GolfGTIforum.co.uk
Model specific boards => Golf mk7 => Topic started by: HA54SYM` on 15 May 2013, 19:10
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As the price of the GTi has climbed so much since the mk5, what has everyone else stumped for.
Its, a lot of cash (at £30K +/-) tied up in a car.
Dave
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I finance mine but not the full amount, usually a bit less than half.
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All cash for me I'm afraid
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£12k financed with VW over 2 years @ 6.4% APR (HP)
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£6K down, will probably overpay to my last monthly rate (£410 per month, Solutions only needs £247 per month) until I get my redundancy (Oct 2014 or June 2015 then pay the balance off in full with a bit of my lumper).
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I finance mine but not the full amount, usually a bit less than half.
Same here, about half is financed.
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I'm not buying one because I can't afford one yet, but I think there's something not quite right about telling others how I would be paying for it.
Would people openly tell others how much they had left on their mortgage?
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I've put a £6k deposit in and financed it on a PCP. After 3 years I'll be trading it in for a new car.
I can't afford to purchase it outright.
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Would people openly tell others how much they had left on their mortgage?
On a mortgage forum they might?
If you want to disclose this to other people is there a problem? If someone is offended to read it they can just skip the thread. No one is bragging, cars all cost about the same anyway but its interesting to see how popular the different ways of affording them are. We can learn and make better choices as customers. I'm not sure I see the problem here... but perhaps I misunderstood your point.
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I'm not buying one because I can't afford one yet, but I think there's something not quite right about telling others how I would be paying for it.
If money is a bit taboo for ya', why come on here and say you can't afford one?! Not sure it matters how you pay for it, cash or finance - after discounts we're all paying £25k - 30k+ in the end so it's no secret!
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I guess I'm just excusing myself for contributing to a thread that I probably shouldn't do as I'm not buying a Mk7 like the rest of you just yet.
Granted we all know what the retail price of these cars are, but my old fashioned approach to financial matters are that they should be kept private. It seems that time may have changed tho'.
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my old fashioned approach to financial matters are that they should be kept private. It seems that time may have changed tho'.
No I think you are right. But in this specific case its obvious anyways as there isn't much variation in what anyone ordering a GTI/GTD will have to pay.
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Granted we all know what the retail price of these cars are, but my old fashioned approach to financial matters are that they should be kept private. It seems that time may have changed tho'.
No one is disclosing their income though, or how much money they have stashed away - its simply just commenting on how they will pay for their car. If someone can pay cash for the whole lot then good luck to them! They've either won it or earnt it! :laugh:
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Well for me it's pretty simple - if you can afford to by a new Mk7 GTI in the first place, regardless of method, then you are in a reasonably good/stable financial position, no? It's not like people are bragging about what they earn or how big their house is and how much/little of their mortgage they have left.
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I blame Gung-Ho :laugh: The thread was only how are you financing it, which is fair enough, then they come in with specific financial details and the rest follow suit :grin:
Although its an interesting thread to see if you have a good deal or not in terms of the financing side.
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I'm leasing my through my company - 36 months with a 3 month payment upfront.
Because the emissions of the GTI are so low it actually makes it a very sensible company car as the BIK value is pretty reasonable.
Also, 100% of the lease costs can be offset against company profits (again, due to the low co2 emissions) so that will give me a reduction in my corporation tax bill.
I get to sell my personally owned Scirocco and keep the cash and at the end of the 3 year lease I can either buy it from the VWFS using personal cash, or order another new car.
Mine is costing £322 per month with my options of Performance Pack, Oryx White, Dynaudio, Parkassist.
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I think that its good to share information as you may discover aspects of financing that you hadn't considered.Equally, knowing what % apr people have achieved if not going down the vag route may be of benefit to some people.
You could also extend this to those who are interested to share the level of discount they have obtained as this may be of value during your purchasing negotiations.
Not everyone agrees with this strategy in order to protect brand values but its my hard earned cash and if people wish to pay full list price then it's their choice.
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Yep, it's good to share! I got somewhere around 5.5% discount, as well as luxury mats, servicing, and a tank of fuel thrown in.
In terms of financing the remainder, I'm currently setup on the solutions option, but I may end up changing that and just going with a lower interest bank-loan over an extra year to keep the monthly payment the same. This means I'd walk away with less cash in bank, but there would be no need to save up for the balloon payment, and I'd save a good couple of thousand in interest.
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If it helps someone get a good deal I don't mind sharing
My deal is:-
£27,700 discounted for the car I specced (7.2% discount)
Financed as follows:
£10.5k part exchange guaranteed (which i think is lousy but gives me some comfort)
£12,500 loan over 4 years sorted via VW dealership (payments of £296 per month)
The rest in cash
I usually keep my cars for 4 years so doesn't bother me paying over 4 years. I like to pay under £300 a month and i also like to own the car at the end of the agreement
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When I first got married many many years ago, I had finance on my TV, Washing machine, Carpets, Furniture, Gas fire and car I was happy and not a care in the world.
I always pay cash for my cars now. I am not so happy and have a lot more weight on my shoulders.
Perhaps there is a moral there?
(Retire into trench, tin hat on and wait for sarcasm)
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I have negotiated a 5dr gti with performance pack £ 27,480
Options ACC.................................................... 800
Dynaudio............................................. 525
Keyless............................................... 355
Special Solid Paint................................. 250
Total................................................. £ 29,409
The cost to me is £ 26,380 a saving of £ 3,029.
I am very surprised that I have managed to negotiate such a discount especially bearing in mind this is newly launched vehicle receiving rave reviews but set the dealer a target and see what they can do.
I did canvass a few dealers and was turned down point blank but you have to be patient and ignore the dealers hard up stories of selling a car at a loss and negotiate politely.
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When I first got married many many years ago, I had finance on my TV, Washing machine, Carpets, Furniture, Gas fire and car I was happy and not a care in the world.
I always pay cash for my cars now. I am not so happy and have a lot more weight on my shoulders.
Perhaps there is a moral there?
(Retire into trench, tin hat on and wait for sarcasm)
Don't let your wife see this post :grin:
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For the context of deals you obviously need to look at the price to change. A deal for £3029 discount is great if there is no P/X involved, but if you're getting shafted on the P/X value to the tune of £2k-3k, then the value of that discount is soon eroded. There are plenty of dealerships near me that seem to be offring poor p/x value as the norm and being quite tight with discounts/freebies too. They don't get my business.
Casablanca3: Did you have a P/X and if so, did you get Parkers/Glass' value for it? Or did you use a Jedi mind trick to get that deal?
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There was a potential part exchange deal but the dealer was honest and said I don't really want your car so the deal I negotiated stands alone.
This does generate the problem of having to sell my part ex privately and the timing of this to coincide with delivery of the new car but obviously this is not a price factor when i obtained my discount.
Unless you work for vag or are a shareholder I assume everyone is happy with a discount aside from the argument that this dilutes values and why you pay list price for a Porsche to protect the residual market.
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My part-ex was not far off the mark, and was agreed well before I haggled for discount off the car. No haggle, no discount, so I'm happy with my 5.5% plus extras.
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Unless you work for vag or are a shareholder I assume everyone is happy with a discount aside from the argument that this dilutes values and why you pay list price for a Porsche to protect the residual market.
My brother has had loads of Porsches, and never paid list price regardless of the total BS they have given him about 'no discounts' and 'protecting the brand' etc etc. You just have to negotiate harder and play one dealer off against the other and you'll always get a discount! :laugh:
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I've not even thought about financing the thing yet. There are a number of options open to me and I think the thing will be so long coming I won't have to worry about it for quite a while yet!! :whistle:
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I suppose Porsche like to perpetuate the myth that it's list price or nothing but that's just business sense although I'm sure discounts are obtainable.
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If the dealer has the ability to sell more than he actually sells (whether it be Porsche, VW or whoever) there's always a deal to be done. Unfortunately in the North East, new car sales are healthy enough not to be getting much off a popular or limited allocation car. My supplying dealer sold 3 GTDs in as many days between me, mcmaddy and my dad. I've no idea what other GTI/GTD sales that might've happened in the 7 weeks since, but i'll be sure they're quite a way into their 2013 allocation.
Good score for Casablanca3, apart from the hassle of having to offload the would-be P?X privately. Depending on how old it is, what it is and what it's worth that might not be too hard. I have no chance of offloading my Roc privately for the P/X value I got. No-one wants to spend £15500 privately on a 2 year old Scirocco, I have seen a fair few people try and fail on the forums even though they are undercutting dealership used prices by £3k.
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I suppose Porsche like to perpetuate the myth that it's list price or nothing but that's just business sense although I'm sure discounts are obtainable.
Porsche dealers are complete c0cks who like to think that 'how dare you ask for a discount.' I think in the end he got 10k off - and made sure he told the other dealer that he'd lost a sale :grin:
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Welcome 'Casa'.... Sounds like you got a cracking deal there. I'm really surprised dealers are prepared to offer such big discounts when supply is limited. Did they give you any idea on lead time?
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I have negotiated a 5dr gti with performance pack £ 27,480
Options ACC.................................................... 800
Dynaudio............................................. 525
Keyless............................................... 355
Special Solid Paint................................. 250
Total................................................. £ 29,409
The cost to me is £ 26,380 a saving of £ 3,029.
Well done Cassablanca and thanks for being so open with showing your hand on pricing.
You managed a whopping 10.3% discount which is huge on a brand new GTI in high demand with rave reviews!
I got a 9.1% discount on my order and felt pretty good until reading yours.
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Only got a few % discount on new car but got a cracking trade in on my mk 6 GTI for Sept/Oct delivery.
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As we all know discount and trade in values can be interpenetrated in different ways. It's the cost to change that is the important figure.
As for the people that are taking finance or using Solutions, The invoice price is not that relevant. The important figures are what ultimately comes out of your wallet to enable you to drive the car over the term of the deal.