Hi everyone

 

I currently have a Octavia estate, SE Technology 1.0 DSG on a lease that is due to finish in March. I've been given a price of 17.5K to buy it outright (2018 plate, 23K miles). I really like the car, but have a couple of concerns, firstly whether or not it makes sense at that price, and secondly the longevity of the 1.0 engine. Does anyone have experience of high mileage with this engine? I'd plan to keep it for a good few years, doing maybe 8-10K a year.

 

Appreciate any advice, cheers 

That feels like a lot to me, but s/h prices are very high. Maybe get a quote from WBAC to see how much 'market price' is compared with that £17.5K?

 

I bought my company lease car at 3 years old in July 2018 (from Skoda finance/BCA - 2015 plate 1.4Tsi DSG estate) for £11.3K as comparison.  But irrelevant really.

WBAC offered me £10K for it in October (this year, so 3+ years after I bought it), which gives an idea of how crazy s/h pricing has become.

 

Can't offer any advice on longevity of engine I'm afraid.

I was quoted 14.5K to buy it back in August, but I thought the price would drop if I left it to the end of the lease...not a smart move with hindsight. From what I can see on Autotrader the price seems fair, I'm just wary of buying at the top of the market and the value dropping like a stone next year. Unfortunately with the lease finishing I don't have many options 🙁

I think you've answered your own question with "I really like the car".

It will cost you money to change to whatever else you have to buy to replace it.

Even if it goes mechanically wrong the saying "better the devil know" still applies. 

What's the deal if you use it against another new car? At s/h prices I'm sure they will do you a good deal and then you can ride the storm till the prices reduce a bit.

On 29/12/2021 at 11:12, timpowers said:

Hi everyone

 

I currently have a Octavia estate, SE Technology 1.0 DSG on a lease that is due to finish in March. I've been given a price of 17.5K to buy it outright (2018 plate, 23K miles). I really like the car, but have a couple of concerns, firstly whether or not it makes sense at that price, and secondly the longevity of the 1.0 engine. Does anyone have experience of high mileage with this engine? I'd plan to keep it for a good few years, doing maybe 8-10K a year.

 

Appreciate any advice, cheers 

That price sounds extortionate to me.

My advice would be to take advantage of the high price on your existing car and drop it in exchange for a deal on a new vehicle.

my PCP balloon payment on my car was £15k odd, but that was with the car being a fully specced up VRS.

 

The buying option on lease vehicles always seems to be an extortionate amount. I know a few people in my work who had cars through Leaseplan and wanted to buy them at the end of the term got a bum deal. A couple of people bought them, but a couple just couldn't justify the mark up price.

 

But, they don't want you to buy them at the end of the day. They want you to go and get another leased vehicle and carry on paying them a monthly amount. Hence putting such a financial obstacle in your way to discourage you from purchasing the car.

Personally I would just get another car. The second hand market will most likely stay high this year until the chips start making their way back in manufacturer plants. Then used car prices will drop massively and people will be stuck paying high monthly payments for a car that is not worth it and mozt likely into negative equity for a couple of years. If you buy now be prepared to keep it for at least a few years.

Seems Expensive. I bought a 67 Plate 1.4TSI with 33K miles 12 months ago for £13K, it was just 3 years old. Second Hand prices are higher at the moment, but I think you could get the 1.4TSI similar age to yours for less money.

Edited 4 January, 20224 yr by FrankNicklin

On 31/12/2021 at 07:27, TDIum said:

I think you've answered your own question with "I really like the car".

It will cost you money to change to whatever else you have to buy to replace it.

Even if it goes mechanically wrong the saying "better the devil know" still applies. 

No warranty on a car for this money though. Best forget it and buy again from a dealer and save a bit in the process and get a warranty with it. Pay a bit extra and get 2 years warranty.