GolfGTIforum.co.uk
Model specific boards => Golf mk8 => Topic started by: richwade80 on 22 November 2021, 12:55
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Hi Everyone,
i have a new GTi on order from June. The plan was to trade in the current one, but then everything got delayed etc.
my current GTi finance should end in December, and so i was expecting to pay the balloon payment - i was okay with this (as it gave me selling options), but was aware that VW might offer an extension to the finance.
i called VW finance to check, only to be told that the agreement has been extended by the dealership by 3 months without my knowledge. If true, this appears to be an interest free extension - i make more monthly payments and the balloon goes down by the same. While this might be fine - all of this has happened without any consultation so i have zero paperwork confirming what the new arrangement is, or who the arrangement is now with.
anyone else had this?
can they just amend your agreement without your confirmation?
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Pretty sure that if either VWFS or VW UK make any changes to an existing finance agreement, you must be notified in writing before said changes come into effect.
In any case, if you still want to pay off your balloon payment in December, there's nothing stopping you from doing that anyway.
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I'd be amazed if they can vary the contract unilaterally. I've had VW PCP in the past and I can't recall seeing anything which would have allowed that to happen.
If it's interest free and there are no penalties then I suppose there's no harm. If you want to settle the finance, for example to sell the car on, you would still have that option.
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i am told that the deal is completely flexible, so i can pay it off whenever i want etc. all i am missing is paperwork, so i have asked for that. i can't imagine how they can vary it without making you aware, but it seems to have happened. i would not have known until i made regular monthly in December.
the three month extension is unlikely to be enough, so after that it might just keep going. i am all for this so long as it is interest free.... i want to see that in writing though.
i sincerely hope the new car is going to be worth it.....
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They will extend it up to 6 months.
I did this on my last golf.... all of the extra payments are capital, there is no interest - ie you make 6 x £100 payments and the balloon payment comes down by £600.
You are basically driving the car for "free".
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They will extend it up to 6 months.
I did this on my last golf.... all of the extra payments are capital, there is no interest - ie you make 6 x £100 payments and the balloon payment comes down by £600.
You are basically driving the car for "free".
It's interest free, but it's not free if you end up simply giving it back rather than paying off the balloon payment or using the equity towards another car (which are unobtainable at the moment).
The real downside to this arrangement is that if you were wanting to be in a new car, right now you're riding around in a car whose warranty has expired. If something big goes bang in the meantime...
In that situation I'd hope VW would offer you a warranty extension while you wait for a new one, once an order is placed.
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I've had my Mk8 for 6 months now and I love it. I wish the software was more reliable, but the plusses outweigh that problem.
I hope they'll have sorted it by the time you get yours Rich, but even if they haven't, I don't think you'll regret it.
:smiley:
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I've had my Mk8 for 6 months now and I love it. I wish the software was more reliable, but the plusses outweigh that problem.
I hope they'll have sorted it by the time you get yours Rich, but even if they haven't, I don't think you'll regret it.
:smiley:
Cheers, my thoughts / hopes exactly.
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They will extend it up to 6 months.
I did this on my last golf.... all of the extra payments are capital, there is no interest - ie you make 6 x £100 payments and the balloon payment comes down by £600.
You are basically driving the car for "free".
It's interest free, but it's not free if you end up simply giving it back rather than paying off the balloon payment or using the equity towards another car (which are unobtainable at the moment).
The real downside to this arrangement is that if you were wanting to be in a new car, right now you're riding around in a car whose warranty has expired. If something big goes bang in the meantime...
In that situation I'd hope VW would offer you a warranty extension while you wait for a new one, once an order is placed.
Well you can only get the extension if you are buying another VW normally...and you have an order number.
As for warranty extension, if you PCP for 4 years you don't get a 4th year warranty for free!
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I've had my Mk8 for 6 months now and I love it. I wish the software was more reliable, but the plusses outweigh that problem.
I hope they'll have sorted it by the time you get yours Rich, but even if they haven't, I don't think you'll regret it.
:smiley:
Cheers, my thoughts / hopes exactly.
Yes by and large its a nice car to drive and maybe sometime soon the annoying software problems will go away.