GolfGTIforum.co.uk
General => New forum members => Topic started by: jammy_87 on 01 November 2017, 22:07
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Hi Guys,
My name is Kamran and I'm based in Sheffield near Meadowhall. I currently drive a 2004 Polo GT TDI which is an absolute great car. It has 154k miles but still goes well. 6 speed manual with cruise and heated seats is also a rare spec.
However, I'm currently looking at utilising the VW scrappage scheme and would like some advise. Although I like the diesels, VW have got what seems to be a good deal on the golf GTE which has £7.5k off. I'm looking into the GTE as it has some good reviews and the instant torque gives it decent performance too. Plus with it being hybrid I'll be able to drive to work on electric and plug it in at the charging point so get free top up and free parking.
I'm looking to get the car on a PCP deal but have not had much experience in this being strongly against getting a new car simply due to the depreciation of the VAT and interest elements. However the scrappage scheme gives me much more than my polo is worth and covers the interest and vat. Does anyone have any advise on this? It would be greatly appreciated.
The quote I've had so far puts my total amount payable at around £29k for a car with list price at £34.5k with options. Looking at monthly payments around £340.00 with a £12k balloon. Is this a good deal before I sign on the dotted line?
Many thanks for reading and look forward to any help.
Cheers
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Hi Kamran - I'm a couple of junctions up the M1 so pretty local!
Have you checked websites such as CarWow to make sure that you're getting the most competitive quote on the new car? Ultimately buying a new car never makes financial sense, but neither does going on holiday or any other luxury!
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Or consider leasing. The thing with PCPs is that you come out with hardly any equity at the end of the term, so you've as good as leased/rented it anyway. You need to do the sums and add up the total costs of ownership over the 3 years (not including fuel) so that you can make a fair comparison.
I don't think that I would want to 'own' an alternative to petrol or diesel until I was sure that it wouldn't be superceeded by the next wave of technology whilst I still had it, so if you are set on paying monthly installments, renting is the way to go to be safe.
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Just as an example although it is a 2 year deal: https://centralukvehicleleasing.co.uk/lease-volkswagen-golf-hatchback-1-4-tsi-gte-5dr-dsg_VWGO14GTE5HXTA~~6.htm/