Morning people.  I am now looking at new deals for a pcp , Carwow have been quite good, I have got another dealer working on quotes.  I may post them here for you to perhaps recommend or tell me if they are any good. Thanks 

Well my first quote from a dealer hasn't gone so well.  Has anyone seen any decent deals out there for a VRS petrol Challenge? 

Dealer said 2 grand deposit then it would be £445 pm.  Much more than my current £297 pm! 

1 hour ago, stubev156 said:

Dealer said 2 grand deposit then it would be £445 pm.  Much more than my current £297 pm! 

 

How long you keeping for? Looked at leasing?  You can get a VRS Challenge DSG on a 3+35 for about £280 a month from National Vehicle Solutions. 

2 hours ago, SC03OTT said:

 

How long you keeping for? Looked at leasing?  You can get a VRS Challenge DSG on a 3+35 for about £280 a month from National Vehicle Solutions. 

 

Yes,you need to go to the brokers to find the best deals,in cash terms the discounts are around 25% off list,which should feed through into economical monthly payments.

 

The issue might be how long the car takes to arrive...

Edited 12 May, 20197 yr by *JP*
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I have bought a VRS 245 estate from drive the deal for £293 per month on PCP, I have put down a 3.5K deposit 

 

Comes with metallic paint and V cockpit, should be with me in a couple of weeks 😀

Arrived Friday

 

 

Lovely, looks really nice.  Drive the Deals quotes for me were still very high, 2 grand down and £440 pm....

The list price for my car was £30,500 and drive the deal price was £24,000, delivered from a UK main dealer 

 

maybe try a VRS with options rather than a challenge?

Hi Lotus, yes I did both, including the normal VRS with options.  ( virtual cockpit, DCC, winter pack, heated front and rear seats) , the list price was £33970- discounted to £26951.59p (£7019saving) and with a £2000 deposit it was £425.88pm with a final payment of £11124.90.

I can't remember over how many months, I am assuming 42 months but looking at the figures it may be over 36 months? Challenge was about £700 more....and about £445 pm

2 hours ago, stubev156 said:

 £33970- discounted to £26951.59p (£7019saving) and with a £2000 deposit it was £425.88pm with a final payment of £11124.90.

For anyone wanting to buy cash, you can always pay a PCP off early (within 5 days earliest) & keep whatever Manufacture discounts or services are added to the PCP deal

Mine is over 47 months

Honestly, the the high cost of finance from Skoda right now, I just don’t think it’s a good time to buy on their credit.

 

i’d work it out on a bank loan, then look at the suggested option of buy it then cancel the finance.

 

I personally would just keep the old one until a better offer on a newer car, but that’s just my opinion.

Those monthlies are mental.  

1 hour ago, cheezemonkhai said:

Honestly, the the high cost of finance from Skoda right now, I just don’t think it’s a good time to buy on their credit.

 

i’d work it out on a bank loan, then look at the suggested option of buy it then cancel the finance.

 

I personally would just keep the old one until a better offer on a newer car, but that’s just my opinion.

CM I am agreeing with you I think!  Current car has now done 16000 miles, if I but a warranty for 3 years with Warrantydirect( used before) it will be about £750 for 3 years, pretty much covering everything.  The balloon payment is £10150. So a loan at 2.9% is better value too.  Yes I will have to get tyres etc but as you say, wait about for a better deal to come along perhaps....

On 19/05/2019 at 19:44, stubev156 said:

CM I am agreeing with you I think!  Current car has now done 16000 miles, if I but a warranty for 3 years with Warrantydirect( used before) it will be about £750 for 3 years, pretty much covering everything.  The balloon payment is £10150. So a loan at 2.9% is better value too.  Yes I will have to get tyres etc but as you say, wait about for a better deal to come along perhaps....

 

That would be your best bet. As said above, the finance they're offering at the moment is pretty shocking, even with the £2500 contribution. I got a phone call the other week as mine in a few months is coming to the end of it's PCP and I was getting the same hilarious offers (if you can call them offers).

 

Skoda must be comfortable in the market. When I purchased mine, it was on 0% and the salesman seemed usually keen to 'assist' me in getting a good deal.

TD I agree with you!  When I first bought my VRS , it was also interest free, got a decent discount and also had £500 of free petrol....Skoda must indeed be comfortable at the moment.  Unless a new decent deal comes along I will keep this car and keep a good look out. 

I think the issue is that they have a queue for cars mainly due to alto changes.

They won’t want a big order backlog on the mk3 with the mk4 coming.

 

Personally I would expect better pricing to return after the new car launch and a reasonable time period has passed to get over the new model premium.

On ‎27‎/‎03‎/‎2019 at 22:40, stubev156 said:

My current PCP runs out at the end is Sept.  My VRS is 3 years old and I have only done 13500 miles, although I will shortly be using it a lot, lot more.  Should I, A /pay the 10 grand (ish) balloon payment and keep it, B/ sell the car privately and make a few grand ( potentially) and start a new pcp,  or C/ go back to the dealer and part ex it in against a new VRS and start a new PCP.  I quite fancy the PCP because it is a rather hassle-free sort of motoring.   Thanks for any advice/ideas. 

 

Your last point needs to be qualified, not hassle free

Inevitably prior to hand back, you need to restore it to a set condition, and if you didn't estimate mileage correctly will be paying extra, or will have already paid but not used up your mileage allowance

 

If you like the car, why hand it back ?

 

If you change, You are probably going to be paying a deposit (in cash) say £1-3k so only £7-9k less than £10k balloon, and if you buy it don't need to worry about sorting it to return status

Then probably paying out £300-400 per month.   At that monthly rate you might own it outright in another 2 years

 

You will have maintenance and repairs, but once its paid for, from a capital cost or monthly rental basis the car is then free until you decide to change it

 

Think about it, if you keep it another 4 years (as an example), you pay the balloon £10k  and might still get £2.5k when you sell it = net of £7.5k

If you change it probably going to be paying something like £2000 + (47 x £280) =  £15k, double buying it

Obviously the older car will need extra for repairs and maintenance, but hope this illustrates that automatically changing it might not work financially

 

 

 

 

Thanks for your reply SurryJohn.  Can't argue with your logic, as others have also said above.  All very valid points.  I have priced a comprehensive warranty up,I think I will see out the last few months of the 0% pcp, then look to finance the Baloon payment- also much cheaper than Skoda's current 5.9% deals. 🙂

Def get it on PCP, the more people who do this, the more new cars flood the market and the better the deals are for people like me who can buy them as new for a good price!

 

 

Note:. The best option is actually to buy the pretty much new car for £10k and then actually have 100% equity in it in 3 more years rather than just paying money out for an eternity without owning anything.  But the more people get PCP and pay for the depreciation, the better the used car deals!

9 hours ago, Alex-W said:

Def get it on PCP, the more people who do this, the more new cars flood the market and the better the deals are for people like me who can buy them as new for a good price!

 

 

Nice idea, get some other idiot to subsidise your 3-4 year old car

 

 

12 hours ago, Alex-W said:

 

Note:. The best option is actually to buy the pretty much new car for £10k and then actually have 100% equity in it in 3 more years rather than just paying money out for an eternity without owning anything.  But the more people get PCP and pay for the depreciation, the better the used car deals!

 

The best option is simply the one that works best for you.

 

Also where are you buying an "as new" VRS for 10k? My almost 6 year old VRS is still worth 8.5k trade. Bit of a stretch to say a 10k VRS is "as new".

The best option financially is to buy the car.

Less interest, you lose less money on depreciation.  You gain equity in a car.

 

That doesn't necessarily mean that it's the best option for somebody's lifestyle, many people choose to pay more money to not have to mot a car, so they don't have to manage the money basically and most commonly because they simply want something shiny and new with a higher number on the reg plate than the neighbours. 

Those are valid reasons, but more costly.

 

Regarding the 10k, the OP stated he could buy the car he already has for £10k, at 3 years old and 13k miles.

That would cost ~£16k to buy presently so personally I'd pay the 10k, have a 'nearly new' car at 13k miles and himself being the only owner.

3 years later it'll be worth about 8500 as you say.  So ultimately it'll only lose £500 a year. Cheap motoring. 

 

Very interesting thread as we have exactly the same decision to make in October (or sooner of course).

 

From a 0% deal in 2016 I agree that the 2019 figures come out much higher for an equivalent car.

 

Im currently favouring the “Buy It” option, which will buy time if nothing else till an acceptable deal appears.

 

I’m experiencing both a PCP and PCH deal so understand all the intricacies.

 

I’ve noticed that many attractive headline figures - not just from Skoda - need a pretty big deposit that causes the annualised monthly cost to leap up again.  The long term annualised cost is key for me.