GolfGTIforum.co.uk
Model specific boards => Golf mk7 => Topic started by: ROO1 on 26 January 2014, 16:00
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Anyone got any examples for pcp deals
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They've got a finance calculator on their site if you configure a car.
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Saying that, it doesn't allow for any discount negotiated and it's a fixed APR rate.
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Best bet would be to join the R forum and see what other guys have got as far as deals are concerned.
See what Lee (evo1986) can do for you too, won't hurt to ask
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Saying that, it doesn't allow for any discount negotiated and it's a fixed APR rate.
Well yes - its the APR VWFS offer - but you can adjust it to refelct a discount simply by adjusting the deposit figure upwards until the amount to finance your car matches what you are actually paying.
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True enough. I did have a play, but i can't get it to reflect the dealers offers. I'm still shopping around and have been considering the R.
If it helps, the figures I got are for a 3 door Pure White car with keyless entry, winter pack, service plan and extended warranty, both are £4500 down.
GTi performance pack is £313pcm, R is £377. They're the first prices I've got from a VW dealer. I've got two brokers getting quotes for me aswell. I'm sure a second dealer would beat that price if I asked.
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Also, the dealer reckons that is 2.9% APR and includes the alloy wheel protection.
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Surely the dealer is only offering VW finance and thats around 6% APR on a Golf - is he manipulating the figures and talking 'flat rates'? I would be very suspicious!!
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I don't know how he has done it, but they are the figures I have been given by the dealer, They have definitely been manipulated to get the price to where it is, but the means of manipulation I have not gone into yet. That is waiting until the day I order, then I'll go through it with a fine tooth comb.
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It's probably got a massive balloon payment at the end to offset the lower monthly payments with lower annual mileage limit.
Definitely worth checking before signing on the dotted line.
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Surely the dealer is only offering VW finance and thats around 6% APR on a Golf - is he manipulating the figures and talking 'flat rates'? I would be very suspicious!!
I generally find that salespeople at dealerships rarely understand the ins and outs of finance. All they understand is the monthly figures, and not how they got there. They seem to drive the deal by how low they can get the monthly payment or how many more extras they can squeeze into your monthly budget without going over it. They ask you how much you can afford per month rather than brokering the deal with discounts on the car and then letting you know what the monthly cost is. They also like to mix up flat rate and APR a lot which can mislead the customer (although I do believe that some of them genuinely can’t tell the difference, so maybe misleading isn’t always their intent.
I have a good relationship with my salesman I’ve had for the last 2 cars. When I go in there he knows I only want to know 3 things – my part-ex price, the GFV and the cash cost of the car itself after negotiated discount. From that he knows that I’ll be able to tell him what that’ll equate to on a monthly basis within a couple of quid of what his computer will say if I go the finance route (which I didn’t this time). The GFV figure also gives an idea of what your part-ex value should be worth at 3 years old.
Look into what is going on in your financial quote – car, part-ex, extras which you may or may not have specified. Some add GAP/Autoglym etc to every quote as a matter of course and then leave them in unless you tell them otherwise.
I doubt very much you’re getting 2.9% APR – that even seems a little low as a flat rate misquoted as APR and the dealerships are obliged to go through VW finance as far as I’m aware. Perhaps they’ve “saved you” the equivalent of around half the interest in discount on the car (total interest on an R should be somewhere in the region of about £3600 on standard example terms).
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Some add GAP/Autoglym etc to every quote as a matter of course and then leave them in unless you tell them otherwise.
To me that's like miss selling PPI.
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Gti 3dr with metallic (Business user) £4200 inc vat, full maint, tyres etc inc RFL. My company pays a year inadvance then gives me £200pcm towards it and includes insurance.
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Balloon payment is £11,610 for the GTI and £13.800 for the R, although I would never pay that as I'd be swapping for a new car. Looking at 4 year old GTI's, if the market stays the same, there could be equity in the car at the end of the term.
If the market stays the same being the main term! :)
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Monkeyhanger, thanks for the advice, I'll be sure to check that when I order the car (if I go through the dealer).
You are right, dealers do fixate on what the monthly payments will be and put any car to that figure. Also, I always point out I don't want gap insurance or any of that jazz. I'm sure VW are sponsored by GardX...
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Monkeyhanger is spot on, that's very similar to the way I did it. However I got a quote from Drive The Deal and took it to my local dealer. I told them my absolute max monthly budget and said if they could meet it, they got the order. Flatly refused at first as i was asking to knock £80 per month from their 'list price' but after about 7-10 days of anxious waiting from me, they said they could get there.
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They've got a finance calculator on their site if you configure a car.
You can go straight to it here without configuring a car (it will be list price without options obviously but you can still adjust the depoit figure to get your agreed price - unless you have a ton of options and a small discount!):
https://www.volkswagen.co.uk/businessFinanceCalculator/generateDefaultCalculation?modelId=1262
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You can go straight to it here without configuring a car (it will be list price without options obviously but you can still adjust the depoit figure to get your agreed price - unless you have a ton of options and a small discount!):
https://www.volkswagen.co.uk/businessFinanceCalculator/generateDefaultCalculation?modelId=1262
And if you do add options, you will be looking at adding 20% of their RRP onto your GFV, as that’s the maximum they will hold. If you take 90%* of the total RRP (or whatever you would be paying for them after discount) of your options and divide by your term months (e.g. £3k options will enhance your GFV by £600 and will cost you £75 a month over and above the basic car on a 36 month term on solutions), that’ll be approximately how much you have upped your monthly payment by adding those options.
*90% = 80% lost, plus interest on the cost.
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I find this PCP calculator very useful..... I use almost daily as I'm always virtual car shopping! :grin:
http://www.pcpcal.co.uk/
I've spec'd an R up to £35k and assumed I would get a 10% discount making the price £31,500.
So based on the above discounted price with a GMFV of £14,000, 10,000 mile per annum, 48 month PCP, £5,500 customer deposit and an APR 6.1% the monthlies would work out to circa £355-00 month.
Tempting..... ( not that I've been looking or anything ) :whistle:
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Just got some figures for leasing. To be honest, it is working out cheaper to go the PCP route at this stage.
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Just got some figures for leasing. To be honest, it is working out cheaper to go the PCP route at this stage.
Jimmy
What have you been quoted for leasing? There are some very good deals about at the moment...
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The leasing figues I'm getting for the spec I want (Golf R, metallic paint, winter pack, keyless entry) are coming out at £330pcm on a 6+23 contract. That's the best I've got so far with Blue Chilli.
As far as PCP goes I've managed to get the above spec for £5000 and £293pcm, or £320pcm to include servicing (the servicing includes new tyres, brake pads and the such). That's a 36 month term with a £16,000 balloon payment.
I've heard a rumour that at least one person has got PCH on £230pcm on a 6+23,but I suspect that must be a business contract.
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Jesus, a £16,000 balloon payment? Christ almighty that's nearly a new focus ST!
Wow. Shocked!
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Are they plus vat?
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Think I'd rather just do HP. Must be around 500 per month over 36 months?
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If the £230 is true surely it's got to be plus vat and a standard 3 door...
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Think I'd rather just do HP. Must be around 500 per month over 36 months?
I agree however £500 a month is just out of some peoples reach, although I'm sure the best way!
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On a £5000 deposit the car I've spec'd up on HP is over £700pcm on 36 months. The was the best deal I could get on HP was £800. 36 payments of £500 are only £18,000.
The £16,000 seems high, but if you look at a 3 year old 6R with decent mileage, the cheapest you'll find one is £20,000, more likely between £22,000-£24,000.
The figures work for me. All the prices for me inc VAT.
And to be fair, £320pcm isn't bad considering I don't have to ever service the car, pay for tyres or any maintenance. The only thing I have to pay on top is petrol, insurance and tax for the 2nd and 3rd year.
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On a £5000 deposit the car I've spec'd up on HP is over £700pcm on 36 months. The was the best deal I could get on HP was £800. 36 payments of £500 are only £18,000.
The £16,000 seems high, but if you look at a 3 year old 6R with decent mileage, the cheapest you'll find one is £20,000, more likely between £22,000-£24,000.
The figures work for me. All the prices for me inc VAT.
And to be fair, £320pcm isn't bad considering I don't have to ever service the car, pay for tyres or any maintenance. The only thing I have to pay on top is petrol, insurance and tax for the 2nd and 3rd year.
The thing is - at the end of it you're relying on what VW will give you. So if the car sells for £20000, they probably going to give you £18,000 at best, which means £2,000 left.
£2000 and giving back the car, just seems, in my opinion, a lot of wasted money.
To each his own, but I'm obviously not as financially well of as R buyers!
Hope you enjoy the car though matey, the R looks awesome!
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You make a good point, there are absolutely no guarantees, but worst case scenario is I hand the keys back and walk away. Reality is that at about two years, as long as the car doesn't depreciate too badly, I'll advertise the car for sale with an aim to selling it before the three years are up. Then I'll use that money to pay the remainder and whatever is left I'll put down again.
That is in an ideal world, but in the next couple of years I'm looking at marriage and mortgage so want to get this before then! Haha.
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Haha! True! If I was in a position to comfortably buy one, I'd be all over it. I could afford it now, but couldn't justify the balloon payment or handing the keys back. :-(
Enjoy it though fella! Slightly jealous! ;)
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I think the way my life is going to go when it does come to it my next car will be a Passat. Wait, a Passat CC R-line will take a childs seat, right….
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Reality is that at about two years, as long as the car doesn't depreciate too badly, I'll advertise the car for sale with an aim to selling it before the three years are up. Then I'll use that money to pay the remainder and whatever is left I'll put down again.
That is in an ideal world, but in the next couple of years I'm looking at marriage and mortgage so want to get this before then! Haha.
You can't sell a car that isn't yours. Throughout the solutions term, the owner is VW UK. You'd have to buy it from them (balloon payment and all) to sell it. You will have some equity in that car for your next one (in what they'll offer you in part ex vs balloon payment) if you make all of those monthly payments.
I have never known a VW dealer to not offer you more than is needed to clear your balloon payment against your next one, to hook you in to buying another from them with your "equity" which is likely to be £2000 on a basic R with a £13k balloon payment if they advertise it for £19k on the used forecourt at 3 years old (depending on condition/mileage).
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You can't sell a car that isn't yours. Throughout the solutions term, the owner is VW UK. You'd have to buy it from them (balloon payment and all) to sell it. You will have some equity in that car for your next one (in what they'll offer you in part ex vs balloon payment) if you make all of those monthly payments.
Whilst technically true, the vast majority of people I know operate this way. They advertise the vehicle as normal, but inform the potential buyer that there is X amount of finance outstanding with VW Finance. Most of the time they're aware of this and how it works and if they wanted to go through with the purchase happy to speak to VW Finance directly and pay the first lump to them (depending on how much there is remaining on finance) and anything else up to the agreed sale price is paid to the seller. As long as VW get their money before you hand over the keys/documents, they don't care and will happily take money from a 3rd party's debit card/ bank account.
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You can't sell a car that isn't yours. Throughout the solutions term, the owner is VW UK. You'd have to buy it from them (balloon payment and all) to sell it. You will have some equity in that car for your next one (in what they'll offer you in part ex vs balloon payment) if you make all of those monthly payments.
Whilst technically true, the vast majority of people I know operate this way. They advertise the vehicle as normal, but inform the potential buyer that there is X amount of finance outstanding with VW Finance. Most of the time they're aware of this and how it works and if they wanted to go through with the purchase happy to speak to VW Finance directly and pay the first lump to them (depending on how much there is remaining on finance) and anything else up to the agreed sale price is paid to the seller. As long as VW get their money before you hand over the keys/documents, they don't care and will happily take money from a 3rd party's debit card/ bank account.
Yep, I have sold cars before the end of a PCP agreement.
The new owner clearing the finance with the company themselves at point of sale, or I have cleared it beforehand and shown/given the buyer proof. Having a PCP does not stop you selling a car on :)
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Yes me too - its quite normal so long as its disclosed to the seller and finance company fully paid by (the buyers) debit card before car handed over.
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I discussed this with when I was getting the details. As long as both parties are aware it is fine. At the end of the day the finance people are getting their money and the buyer is getting their car. It actually works out better for the seller as they're getting the full money for the car.
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I discussed this with when I was getting the details. As long as both parties are aware it is fine. At the end of the day the finance people are getting their money and the buyer is getting their car. It actually works out better for the seller as they're getting the full money for the car.
Just be careful, though, as far as your credit score is concerned especially if you are looking at getting a mortgage in the next couple of years or so. Many financial institutions will reduce your credit score for ending credit agreements early - even if you were not in arrears... This will likely not impact your ability to get credit to buy a car but banks and other mortgage providers are much more careful these days when it comes to home loans...
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I may look to change cars again soon.
I'm a bit torn between a new M135i and the Mk7 Golf R at the moment. Been offered the following on a lease deal on the R from G2L.
New Volkswagen Golf Hatchback 2.0 TSI R 3dr DSG
+ Metallic Paint
+ 19” Pretoria Alloy Wheels
+ Winter Pack
+ ACC Adaptive Chassis Control
+ Discover Navigation PRO
+ Keyless Entry
+ Advanced Telephone Connection
36 Month Contract
Initial Rental followed by 35 subsequent monthly payments
12,000 Miles per Annum
Non-Maintained Contract
£400.51 Including VAT – Personal Contract Hire
The cost of the above spec'd Golf R is £37,000. I won't be pushing the button until I have shot in the R though. I'd also like to get the monthlies closer to £350 ideally.
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+ Discover Navigation PRO
To me this is a very expensive option for limited value... Do you really want to spend £1700 on satnav when a top spec Tom Tom is more functional and costs less than £300?
+ Advanced Telephone Connection
Remember this deletes the MDI port (I am not aware that this has been rectified) so I wouldn't bother - I does improve the phone signal a bit but on balance I wouldn't have spec'd it
Delete those two and that should reduce your monthly payments a bit and get them closer to your target... :cool:
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I'd be interested in the ins and outs of that deal, it's seems an amazing price.
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Volkswagen have resolved the Adv Phone Kit and MDI issue, my BW46 car came with both Adv Phone Kit and MDI.
I also think they have changed the spec again with the Nav Pro coming with a USB port which is iPod compatible. :cool:
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+ Discover Navigation PRO
To me this is a very expensive option for limited value... Do you really want to spend £1700 on satnav when a top spec Tom Tom is more functional and costs less than £300?
+ Advanced Telephone Connection
Remember this deletes the MDI port (I am not aware that this has been rectified) so I wouldn't bother - I does improve the phone signal a bit but on balance I wouldn't have spec'd it
Delete those two and that should reduce your monthly payments a bit and get them closer to your target... :cool:
Losing those 2 will probably knock around £45 off your monthly figure assuming they retain 20% of their RRP.
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I thought Nav Pro already had a USB port which is situated in the compartment in front of the gearstick?
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The way I understand options on a lease is that you take what they cost and divide between rentals....could be wrong though
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For some options, but some add value to the car at trade-in so this is taken into consideration and you don't have to pay the full option price then.
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Makes sense....
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Interestingly I have been advised by a friend that works within R&D for a vehicle manufacturer, sat nav does nothing for residual as it is outdated so quickly. That was a big part in me not deciding to go for it. Look how far it has come in just 5 years.
I only have his word for that, but it is an interesting point.
I've put the forms in to start the order on my R!
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Interestingly I have been advised by a friend that works within R&D for a vehicle manufacturer, sat nav does nothing for residual as it is outdated so quickly. That was a big part in me not deciding to go for it. Look how far it has come in just 5 years.
I only have his word for that, but it is an interesting point.
I've put the forms in to start the order on my R!
What you gone for in the end mate? And who with?
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I've gone for PCP through AFS.
Having looked leases, I just don't think it is for me.
£5000 down and £290pcm for 5 door with metallic paint, keyless and winter pack. Then £30 PCM on top for maintenance. That covers all servicing, first MOT and includes tyres/brake pads.
I've been told April delivery, although haven't decided on the colour yet. The finance papers are getting sorted ATM, so the actual order will go in as soon as they go through.
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I've gone for PCP through AFS.
Having looked leases, I just don't think it is for me.
£5000 down and £290pcm for 5 door with metallic paint, keyless and winter pack. Then £30 PCM on top for maintenance. That covers all servicing, first MOT and includes tyres/brake pads.
I've been told April delivery, although haven't decided on the colour yet. The finance papers are getting sorted ATM, so the actual order will go in as soon as they go through.
Lease isn't for everyone it certainly takes some getting your head around! I'm sure you will enjoy....
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Got a quote on a 3dr R in Blue today. £500 deposit and £338 month over 48. Good deal?
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Sounds good, what is the full spec? Who is that with?
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Got a quote on a 3dr R in Blue today. £500 deposit and £338 month over 48. Good deal?
Including VAT?
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Yes normal pcp 4yr. Standard 3dr with metallic. Inchcape
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What is the annual mileage on that deal?
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Also, I assume that is £5000 deposit, not. £500?
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It must be a £5k deposit if we are talking a standard PCP. The VWFS calculator comes in at £347 a month on a standard R (no disount) over 48 months at £5000 down.
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Also, I assume that is £5000 deposit, not. £500?
£500
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I'd say that's an unbelievable deal! Must have a high GFV? I'm paying more than that on my specced up GTI even with a 12% discount!
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That is amazing. What dealer is that? What spec is the car?
If you don't mind me asking, what are the ins and outs of the deal? GFV, APR, so on and so forth
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That is amazing. What dealer is that? What spec is the car?
If you don't mind me asking, what are the ins and outs of the deal? GFV, APR, so on and so forth
I will post a pic of the quote in a bit
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http://www.sprintcontracts.co.uk/offerdetails.asp?id=1791
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R001 - thanks for doing that - it helps get a better understanding. So we are talking personal leasing here?
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R001 - thanks for doing that - it helps get a better understanding. So we are talking personal leasing here?
Looks that way according to the site link :smiley:
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Thats not R001's link - actually, just checked, on the previous page he says its a standard PCP from Inchcape. Thats what I just don't understand as a VW main dealer will be offering VW finance and a PCP on an R with a £500 deposit is a lot more than that - you need a £5k deposit to get it down that low!
Looking forward to seeing the figures.....
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These are the 2 deals that I have on the table from the same dealer...decision to be made in the morning. R for the wife to use or the GTD for me..
(http://i276.photobucket.com/albums/kk10/simonrrst/Mobile%20Uploads/20140131_201804_resized_1.jpg) (http://s276.photobucket.com/user/simonrrst/media/Mobile%20Uploads/20140131_201804_resized_1.jpg.html)
Both down to pure negotiation. Metallic paint included
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Hats off to you, that's pretty. Amazing. I imagine the difference is made up partly by the increased GFV, plus an amazing discount.
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Cracking Result R001!!
Looking at the figures on the GTD to see how this was done:
GTD 5-door manual (with met paint) = lists at £26,754 OTR
Less 12.9% discount - £23,304.00
Put those figures in to the VW finance calculator over 48 months (but selecting 5,000 only per year) and hey presto:
£500 deposit and £278.50 a month with a GFV of £14, 125!
So this achieved by a belter of a discount (almost unheard of on a non option car) and careful manipulation of the finance figures (long period and low annual mileage limit).
The figures are actually very simmilar to my own deal apart from I opted to spend 90% of my discount on options... hmm
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On the R - the discount is a bit less - 11.85% (still fantastic) but everything else is the same (OK 3-door keeps the list price as low it can be).
So, what are the factors that have produced such low figures for both cars:
Although these are top of the range the starting price is minimised in both cases by going for manual transmissions and refusing all options apart from metallic paint (plus 3-door R).
Then getting pretty much the best discount anyone can get
Finally electing for low mileage, long term on the (standard VW APR) PCP.....
Have fun choosing between these two and let us know which way you go!
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So R001 - what did you go for?
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Thinking it over this weekend
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Hi Roo....Which Inchape is it? I'm from Shrops too and looking for something similar on an R.