£1100 per month quoted on 4 year PCP - Golf R!?!?!?!?

[Ej1749]

I'm lost! How and why would someone pay that for a Golf R???

Anyone find any better deals? Or what are people paying for their GTI's?

I said to the salesman in utter shock, "how many of these have you sold since the release?". He said "We've sold quite a few" nervously... "Yeah! you've sold a few in the entire time it's been released". He saw the funny side, trying to be as salesy as he could he kept using his sales training etc, to make out it's only £1100 per month etc, but I just laughed and he hinted that they are hard to sell.

I imagine this car has had and will have more tire kickers than any other car ever produced!

Stock car available in black with performance pack and rear view camera on personal or business lease 

Oooh how much are the leases and does that come with DCC? I could never have a car without the DCC? I'll check out your site!

[Ej1749]

I can only assume this was a nearly new car for over list price at some stupid finance rate making it loads more than a new car 

We built the car with the specs I wanted and it was nearing 60K I think. I expected it to be higher than £500ish of course, but not £1100 

[Ej1749]

How do you get to 1100?

48 months, no deposit and 30k miles a year only gets to 758 a month on the VW calculator.

10k miles and a 5k deposit and you drop to 517.

Easy- I just tried.

Use their finance calculator on an R (base R, no options, not that you can do options in their calculator)... put 30k mileage, put 24 months and a 500 quid deposit.

23 monthly payments of £1,117.93

You are paying £23439 of depreciation plus interest 5.6% APR.... there's no getting away from the depreciation... its only worth £18751 after that sort of battering.

BTW only put the mileage in if you intend to hand the car back.... handing the car back is a pretty dumb thing to do on PCP anyway - lease if you want to do that, its better and cheaper. If you don't intend to hand it back, but want to buy it (and then sell it yourself) put in 10k as the mileage.... it helps a bit - £925 a month, becuause the GFV is higher - 23k

The basic problem with a short term is that you are hit with the big part of the depreciation right up front. By having a longer term you spread the initial depreciation over a much longer period, meaning cheaper monthlies.

Lastly, thats not going to be just VW - any new 42k car you want to PCP for 2 years will be like this.

In my last PCP I exercised my right to hand the car back half way through - didn't even get charged for the extra mileage 

Thinking about it, I might just lease if I can get the right spec and price 

[fredgroves]

In my last PCP I exercised my right to hand the car back half way through - didn't even get charged for the extra mileage 

Yeah if you use VT then in theory you aren't liable for the mileage - some companies might tell you otherwise though.

Remember though VT is when you've paid 50% of the value back (of the whole value of the loan including the final balloon payment), not when you've made 50% of the payments... which usually on a PCP means that you'd only be able to VT about 2 months from the end.

[evo1986]

I can only assume this was a nearly new car for over list price at some stupid finance rate making it loads more than a new car 

We built the car with the specs I wanted and it was nearing 60K I think. I expected it to be higher than £500ish of course, but not £1100 

£60,000 Golf 

Email me 

Leeevans@selectcarleasing.co.uk

[fredgroves]

I added everything possible to an R... 57k.

Fifteen grand of options... That's over three hundred a month over 48 months just for that...

Honestly how did you think an almost sixty grand car would be any cheaper?

[Ej1749]

I added everything possible to an R... 57k.

Fifteen grand of options... That's over three hundred a month over 48 months just for that...

Honestly how did you think an almost sixty grand car would be any cheaper?

Purely because when I was looking at the RS3 back in 2016 it was exactly £550 per month with a zero or £550 deposit, I can't remember exactly. That was just over £50K. Obviously, the balloon was larger. Maybe because the residuals are better on the RS3 as they hold their value well.

£50K compared to £57-£59K is a big leap but - I swear that's about another £220 per month going off £25.00 for every £1000.

Maybe, I have just always had a distorted view when comparing it to the RS3 which I assume holds it's value more.

[fredgroves]

Yeah the balloon is basically the residual value.

Looking at the moment, there's not much in it between a Mk8 R and the RS3 sportback... 48 months, 30k miles.

32% residual on the RS3, 28% on the R....

No options on either for that calc.

The RS3 on 48 months, 5k down and 30k miles per year is just under 900 a month.

Base Golf R on the same terms is 640 a month.

Back in 2016 you could get a Mk7 R could be had for 300 a month! Things have moved on with car prices!

[monkeyhanger]

Yeah the balloon is basically the residual value.

Looking at the moment, there's not much in it between a Mk8 R and the RS3 sportback... 48 months, 30k miles.

32% residual on the RS3, 28% on the R....

No options on either for that calc.

The RS3 on 48 months, 5k down and 30k miles per year is just under 900 a month.

Base Golf R on the same terms is 640 a month.

Back in 2016 you could get a Mk7 R could be had for 300 a month! Things have moved on with car prices!

Those 2016 numbers are based on standard 10k miles PA. Those residuals are hugely skewed on the basis of having a 4 year old car with a whopping 120k miles on it.

Back in late 2014 before the crazy high GFV fuelling the cheap R leases was pulled, on your standard 3 year/10k miles pa, the GFV was around 60% of RRP. If you're putting 30k miles pa on a car you're leasing or PCPing, you'll be hammered. Add in the full cost of going heavy on options spread over your term, the result is going to be truly shocking.