I'm thinking of going GTD to R - finances, PCPs and thoughts...

[monkeyhanger]

Not sure where those low GFVs are coming from, on VWs  own website a GFV for a 5 door manual R at 3 years old and 10k miles pa is coming in at £15289. With that in mind expect a 3 year px of £17-17.5k and a forecourt price of £21-22k if it doesn't have intergalactic mileage.

[johnboylds]

Hi guys, I was looking at 15,000 miles on a 3 year PCP - maybe it's the mileage that's making the GFVs so low.

My VW guy has got me to £445 a month, but to do that he's advised me to sell my car privately to pay off my finance. It's doable but it's a ball ache.

Audi are somewhere in the region of £385 for the S3, giving me roughly £2k to spend on toys to match the £445 of the golf.

I'm a bit miffed about the whole thing to be honest, With the benefit of hindsight perhaps a PCP isn't the best way to go on a car that has surprisingly plummeted in value. My previous two cars (both approved used VW) were financed by personal loan, and I changed both within a year of buying them without taking a hit on outstanding finance versus value.

John

P3asa: I assumed it was a 4 year figure - the S3 figure was correspondingly low also.

I presumed it was over 3 years as he specifically states 3 years although the figures are more akin to 4 years.
"The second issue is the GFV on the R. My GTD at list price of £25.5k had a GFV of £12.5k. I'm being offered an R at a list of roughly £31k with a GFV of £12.5k - is this a result of all the leases out there? Have VW completely lost confidence in the R holding value over the next 3 years?"

I would say that VW plan to knock these cars back out at 19-22k at 3 years old (as most people like a change at 3 years) and make even more money. Same as normal really but even bigger profit margins, if anyone who has one of these with a low GFV should buy the car at the end and try and sell privately.

[p3asa]

Hi guys, I was looking at 15,000 miles on a 3 year PCP - maybe it's the mileage that's making the GFVs so low.

My VW guy has got me to £445 a month, but to do that he's advised me to sell my car privately to pay off my finance. It's doable but it's a ball ache.

Need a bit more detail for accuracy. Manual/auto, how many doors and how much deposit?

I take it you never looked at the VW calculator as that tells you the lowest GFV on 15k on an R over 36months is £13.5k so I don't know where he is getting his figures.

Personally I'd tell them 10k miles as the mileage only comes into play if at the end of the term you are handing the keys over and walking away. Trading it in for another VW or any other marque makes no difference. In theory they might offer you slightly less as a trade in as it has higher miles but that should even up with the cheaper monthlies.

If they are unwilling to give you a deal on a trade-in I'd definitely go via a broker.

On a 5dr manual they are giving you a discount of £4032.
With a £500 deposit I make that £448 a month which is the same as your VW guy but it all depends on how much deposit he was asking you to put down to get that?

[monkeyhanger]

I'd definitely be getting a 10k miles pa PCP quote if they're wanting to knock the GFV down by £3k for having done an extra 15k miles in 3 years. Just pay the extra if it comes to it - it's 7.2p per mile, or £1080 at the end of the term - £2k saved. In reality you'll have a large chunk of your "equity" lost if/when you p/x against another VW rather than putting your hand in your pocket for that £1080.

£3k up on your GFV will save you about £73 a month You'll pay a bit more interest but £3k less capital.