now market has changed.   Instead of another 2-3 year deal, now choosing a car to keep for 7-8 years.   So working on estimated costings over 7-8 years rather than be sucked in by Headline monthly costs (which always mislead as the deposit, booking fees and return costs need to be added on).    It is actually becoming a painful experience trying to roll between deals every 2 or 3 years, so why go through the stress.   Instead I have shopped around for my new car, got big discount (about 17%) and got price under £20k (so I can assume average loss of about £2k - 2.5k per year, much better than than £350 per month (about £4k per year) PCH / PCP on same car

 

 

 

 

 

 

We have two Yeti's going back.

 

The deal was £2190 deposit and £99 a month. They want £225 a month to extend so they are both going back.

 

One was used by my Dad who has passed away and my Mum would like something smaller so we have purchased a used Citigo. For the other we have purchased an Octavia.

 

The Yeti's PCH deal was so good it was cheaper than depreciation on even a newish used model at under £200 a month all in. The current lease deals are no where near as competitive so we are back to buying again.

 

Lee

Hello Lee

 

I remember reading that you had bought your Dad a Yeti at the same time that you bought your own.

I thought at the time that it was a lovely gesture.

So sad that he has now passed away.

 

19 hours ago, Bexhillian said:

Hello Lee

 

I remember reading that you had bought your Dad a Yeti at the same time that you bought your own.

I thought at the time that it was a lovely gesture.

So sad that he has now passed away.

 

 

Thanks Bexhillian,

 

We picked the Yeti's up in July 2016, in Feb 2017 my Dad was diagnosed with cancer and died in October. He was stopped from driving in Feb 2017 so only got to drive the Yeti for 7 months. My Mum did use it occasionally but just to the shops etc. 

As we had a good deal on the Citigo we cancelled the lease on his Yeti slightly early. It went back a couple weeks ago with just 5000 miles on the clock.

 

But I've no regrets with the Yeti, he always wanted one since they were introduced and he got to have one and that's worth all the money to me.

 

Lee

I think part of the reason for the increased rental costs for year 3 are to do with the fact that the Yeti is no longer in production, so the residual values are starting to slip a bit more rapidly than in previous years and with the current stigmatising of diesel cars it might well be that the petrol engined versions are that bit more desirable as secondhand cars, which makes cars like my current PCH 1.4 petrol engined Yeti L & K very easy cars for Skoda to sell on, i.e they'd rather have them back at 2 years old with low mileage and one year of warranty than 3 years old with higher mileage and no warranty. The additional rental from year 3 (even partial at six months) wouldn't compensate for the lower residual value that the car would have to them.

 

Saying that it has been a very inexpensive way to get to drive a high spec Yeti for two years and I will miss it when it has to be returned! I can't see how most of the current deals for PCH make much sense compared to buying the car either new or secondhand and maybe worth looking at used Yeti's next year to see what is available then, an SE Drive or SEL Drive spec car would be pretty well equipped, most of the extra stuff on the L & K I never actually use anyway.

So with all these increases on monthlys for an extension on existing leases, has anyone called VWFS to ask for a purchase price? I am also aware this can be done online, what kind offfers you getting on a typical 2 year old Yeti with average mileage below the new price, 20,30,40%. I was hoping to have an offer somewhere between 30-35% lower than the new price, but not sure that is now going to happen, my Yeti OTR was £21000, I was hoping for an offer around £14k.

See here...

 

 

That's encouraging, my lease isnt up till end of December but the Yeti will be low mileage (11,000) which will push the price up.

Was hoping to extend the lease for 6 months at a sensible price but this doesnt look likely. so plan B to purchase the vehicle looks okay.

Ended up getting a Tiguan SE Nav 1.4TSI 4motion DSG.

 

213.78 inc VAT a month. £2400 deposit. Taking account of the deposit on both deals and averaging out over the term, works out just over £50 more per month than the Yeti. I think that's OK though as it's a bit bigger and has DSG, whereas the Yeti was manual. Will miss the pano roof and a couple of other L&K luxuries though.

Edited 28 May, 20188 yr by Nick P

On 26/05/2018 at 15:13, jonnyboy78 said:

So with all these increases on monthlys for an extension on existing leases, has anyone called VWFS to ask for a purchase price? I am also aware this can be done online, what kind offfers you getting on a typical 2 year old Yeti with average mileage below the new price, 20,30,40%. I was hoping to have an offer somewhere between 30-35% lower than the new price, but not sure that is now going to happen, my Yeti OTR was £21000, I was hoping for an offer around £14k.

 

I did ask, but they will only quote when car was within last 3 months

I ordered June 2016, but wasn’t delivered until early October, so I can’t get quote until early July.  Will advise percentage of new price when I get it.

 

Bit of a catch 22 : With some of the replacements needing ordering 4+ months ahead, you are forced to decide if you want to order replacement before getting quote .

 

All this uncertainty, and hassle of changing when on PCH, is just one of the reasons why I have decided to buy next car for long term.

 

 

On 7/26/2017 at 23:33, Ryeman said:

G'day George 

just planting the seed ))))

 

Duplicate - sorry.

 

Muth - ever cheerful.  Always a treat to 'Laugh along a Muth'.

 

 

Edited 8 June, 20188 yr by oldstan

On 7/26/2017 at 23:33, Ryeman said:

G'day George 

just planting the seed ))))

On 7/26/2017 at 23:33, Ryeman said:

G'day George 

just planting the seed ))))

 

 Seems a fairly pointless seed to me.  Current one litre engines offer similar, if not greater, levels of performance to greater capacity engines of the past so why would choosing one be a step towards battery power?

 

Can't see the connection myself.

On 5/9/2018 at 12:41, SurreyJohn said:

 

Its all to do with volumes.  As you can no longer buy new, people are looking at 1-2 year old cars. 

Another group will look at 3 year old cars, as that is as far as their budget allows.

 

You need to rewind to 3 years ago.  Then most deals were 3 years so lots of cars now available at that age as those deals from 3 years ago expire, the 2 year deals didn't really exist 3 years ago (were rare until 2-3 years ago).  So you have 2 sets of ex rent/lease cars hitting the market at 2 different age groups, which has opened a big price gap between those that are 2 years and those that are 3 years.   So the depreciation curve is not a nice smooth curve anymore.   Clearly they are expecting a price fall of about £4k in year 3 and are pricing it accordingly.

 

There are no Skoda being offered at stupidly cheap lease rates anymore (those £125 per month plus deposit 2 year deals on Yeti from summer 2016 are history).   Whats more with some models having 6-8 month waiting list (and a few order lists actually closed/suspended) finding a good deal that can actually be delivered before Christmas can be quite hard now.   Which unfortunately is another reason why cheap extensions for 6-12 months are not being offered.

 

I (and couple of people I know), are taking a different approach, now market has changed.   Instead of another 2-3 year deal, now choosing a car to keep for 7-8 years.   So working on estimated costings over 7-8 years rather than be sucked in by Headline monthly costs (which always mislead as the deposit, booking fees and return costs need to be added on).    It is actually becoming a painful experience trying to roll between deals every 2 or 3 years, so why go through the stress.   Instead I have shopped around for my new car, got big discount (about 17%) and got price under £20k (so I can assume average loss of about £2k - 2.5k per year, much better than than £350 per month (about £4k per year) PCH / PCP on same car

 

 

 

 

 

 

 

Interested to read this.  ^^

 

Despite having read various explanations the vagaries of PCP has foxed me.  So many variables, so many different offers, rates, deposits, balloons ... will the figures at the end of the period meet expectations?

 

My current Yeti is over 7 yrs old and is fine.  The main problem for me is the fact that it's DSG and I'm afraid it'll fail (expensively).

 

Presumably if following Surreyjohn's thinking you'd be wise to find the right car to keep for a long time. Maybe a KIa with it's 7 yr warranty? Or try to predict what will hold its value best in the long term?

 

Any further observations made will be welcome.

 

 

Just to update my end of PCH options:

2 months to go till end of 2yr PCH.

Buy it quote is £17400

extend PCH for 6 months = £231 inc VAT

extend PCH for 12 months = £193 inc VAT

This is for a Dec 2016 reg 1.4 L&K with only 8700 miles.

Not sure the buy it now price is a really great deal but cant find anything as low mileage to compare with. 

I do know the car though and would have to have a few paintwork marks sorted before handing back without penalties.

Also nothing else around takes my fancy at present except possibly the Seat Arona and waiting times are long especially if I went for the DSG option.

Jennings SEAT Teeside have a 2018 Arona, so pre Gasoline Particulate Filter.  491 miles & asking £16,000.   Red metallic 1.0 TSI 115ps SE DSG.

Maybe they would want a Yeti in with low miles.

...purchased my 1.4 LK earlier this year from a dealer and paid the same as you are being asked to pay. No px and it was 2 years old at the time with approx 8k on the clock...if that helps?

^^^

Was that a Skoda Approved car prepped for resale and with a 12 month Warranty?

 

So they got that in, made money on it's sale after overheads means the 'Buy it quote for @rarrar is a bit of a mickey take.   ie asking a Retail Price.

Over £1,000 more than the price that it would be going into be prepped for sale and then presented for sale at around the price yours cost you earlier this year.

Edited 22 October, 20187 yr by Offski

I'm finding changing cars to be more of a chore than a pleasure now. Not helped by getting the Yeti on a 0% PCP deal.

 

I've looked at getting a Karoq for when my deal is up early next year but with the increasing cost, delays due to the new testing, unknown specifications for 2019 etc. and the rates that are being charged etc. I've now lost any enthusiasm and have taken out a bank loan at 3.3% to buy the Yeti for £10k. when the PCP is up.

 

Being a diesel I was looking at changing to petrol for when I retire next year but it will only have done around 30k., does all that I want and I still really like it and feel that I only intended changing for changing sake to some extent.

 

I've usually changed at around 3 years but can now see me keeping the Yeti for 5 or 6 years which will give me plenty of time to find a replacement I really want, hopefully!

The spec of MY19 Skoda Karoq are known now if you are looking to order or buy one, 

still not when they can be brought into the UK is the issue, the WLTP Approved ones are just a case of the Black Hole ordering system being the issue.

4 hours ago, rarrar said:

Just to update my end of PCH options:

2 months to go till end of 2yr PCH.

Buy it quote is £17400

extend PCH for 6 months = £231 inc VAT

extend PCH for 12 months = £193 inc VAT

This is for a Dec 2016 reg 1.4 L&K with only 8700 miles.

Not sure the buy it now price is a really great deal but cant find anything as low mileage to compare with. 

I do know the car though and would have to have a few paintwork marks sorted before handing back without penalties.

Also nothing else around takes my fancy at present except possibly the Seat Arona and waiting times are long especially if I went for the DSG option.

 

 

Interesting to read this as I've got exactly the same car due to go back at the end of February 2019. Definitely looks like an end to the cheap 6 months extensions which were available up until last year, going by figures posted here. Much as I like the car, I don't think that it would be worthwhile for me buying it at that price. There are a few cheap Skoda PCH deals available this month which may be worth thinking about, the cheapest one is for the Octavia 1 litre SE Tech, think Simpsons are quoting that at about £2500 deposit and £69 x 23 for the hatchback and £20 more for the Estate version or the bigger 1.5 litre petrol engine. Although personally speaking I'd prefer a Superb over another Octavia if at all possible, just to have a quieter car without the torsion beam rear suspension, the Yeti has a smoother ride quality than my old Octavia mk 3 Estate did.

An alternative to a SEAT Arona maybe. Since it has no AWD option.

 

 

17 hours ago, rarrar said:

Just to update my end of PCH options:

2 months to go till end of 2yr PCH.

Buy it quote is £17400

extend PCH for 6 months = £231 inc VAT

extend PCH for 12 months = £193 inc VAT

This is for a Dec 2016 reg 1.4 L&K with only 8700 miles.

Not sure the buy it now price is a really great deal but cant find anything as low mileage to compare with. 

I do know the car though and would have to have a few paintwork marks sorted before handing back without penalties.

Also nothing else around takes my fancy at present except possibly the Seat Arona and waiting times are long especially if I went for the DSG option.

 

That £17,400 is quite a lot of money to buy it, especially compared to £2316 to keep it another year 

I suspect you probably need to think nearer £2800 for keeping a year allowing for service etc (but that should be lower than depreciation)

 

If you are thinking of the Arona, how about the new VW T-cross (the smaller T-roc) which has its premiere in 2 days time on Thursday 25th October

However don't know when they go on sale, but surely within a year.

 

There is a new Skoda smaller SUV sometime, but not sure if you will be able to get it by December 2019 in the spec you want

 

 

 

There is a first look at the new small Skoda based on the T roc in one of the latest car mags.

Apparently going for the largest body which will fit the chassis.

Looks good with a more vertical rear like the Yeti and Yeti size.

However I think it said 2wd only?

17 hours ago, Offski said:

The spec of MY19 Skoda Karoq are known now if you are looking to order or buy one, 

still not when they can be brought into the UK is the issue, the WLTP Approved ones are just a case of the Black Hole ordering system being the issue.

Yes, that's one of the problems, getting the delivery right to fit with the PCP ending. Due to the unpredictability over supply and the changing/unknown specs. a little while ago I passed the point of no return and hence my commitment to buying the Yeti which I shall then probably keep for at least 12 months. Hopefully by then supply will have settled down and other specifications may be available. Of course other manufacturers may also come up with something to tempt me more.

 

As you know from my other posts I'm also miffed that the pano. roof has been included as standard on the Scout and Sportline models as well as the Edition so that rules them all out.  An Edition without the pano. roof  would have been my choice. I'll maybe price up an SE L again with options but as you know it always works out more expensive that way.

Edited 23 October, 20187 yr by VAGCF