Extending PCH Deal at End of Term

[rarrar]

10 hours ago, SurreyJohn said:

 

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)

Must say I am coming round to this option. Add £60 admin fee, take off cost of Road Fund Tax , add service ..... and see what happens in the next 12 months.

Edited 23 October, 2018 by rarrar
quoted text error

[MarieK]

On 22/10/2018 at 16:30, 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.

 

What is your currently monthly payment? I'm just wondering how it compares with the 6 and 12 month extensions as I will be facing the same choices myself soon.

[rarrar]

Current monthly is £136 inc VAT.   The car had 2 options - Spare Wheel and Removable Towbar - which increased the payments a little.

[MarieK]

15 minutes ago, rarrar said:

Current monthly is £136 inc VAT.   The car had 2 options - Spare Wheel and Removable Towbar - which increased the payments a little.

 

That's quite a hike in payments then for the extensions. I'm currently paying £103 on a 1.2 SE L Drive March 17 reg. 

I'll see what my options are but I'm still keeping an eye out for alternative cars. Nothing is beating the Yeti so far in my eyes.

[rarrar]

I knew from previous posts on the subject that the extension was going to be a big hike but was expecting/relying on  a better Buy it from us price. 

The 12 month extension option isnt as high as I had been expecting . 

Isnt helped by the very low mileage.

The extensions are based on 16000 miles over the 3 years (2 + 1) extended contract length.

 

[Smokeyjoe]

to the current monthly cost you should add 1/24 of the deposit paid at the outset to give a true monthly cost. My monthly figure is £129 incl VAT but I put down a £2250 deposit which makes the true monthly cost nearly £100 more. If they offer to extend my deal for less than £229 per month, it will be cheaper than starting another PCH on a vehicle I don't really want. Yeti's Rule!

[AllanDJ]

Sounds like I got a slightly better deal than some people here on my Yet L & K, mine was £2500 down and £104.80 x 23! It's still likely to be over £200 per month for an extension but I haven't had anything through yet from Skoda on that.

[rarrar]

17 hours ago, Smokeyjoe said:

to the current monthly cost you should add 1/24 of the deposit paid at the outset to give a true monthly cost. My monthly figure is £129 incl VAT but I put down a £2250 deposit which makes the true monthly cost nearly £100 more. If they offer to extend my deal for less than £229 per month, it will be cheaper than starting another PCH on a vehicle I don't really want. Yeti's Rule!

Very good point, hadn't actually thought of that when doing the calcs ! So first  2 years is effectively at £100 more e.g. ~£236 pm.  Thanks 

[carisbrook]

My PCH deal ends in December 18 and my purchase price is £14700 on a 66 plate with 7500 miles.

My initial deposit was £1800 down and £72 a month(£180 broker fee) on a 1.2 DSG Monte carlo.

I'll be letting it go.

Just for reference

Edited 26 October, 2018 by carisbrook

[MarieK]

So my PCH agreement ends in March (1.2 SE L Drive)

I got a purchase quote of £15,150 and then asked for a quote on an extension of hire for another year.

Keeping the overall miles at 20k as I'm not doing big mileage these days, they have just quoted me £72.79 +vat.....£87.35 in total

I'm gobsmacked, as I expected the payments to increase dramatically from my current £103

 

So I think I'll likely opt to keep for another year and then reconsider my options. New 'baby' Skoda SUV may be available by then, or something else.

[rarrar]

Not sure if its a good idea to reopen an old thread but....

A warning if you are coming to the end of your PCH deal or ending early.

Even though your PCH deal may end on a specific date it actually runs until BCA inspect & Collect the car - you are responsible for keeping it insured , MOT etc.

Have just ended my PCH deal prior to taking delivery of a VW t-cross only to find that BCA cannot collect for 3 weeks !

Right pain as I dont have room for 2 cars and dont want to have to insure both vehicles together for 2 weeks.

I thought I was planning ahead - but obviously not far enough.

[TeeDeeEye]

That doesn’t sound fair especially if both cars are from VWFS?

3 days but not 3 weeks!

[silver1011]

When my PCH was coming to an end Skoda Finance were quite clear on the process and recommended timings.

 

They started the ball rolling months before the end date. I remember BCA's inspection slots were running 2-3 weeks ahead back then too.

 

When you say "have just ended my PCH deal" have you terminated early?

 

If not then I assume you've left arranging the inspection until the very last minute i.e. a few days before collecting the new car?

[rarrar]

Terminated 1 month early, timing was set by when new VW arrived in the UK.

No info of timings provided by Skoda Finance except for an email saying their agent would be in touch nearer the end of the lease to arrange collection. I assumed that as soon as I terminated they would be wanting to collect within a week or so at the latest.

Although I have terminated and paid a very small termination fee I still have use of the car for another 3 weeks without further payments  !

 

[silver1011]

I replaced my PCH Octavia Scout with a PCP Kodiaq Scout, all arranged through Skoda Finance.

 

I was able to set the collection date, and the termination of the Octavia PCH to coincide with the exact date I was due to collect the Kodiaq.

 

We'd barely got the new car home when the BCA driver turned up to collect the Octavia. All arranged weeks in advance.

 

Seamless. At least for me.

[Scottie1979]

We are coming to the end of our 3 year lease in Feb 20 (66 plate) and have been quoted a purchase price of £14,300

it was originally a 2 year lease but we extended for a further year.

I love the car and would like to keep it - we have had zero issues, but i am interested to hear others opinion on this valuation? It seems to be about £1k less than similar cars from dealers. Our mileage is approx 22k.

The obvious replacement alternative would be the 1.0l Karoq or Seal Alteca

 

 

[Scottie1979]

i should have said it is a 1.4l L&K

[silver1011]

Buy it.

 

No one knows the car better than you.

 

The 1.4 TSI is (in my opinion) one of the best engines VAG have made.

 

When I was offered a price on my PCH it changed very quickly, so don't waste time.

 

See here for my experience...

 

 

[rarrar]

Last year when I looked at buying my 2 year old Yeti 1.4 L&K there was no problem with the leesee themselves buying the car , with mentions in the forums that the rules had changed.

But when I looked a year later there seemed to be prohibitions.

I was  quoted £13900 for my 66 plate  3 year old 1.4 L&K with 12,000 miles a few weeks ago.

Edited 13 November, 2019 by rarrar
clarify statement

[Scottie1979]

I got the quote now so i could plan ahead and have an idea of what i was going to do. The intention being if i was going to buy then i get it requoted nearer the end date in the assumption that the price might drop with depreciation - i need to read the details to understand if this price is the price at the end of the lease or for now to better understand the position.

 

rarrar this was to purchase your lease L&K? that looks like a good price when compared to mine?!

[Smokeyjoe]

35 minutes ago, Scottie1979 said:

We are coming to the end of our 3 year lease in Feb 20 (66 plate) and have been quoted a purchase price of £14,300

it was originally a 2 year lease but we extended for a further year.

I love the car and would like to keep it - we have had zero issues, but i am interested to hear others opinion on this valuation? It seems to be about £1k less than similar cars from dealers. Our mileage is approx 22k.

The obvious replacement alternative would be the 1.0l Karoq or Seal Alteca

 

 

My September 2017 L&K (67 plate) on a 2 year PCH was extended by 3 months as I am waiting for delivery of a new Karoq. BCA are collecting the Yeti on 3rd December. Out of interest, I got a valuation of £16450 on the Yeti with only 7500 miles on the clock and I actually thought that was a bit expensive compared to others on sale albeit with slightly higher mileages. I have no idea how they work out a buy price. The car was retail £25K when i got it and I have paid approx £5600 in rental payments while the car has lost about £8550 in depreciation in 27 months. It certainly doesn't seem sensible to buy new anymore. 

[rarrar]

Well the Yeti has just gone ! Quite sad , have enjoyed my two Yetis and the advice and info on this very friendly and knowledgeable Forum.

In case its of interest to others, the inspection damage report  listed the following:

Bumper front Scratched Right Corner  Less than 10mm through top coat  Touch in & flat/polish 21.00
Wing LHF 1st scratch per vehicle 10mm to 25mm through top coat Refinish 110.40
Door mirror assy LHF Scratched Greater than 25mm through top coat Refinish 27.60

I'm sure I couldnt have got these sorted out locally before collection for these prices.

Just hope they dont revise it later !

Cheers everyone.

[MarieK]

My Yeti is now in the last 3 months of pch and I asked for a quote to buy, just out of curiosity.

The provisional value was £12,826 but the official offer letter is £13,550 

I ordered a VW T Roc in May and was considering cancelling it and keeping the Yeti but as I now have a confirmed build I'll go ahead with it.

At 13,500 miles currently, I'm sure it will be a good purchase for someone as it's been flawless in almost 3 years of driving.

I'll be sad to see it go 😞

[Brijo]

We'll be sorry to see you go (again)

[MarieK]

Can anyone tell me do they inspect and collect your returning car on the same day, or is it inspection and then collection later?

I'm a month early trying to arrange termination as my VW T Roc has arrived in UK, just wondering what the process is