GolfGTIforum.co.uk
Model specific boards => Golf mk6 => Topic started by: bcarlin on 19 January 2012, 22:13
-
i just looked on autotrader to see if the gti's are holding there money well and i can tell you they are not !
same age/spec of mine going for £3k less than i paid 6 months ago :cry:
-
Nothing is going to hold it's value in the current climate. But I think you'll find that the GTI will lose less than say an Astra VXR or Focus RS in the same period.
-
A friend just returned a car he had purchased brand new, MINI Cooper, only 4 months out of the factory, had depreciated £7k. Thankfully he didn't suffer a loss as the car was returned for a full refund due to a fault. :smiley:
-
ill not be selling mine for another 2 years or until i see the mk7 gti in the flesh
-
Mine won't be going now until the Mk7 is released, most likely a trade in.
-
having bought new GTI earlier this year and new Audi A3 in the last 2 years i can safely say it really is the fastest way to burn your money!! :laugh:
-
We all know your going to lose a fair bit of money when we buy them, its not too bad ive lost 6k in a day on shares :cry: :laugh:
-
What you have got to forget about is the money you spent of spec as that money is instantly burnt. Also what you have to remember is if there are give away agents knocking 10% of a new gti then who is going to pay an where near list for a used car. If it's only 3k cheaper than new but the time you get a deal on a new one you will be at least half way there. Like said above you could of bought something else new and will of lost insane amounts. Imagine buying a new Passat 1.6 tdi for 21,000 and then seen 9 month old cars out there for £14999.00.
-
Does it really matter if it's lost £3000 in 6 months? You only realise a loss when you sell it. The simple answer is, don't sell it. Just enjoy it for many years to come.
-
Does it really matter if it's lost £3000 in 6 months? You only realise a loss when you sell it. The simple answer is, don't sell it. Just enjoy it for many years to come.
This is one option... as the depreciation becomes less year on year, the overall loss spread out over a longer period will mean your average cost over a year is less.
However this being a mk6 gti board, most will enjoy having a new car and therfore change relatively often.
dare I mention a lease as being the most cost effective way of runing a gti :lipsrsealed: :grin:
-
I just prefer the satisfaction of knowing that all I have is actually mine. Probably a very outdated way of thinking nowadays, but if I did want to change any of the cars, I know I wouldn't have to worry about how small an amount of equity I had in it.
-
^^^^^im outdated too then but its the way i like it and its the cheapest way for a private buyer.
-
Does it really matter if it's lost £3000 in 6 months? You only realise a loss when you sell it. The simple answer is, don't sell it. Just enjoy it for many years to come.
Making sense again :wink:
-
I'm outdated too. I like the freedom of driving my car as much as I like.
-
Yes.. many people feel like the car doesnt belong to them, and therefore overlook leasing. I see this as a positive, why would you want to own a depreciating asset :laugh:
Lets face it.. most people finance anyway. So is the car really yours anyway?? :lipsrsealed:
-
mine is 100% mine :lipsrsealed:
-
Mine is 100% mine. :smiley:
-
To me there is a very simple rule to remember with cars - to you (the punter) most cars half in value every three years, note this basic rule also applies used. Some do better, lots do worse, but all cost loads£££££££££.
Lease vs buy - complicated depends on lots of factors, how long you keep, the deal you can get, the cost (or not) of finance, etc.
Each to his own. Cars are very personal, often not very rational things. Most important, get what you really want and enjoy!!!!!
-
Leasing, Finance or PCP whatever they are called are not cheaper than buying with cash for a private buyer.
-
mine is 100% mine :lipsrsealed:
100% mine too, no loan, no lease, no HP etc.
I don't think I'll use savings again to buy a car, it's too real when you see what your savings account used to look like and how much the car is worth now.
Next car I'll put down a hefty deposit and borrow the rest and leave the savings well alone.
Jim
-
^^^^ its catch 22 i couldn't stomach making payments that were more than my mortgage.
-
Leasing, Finance or PCP whatever they are called are not cheaper than buying with cash for a private buyer.
thats not always true. In most cases I could put 25k to enough use to see a much better return than you would expect to pay on most finance deals.
... but again down to preference and circumstance. there is no set way. :nerd:
-
^^^^ we have been through this before :smiley: i make money with other money which enables me to buy myself a treat now and again. You lose money on most things in life, we are not here that long even if you live till you are 90 :smiley:
-
Mine is 100% mine. :smiley:
+1, it's the only thing I've ever really owned outright, and because of that I love it even more.
-
I dont think anyone on here needs educating on how they should fund or buy a car, you all have lots of experience probably. I know having sold these things that if I wanted to change the car every 3 years then in terms of monthly out goings vs depreciation, contract hire is the cheapest. If I knew I was going to keep it for alot longer than that then I would buy it on PCP for the safety of it vs HP.
To some it up they are sickeningly expensive things to own ; ) but we love them.
-
I know having sold these things that if I wanted to change the car every 3 years then in terms of monthly out goings vs depreciation, contract hire is the cheapest.
That's all well and good Lee, but there are some of us that just don't want the tie of monthly payments for anymore things than those that are absolutely necessary, like utilities and mortgage for those that still have one.
Being self-employed with an irregular income, means I can't always support regular out goings. But that's just me.
-
He's a salesman he's bound to say that :smiley:, unless now Vw or whoever borrow you 20k and say you only give us back 20k over 3 years.
-
I'd have to agree with the sentiments that there is no ideal way to purchase a car. It all depends on personal circumstances. Golfs do tend to be bought by people with their own money more than other similar cars and VW are always careful to keep it that way, so there will be a good mix of owners on these boards.
I'm another that owns the car 100%, privately financed and no company car allowance or other aids. Just sheer hard saving and careful negotiating over many years to build up to where I am. If I didn't have the money to buy a nearly new car I doubt I'd PCP or whatever, I'd just buy an older VAG car and be content with that.
Different generations and financial circumstances (and spending habits) suit different people and we're 'lucky' that there are many more options of owning new or newish cars now than a few years ago. Let's just say it's much easier to 'own' a new car nowadays.
Back on topic: As to value, constant rumours of the next generation Golf will always affect depreciation, and I think as mk6 owners we all knew this would be the case in buying a facelifted mk5. I think the mk6 is good enough not to be disgraced alongside the next generation car so we don't have too much to worry about if we decide we can't afford or don't want to afford the next generation car. Personally I've now got the spec I'm happy with so if I have to keep the car 20 years so be it, I'm not going to play silly buggers with the market any more!! These things are just getting far too expensive for average private buyers when new.
Having said that, part of the fun of ownership of my cars has been the chasing deals when changing car and buying and selling the modifications I've bolted on it (I've only ever modified my cars enough to be able to unbolt stuff quickly in the event of a sale). My GTIs (and Cupras and TDIs) over the years have been my hobby as well as my transport so I guess it makes more sense for me to buy outright (if and when I can afford to) so I don't upset lease or financiers by changing the spec from factory standard.
I bought my first mk6 around Sept 09 after many months of getting my finances in shape and phoning around for deals. After around 12 months I started getting a price for it as there were rumours of a company car scheme at work, it had dropped only about £1800 at book value from what I paid at that point. Though dealers were very reluctant to pay book.
A year later when I had decided I wanted a car with significantly better spec the book price had dropped away a lot, lot more. With a lot of persistance I got a good price for it but I know fully well the car I bought, having much higher spec, will drop like a stone in value. Que sera.
(Both cars ex-demos)
-
He's a salesman he's bound to say that :smiley:, unless now Vw or whoever lend you 20k and say you only give us back 20k over 3 years.
I dare say you could negotiate a 0% finance deal with a VW dealer, but you won't get as good a discount. You can't have it both ways. Someone, somewhere has to pay the interest on any finance deal.
-
He's a salesman he's bound to say that :smiley:, unless now Vw or whoever lend you 20k and say you only give us back 20k over 3 years.
I dare say you could negotiate a 0% finance deal with a VW dealer, but you won't get as good a discount. You can't have it both ways. Someone, somewhere has to pay the interest on any finance deal.
If we did a interest free offer on £20,000 over 3 years it would cost us £1942 to do it..............so not going to much room at all for discount.
Yes I am a salesman but not saying what I have for the sake of it I am just stating facts.
Its a case of people are very proud and everyone wants to say I paid cash for it or I am paying cash where in reality its funded in some method. I still cant get my head round people thinking cash gets them a better deal. I guess it was a thing of the past before I was born : )
-
I paid cash for mine, it was not a loan in any way, I had shares that I sold to buy the car.
It is better to pay proper cash than any other method as there's no interest to pay to anyone, discounts can be had as the dealer doesn't have to protect the car cost when giving away interest free credit.
There is no doubt in my mind that cash is the best way compared to any other payment, again as a few people have said, it's each to their own but you can't argue that finance is better or the same as cash as it simply isn't.
Jim
-
Evo i will come to you next time if you say you can beat cash. Im interested by these facts educate me please give me an example of my car a Edition 35 3dr manual with metalic paint. I think retail was £27995. Maybe you can change my mind and make me more modern.
-
I paid cash for mine, it was not a loan in any way, I had shares that I sold to buy the car.
It is better to pay proper cash than any other method as there's no interest to pay to anyone, discounts can be had as the dealer doesn't have to protect the car cost when giving away interest free credit.
There is no doubt in my mind that cash is the best way compared to any other payment, again as a few people have said, it's each to their own but you can't argue that finance is better or the same as cash as it simply isn't.
Jim
Paid cash for mine too and I agree, discounts can still be had.
The dealer would obviously like you to take some form of VW backed finance package. As well as, I suspect, earning commission on this, they'll no doubt also have monthly targets to meet on these products as well as the number of vehicles sold. Plus, there's a greater chance of hooking the customer into the VW brand for the long term - e.g. with VW Solutions, 2 of the 3 available options keep the customer in a VW branded vehicle at the end of the contract term.
Call me old fashioned, but for me, I still prefer to pay cash and own my car.
-
Buy any new golf on VW solutions get 30,000 miles of servicing for only £99. Settle it any time you like even before you pay you first payment and save £230. Because the service plan is £329 now.
Done.
-
Anyone any ideas what sorta discount VW offer for second purchase? I currently drive a jan 09 golf 1.4 and it ends in or around june after 42 months, i would love to step into a GTI/GTD but think it would be a touch too expensive so im thinking perhaps a 1.4 GT 160 or GT TDI 140, any ideas what sorta discount they offer? Also consider i had a tonne of problems with this car and its been in with the dealers for a month next week of which i had to involve head office of the issues, 3rd or 4th time its been in with these several issues.....
Cheers in advance :)
-
Evo i will come to you next time if you say you can beat cash. Im interested by these facts educate me please give me an example of my car a Edition 35 3dr manual with metalic paint. I think retail was £27995. Maybe you can change my mind and make me more modern.
Thought as much typical salesman :smiley:
-
I think I am in the same boat as evo here.... why would you want to pay cash for something that is going to lose you thousands the minute you drive it off the fourcourt?? :huh:
Why not just pay the amount the car will lose in value over a set period of time?? :rolleyes:
It is virtually the same thing as buying the car outright only with the above mentioned method you keep your £20k in your bank.
So to all those who say I own my car out right.... good on ya!! You have the same car on your drive as the person who choses to lease his, only he has £20k in his bank. :cool:
-
I think I am in the same boat as evo here.... why would you want to pay cash for something that is going to lose you thousands the minute you drive it off the fourcourt?? :huh:
Why not just pay the amount the car will lose in value over a set period of time?? :rolleyes:
It is virtually the same thing as buying the car outright only with the above mentioned method you keep your £20k in your bank.
So to all those who say I own my car out right.... good on ya!! You have the same car on your drive as the person who choses to lease his, only he has £20k in his bank. :cool:
what about all those monthly payments, elementary maths, no wonder the country is in the state it is :smiley:
just to add don't the value of a car go down the minite you drive it off the forcourt if you don't pay cash for it, the world has gone mad Vw will give me a ed35 for a total of 25k if i have it over 4 years :laugh:
-
I think I am in the same boat as evo here.... why would you want to pay cash for something that is going to lose you thousands the minute you drive it off the fourcourt?? :huh:
As I said earlier
"Does it really matter if it's lost £3000 in 6 months? You only realise a loss when you sell it. The simple answer is, don't sell it. Just enjoy it for many years to come."
-
Evo i will come to you next time if you say you can beat cash. Im interested by these facts educate me please give me an example of my car a Edition 35 3dr manual with metalic paint. I think retail was £27995. Maybe you can change my mind and make me more modern.
Thought as much typical salesman :smiley:
I don't understand I told you above an instant benefit of funding the car. Would you not want to save another £230? Typical naive customer........thinking everyone is out there it rip people off.
-
Evo i will come to you next time if you say you can beat cash. Im interested by these facts educate me please give me an example of my car a Edition 35 3dr manual with metalic paint. I think retail was £27995. Maybe you can change my mind and make me more modern.
Thought as much typical salesman :smiley:
I don't understand I told you above an instant benefit of funding the car. Would you not want to save another £230? Typical naive customer........thinking everyone is out there it rip people off.
Whoopi do I want to save a damm site more than that. Talk real money, how much will a ed35 cost over 3 or 4 years.
Typical salesman
-
Surely the guy who is leasing with £20k in the bank still has to make monthly payments on his car.
-
So what are you expecting your car to be worth in 3 years time? That's if used car prices don't melt like they did early 2009. Also it will at that point be an old model, with an even older engine?
-
Surely the guy who is leasing with £20k in the bank still has to make monthly payments on his car.
that will be £20k in his bank rather than tied up in his car. The car will be worth the same :wink:
-
if i did keep it that long which i won't i think it would be worth at least 12k, i do no more than 7k a year in it and i keep my cars mint, i would sell private, have done with 6 out of my last 7 Vw's
just to add you would have to pay at least 12k for a 5 year old mint ed30 with low mile today so id proberly get more than 12k after 3 years for mine.
-
my car is a 09 model, i am planning on keeping it another 2 years and i hope it will be worth minimum £10k
-
Spot on reckon so let's say you got a deal on the new 35, over 3 years thats £14,000-£15,000 depreciation. So £389-£417 a month in depreciation. Would you not rather contract hire one for a similar payment with no risk that your car is potentially only worth £10,000 in 3 years therefor cost you more. Keeping your wedge of cash in the bank earning money as well. Also getting 3 years road tax as well : )
Simples.......
-
Spot on reckon so let's say you got a deal on the new 35, over 3 years thats £14,000-£15,000 depreciation. So £389-£417 a month in depreciation. Would you not rather contract hire one for a similar payment with no risk that your car is potentially only worth £10,000 in 3 years therefor cost you more. Keeping your wedge of cash in the bank earning money as well. Also getting 3 years road tax as well : )
Simples.......
So roughly speaking both fronting up cash and paying per month will result in similar levels of financial expenditure.
But with cash there's the cold hard fact that if your income stops, you own your vehicle. Whereas with any other method of payment, the car is legally owned by another party.
Surely the guy who is leasing with £20k in the bank still has to make monthly payments on his car.
that will be £20k in his bank rather than tied up in his car. The car will be worth the same :wink:
That's a fair answer, but the fact remains that the individual making payments will still have spent similar levels to the individual who paid cash at the end of the example 3 year period, but have had no real security over the vehicle.
-
Answer this.
If someone pays cash for the vehicle, who owns the vehicle.
If someone pays in monthly instalments, who owns the vehicle.
...
I prefer to own my vehicle.
-
Not really no cause i got near enough 2k off any how. Going off Vw solutions on a ed35 27.5k.
8k down (near enough max you can put down)
35 payments @ 334.48 = 11706.8
acceptance fee 125
total price spent dont purchace at end £19831.8 If decide to purchace payment of £11365.8 plus £60 fee, total £31072.6
if i sell mine for 12k its cost 14k if i keep cost a smidge over 26k
-
Not really no cause i got near enough 2k off any how. Going off Vw solutions on a ed35 27.5k.
8k down (near enough max you can put down)
35 payments @ 334.48 = 11706.8
acceptance fee 125
total price spent dont purchace at end £19831.8 If decide to purchace payment of £11365.8 plus £60 fee, total £31072.6
if i sell mine for 12k its cost 14k
Although I agree with your point, what you have put here could be misleading. The comparable figures are the £19k payment total and the £14k depreciation costs, although realistically I'd estimate a £10k selling price so £16k depreciation.
The £31k figure should be compared to the £27.5k (say £28k to keep it simple) original purchase price.
So in both scenarios (going by your figures), the payment option works out £3-4k more expensive over the course of vehicle ownership.
-
Surely the guy who is leasing with £20k in the bank still has to make monthly payments on his car.
that will be £20k in his bank rather than tied up in his car. The car will be worth the same :wink:
That's a fair answer, but the fact remains that the individual making payments will still have spent similar levels to the individual who paid cash at the end of the example 3 year period, but have had no real security over the vehicle.
[/quote]
Thats exactly my point.. Why would you want security over a vehicle when you can have a cash lump sum in the bank?? :undecided:
I know which one I would rather have... but here are a few scenarios for you to consider..
If someone drives into the side of your car causing it serious damage but not enough for the insurance company to write it off?
Your GTI is stolen ragged to death and the found abandonded by the police?
in to it further.
You car engine blows, do you really want it back after the VW monkeys have been all over it?
Just to add that leasing also pays your car tax for the period of the lease.
I am again not saying one method is better that the other... just trying to explain the benefits to those that chose to dismiss the idea without looking into it futher.
-
^^^^ i had someone smash into a previous car, kept it a few months just px'd it after a year to a dealer, (only time ive px'd a car, i ve not got the heart to sell to someone private without telling them)
the car will not be recorded if it a economical repair if its a good job no one will know.
It goes without saying there are pluses & minuses and we all have different situations etc all im saying is its cheaper with cash, no such thing as a free lunch.
-
I'm considering options on next purchase too, due to the massive rise in list prices.
The thing against the solutions type deals though is we don't do many miles in the car, max 20k in 3 years. Therefore although we will get depreciation, at least as car is low miles and kept mint, it will be worth a little more than trade or GMFV I would hope to expect?
From my understanding of all these lease type deals, I cannot sell the car private, before paying the 'option to purchase fee', because I wouldn't leagally own the car.
Therefore for me I'm not sure its the best deal.
However I do agree that having £28k - £30k tied up in a car is not the best option, but at least we can sell at anytime.
You don't really get a great deal of interest anyway on £25k in a bank anyway I would expect, unless someone can tell me different?
Dave
-
^^^^ you should get a decent price in 3 years selling private, try getting a 5 year old mint low milage ed30 for 50 % of original price of just over 22k
-
Spot on reckon so let's say you got a deal on the new 35, over 3 years thats £14,000-£15,000 depreciation. So £389-£417 a month in depreciation. Would you not rather contract hire one for a similar payment with no risk that your car is potentially only worth £10,000 in 3 years therefor cost you more. Keeping your wedge of cash in the bank earning money as well. Also getting 3 years road tax as well : )
Simples.......
What are contract hire figures coming out at on the gti lee????
Interesting debate this, I have been looking at swapping my a4 for a little while, this makes you realise how much you lose on a new car! Although it isn't a year old yet so prob the worst time for depreciation, I contact hire my works van so understand it pretty much perfectly. I am very tempted to contract hire a car next ime 2 reasouns really I am sick of the depreciation and it may make me keep the car for longer.....some deals are better on a 2 year contract than 3 years...
-
mine was on a 2yr mojo... and lets just say it was very cheap compared to buying the GTI. :cool:
-
mine was on a 2yr mojo... and lets just say it was very cheap compared to buying the GTI. :cool:
Was that from autobuddy?????
seen a link you have posted to there before.
-
mine was on a 2yr mojo... and lets just say it was very cheap compared to buying the GTI. :cool:
Was that from autobuddy?????
seen a link you have posted to there before.
no mine was through VW fleet.. although the link was found through contracthireandleasing.com :nerd:
-
mine was on a 2yr mojo... and lets just say it was very cheap compared to buying the GTI. :cool:
Was that from autobuddy?????
seen a link you have posted to there before.
no mine was through VW fleet.. although the link was found through contracthireandleasing.com :nerd:
You still got any contacts???
i could go through carfile as they deal with the fleet departments and i have brought a car from them before...
-
mine was on a 2yr mojo... and lets just say it was very cheap compared to buying the GTI. :cool:
Was that from autobuddy?????
seen a link you have posted to there before.
no mine was through VW fleet.. although the link was found through contracthireandleasing.com :nerd:
You still got any contacts???
i could go through carfile as they deal with the fleet departments and i have brought a car from them before...
fleet always offer a much better sales service anyway... not much waiting around for your car either. Fleet usually seem to get priority :wink:
-
mine is 100% mine :lipsrsealed:
100% mine too, no loan, no lease, no HP etc.
I don't think I'll use savings again to buy a car, it's too real when you see what your savings account used to look like and how much the car is worth now.
Next car I'll put down a hefty deposit and borrow the rest and leave the savings well alone.
Jim
I own mine 100%. Your thinking on the finance is a little flawed though, as by the time you've paid interest on the loan you'll be worse off overall [Especially with the current low interest rates on savings]
-
Owning mine is what makes me enjoy it so much.
-
I still think my mates idea of making it law to have a sticker on a car to show if its paid for, a hire car, a company car, contract etc is a good idea would stop alot of the snobbery and one upmanship out there and then you would also know who to avoid!
I avoid all cars with a letter e on the back as they are europcar hire cars and driven as such.
A mate of mine has just lost 6K on a BINI clubman S compared to what he paid for it 6 months ago when part exed against a JCW and they gave him 1K more than book for it. So the GTI's arn't doing too badly!
-
Took my car into the dealers today for some minor work under warrenty,when leaving they gave me a letter telling me they want to buy my car :undecided:
-
Took my car into the dealers today for some minor work under warrenty,when leaving they gave me a letter telling me they want to buy my car :undecided:
Did they make you a good offer. Fancy trading it in for an ED35? :wink: :wink:
-
Is the green e not enteprise?
-
Is the green e not enteprise?
yes i got them mixed up as there right near each other here.
-
Think i'm going to be selling mine soon. I've moved in with the other half and I am now using public transport, a bit gutted cause it's by far the best car I've ever had my paws on but I have absolutely no requirement for the car now.... i'm going to spend the next few weeks getting rid of all the nasty grime from the winter and get it looking the way that i would want to buy a second hand car and sell it....
If there's anyone lurking on the forum who is in the market for a GTI feel free to give me a shout.... i'm open to offers :smiley:
-
Took my car into the dealers today for some minor work under warrenty,when leaving they gave me a letter telling me they want to buy my car :undecided:
Did they make you a good offer. Fancy trading it in for an ED35? :wink: :wink:
They did'nt make me a offer they wanted me to come back so they could make me a offer,I would'nt mind a ed35 but to be honest I would just be wasting money,mine has 11,000 miles on the clock and it is immaculate I would just be changing it for the sake of having a new car
-
Took my car into the dealers today for some minor work under warrenty,when leaving they gave me a letter telling me they want to buy my car :undecided:
They don't want to buy it per-say, they want you to buy a new car from them. They're trying to sow a seed in your mind.
Same thing happen a couple of years back. My wifes 307 Dturbo had been into Budgen and a couple of weeks later we got a call saying that they had customers asking them for 7 year old cars, so would we consider selling it. Pah! A likely story.
-
Took my car into the dealers today for some minor work under warrenty,when leaving they gave me a letter telling me they want to buy my car :undecided:
They don't want to buy it per-say, they want you to buy a new car from them. They're trying to sow a seed in your mind.
Same thing happen a couple of years back. My wifes 307 Dturbo had been into Budgen and a couple of weeks later we got a call saying that they had customers asking them for 7 year old cars, so would we consider selling it. Pah! A likely story.
It's true ; ) we would love to own your 8 year old 120,000 Passat estate sir, when can you bring it in for us to value?
-
It's true ; ) we would love to own your 8 year old 120,000 Passat estate sir, when can you bring it in for us to value?
I'll be down at the weekend Lee. By the way, my Passat will not be 8 years old until June and has only done 94,000, so hopefully will be worth £40-50 more than you were thinking of offering me.
Either way, I'm sure you can sort me out a deal that gets me into a V8 Touareg with just my car as a deposit and nothing more to pay to 2 months. I can't wait.
Ooooooooo I'm all excited now.
-
Took my car into the dealers today for some minor work under warrenty,when leaving they gave me a letter telling me they want to buy my car :undecided:
They don't want to buy it per-say, they want you to buy a new car from them. They're trying to sow a seed in your mind.
Same thing happen a couple of years back. My wifes 307 Dturbo had been into Budgen and a couple of weeks later we got a call saying that they had customers asking them for 7 year old cars, so would we consider selling it. Pah! A likely story.
hook.. line...
:grin::grin:
-
Owning outright entitles you to:
Own the car regardless of Employment status
Makes use of cash sitting around in shares that drop faster than car depreciation.
Less fingers in the Money Pie that is your Golf Purchase...More fingers = More cost ultimatley.
Also from My sisters experience if your car happens to suffer a scuff, scrape or ding through another faultless driver, getting your insurance company to pay to have it done through a bonefide dealer is well night on impossible, which is important because you would jeapordise your lease agreement if you didn't. She's been rather unfortunate and had three other driver instances in the space of 6 months, very unlucky, all whilst her car was parked with nobody at the wheel or sat stationary at a roundabout. sub total of 28 hours of her life on the phone to insurance companies.
Cash = Simple, even makes for less forms on handover day I think.
Keep it Simple Stupid!
-
Took my car into the dealers today for some minor work under warrenty,when leaving they gave me a letter telling me they want to buy my car :undecided:
They don't want to buy it per-say, they want you to buy a new car from them. They're trying to sow a seed in your mind.
Same thing happen a couple of years back. My wifes 307 Dturbo had been into Budgen and a couple of weeks later we got a call saying that they had customers asking them for 7 year old cars, so would we consider selling it. Pah! A likely story.
hook.. line...
:grin::grin:
But no sinker :wink:,I'm a bit long in the tooth to fall for a car salesmans patter
-
Owning outright entitles you to:
Own the car regardless of Employment status - Also the case with a lease, providing you can make the payments
Makes use of cash sitting around in shares that drop faster than car depreciation. - Not really true... depends which shares you foolishly invested in
Less fingers in the Money Pie that is your Golf Purchase...More fingers = More cost ultimatley. Not sure I understand that
Also from My sisters experience if your car happens to suffer a scuff, scrape or ding through another faultless driver, getting your insurance company to pay to have it done through a bonefide dealer is well night on impossible, which is important because you would jeapordise your lease agreement if you didn't. - Also not true. You can always specify where you want your car repaired to your insurer. Its your car not theirs.
She's been rather unfortunate and had three other driver instances in the space of 6 months, very unlucky, all whilst her car was parked with nobody at the wheel or sat stationary at a roundabout. sub total of 28 hours of her life on the phone to insurance companies. - Accident management company would really have taken care of all that for her... esp if none of them were her fault.
Cash = Simple, even makes for less forms on handover day I think. - I didnt sign a form when my car was delivered. An employee signed for the car and they left the keys. Job done!
Keep it Simple Stupid! - According to oil baron Paul Getty, “If it appreciates, buy it. If it depreciates, lease it.” :wink:
-
I think if it's a tool to do a job for a given length of time, then leasing stacks up. You pay for what you use, then give it back.
If it's more of an emotive purchase, i.e. a private car for personal enjoyment, that you intend to keep for much longer than the average 3 years, then at some point it will need to be "owned" outright. The cheapest way to do that, always has been and always will be, is to pay cash on the day you pick it up.
-
I think if it's a tool to do a job for a given length of time, then leasing stacks up. You pay for what you use, then give it back.
If it's more of an emotive purchase, i.e. a private car for personal enjoyment, that you intend to keep for much longer than the average 3 years, then at some point it will need to be "owned" outright. The cheapest way to do that, always has been and always will be, is to pay cash on the day you pick it up.
pretty much spot on! :cool:
there is no right or wrong way of course... just good to know all the options available rather than dismissing others because you have cash.
-
What about modifications. I'm surprised no-one has brought this up yet. Lease companies don't allow you to do modifications because, at the end of the day, the car is their legal property.
Whereas with my car that I have paid for in full... there's no worries about any leasing company finding out because there's none involved in the first place.
-
What about modifications. I'm surprised no-one has brought this up yet. Lease companies don't allow you to do modifications because, at the end of the day, the car is their legal property.
Whereas with my car that I have paid for in full... there's no worries about any leasing company finding out because there's none involved in the first place.
depends if they specify you cannot in the first place :cool:
-
hmmm some people keep moving the goalposts. Untill proven otherwise outright (not cash you have borrowed)cash is the cheapest, still waiting to hear from Evo.
I really do hope im wrong, will Vw borrow me 14k (no deposit and £388.88 a month so i pay back exactly 14k) and i can either give them car back after 3 years and make further payments or i settle with a final payment of 12k and keep the car.
ive got a order for one if you can ED35 btw.
-
What you need to remember is the dealers only have so much margin to play with. If they discount the car, their margin will reduce by the amount they knock off the price.
If you take out a finance deal, they will earn commision based on the amount of money the lenders will make on the deal, therefore increasing their margin. With this increased margin, you can possibly negotiate a better discount than you would if you were paying cash. However, when you add up the total amount that you pay back over the term of the deal, even with a better discount, it would still be more than paying cash on day one
I'm sure that they could lend you money at a rate of 0%, but this would cost them money and therefore reduce their margin. Someone, somewhere has to pay the interest on the borrowed money. If they did this, it would be unlikey that you would get any discount off the screen price.
I also doubt the any dealer would lend you just £14k with no deposit to drive away in a £28k car. It's value would drop by 20% the second they put the tax disc in it, leaving you with a massive amount of negative equity straight away. Even if it was possible to do that deal, personally I wouldn't want to spend £14k over three years and have nothing to show for it at the end.
-
^^^^ yes understandable about the deposit but some sort of deal in which i only pay 26k in total after 3 years (if i kept car) or deposit plus a monthly payment over 3 years equivalent to a depreciation of 14k (inc deposit) if decided to hand car back.
p.s this then would beat my cash buy of just over 26k for my ed35 3dr plus paint.(and even then thats saying id only get 12k for a private sale of a low milage mint ed35 when im pretty confident id get more)
-
Cash is king, end of story :lipsrsealed:
-
I really don't get this leasing/renting idea....
Why would you want to lease a GTI and not be able to enjoy it properly??
-
^^^^ yes understandable about the deposit but some sort of deal in which i only pay 26k in total after 3 years (if i kept car) or deposit plus a monthly payment over 3 years equivalent to a depreciation of 14k (inc deposit) if decided to hand car back.
p.s this then would beat my cash buy of just over 26k for my ed35 3dr plus paint.(and even then thats saying id only get 12k for a private sale of a low milage mint ed35 when im pretty confident id get more)
No one is going to lend anyone any amount of money without seeing a return on it. If that's the sort of deal you are trying to get from Lee, it's no wonder you havn't had a call back.
-
What about modifications. I'm surprised no-one has brought this up yet. Lease companies don't allow you to do modifications because, at the end of the day, the car is their legal property.
Whereas with my car that I have paid for in full... there's no worries about any leasing company finding out because there's none involved in the first place.
Yeah we just have worry about the insurance companies and dealers finding out....
Jim
-
There are pro's and cons to buying and leasing, but it all boils down to personal circumstance.
My car is on PCP at the moment, and I'm happy paying my monthly payment because it's income that I'm happy to put towards a car. I'm also happy knowing that if my car is worth less than the final payment, I can hand it back and walk away. The benefit being, if the car has equity, I can put it towards another PCP deal.
I've got savings, but I'd end up topping myself if I saw a balance of x pounds dropping to d pounds in a matter of years.
I see savings as something to pass on, use in dire emergency, or help fund my elder years. Not to plough into something that's going to be worth 30% what I paid for it in a couple of years.
-
^^^^ yes understandable about the deposit but some sort of deal in which i only pay 26k in total after 3 years (if i kept car) or deposit plus a monthly payment over 3 years equivalent to a depreciation of 14k (inc deposit) if decided to hand car back.
p.s this then would beat my cash buy of just over 26k for my ed35 3dr plus paint.(and even then thats saying id only get 12k for a private sale of a low milage mint ed35 when im pretty confident id get more)
No one is going to lend anyone any amount of money without seeing a return on it. If that's the sort of deal you are trying to get from Lee, it's no wonder you havn't had a call back.
Exactly my my point against all these claims of lease, pcp contract hire or whatever they are called are the cheapest way to buy a gti (in my case ED35). Thats why i bought mine cash. I understand people not buying outright cash as i wouldn't if it skint me out. So ultimatly in leymans terms cash is cheapest until proven otherwise.
-
I really don't get this leasing/renting idea....
Why would you want to lease a GTI and not be able to enjoy it properly??
I dont understand this comment.. :huh: Why would you not be able to enjoy it properly??
I found I enjoy it more... :wink:
-
Some peolpe are seriously confused about the leasing idea.. let me try simplify it for you.
For arguments sake a GTI cost £30k
If a GTI loses £18k in the first 3 yrs. Regardless of how u finance the car... it is worth £12k after that period.
If you buy the car cash, you spend £30k and everyday you lose a set amount. In this case we are saying £6k per year (£500pm to keep it simple).
If I have lost you upto this point, it may be better you go back to sleep!! Now for leasing...
Again the GTI costs £30k... and will be worth £12k after 3 years. The loss again is £18k. It could be more.. it could be less. This no longer concerns you.
You pay VW the cost of the loss rather than the whole car. So you now pay them £500pm. Its really that simple!
The benefit??? the benefit is you have the £30k in your back... and this gets reduced slowly until the 3 years is up.
-
^^^^ Well bring your cards to the table beat my deal and i will gladly accept it, after all it will save me and people i know £, put up or shut up :lipsrsealed:
just to add i would love it to be proven wrong and ill shut up :smiley:
-
Been on Autobuddy to lease a ed35 10k pa no sevice or road tax for a 3dr manual with no paint
£472.22 + vat (£94.44)= £516.66x 36 = £18599.59
plus deposit £1611.34
so total pay after 3 years = £20211.10
So my ed35 has to be woth more than 6k after 3 years (as i paid just over 26k) to beat that. You don't need me to spell it out for you :grin:
If you don't understand that R32uk never mind going back too sleep you want to go back to school :smiley:
-
Been on Autobuddy to lease a ed35 10k pa no sevice or road tax for a 3dr manual with no paint
£472.22 + vat (£94.44)= £516.66x 36 = £18599.59
plus deposit £1611.34
so total pay after 3 years = £20211.10
So my ed35 has to be woth more than 6k after 3 years (as i paid just over 26k) to beat that. You don't need me to spell it out for you :grin:
If you don't understand that R32uk never mind going back too sleep you want to go back to school :smiley:
I paid £229pm on a 6+23 2yr contract for my GTI. Road tax included (as it always is with a lease)
Thats £6641 over 2yrs.
£276pm :wink:
Can you find me a deal that is better than that??
How do you like them apples :cool:
-
^^^^ Well bring your cards to the table beat my deal and i will gladly accept it, after all it will save me and people i know £, put up or shut up :lipsrsealed:
just to add i would love it to be proven wrong and ill shut up :smiley:
See above :grin:
p.s. I am not a dealer or have any links to the finance industry.. if you want a deal I suggest you go and find one like everyone else. :smiley:
-
Been on Autobuddy to lease a ed35 10k pa no sevice or road tax for a 3dr manual with no paint
£472.22 + vat (£94.44)= £516.66x 36 = £18599.59
plus deposit £1611.34
so total pay after 3 years = £20211.10
So my ed35 has to be woth more than 6k after 3 years (as i paid just over 26k) to beat that. You don't need me to spell it out for you :grin:
If you don't understand that R32uk never mind going back too sleep you want to go back to school :smiley:
I paid £229pm on a 6+23 2yr contract for my GTI. Road tax included (as it always is with a lease)
Thats £6641 over 2yrs.
£276pm :wink:
Can you find me a deal that is better than that??
How do you like them apples :cool:
Thats a standard gti
BTW my mk6 cost me £100/ month :wink:^^^^ Well bring your cards to the table beat my deal and i will gladly accept it, after all it will save me and people i know £, put up or shut up :lipsrsealed:
just to add i would love it to be proven wrong and ill shut up :smiley:
See above :grin:
p.s. I am not a dealer or have any links to the finance industry.. if you want a deal I suggest you go and find one like everyone else. :smiley:
I already have, try and beat it like you claim your way is cheapest,, either way im a winner :smiley:
-
I already have, try and beat it like you claim your way is cheapest,, either way im a winner :smiley:
Erm..yes of course you are.
I have clearly stated what I payed for my GTI and how, simply to highlight to others one of the possible options (as stated a few pages ago).
If your GTI cost you £100pm... as you say, prove it and let others in on your little secret :rolleyes:
After all.. we are here to help others! or are you just here to gloat?? :smug:
-
I really don't get this leasing/renting idea....
Why would you want to lease a GTI and not be able to enjoy it properly??
I dont understand this comment.. :huh: Why would you not be able to enjoy it properly??
I found I enjoy it more... :wink:
Because it's not yours.
-
I already have, try and beat it like you claim your way is cheapest,, either way im a winner :smiley:
Erm..yes of course you are.
I have clearly stated what I payed for my GTI and how, simply to highlight to others one of the possible options (as stated a few pages ago).
If your GTI cost you £100pm... as you say, prove it and let others in on your little secret :rolleyes:
After all.. we are here to help others! or are you just here to gloat?? :smug:
Brought my Gti out the showroom with discount, one of the first in country, sold 3 months later as it was not being used. I have no way of proving it, you haven't proved yours. Im not here to gloat, nobody know's me from adam on here what have i got to gain?
When it comes down to this topic you are full of $hit :grin:
-
I already have, try and beat it like you claim your way is cheapest,, either way im a winner :smiley:
Erm..yes of course you are.
I have clearly stated what I payed for my GTI and how, simply to highlight to others one of the possible options (as stated a few pages ago).
If your GTI cost you £100pm... as you say, prove it and let others in on your little secret :rolleyes:
After all.. we are here to help others! or are you just here to gloat?? :smug:
Brought my Gti out the showroom with discount, one of the first in country, sold 3 months later as it was not being used. I have no way of proving it, you haven't proved yours. Im not here to gloat, nobody know's me from adam on here what have i got to gain?
When it comes down to this topic you are full of $hit :grin:
erm yes.. ok carly :kiss:
the man who claims to have a GTI for £100 per month yet pays cash :rolleyes:
I posted the links when I got my car over three years ago. Feel free to read here
http://www.golfgtiforum.co.uk/index.php?topic=189075.0
so you bought a brand new GTI then sold it 3 months later... penny wise.. :laugh:
-
Erm yes I lost 300 on it equivalent to 100/ month. I put it like that cause its seems your nt very good at maths
-
FFS this forum is turning to sh1t, why do people have to resort to this kind of comment.
Yes another post where people don't respect the views or opinions of others...
Jim
-
Erm yes I lost 300 on it equivalent to 100/ month. I put it like that cause its seems your nt very good at maths
see opportunity cost :wink:
-
Im not even looking into this now im bored of it, if you can show me a ed35 which cost cheaper then good
-
Erm yes I lost 300 on it equivalent to 100/ month. I put it like that cause its seems your nt very good at maths
Hang on. You had a GTI for three months and you only lost £300 on it? B0llox.
I would suggest that your Maths may be as good as your English.
-
Hang on. You had a GTI for three months and you only lost £300 on it? B0llox.
I would suggest that your Maths may be as good as your English.
Something is only worth as much as somebody is willing to pay. If some idiot payed £300 less then list price on a 3month old car 2nd hand. They are a fu*ktard but it doesn't mean it didn't happen. But it would be a 1 of a kind deal im sure
-
Im not even looking into this now im bored of it, if you can show me a ed35 which cost cheaper then good
At what point did ANYONE on this thread say they could get you a ed35 cheaper?? :rolleyes:
-
If you buy a much sort after car early in its life (and i got a good discount), which it was at the time you can actually make money and some people do.
-
Im not even looking into this now im bored of it, if you can show me a ed35 which cost cheaper then good
At what point did ANYONE on this thread say they could get you a ed35 cheaper?? :rolleyes:
And so is that you admiting cash is cheaper :laugh:
-
Erm yes I lost 300 on it equivalent to 100/ month. I put it like that cause its seems your nt very good at maths
Hang on. You had a GTI for three months and you only lost £300 on it? B0llox.
I would suggest that your Maths may be as good as your English.
Oh as long as the maths are alright yuwull be allwight in life sunshine :kiss:
-
Oh as long as the maths are alright yuwull be allwight in life sunshine :kiss:
WTF is that supposed to mean?????
I think a wire may have come loose somewhere.
-
Oh as long as the maths are alright yuwull be allwight in life sunshine :kiss:
WTF is that supposed to mean?????
I think a wire may have come loose somewhere.
Elementary maths, one of the first things you learn at school, Get that right and your half way ther to making making £.
Admin any chance of cleaning this up getting way off topic now and im being bullied hahahaha :smiley:
-
Probably best this subject is dropped now, we are grown men after all :smiley:
-
Probably best this subject is dropped now, we are grown men after all :smiley:
Oi Mr Polly don't forget us ladies :grin:
-
Probably best this subject is dropped now, we are grown men after all :smiley:
Oi Mr Polly don't forget us ladies :grin:
Sorry :grin: and ladies :kiss:
-
i think we have heard enough of this crap by now, who cares how we choose to pay for the car,
lets move on :rolleyes:
-
i think we have heard enough of this crap by now, who cares how we choose to pay for the car,
lets move on :rolleyes:
Just lock it,its your thread you have the power :wink:
-
Im not even looking into this now im bored of it, if you can show me a ed35 which cost cheaper then good
At what point did ANYONE on this thread say they could get you a ed35 cheaper?? :rolleyes:
And so is that you admiting cash is cheaper :laugh:
No. Is that what it sounded like?
-
Oh as long as the maths are alright yuwull be allwight in life sunshine :kiss:
WTF is that supposed to mean?????
I think a wire may have come loose somewhere.
Elementary maths, one of the first things you learn at school, Get that right and your half way ther to making making £.
Admin any chance of cleaning this up getting way off topic now and im being bullied hahahaha :smiley:
Lol no you can all look after yourselves (apparently) :grin:
-
Oh as long as the maths are alright yuwull be allwight in life sunshine :kiss:
WTF is that supposed to mean?????
I think a wire may have come loose somewhere.
Elementary maths, one of the first things you learn at school, Get that right and your half way ther to making making £.
Admin any chance of cleaning this up getting way off topic now and im being bullied hahahaha :smiley:
Lol no you can all look after yourselves (apparently) :grin:
b!tch :kiss: :laugh:
-
Oh as long as the maths are alright yuwull be allwight in life sunshine :kiss:
WTF is that supposed to mean?????
I think a wire may have come loose somewhere.
Elementary maths, one of the first things you learn at school, Get that right and your half way ther to making making £.
Admin any chance of cleaning this up getting way off topic now and im being bullied hahahaha :smiley:
Lol no you can all look after yourselves (apparently) :grin:
b!tch :kiss: :laugh:
Glad your back :wink:
-
Oh as long as the maths are alright yuwull be allwight in life sunshine :kiss:
WTF is that supposed to mean?????
I think a wire may have come loose somewhere.
Elementary maths, one of the first things you learn at school, Get that right and your half way ther to making making £.
Admin any chance of cleaning this up getting way off topic now and im being bullied hahahaha :smiley:
Lol no you can all look after yourselves (apparently) :grin:
b!tch :kiss: :laugh:
Glad your back :wink:
Thanks I'm not one for grudges :smiley: