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Model specific boards => Golf mk7 => Topic started by: Mark V GTD on 16 February 2016, 18:03
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Due to a upcoming change in personal circumstances its time to part with the GTD after 23 months blissful ownership.... I really say this with a heavy heart too. Its the best car I have ever had and I still think it just does most everything you want it to do so well its hard to think of a replacement. But for the time being my replacement will be my little Citroen C1 lease car that I have on the mad 4.99 a month deal until December....
I promise to hang around here as i will miss this place too...
By the way, I am hawking her around the dealers now but if anyone is interested in a March 2014 3-door GTD in Carbon Grey (DSG) with multiple options let me know by PM (18,400 miles so far).
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Hi Mark, I saw the ad for that lease deal but can't remember the company now, who is it please?
Cheers!
PS - sorry you have to lose your GTD.
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Due to a upcoming change in personal circumstances its time to part with the GTD after 23 months blissful ownership.... I really say this with a heavy heart too. Its the best car I have ever had and I still think it just does most everything you want it to do so well its hard to think of a replacement. But for the time being my replacement will be my little Citroen C1 lease car that I have on the mad 4.99 a month deal until December....
I promise to hang around here as i will miss this place too...
By the way, I am hawking her around the dealers now but if anyone is interested in a March 2014 3-door GTD in Carbon Grey (DSG) with multiple options let me know by PM (18,400 miles so far).
Mark, sorry to hear the GTD has to go, but great that you've enjoyed the last 23 months in it. :smiley:
Any ideas what will replace it, after the temp C1?
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Hi Mark, I saw the ad for that lease deal but can't remember the company now, who is it please?
https://www.centralukvehicleleasing.co.uk/special_offers were doing it for £999 down and £4.99 a month but its well gone.
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Hi Mark, I saw the ad for that lease deal but can't remember the company now, who is it please?
https://www.centralukvehicleleasing.co.uk/special_offers were doing it for £999 down and £4.99 a month but its well gone.
Cheers :smiley:
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I don't think I would PCP again. After having experienced the lease on the C1 I would deff take out a lease on a VW or Audi in future. There are some cracking deals to be had at the moment and hopefully that will still be the case towards the end of the year when the C1 goes back. CVL have the GTD up at 257 a month inc VAT at the moment with no down payment - thats nearly 100 quid less than I'm paying at the moment and I m in negative equity - no comparison really...
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Well it looks like the best I can hope to achieve is 17,500. And that is over 2,000 in negative equity.
PCP - never again :-(
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Negative equity because you are terminating early, got too many miles on the clock or damage?
I'd assume its one or more of those because otherwise surely its a GFV...
My experience from friends though is that depending on who you do this kind of thing through they can get massively OTT with their "inspection" and the resulting deductions.
If its early termination then of course you are going to effectively pay a high proportion of the balance of the payments for the term in early settlement fees just the same as any other loan.
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Well it looks like the best I can hope to achieve is 17,500. And that is over 2,000 in negative equity.
PCP - never again :-(
What is your GFV on it (at 3 years I presume?) If it's in the region of £15k, i'd be tempted to keep the car to 36 months (if you can keep the payments going another year and then give it back) rather than be £2k in the hole (equivalent to £167 a month and no car to show for it).
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Fred - no the car is perfect and coming up to two years old on a 36 month deal. The neg equity is probably due to the options on the car. If I had taken it largely stock I guess I would be offered around 17k for it but would have 2k less to pay off so woudl not be much in it.
MH - GFV is 16,042 in 13 months time.
As I'm paying 350 a month thats another 4,550 to pay, plus some tires and servicing taking it over 5,000. There will also be a mileage penalty to pay too as on a 5,000 mile deal.
On balance I would rather shell out 2,500 and be rid :-(
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I know this is harsh but you can't have everything. Getting rid early is still effectively saving you money over the remaining 13 months so it's not that bad apart from having to find the money in one chunk. You've got offered the same ish figure I did at just over 24 months old with quite a few options. Pcp's are great but not if you terminate them early.
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I have always terminated early in the past - but this is the first time with negative equity. My Scirocco two years ago netted a 2k surplus after 15 months (that was because I got it at 11 months old for a fantastic price)! The Golf Match mk.6 before that was neutral and the dealer just paid the finance off for me.
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I have always terminated early in the past - but this is the first time with negative equity. My Scirocco two years ago netted a 2k surplus after 15 months (that was because I got it at 11 months old for a fantastic price)! The Golf Match mk.6 before that was neutral and the dealer just paid the finance off for me.
I'm not sure it is PCP per se as much as the ridiculous deals that manufaturers are throwing out on new models in an attempt to shift metal - 24% off a 3 series, not far off on an A6 etc etc. If new ones (and new car finance rates) are so attractive second hand ones have to be lower priced to compete... I sold a 16 month old GTi and had equity in Aug 2015 - but I bought a stock car for a very good price and residuals were a tad better then....
I'm also shifting an A6 with negative equity - but even my Mini is in the red and that never used to be the case with Minis. That one is in part because I went made with the options and we know thats like throwing money away....
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Diesel gate hasn't helped either, whether that's direct used market impact or the extra deals VW are doing in part to it.
Sorry to hear that Mark, hope you get a good price - will you try private sale too? Might give you the best price, and normally the buyer can pay the finance instead of you so it makes it easier to achieve.
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Yes I advertised yesterday and I have an offer from a private buyer - just need to seal the deal :-)
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Advertising at 17,995 I have had a few enquiries now, which has renewed my faith in Autotrader a bit. My buyer comes tomorrow to collect so fingers crossed it all goes to plan!
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Sold my base spec 2013 GTD with 23k for just over £16.6k. It took less than 4 hours to sell!
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Well - she went to her new owner today. Private buyer and sold at 17,750 - so I'm pretty happy with that, all things considered.... farewell GTD :-(
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:-(
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I have been driving a Peugeot 208 for the last week, it would be safe to say i can not wait for my Mk7 GTD!!
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I have been driving a Peugeot 208 for the last week, it would be safe to say i can not wait for my Mk7 GTD!!
Lucky you, I sold my BMW yesterday and am now driving a Toyota Yaris until my GTD arrives, the only bonus is I'm not paying for the privilege lol
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I had a 208 on rental for a month before the GTD - quite liked it actually.
Even my little C1 has a far better infotainment interface than the Golf - phone system that connects easily, downloads SMS and e-mail on the move etc.
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I was going to hire a Fiat 500 but decided on the 208 instead as I wanted a diesel. For a 1.6 75Bhp diesel engine its surprisingly fast, however the body roll is shocking!!
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Just worked out the purchase cost for this car over 23 months.
2k deposit plus 22 x GBP350.00 plus GBP1,500 to offset the neg equity... comes in a GBP11,200.
Thats 487.00 a month!!
Considering a GTD can now be leased for 257.00 per month inc VAT and with no initial payment its a sobering calculation...
PCP - never again :-(
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Just worked out the purchase cost for this car over 23 months.
2k deposit plus 22 x GBP350.00 plus GBP1,500 to offset the neg equity... comes in a GBP11,200.
Thats 487.00 a month!!
Considering a GTD can now be leased for 257.00 per month inc VAT and with no initial payment its a sobering calculation...
PCP - never again :-(
Slightly unfair comparison to include the impact of your negative equity. The timing of your early chop-in dictates negative equity. Leasing makes far less sense if you're big on your options as options cost you mare per month on a lease than PCP.
I daresay that for Sootchucker's wife's fully loaded GT, half the car's heavy depreciation will be in the options rather than the basic car and the sharper you chop in a PCP vs full term, the more likely you are to be in negative equity unless your deposit is huge.
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I don't think its unfair to include the negative equity. Its part of the facts of this. Never had negative equity before and I have had at least six PCP deals in a row over last decade. Its a sign of the times and the misfortunes of VW :-(
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I don't think its unfair to include the negative equity. Its part of the facts of this. Never had negative equity before and I have had at least six PCP deals in a row over last decade. Its a sign of the times and the misfortunes of VW :-(
Thats a loss on this car, shouldnt be considered as a "cost" of the next one. If your next one is a lease you'd still have to pay that £1500 equity, would you then add 1/24 of that £1500 to the monthly lease cost?
Unless they've got a huge deposit down, most PCPers wont be in positive equity unil 2/3 through a 3 year PCP or 3/4 through a 4 year term. Getting more than GFV at the end of a PCP in p/x towards the next one used to be a given, but it isn't now, there'll almost certainly be something in it, but not quite the 10% over GFV that we've previously been used to, thee hook now is the deposit contribution and loyalty discount.
If going forward this dieselgate issue doesn't blow over I won't be buying another VW and ending up with BMW residuals unless I can get BMW sized discounts.
Currently with the deposit contribution and loyalty discount, most of that poor p/x value is covered for anyone chopping in right now. When you give a car back early without another in the pipeline, you're far less likely to get a "generous" value, theres no hook to keep you as a customer. If you get a settlement figure for walking away from your agreement it'll almost certainly be a good £1500 less than the p/x value you'd be offered against a new one, and I think there is where the difference for you lies between this time and all the other times when you've got another VW.
When your 2 year p/x value is only a kick in the arse off the 3 year GFV, those thinking of changing will have to weigh up the extra discounts vs the crap p/x.
I personally think that VW overreacted in offering these bigger discounts and hammering their residuals. Their sales dropped 20% in the short term, they should have waited it out IMO - people still buy Toyotas after all those safety recalls. Most consumers care more about running costs than what comes out of the exhaust.
Expensive VWs are relatively cheap (monthlies relative to RRP) to own due to high residuals, without those residuals they are not good value for money. Damaging residuals with their big discounts will cause far more harm to their business model than freezing RRPs for a year. VWs car price inflation is crazy given the current economic climate.
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Sensible words MH. Obviously I am still hurting after shelling out 1500 for the benefit of having my car driven away...
I still can't get away from the notion that PCP will not work again for me. I agree its not ideal to halt them early - but even taken to term I'm not sure how much more than the 16k GFV I would get in a private sale in a years time.
Leasing, for me is the way to go now and I'm tempted by the GTD offer with CVL at 258.00 a month for two years (no deposit and including VAT).