Fabia - PCP OR HP/ Polo or Fabia

[lp_brentford]

Hi,

 

I have a 64 plate Skoda Citigo, it has an automatic transmission with 22k miles on the clock and last year I done 14k miles. With this mileage and it's fair share of travelling on the motorway, I am looking for something new. 

 

As I am currently also saving for my first house, I need to make sure I am making the best financial decision. 

 

My local Skoda Dealership has a 2017 Skoda Fabia SE DSG - Mileage 9,800 for £11,600. My Citigo has a few battle scars, mainly a dent on the rear panel. I have been offered a trade-in price of £3.5k. 

 

Mileage and possible damage is putting me off PCP but I am wondering if i really want to keep a Skoda Fabia for the next 4 years on HP, whilst putting down a deposit of 2,300 which I could put towards my deposit for a house. 

 

With the new polo coming out soon? Lots of current Polos are pretty cheap - only a grand more than a Fabia. I know we are biased but being a young lad, not sure whether a Polo would be better suited. Is the current polo that much of a better product? 

 

Do you guys know of any good PCP deals on automatic Fabia? 

 

If I was to get a car on PCP as it would have lower monthly costs, I would probably look at Audi A1, Mazda 2 & VW Polo. 

 

Does Mirror Link or Smart Link enable me to use my phone as a satnav on the touch-screen? 

 

Sorry about all the questions! 

 

Edited 25 September, 2017 by lp_brentford

[Rooted]

Is the best plan not to stick with the Citigo which looks like it has little value unless you can sell privately,

& unless you can look after a rented car for 3 years without it getting battle scars?

 

PS

Check out the recent threads in the Fabia Mk3 section, 

that might help regarding the Fabia & the Polo & PCP etc

Edited 25 September, 2017 by Headinawayoffski

[rum4mo]

I agree with Headinawayoffski, there are times in your life when you only have enough money to do one thing or the other, you seem to want/need to jump aboard the "home owner boat" - good, but remember is you are on a limited budget then something needs to give especially if interest rates go up.  Having your first house and having a nice looking A1 in your driveway sounds good, but then one would need to go/change if interest rates creep up even a small bit - and that one will be your car, so you could end up running a real clunker. Stick with the Citigo and see how the house owning experience moves along as it will have a lot more usable life left in it than the trade in value suggests.

[threadbear]

Agree. Stick with the Citigo. You know it is reliable so invest your hard earned in your property plans. 

[Scottk]

Also bear in mind that if you are applying for a mortgage soon, a PCP or HP application will show on your credit report.

[JGrindel]

Ive never been a fan of PCP or HP, I know its what alot of people do to get a shiny car but it can bite you in the butt later, if your trying to get on the ladder focus your efforts and fiances on that as you don't want to have a 4 figure sum in finances to your name whilst trying to get a mortgage etc. It might not matter but best play it safe. The citygo is a good car and like others say its reliable!