GolfGTIforum.co.uk
Model specific boards => Golf mk7 => Topic started by: Cossieian on 19 March 2015, 18:25
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just wondered how many of you guys actually own your new MK7?
With all the good lease deals around ATM I wonder if buying was the sensible choice or not.
Paid for my GTD in full with my own money, even when I was doing the deal the salesman couldn't really believe I didn't want finance :undecided:
Sometimes I feel like I should of leased it and stick money in the bank, anyone else in similar position
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I will be leasing when I get mine
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I own mine, but with the lease deals available, unless I was really ticking lots of option boxes, i'd rather lease than PCP. If you can buy outright it can beat the lease deals (more so with more options), as interest is what kills the PCPs - around a third of your monthly payments is going on interest.
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Own
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+1
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+2 or will when I get it.
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Took out finance for the cheap service deal and 750 contribution then cleared it a few days later. Exercising the right to terminate, no questions asked, costs £3.94 a day. 30 days to pay after the figure is agreed.
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Always buy outright, it's easier to sell when you get bored!!
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own
:smiley:
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Always buy outright, it's easier to sell when you get bored!!
Or keep it for as long as you like if you don't.
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Up until last year I found personal leases on VW Golfs were always hard to find and quite expensive.
But nowadays they seem to be such good deals around I have switched to leasing and will continue to do so unless they get expensive again :smiley:
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Always buy outright, it's easier to sell when you get bored!!
Yea pretty much the main reason I went the direction I did tbh, I could never own a daily driver for 2 years lol
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All mine.
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Took out finance for the cheap service deal and 750 contribution then cleared it a few days later. Exercising the right to terminate, no questions asked, costs £3.94 a day. 30 days to pay after the figure is agreed.
Going to do exactly the same this weekend
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Bought outright, but use the money I get from the company car allowance to put away for the next one
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Bought on vw finance to give me more options with the car later on. Buying worked out better than contract at the time, and glad I did as my mileage has doubled this year!
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Company lease scheme for me.
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Own outright.
Dealers like to sell finance due to the extra profits per vehicle and their monthly financial sales targets. My friend work for VW finance and he's always said to me to buy with cash if you can.Plus its nice not to have the monthly outgoing on your credit file when looking at mortgages etc....
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PCP for me :smiley:
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I also own my GTI PP. Paid cash in full plus trade in of previous car.
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My friend work for VW finance and he's always said to me to buy with cash if you can.Plus its nice not to have the monthly outgoing on your credit file when looking at mortgages etc....
Maybe so - but for most ordinary folk the idea of buying a 25k to 30k car outright with cash is little more than a dream... in fact even those with the cash to do it will often opt for finance route so as to preserve liquidity. At the end of the day the car is depreciating at pretty much the same rate as the finance is being paid so the car simply becomes a four wheeled piggy bank for your depreciating investment....
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Lease works for me as I cannot afford to buy out right, plus car allowance from work covers most of the monthly payment. Only painful bit is putting down a deposit which was £3k on my last 3 cars.
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Up until last year I found personal leases on VW Golfs were always hard to find and quite expensive.
But nowadays they seem to be such good deals around I have switched to leasing and will continue to do so unless they get expensive again :smiley:
Cheap as chips 3 year Business Lease.
Never sink one's money into a depreciating asset. Invest it wisely and you could earn over 8% interest!
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Up until last year I found personal leases on VW Golfs were always hard to find and quite expensive.
But nowadays they seem to be such good deals around I have switched to leasing and will continue to do so unless they get expensive again :smiley:
Cheap as chips 3 year Business Lease.
Never sink one's money into a depreciating asset. Invest it wisely and you could earn over 8% interest!
Depends how you look at it. When I finish paying the bank loan, I'll have an asset to use as my next trade in.
I had to buy as it's the only way I could pay zero vat on it (plus my 10% discount)
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Mine's bought, which is all well and good but it's been a hard slog over the years buying cars, trying to get them at the best price to minimise depreciation, trying to pick up any modifications at the right price and often second hand to keep it all (just about) affordable.
When you change your cars fairly frequently, which most of us forum users do owing to the temptation in front of us day after day, then you tend to end up with a newish car that would be really hard to sell privately despite being mint condition; therefore the easiest route tends to be to chop in at the best price you can against something with the best discount you can get and start the vicious old merry go round all over again...
I look back now and think maybe I should have kept my mk6 another six months to a year and waited until the R was released, sold the mk6 privately, as it would have been of an age where that was a more reasonable proposition, and banked the money (or paid it off the mortgage or something) then leased a cheap R for a couple of years (or a GTD more likely as you can get those on cheap leases now and again). Asker does have a very good point about investing in a depreciating asset but it's not an exact science and investing in anything has risks.
I don't really like the R as much as I should, it has more power than torque which is always a sign to me that the power is in the less useable engine ranges (even if it has a LOT of power) so therefore would need a remap to make it feel any better than any other Golf to drive on a day to day basis. And it just looks a bit dull, with a particularly poor colour choice range in my humble opinion. The standard seats look a bit "Meh" and I'm not paying VW's silly prices for half fake leather. Apologies to R fans.
So hindsight is a great thing, and as the MK7 GTI is head and shoulders better as standard than any Golf before it I'm in the unusual position for me of not knowing what to do next.
When I bought the car many were ordering it with the extended warranty (I wonder how many who bought that option have part ex'ed already?!!!) but I thought "I never keep a car more than a couple years so that's a waste of money for me straight away" yet now I'm wondering if actually I'll just end up keeping my GTI for the very long term and leasing a small cheap second car or getting something like a Mii on 0% so that my sons can use it once my battered old second car finally drops to bits.
Leasing can get you something you wouldn't normally be able to afford at a reasonable cost and I think will become increasingly popular with younger people who have grown up with the smart phone contract merry go round, so are used to throwing their money at the shiniest new gadget and moving on as soon as technology moves on, which as we all know is increasingly quickly.
For me the downsides of leasing are the lack of ability to modify (even though my mk7 has been kept standard aside from wheels) and that fact that if you've made a mistake or something you really *must* have in your life comes out you can't just sell up and get something else even shinier...