PCH Prices dropped before signing contract

[maffyou]

27 minutes ago, dogdiego said:

 

Sytner Skoda North Wales have come out cheapest for me. And they'll deliver to any UK mainland address.

 

Thanks, I’ll check them out tomorrow. 

[gRoberts]

6 hours ago, maffyou said:

 

Thanks, I’ll check them out tomorrow. 

 

Your local dealership should be able to match the deal so could be worth giving that a go and you tend to avoid any admin fees too.

[kensiko]

This thread scared me to begin with!  These prices seemed very cheap to mine starting at £69 a month.

 

This is my first time leasing and I think I have the maths right but could someone confirm I have not been ripped off because I did haggle

 

Direct from a main dealership the 1.5 Hatch TSI SE Technoplogy manual.

9+35 10,000 mpa

£1370 initial.  £152/month for the remainder.

 

I have calculated both gRoberts (£2500 + 23x£85 8000 mpa) and mine (as above) to have the amortised values of approx £185.

Is that right?  And is that good for such a family car?

 

Cheers all

[dogdiego]

They say paying anything under 25% of the total value of the car, is a good deal when leasing.

 

So 185 x 24 is 21% of the list price of £20425. 

 

Its great value. Ultimately it's 2 years hassle free motoring. No tax to worry about. No breakdown cover. No expensive repairs. Probably even get away with a single service. 

 

Enjoy!

Edited 18 October, 2018 by dogdiego

[gRoberts]

3 minutes ago, dogdiego said:

Probably even get away with a single service. 

 

Just a heads up, Skoda put my current two year PCH on the variable service which indeed resulted in only one service but it did need oil between hand and I've just coughed up £205 for a first service that only took them 45 minutes.

 

Kensiko, it's looking alright - just make sure you're actually doing mileage close to that as you may be paying more. I've only done 12k in 2 years and I'm likely to do less in the next one.

[kensiko]

10 minutes ago, dogdiego said:

They say paying anything under 25% of the total value of the car, is a good deal when leasing.

 

So 185 x 24 is 21% of the list price of £20425. 

 

Its great value. Ultimately it's 2 years hassle free motoring. No tax to worry about. No breakdown cover. No expensive repairs. Probably even get away with a single service. 

 

Enjoy!

 

Thanks for the info.  I am paying £6690 altogether over 3 years rather than 2 which I have calculated to just under 33%.

Not too bad I suppose, like you say 3 years of (hopefully) hassle free motoring!

[gRoberts]

2 minutes ago, kensiko said:

 

Thanks for the info.  I am paying £6690 altogether over 3 years rather than 2 which I have calculated to just under 33%.

Not too bad I suppose, like you say 3 years of (hopefully) hassle free motoring!

 

I've had nothing but Joy from driving mine over the past two years. Sods law as BCA (where they go to after the 2/3 years) contacted me after I ordered my replacement to offer me the opportunity to buy it.

[kensiko]

18 minutes ago, dogdiego said:

No breakdown cover.

 

I just noticed this was also mentioned but I didn't realise anything like that would be covered if I don't have a maintenance plan so was going to keep our current breakdown cover.

 

Then I found the following on a leasing website (although I know all deals are different):

" If you don’t have a maintenance package included in your lease agreement, you may still be covered for breakdown as part of the manufacturer’s warranty. Breakdown cover typically varies from one year to five years and usually starts from the date of vehicle registration. "

 

Does anybody know if Skoda have such a thing in place?  I will have the car for 3 years so will I be covered for breakdown or do I need to check my individual contract when I see it?

 

[kensiko]

Hmmm I think I may have found it http://www.skoda.co.uk/owners/roadside-assistance

 

I was not aware of this!!  So I should be covered directly from Skoda it seems, everyones a winner!

[TonyTonic]

3 hours ago, dogdiego said:

They say paying anything under 25% of the total value of the car, is a good deal when leasing.

 

 

I've seen this figure before and am trying to get my head round it to see if this is actually true or not, I am assuming this is based on the fact that a car will depreciate by more than 25% over 2 years? So you are effectively paying far less for the two years than the car will depreciate? Is that line of thinking correct?

 

So where my thoughts are is that the above figure is based on list price? Right? But noone pays list price, You can get the above Skoda for 19% off easily , see for yourself put details in CarWow and wait for the results. So actually the car would be approx £16,544 making the payment over two years 26.84%

 

So if you can get even more money off which is possible the lease would be equal or worse than taking PCP and paying it off straight away but then you own the car and don't need to give it back after two years.

 

Anyway that is my logic, let me know what you think.

 

Edited 18 October, 2018 by TonyTonic

[maffyou]

From an investment point, leasing is the worst idea: you pay out however much and at the end you have nothing to show for it. But it’s also about actual costs. 

 

On the lease hub deal I’m looking at (1.0 DSG SE Tech), you pay £4322 all in which is equivalent to £180 per month over 2 years. 

 

I had had a look at carwow and others, and once you factor in the deposit I couldn’t get an SE (lower spec) for anywhere close to that. Sure, if I went PCP I *might* have some capital at the end, but it’s not guaranteed and it also  might not offset the extra I’d have paid every month either. 

 

If you intended or wanted to keep the car for longer than 2 years, outright or PCP is the way to go.

[dogdiego]

3 hours ago, gRoberts said:

 

I've had nothing but Joy from driving mine over the past two years. Sods law as BCA (where they go to after the 2/3 years) contacted me after I ordered my replacement to offer me the opportunity to buy it.

 

To be fair, it is a bit of a mystical figure. I suppose the difficulty is not everybody will achieve the exact same discount so the only way to do the sum is to use the constant, which is the list price. 

 

I suppose ultimately it's not an exact science and I've yet to find a PCP as low in price as the PCH figures quoted lately, which is the main driver for me in all of this; lowest monthly cost. 

 

I wouldn't really be bothered how that's achieved. 

[gRoberts]

Just now, dogdiego said:

 

To be fair, it is a bit of a mystical figure. I suppose the difficulty is not everybody will achieve the exact same discount so the only way to do the sum is to use the constant, which is the list price. 

 

I suppose ultimately it's not an exact science and I've yet to find a PCP as low in price as the PCH figures quoted lately, which is the main driver for me in all of this; lowest monthly cost. 

 

I wouldn't really be bothered how that's achieved. 

 

I doubt you'd find a PCP with similar figures, without coughing up a lot up front, or offloading it to the balloon payment at the end.

 

The reason PCH is so cheap is there is no intention of keeping it, so you're effectively hiring it. PCP however, the intention is to pay off as much as you can, with reasonable monthly payments and a reasonable initial/final payment. 

[dogdiego]

Sorry quoted the wrong response then, my bad! Couldn't edit it on my mobile either. 

[TonyTonic]

14 minutes ago, gRoberts said:

 

I doubt you'd find a PCP with similar figures, without coughing up a lot up front, or offloading it to the balloon payment at the end.

 

The reason PCH is so cheap is there is no intention of keeping it, so you're effectively hiring it. PCP however, the intention is to pay off as much as you can, with reasonable monthly payments and a reasonable initial/final payment. 

I get the idea that PCP is paying off the whole car (if you intend to keep it) vs PCH paying only for depreciation.

 

I guess anyway you spin it you will have to pay the actual sale price of the car whether you pay 2 years PCH on one car and then another 2 years PCH on another car or 4 years PCP on one car.

 

The thing is if you need a car ALL the time, I guess the main consideration is do you need a new car every 2 years and then have potentially a gap due to delivery/handover delays or have a car for 4 years on PCP and then decide to buy or have more leadtime for a new PCP deal.

 

Over long term what is the best option?

 

PCH - change the car every two years?

PCP - or change every 4?

 

What's more cost effective taking into account service, insurance transfer costs, tyres etc?

[gRoberts]

1 minute ago, TonyTonic said:

I get the idea that PCP is paying off the whole car (if you intend to keep it) vs PCH paying only for depreciation.

 

I guess anyway you spin it you will have to pay the actual sale price of the car whether you pay 2 years PCH on one car and then another 2 years PCH on another car or 4 years PCP on one car.

 

The thing is if you need a car ALL the time, I guess the main consideration is do you need a new car every 2 years and then have potentially a gap due to delivery/handover delays or have a car for 4 years on PCP and then decide to buy or have more leadtime for a new PCP deal.

 

Over long term what is the best option?

 

PCH - change the car every two years?

PCP - or change every 4?

 

What's more cost effective taking into account service, insurance transfer costs, tyres etc?

 

Over the 2 years, the only additional expenses I have had to pay are the first service and some scratch repairs. Tyres etc are well within BVRLA standards for going back.

 

You just need to plan ahead a little more when on PCH, especially if you are looking at more desirable models. Most dealers can schedule orders for delivery in advance. 

 

My current car is due to go back on 05/12, insurance running out on 10/12. New car comes with 7 days insurance and "should" be here 3 weeks from 28/10-04/11, which works out nicely for me. 

 

VWFS have extended my lease for 3 months at the same price should there be any delays and I can setup insurance wouldn't be much of an issue. 

[TonyTonic]

11 minutes ago, gRoberts said:

 

Over the 2 years, the only additional expenses I have had to pay are the first service and some scratch repairs. Tyres etc are well within BVRLA standards for going back.

 

You just need to plan ahead a little more when on PCH, especially if you are looking at more desirable models. Most dealers can schedule orders for delivery in advance. 

 

My current car is due to go back on 05/12, insurance running out on 10/12. New car comes with 7 days insurance and "should" be here 3 weeks from 28/10-04/11, which works out nicely for me. 

 

VWFS have extended my lease for 3 months at the same price should there be any delays and I can setup insurance wouldn't be much of an issue. 

OK so the best place for leasing are directly Skoda dealer. So far mentioned are:

 

Skoda Simpsons

And the other outfit in Wales Sytner Skoda

[kensiko]

2 minutes ago, TonyTonic said:

OK so the best place for leasing are directly Skoda dealer. So far mentioned are:

 

Skoda Simpsons

And the other outfit in Wales Sytner Skoda

 

Just to add I am using DM Keith. 

Seem good so far (famous last words).

[gRoberts]

2 minutes ago, TonyTonic said:

OK so the best place for leasing are directly Skoda dealer. So far mentioned are:

 

Skoda Simpsons

And the other outfit in Wales Sytner Skoda

 

Simpsons openly advertise their deals on their website, which just makes them the best to know when Skoda have the best contributions available.

 

All Skoda franchises however should be able to help you, although they don't actively pursue PCH customers. 

 

Lookers Newcastle (Railway Street) however have lost my business twice now because they can't even return phone calls... 

[dogdiego]

I've spoken to Lightcliffe Skoda as well, who have offered very similar prices and have said they could hold the car for me until June next year (when my current lease runs out), if you need a little bit longer to collect. 

[TonyTonic]

27 minutes ago, dogdiego said:

I've spoken to Lightcliffe Skoda as well, who have offered very similar prices and have said they could hold the car for me until June next year (when my current lease runs out), if you need a little bit longer to collect. 

Hold an actual car or order in time to arrive for June? 

Would they honour the (potentially lower special offer) price at time of enquiry or the price at the time of delivery?

[dogdiego]

46 minutes ago, TonyTonic said:

Hold an actual car or order in time to arrive for June? 

Would they honour the (potentially lower special offer) price at time of enquiry or the price at the time of delivery?

 

Hold the car itself. 

 

The other two dealers have said that it would have to be collected by April to keep the prices the same. Not sure why the discrepancy. 

 

Also 1 dealer has said 24 weeks, another 16. 

Edited 18 October, 2018 by dogdiego

[just music]

Sytner North Wales were great for me. Their deal included a dealer contribution that DM Keith couldn't match. It was also easier dealing with Sytner because they appear to be set up for these kind of deals whereas with DMK I was talking to the business manager not someone on the consumer side. I got the feeling DMK weren't yet in a position to offer PCH at the consumer level but that may have changed - or will do in the future - as PCH gets ever more popular.

 

I'm on a 3 year lease from April this year with a 1.5 SE Tech Estate. Base price was around £205 on a 6+35 deal, but I've got around £40/month of extras on as well. If you're going to spec a car over and above the standard, it's worth going for a longer lease, as options are generally paid for in full over the lease period. The exception is metallic paint which is often no extra cost. I did think about going to 4 years but then you're likely to need tyres, possibly brakes, and an extra year's warranty.

 

 

[maffyou]

58 minutes ago, just music said:

I'm on a 3 year lease from April this year with a 1.5 SE Tech Estate. Base price was around £205 on a 6+35 deal, but I've got around £40/month of extras on as well. If you're going to spec a car over and above the standard, it's worth going for a longer lease, as options are generally paid for in full over the lease period. The exception is metallic paint which is often no extra cost. I did think about going to 4 years but then you're likely to need tyres, possibly brakes, and an extra year's warranty.

 

 

Metallic paint is coming up as expensive (to my mind) on everything I’ve seen, about £17-18 extra per month. Special paint is around £5-6. 

 

To to be honest, I’m happy enough with the standard colour, after all I’m only renting it

[kensiko]

1 hour ago, just music said:

It was also easier dealing with Sytner because they appear to be set up for these kind of deals whereas with DMK I was talking to the business manager not someone on the consumer side. I got the feeling DMK weren't yet in a position to offer PCH at the consumer level but that may have changed - or will do in the future - as PCH gets ever more popular.

 

 

I can confirm I have had to deal with commerce/business at DM Keith.

 

I called my local Skoda showroom which happened to be DMK to try to match a quote from a non dealership.

I was passed to the business side but they treated me just as a PCH from the getgo and managed to match the price I was quoted.

 

I prefered to go direct to dealer which is why I made the call initially, but wasn't expecting to get anywhere as I assumed they would always be more expensive.

Edited 18 October, 2018 by kensiko
Spellcheck!