Should I buy my vrs diesel 85k £10,000

[Vallumlj]

My current lease is due to end next month and my mileage will then be 87k and the finance company said I can buy it for £10,000. The car is a 67 plate and has been great up to now. I do about 40k a year. My question is will it last for another couple or years all will it get expensive now with clutch , dpf , timing belt etc?

 

any advice would be great

[Swirly182]

If you give it back what will you do? 

[Vallumlj]

Lease another car but it will cost be around £500 a month for my milage

[Swirly182]

I'd keep yours! You know the history. And it's a Skoda, so relatively cheap to maintain / reliable etc. I'm guessing it's a manual by the way... 

 

I've just bought my lease for the reasons above and that leasing now seemed to be quite a bit more expensive than it was ~2 years ago. I looked at similar priced used BMWs / Mercs but the potential higher costs put me off them. Plus they're everywhere, vRS's aren't. 

[Vallumlj]

Mine has the DSG box.

[Ootohere]

@Vallumlj

So is all the servicing done to schedule, has the DSG had 2 oil changes already?

 

[Vallumlj]

not sure it has been to skoda for a service three times for a service not sure what its had but its under a service plan

I am thinking it could be expensive now 10k and in 2 years with 160k on the clock I don't think it will be worth much.

[Ootohere]

A Service plan does not usually include the DSG oil changes at 40,000 and 80,000 miles. 

You need to check on that, there should be a record.

What about the Brake Fluid change, that is usually an extra charge?

 

Is it overdue an oil change now if that was done at 20,000, 40,000 & 60,000 miles on Variable / Flexible Servicing?

Edited 5 March, 2020 by Roottootemblowinootsoot

[Vallumlj]

On the service screen on the computer it has another 8k till a service I will check with Skoda tomorrow 

[Swirly182]

I've been in high mileage DSG octavia diesel taxis which seemed OK. But for me this would be the risk in terms of repair cost IF it went wrong. Most of your miles must be motorway though so in theory it's not repeatedly going up and down the gears, and not working as hard? Reducing the likelihood of any issues as long as its serviced well as stated above. 

 

£500 a month on a lease is a lot of money! I'd still be tempted to buy it. £10k isn't a lot for a 2 year old vRS. Mine was significantly more! 

Edited 5 March, 2020 by Swirly182

[OldBoyScout]

3 hours ago, Vallumlj said:

in 2 years with 160k on the clock I don't think it will be worth much.

I would still be inclined to buy it. As you are looking to do 40K miles each year, you are going to have to take a big hit whichever way you decide to go. As you will own the car, you will be free to sell it at any time, and do not necessarily need to keep it for 2 years. You could sell it earlier or later depending on how things went.

 

[OldBoyScout]

DPF should not be a concern at present, but may become more of a concern as you approach 160K miles and the ash content builds up. You should be able to monitor what is going on in the DPF for a modest outlay using a suitable bluetooth diagnostic connector, e.g. Carista, and the VAG DPF app (Android).

 

[classic]

12 hours ago, Vallumlj said:

not sure it has been to skoda for a service three times for a service not sure what its had but its under a service plan

I am thinking it could be expensive now 10k and in 2 years with 160k on the clock I don't think it will be worth much.

£10,000, if you run it for 2 years and then scrap it for £0 it’s £416/ month. In reality even at 160k miles it’ll be worth something so I would keep it based on your lease costs.

If the £500/ month lease includes maintenance, tyres etc then, maybe, lease wins.

I personally think that regards reliability then these cars/engines are proven to survive 160k miles in 4 years. Being stood doing nothing is what causes problems on cars. 40k a year is the kind of good workout they like.
 

 

 

Edited 6 March, 2020 by classic

[Ecomatt]

The way to work it out is to first decide how long you want to keep the car for and how much the payments will be each month for the outstanding amount. Also see if they are overcharging you like for like of cars currently on sale with the same spec and mileage.

Then I would add up the cost of a timing belt/water pump change and general servicing etc over that time period. Then compare that to what a new lease would be over the same time period. You will have your answer there. 

However new cars can be problematic and if your car has been reliable and you like it, then I would opt to buy yours.

[SurreyJohn]

3 minutes ago, Ecomatt said:

The way to work it out is to first decide how long you want to keep the car for and how much the payments will be each month for the outstanding amount. Also see if they are overcharging you like for like of cars currently on sale with the same spec and mileage.

Then I would add up the cost of a timing belt/water pump change and general servicing etc over that time period. Then compare that to what a new lease would be over the same time period. You will have your answer there. 

However new cars can be problematic and if your car has been reliable and you like it, then I would opt to buy yours.

 

This is good advice

choice is new car, £500 per month = £12,000 over 2 years

existing car £10,000 plus approx £2000 repairs/servicing as above = £12,000

 

Not a lot in it (you might get bit extra on resale, but could get hit for big repair bill)

 

Might be worth trying to seek out a good run out deal on an existing mk3 Octavia (providing you are happy to take an already built spec) as will be clearing out the stocks of mk3s with the new mk4 just around the corner.   

 

Perhaps even look at a 2 year PCP rather than lease (and just factor in your excess mileage into cost, may be a lot lower excess rate than on some lease deals).  Will really depend on the initial discount as you appear to be committing to pay around £6000 per year however you do this.

 

[WayTooTall]

Given the Mark 3 has been out for about 7 years now, you can see that the car is pretty reliable, otherwise this forum would be full of people talking about all issue that they have. I would expect you to get a lot more than 2 years out of the car. So while there is that 10k initial cost, every year you can run the car is saving you 6k-servicing and maintenance costs.

 

Also knowing you are happy with the car, and that it is running well and know the history is worth a lot as well.

I know I am keeping my 14 plate vRs for many more years.

 

[Vallumlj]

I have booked it in for a look over and getting the dsg oil change and said I would buy it thanks for your help

[Swirly182]

A fine choice you have made 👍 

[Guest]

17 hours ago, Vallumlj said:

I have booked it in for a look over and getting the dsg oil change and said I would buy it thanks for your help

 

Unless I've missed it, you haven't said what car / engine / gearbox you have?

 

If it were me, I'd go to WeBuyAnyCar or somewhere similar and get a price. My goal would be to make the lease company an offer for their car rather than let them offer me the car. You may get it it for £9k - who knows.

[Vallumlj]

Sorry it’s a Octavia vrs black with Apple play etc dsg they have come down £250 in the price and it’s a flat 10k now I think I am going to go for it 

[Guest]

In that case...  sounds like a wise move. Hard for anyone to predict what he future holds but you'd seriously have to be unlucky for your car costing £12,000 over next 2yr.

 

Your car is a 67 plate?  Well in lieu of a crystal ball, I wonder then what price WBAC would quote for a 65 plate with 150k miles ( or whatever you estimate the mileage will be in 2yr time ). It should give you a rough estimation what your car will eventually be worth.

[Tilt]

In two years time at only five years old then it has to still be worth five grand ish surely........and auto's are always in short-ish supply.

Certainly a few grand at least......

 

................assuming it will be reasonably well looked after.........and that the corona virus hasn't finished us all off in the meantime.

Edited 7 March, 2020 by Tilt

[Alex-W]

Bit late, however I'd get rid.

 

I'm usually an advocate of buying cars, however for me the maths doesn't work out.

 

As said above, the cost isnt much in it.  10k Vs 12k.  The question is, will you spend £2k on additional things going wrong?  In 80k, quite easily I would think.

 

Get another brand new car and you don't have that hassle, or risk.

You clearly do a lot of miles, therefore what are the implications of you being without a car for a week if anything does go wrong?

 

In my situation, I'd buy...  But in a situation where you're doing those miles and I can only assume depending on that vehicle, that's a big gamble imo.

 

[Vallumlj]

thanks for the reply I don’t think there is much it in what I am hoping is the car is worth something when I sell it on 160k or it does another year. Also I can sell it when ever I want to and with a lease I have to keep it

[cheezemonkhai]

Also a lease is x months plus 23/36 payments of £500 so you’re automatically saving x months up front.

 

you can probably buy a 2 year warranty to cover only the expensive stuff.