GolfGTIforum.co.uk
Model specific boards => Golf mk8 => Topic started by: Ej1749 on 21 April 2022, 12:54
-
I'm lost! How and why would someone pay that for a Golf R???
Anyone find any better deals? Or what are people paying for their GTI's?
I said to the salesman in utter shock, "how many of these have you sold since the release?". He said "We've sold quite a few" nervously... "Yeah! you've sold a few in the entire time it's been released". He saw the funny side, trying to be as salesy as he could he kept using his sales training etc, to make out it's only £1100 per month etc, but I just laughed and he hinted that they are hard to sell.
I imagine this car has had and will have more tire kickers than any other car ever produced!
-
How do you get to 1100?
48 months, no deposit and 30k miles a year only gets to 758 a month on the VW calculator.
10k miles and a 5k deposit and you drop to 517.
-
Credit history can affect the APR offered under car finance arrangements. @Elliott Smart; What was the APR on the £1,100 per month quote? - VW’s current APR for a PCP on the Golf is 5.6% representative.
-
Credit history can affect the APR offered under car finance arrangements. @Elliott Smart; What was the APR on the £1,100 per month quote? - VW’s current APR for a PCP on the Golf is 5.6% representative.
Credit rating is almost perfect at 950 - Borrowing amount is £75K on my credit file. I was purchasing personally, but my business was going to pay for it as an expense. (I know I can claim tax back if it's done through the business on business deals, but I want the car myself as I may move away from the business). I obviously didn't tell the guy that otherwise he would have bumped the APR up or tried to milk it.
Maybe I got a newbie who was calculating it incorrectly, but he went to his business manager for the figures... Strange! I'll have to try somewhere else. Unless they were doing figures for HP... but the piece of paper definitely said PCP as there was a balloon payment.
-
How do you get to 1100?
48 months, no deposit and 30k miles a year only gets to 758 a month on the VW calculator.
10k miles and a 5k deposit and you drop to 517.
The annoying thing is I do 30K miles a year and had that down in the quotes. Even £758 is still not justifiable to me for a 320bhp car. These are getting hella expensive. Yeah it was around 6% from memory.
I was in the process of purchasing an RS3 in 2016 0 deposit and £550 per month 30k miles per year - which I thought was great. I ended up with an S3 instead because there was a 6 month waiting list for the RS3.
I might look at a used mk7.5 instead, If its £758 as it is only 320bhp, Rather get a used C63 for that money... Lovely, but not worth the price in my opinion.
-
I'm lost! How and why would someone pay that for a Golf R???
Anyone find any better deals? Or what are people paying for their GTI's?
I said to the salesman in utter shock, "how many of these have you sold since the release?". He said "We've sold quite a few" nervously... "Yeah! you've sold a few in the entire time it's been released". He saw the funny side, trying to be as salesy as he could he kept using his sales training etc, to make out it's only £1100 per month etc, but I just laughed and he hinted that they are hard to sell.
I imagine this car has had and will have more tire kickers than any other car ever produced!
Stock car available in black with performance pack and rear view camera on personal or business lease :cool:
-
I can only assume this was a nearly new car for over list price at some stupid finance rate making it loads more than a new car :grin:
-
What was the price for the car?
How many months was it over?
-
How do you get to 1100?
48 months, no deposit and 30k miles a year only gets to 758 a month on the VW calculator.
10k miles and a 5k deposit and you drop to 517.
Easy- I just tried.
Use their finance calculator on an R (base R, no options, not that you can do options in their calculator)... put 30k mileage, put 24 months and a 500 quid deposit.
23 monthly payments of £1,117.93
You are paying £23439 of depreciation plus interest 5.6% APR.... there's no getting away from the depreciation... its only worth £18751 after that sort of battering.
BTW only put the mileage in if you intend to hand the car back.... handing the car back is a pretty dumb thing to do on PCP anyway - lease if you want to do that, its better and cheaper. If you don't intend to hand it back, but want to buy it (and then sell it yourself) put in 10k as the mileage.... it helps a bit - £925 a month, becuause the GFV is higher - 23k
The basic problem with a short term is that you are hit with the big part of the depreciation right up front. By having a longer term you spread the initial depreciation over a much longer period, meaning cheaper monthlies.
Lastly, thats not going to be just VW - any new 42k car you want to PCP for 2 years will be like this.
-
But why put 24 months when the question is about 48?
-
I'm lost! How and why would someone pay that for a Golf R???
Anyone find any better deals? Or what are people paying for their GTI's?
I said to the salesman in utter shock, "how many of these have you sold since the release?". He said "We've sold quite a few" nervously... "Yeah! you've sold a few in the entire time it's been released". He saw the funny side, trying to be as salesy as he could he kept using his sales training etc, to make out it's only £1100 per month etc, but I just laughed and he hinted that they are hard to sell.
I imagine this car has had and will have more tire kickers than any other car ever produced!
Stock car available in black with performance pack and rear view camera on personal or business lease :cool:
Oooh how much are the leases and does that come with DCC? I could never have a car without the DCC? I'll check out your site!
-
I can only assume this was a nearly new car for over list price at some stupid finance rate making it loads more than a new car :grin:
We built the car with the specs I wanted and it was nearing 60K I think. I expected it to be higher than £500ish of course, but not £1100 :undecided:
-
How do you get to 1100?
48 months, no deposit and 30k miles a year only gets to 758 a month on the VW calculator.
10k miles and a 5k deposit and you drop to 517.
Easy- I just tried.
Use their finance calculator on an R (base R, no options, not that you can do options in their calculator)... put 30k mileage, put 24 months and a 500 quid deposit.
23 monthly payments of £1,117.93
You are paying £23439 of depreciation plus interest 5.6% APR.... there's no getting away from the depreciation... its only worth £18751 after that sort of battering.
BTW only put the mileage in if you intend to hand the car back.... handing the car back is a pretty dumb thing to do on PCP anyway - lease if you want to do that, its better and cheaper. If you don't intend to hand it back, but want to buy it (and then sell it yourself) put in 10k as the mileage.... it helps a bit - £925 a month, becuause the GFV is higher - 23k
The basic problem with a short term is that you are hit with the big part of the depreciation right up front. By having a longer term you spread the initial depreciation over a much longer period, meaning cheaper monthlies.
Lastly, thats not going to be just VW - any new 42k car you want to PCP for 2 years will be like this.
In my last PCP I exercised my right to hand the car back half way through - didn't even get charged for the extra mileage :grin:
Thinking about it, I might just lease if I can get the right spec and price :smiley:
-
In my last PCP I exercised my right to hand the car back half way through - didn't even get charged for the extra mileage :grin:
Yeah if you use VT then in theory you aren't liable for the mileage - some companies might tell you otherwise though.
Remember though VT is when you've paid 50% of the value back (of the whole value of the loan including the final balloon payment), not when you've made 50% of the payments... which usually on a PCP means that you'd only be able to VT about 2 months from the end.
-
I can only assume this was a nearly new car for over list price at some stupid finance rate making it loads more than a new car :grin:
We built the car with the specs I wanted and it was nearing 60K I think. I expected it to be higher than £500ish of course, but not £1100 :undecided:
£60,000 Golf :grin:
Email me :wink:
Leeevans@selectcarleasing.co.uk
-
I added everything possible to an R... 57k.
Fifteen grand of options... That's over three hundred a month over 48 months just for that...
Honestly how did you think an almost sixty grand car would be any cheaper?
-
I added everything possible to an R... 57k.
Fifteen grand of options... That's over three hundred a month over 48 months just for that...
Honestly how did you think an almost sixty grand car would be any cheaper?
Purely because when I was looking at the RS3 back in 2016 it was exactly £550 per month with a zero or £550 deposit, I can't remember exactly. That was just over £50K. Obviously, the balloon was larger. Maybe because the residuals are better on the RS3 as they hold their value well.
£50K compared to £57-£59K is a big leap but - I swear that's about another £220 per month going off £25.00 for every £1000.
Maybe, I have just always had a distorted view when comparing it to the RS3 which I assume holds it's value more.
-
Yeah the balloon is basically the residual value.
Looking at the moment, there's not much in it between a Mk8 R and the RS3 sportback... 48 months, 30k miles.
32% residual on the RS3, 28% on the R....
No options on either for that calc.
The RS3 on 48 months, 5k down and 30k miles per year is just under 900 a month.
Base Golf R on the same terms is 640 a month.
Back in 2016 you could get a Mk7 R could be had for 300 a month! Things have moved on with car prices!
-
Yeah the balloon is basically the residual value.
Looking at the moment, there's not much in it between a Mk8 R and the RS3 sportback... 48 months, 30k miles.
32% residual on the RS3, 28% on the R....
No options on either for that calc.
The RS3 on 48 months, 5k down and 30k miles per year is just under 900 a month.
Base Golf R on the same terms is 640 a month.
Back in 2016 you could get a Mk7 R could be had for 300 a month! Things have moved on with car prices!
Those 2016 numbers are based on standard 10k miles PA. Those residuals are hugely skewed on the basis of having a 4 year old car with a whopping 120k miles on it.
Back in late 2014 before the crazy high GFV fuelling the cheap R leases was pulled, on your standard 3 year/10k miles pa, the GFV was around 60% of RRP. If you're putting 30k miles pa on a car you're leasing or PCPing, you'll be hammered. Add in the full cost of going heavy on options spread over your term, the result is going to be truly shocking.