GolfGTIforum.co.uk
Model specific boards => Golf mk7 => Topic started by: mistac on 06 November 2019, 21:17
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Despite lurking about on the forums for many months, I have now signed up and this is my first post as I would like to gauge peoples thoughts!
My A3 is getting perilously close to the VT point and I am getting itchy feet. Have always wanted a GTI and have had a couple of test drives. Have gone from looking at a MK7 to an early MK7.5 and now considering nearly new or new! I am a salesman's nightmare as you can see! Ideally I want to change around March time as that is when I hit the VT point, so if considering new I need to make a decision pretty quickly and my local dealer indicated new MK7.5 orders were due to cease around end December. I have now settled on either a new GTI Performance 5dr DSG in tornado red (love red) or a 19 plate (with spec revisions) in red or blue and am happy with a completely standard spec one so really want the parker 18" alloys and 65% tints
Options are
a) New - Best I have seen is PCP price of £27418 through DTD - I have 3k deposit so have found a deal for £325 ish over 48 months based on finance of £24500 @4.9%
b) 19 plate - £24-25k so allowing for my 3k deposit, £280-290 ish over 48 months based on finance of £21-22k @7.4% (i think that is now the used PCP % but is it possible to get the 4.9% on an almost new car?)
c) Personal lease - attractive headline deals about but by the time I want one will there even be any lease deals about on a run out model and as I understand it with a lease deal I have to accept it in a matter of weeks rather than months?
Also has anyone heard if there are likely to be any last minute spec changes in the next few weeks if i order a new one?
Would appreciate views
cheers
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I think for an extra £30 or so per month i'd be going new over a 6 to 9 month old car.
On the older car, tyres will be needed sooner, mot due sooner and your warranty will end sooner. All these costs should be factored in.
With personal lease, how soon you have to take the car will depend on whether or not it is in stock. Both mine have been factory orders, first one took 3 months, the next one arrived in about 7 weeks and they held onto it for me for an extra 3 weeks.
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Just bear in mind though, that if you're unlikely to want to keep the car to or at the end of the term, the new car may take a bit longer to get to the VT point as you'll be borrowing more.
Add up the total cost of the deals for each, including interest.
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I bought mine last week on VW finance PCP. I’m not sure if it’s universal but the APR was 3.8% if that makes much difference. I was originally looking at Used ‘19 plate from May or June but decided to go new instead. The price difference wasn’t much for a brand new car and the £1500 contribution plus 2 years servicing for £199 made a massive difference for me.
If you’re sticking on standard spec, you’ll probably find a dealer will push an in stock model on you but the run out models have so much kit anyway. The Dealer I used didn’t think there would be any extras for the final final GTI’s, but he would say that wouldn’t he! :wink:
Good luck whatever you decide.
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Just go new, sounds like you can afford it so why not? Oh, and red is the perfect choice of colour :smiley:
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I bought mine last week on VW finance PCP. I’m not sure if it’s universal but the APR was 3.8% if that makes much difference. I was originally looking at Used ‘19 plate from May or June but decided to go new instead. The price difference wasn’t much for a brand new car and the £1500 contribution plus 2 years servicing for £199 made a massive difference for me.
If you’re sticking on standard spec, you’ll probably find a dealer will push an in stock model on you but the run out models have so much kit anyway. The Dealer I used didn’t think there would be any extras for the final final GTI’s, but he would say that wouldn’t he! :wink:
Good luck whatever you decide.
Thanks for your reply and the others so far. I think I can afford it but I’m not sure the wife does lol. I think the advertise PCP rate at the moment is 4.9, so you did well getting 3.8 But I guess I could ask? I am leaning towards new because the timing suits me better but as I’m a cheapskate I’m just trying to get the best deal I can get! What’s peoples thoughts on getting finance and paying it off immediately and getting a longer term bank loan with Possibly a slightly lower rate? I have seen some lines of thought it is the better way and even if you sell the car part way through the loan period the equity difference seems to be better?
Don’t get me wrong, I had numerous PCPs but it just sounds like you pay an arm and a leg for a few years and come out with nothing at the end
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Don’t go pcp route if you intend to hold onto the car some cheap personal loan rates out there if you have good credit history
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They are still advertising factory order GTI's on CarWow etc but I wonder for how much longer?
I'd be surprised if there aren't people who order but don't actually get one because Mk7.5 production has to end by the end of the year I'd have thought and lead times I'll bet are still ~4 months plus.
Leasing tends to be on stock items rather than factory orders, so that might be a good deal.
PCP might even make sense on a 7.5 too - I suspect that in 48 months the value of a Mk7.5 will be significantly less than the final payment anyway - the Mk8 will have pushed it right down and you might even be talking about a Mk8.5 by that time! So if you don't plan to keep it, maybe think about that.
Worst deal of the lot is to buy a nearly new Das Welt Auto and take VW PCP on it. That's never good value at all. Avoid is my suggestion.
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PCP might even make sense on a 7.5 too - I suspect that in 48 months the value of a Mk7.5 will be significantly less than the final payment anyway - the Mk8 will have pushed it right down and you might even be talking about a Mk8.5 by that time! So if you don't plan to keep it, maybe think about that.
Worst deal of the lot is to buy a nearly new Das Welt Auto and take VW PCP on it. That's never good value at all. Avoid is my suggestion.
What's your reasoning behind taking PCP on a new one but not on a used one? And why would the values of a car that is always pretty rock steady drop way beyond the current levels for a 4 year old one? Nice Mk6 GTI's are still holding up ok at 6-7 years old and you need around £14-15k to get a decent early Mk7.
Interested as I may in a position to buy my own next year so any guidance would be helpful.
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What's your reasoning behind taking PCP on a new one but not on a used one? And why would the values of a car that is always pretty rock steady drop way beyond the current levels for a 4 year old one? Nice Mk6 GTI's are still holding up ok at 6-7 years old and you need around £14-15k to get a decent early Mk7.
Ok, PCP on a used car attracts much higher interest rates than new plus you will have a period of ownership without the factory warranty. Additionally VWFS offer bigger deposit contributions on new.
With DTD offering a brand new car for around the same price as a Das Welt Auto 1 year old combined with those financials... its nuts to buy a nearly new one despite all logic suggesting you'll have less depreciation on a 1 year old car. The total cost of ownership over 3 years will be less on the new one and that's before you take into account that something outside of warranty could go wrong with the used - water pump (almost certainly), heater grid, turbo, dampers etc Any one of those things is a big ticket problem.
On the Mk7 vs the Mk8 - absolutely a Mk7 will instantly be less desirable than a Mk8 - absolutely, whatever people currently owning Mk7's on here will try to tell you. You only have to look at similar aged vehicles pre and post facelift to see that. Buying into a new Mk7 right now (last gasp end of life) will only be a good idea if you are leasing or PCP'ing - the future value risk is all on them and from what I've seen from current VW PCP quotes, the GFD on a Mk7.5 today is the same as it was a year ago.
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"Buying into a new Mk7 right now (last gasp end of life) will only be a good idea if you are leasing or PCP'ing"
…..or intending to keep the car a long time. As I typically do :)
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I bought mine last week on VW finance PCP. I’m not sure if it’s universal but the APR was 3.8% if that makes much difference. I was originally looking at Used ‘19 plate from May or June but decided to go new instead. The price difference wasn’t much for a brand new car and the £1500 contribution plus 2 years servicing for £199 made a massive difference for me.
If you’re sticking on standard spec, you’ll probably find a dealer will push an in stock model on you but the run out models have so much kit anyway. The Dealer I used didn’t think there would be any extras for the final final GTI’s, but he would say that wouldn’t he! :wink:
Good luck whatever you decide.
Do you mind telling me or pm me who the dealer was as I have more or less decided to go down the new route
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@Mistac - I dealt with Listers at Stratford upon Avon - they have about 6 dealerships around the Midlands. On their website, you can search for New & Used stock as well which is fairly unusual as most only list the used cars.
They don't have a Red GTI PP in stock but I'm sure that would change if the figures work. Good luck
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@Mistac - I dealt with Listers at Stratford upon Avon - they have about 6 dealerships around the Midlands. On their website, you can search for New & Used stock as well which is fairly unusual as most only list the used cars.
They don't have a Red GTI PP in stock but I'm sure that would change if the figures work. Good luck
Many thanks - whilst I don't expect you to tell me what you paid, did you get a decent carwow/drive the deal price as well as getting low rate % ? On initially looking, their headline prices seem to start from 36k upwards (includes fitted options)
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They listed the car on Autotrader with a decent discount which was the starting point for negotiations. So the list price on their website was £36k ie full price but the Autotrader price was £33400. This discount didn’t include the VW contribution either. I was looking to change in November but they made me a tempting offer to purchase at the end of October(for their monthly figures ) which all helped.
Sorry I can’t PM you as I’m new here but good luck
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https://www.arnoldclark.com/new-cars/volkswagen/golf/2-0-tsi-245-gti-performance-5dr-dsg/0/ref/blk_c2m6rvj5aikw4my0
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Does anyone know if keyless entry has now been removed? The sept price and spec guide listed it as standard but the oct & nov price and spec guides now says "-" (not available) against the spec listing or is it a misprint?
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100% keyless entry and start is still standard equipment on GTI PP
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The brochure still lists keyless entry as standard equipment for the GTi under 'comfort and convenience.'
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The brochure still lists keyless entry as standard equipment for the GTi under 'comfort and convenience.'
xThanks for that and you’re correct it is. However it has disappeared from the mass listing of the specs towards the end of the guide for some reason? Previously it was also listed in the mass listing details at the end
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Hoping to order a new one tomorrow! If I order now for a March delivery, presumably I don’t sign finance yet; but what happens if it changes from its current 4.9 between now and then. Am I protected if it goes up / can I amend if it goes down..?
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Good luck, yes if you go the finance route you sign the paperwork on the day you collect the car. As for interest rates, I don’t know but I think they’re unlikely to change in a significant way.
What spec are you going for?
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Good luck, yes if you go the finance route you sign the paperwork on the day you collect the car. As for interest rates, I don’t know but I think they’re unlikely to change in a significant way.
What spec are you going for?
GTi Performance 5dr DSG - still faffing about though but that's me all over!
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Good luck, yes if you go the finance route you sign the paperwork on the day you collect the car. As for interest rates, I don’t know but I think they’re unlikely to change in a significant way.
What spec are you going for?
GTi Performance 5dr DSG - still faffing about though but that's me all over!
Don’t leave it too much longer - it must be pretty close to the point where VW close the order books for the mk7.5.
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I was faced with the same dilemma a week or so ago.
New R or used R.
I went for the a 19 plate R, as I could pick it up within 2 days, instead of waiting 3 months, and I got an HP deal through my bank of only 5% APR.
The finance deal also played a big part. VW are offering great deals new, so depends if you can get a good finance deal for used.
With the added options on mine, I’ve probably only saved about £3000, compared to the deal offered through DTD, however factor the interest in, it’ll be quite a bit more than that over 4/5 years.
So it all depends on if you want to wait for new, or don’t mind 6 months old, and if you can match the APR offered at VW for new, which is 4.9%.
I decided I couldn’t wait. I picked my R up a few days ago, the last Golf I had was a VR6, so this one has blown me away :grin:
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Same boat!!
Was going to buy 6-18 months old, but for £5-7k more can get the exact car I want, brand new. VWFS will only allow a certain amount deposit, but they allow you to overpay straight away. Has anyone done this? They will allow me to put just under £8k down (plus £2k from them, making total deposit of just under £10k) but then I'd like to pay another £10k off straight away, to reduce both the monthy and the final payment.
Any experience would be appreciated. Thank you.
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They let you overpay? I would doubt it?
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Same boat!!
Was going to buy 6-18 months old, but for £5-7k more can get the exact car I want, brand new. VWFS will only allow a certain amount deposit, but they allow you to overpay straight away. Has anyone done this? They will allow me to put just under £8k down (plus £2k from them, making total deposit of just under £10k) but then I'd like to pay another £10k off straight away, to reduce both the monthy and the final payment.
Any experience would be appreciated. Thank you.
https://www.vwfinance.co.uk/en/privatecustomers/manage_agreement/partial_payments.html
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you can pay the whole thing off straight away apparently, many on here have done that.
Same boat!!
Was going to buy 6-18 months old, but for £5-7k more can get the exact car I want, brand new. VWFS will only allow a certain amount deposit, but they allow you to overpay straight away. Has anyone done this? They will allow me to put just under £8k down (plus £2k from them, making total deposit of just under £10k) but then I'd like to pay another £10k off straight away, to reduce both the monthy and the final payment.
Any experience would be appreciated. Thank you.
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you can pay the whole thing off straight away apparently, many on here have done that.
Thanks
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you can pay the whole thing off straight away apparently, many on here have done that.
Thanks
Speaking of which, I have stopped dithering and just verbally placed the order via DTD - best PCP price I could find and all being well it will be a late March delivery (my choice). I asked DTD about the option to pay VW finance off within 14 days and they said be careful and suggest you wait a couple of months after finance commences before paying off in case the deposit contribution is withdrawn. However, unless the T&C's say the deposit contribution is on condition of having the finance for any period or for at least 2 months, I think DTD are just saying that to make sure they (and dealer?) keep any commission involved? Does anyone have any experience of ordering through DTD and paying off PCP VW finance immediately/within 14 day right to withdraw period ? If so, did you lose any deposit contribution/deal sweeteners etc? I don't think you do but just want to confirm others experience.
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I think DTD are wrong. They just 'organise' the deal, the contract is between you and the Dealer, wherever in the UK they may be.
As always, check the Finance agreement carefully before you sign and unless it mentions paying back deposit contributions & sweeteners within a certain time, then you're fine.
You have the RIGHT (UK Consumer Law) to withdraw from a credit agreement within 14 days. Day 1 is the day after you sign the finance paperwork which should be the day you collect the car. Interest is charged on a DAILY basis, and once you withdraw you have 30 days to settle the balance with VW Financial Services. The balance is frozen from the date you withdraw. One snag is that once you withdraw, you can't go back to the credit arrangement so ensure you have the funds in full to settle it.
I've no idea if VWFS will still offer it, but I got 2 years servicing for £199 (1 minor and 1 major service) which I think is good value as I paid over £200 for a minor on my Mazda. If you're not offered that by the Dealer - its worth a mention.
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I think DTD are wrong. They just 'organise' the deal, the contract is between you and the Dealer, wherever in the UK they may be.
As always, check the Finance agreement carefully before you sign and unless it mentions paying back deposit contributions & sweeteners within a certain time, then you're fine.
You have the RIGHT (UK Consumer Law) to withdraw from a credit agreement within 14 days. Day 1 is the day after you sign the finance paperwork which should be the day you collect the car. Interest is charged on a DAILY basis, and once you withdraw you have 30 days to settle the balance with VW Financial Services. The balance is frozen from the date you withdraw. One snag is that once you withdraw, you can't go back to the credit arrangement so ensure you have the funds in full to settle it.
I've no idea if VWFS will still offer it, but I got 2 years servicing for £199 (1 minor and 1 major service) which I think is good value as I paid over £200 for a minor on my Mazda. If you're not offered that by the Dealer - its worth a mention.
Many thanks - Glad I seem to have understood it correctly. Currently they are still offering the £199 deal so I just need to decide whether to get it at the confirmed order point or gamble that it will still be available and at that price on collection or afterwards, as I believe you can purchase it ay any point prior to its first service.
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You have the RIGHT (UK Consumer Law) to withdraw from a credit agreement within 14 days. Day 1 is the day after you sign the finance paperwork which should be the day you collect the car. Interest is charged on a DAILY basis, and once you withdraw you have 30 days to settle the balance with VW Financial Services. The balance is frozen from the date you withdraw. One snag is that once you withdraw, you can't go back to the credit arrangement so ensure you have the funds in full to settle it.
Hi Andy, I think the actual point is not the customers option to withdraw from the credit agreement - thats very clear as you point out. Its the ability to withdraw and retain the discounts/benefits that were obtained as a condition of taking out the finance agreement. Perhaps, surprisingly, it does seem that VWFS do not have any issue with this (at least according to the numerous posts here over the years from people who have withdrawn within a few days and not been asked for the deposit contribution to be returned) - but I do think Drive the Deal were right to be cautious in their advice IMHO as if they said 'go ahead, its no problem' and VWFS decided they did want their deposit contribution returned the customer would likely look to them for rectification. I say this as although the terms may be absent from the actual VWFS agreement t's & c's it does say (on the Drive the Deal website) that the deposit contributions are subject to taking out the dealer finance.
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Outside of the first 14 days its "early settlement", which basically attracts 2 months interest.
2 months on 30k over 3 years is a fair amount if you don't have to pay it.
Most people gaming the deposit contribution end it in 14 days and I've never heard of the deposit contribution getting pulled back. I suspect thats down to who in VW UK actually pays the money for it.
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Would need to be in the terms of your contract that if you withdraw from the agreement you have to return the incentive/contribution. Is it?
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@JV - there's no wording to that effect in the contract I signed, but I made sure I checked...
@Mark GTD - absolutely understood. I suppose VWFS won't really care if 1 in 50 customers withdraw early and retain VW deposits/sweeteners, but if 49 out of 50 did it then it would be a different story. Its an exploit that is fully legal and the Dealers don't seem to care because its not their money and the contribution means they get a sale in a tough market where they wouldn't ordinarily.
As regards Drive the Deal, it looks like they're sitting on the fence a bit..? Take Finance and save about £2k but keep the agreement for 3 months so everyone gets their commission? Not sure to be honest
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Thanks for the replies below. It would be good to hear from anyone who has actually ordered through DTD in the last few months and paid off PCP VW finance immediately/within 14 day right to withdraw period? If so, did you lose any deposit contribution/deal sweeteners etc?
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Order placed - have my order number now - the long wait until Mar commences (my choice) - guess it will be one of the last batch to be made prior to build slots/production ceasing?
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@mistac - great news.