« previous next »
Pages: [1] 2 3 ... 5

Author Topic: Funding your GTI....  (Read 7992 times)

Offline ifti

  • I live here
  • *****
  • Posts: 1,117
Funding your GTI....
« on: 08 February 2009, 20:43 »
Just interested to know how many of you guys funded you GTI/MK5?

Did you purchase from new or used?
If new, did you pay 100% up front, or purchase on credit?
Logged

Offline AlanD

  • Serious forum addict
  • *
  • Posts: 9,946
  • MK5 2.0T 16v
Re: Funding your GTI....
« Reply #1 on: 08 February 2009, 22:08 »
I bought mine through VW Finance on a 3 year PCP. £0 deposit @ 11.5% AER. Monthly repayments are £322. After 3 years I ow VW £6500 which I either give in cash and keep the car or trade the car back.

I have however recently come into some money and since paid the car off so I am no longer on this deal (saved myself £2700 on interest), but you get what I was doing.
Logged

Offline Edition30

  • Here all the time
  • ****
  • Posts: 474
Re: Funding your GTI....
« Reply #2 on: 08 February 2009, 22:20 »
PCP for me aswel, £4k Deposit and £348 per month over 40 months. Not sure on the balloon payment at the end, planning on getting a loan to buy it out though and get rid of it, had nothing but bad luck since I got it :(

Spoke to someone from VW finance and they said I could sell it as I am now with it on PCP...I thought I could only sell it if I got a loan to pay it off...??  :undecided:
Logged
Quote from: Rob Toogood on 20 March 2009, 10:34
sorry but my vaux looks far better than the mk5 gti, thats why i bought it  :wink: faster too  :grin:  :tongue:


July/08 Pearl Black Golf GTI Edition 30

Offline neg

  • I live here
  • *****
  • Posts: 927
Re: Funding your GTI....
« Reply #3 on: 08 February 2009, 22:34 »
Always preferred personal loans if I needed some extra money for a car - that way at least you own it, especially if you do plan to alter it in anyway as this can effect the finance  (as some guy with a new Leon Cupra found out recently)
Logged

Offline ifti

  • I live here
  • *****
  • Posts: 1,117
Re: Funding your GTI....
« Reply #4 on: 08 February 2009, 22:53 »
Im guessing you cant buy a ED30 new any more, since the MK6 is out, and if I go to a dealer for a ED30 they'll charge me over the odds. Hence Im thinking of going private....
I have around £12k at the mo, and will be using whatever I make from my current car on insurance and some minor cosmetic mods - hopefully will have around £14k by the time Im really ready to buy in the next few months, so wont have to take out a loan thats too big.....Im guessing I could get a ED30 DSG with some options on top for around £16-17 - with 1 or 2 years of warranty left and low mileage....trouble is, Im looking for a silver, and I cant find many silver 5 door ED30's!! :(
Logged

Offline celica

  • GTI forum regular
  • ***
  • Posts: 213
Re: Funding your GTI....
« Reply #5 on: 08 February 2009, 22:58 »
Quote from: Edition30 on 08 February 2009, 22:20
PCP for me aswel, £4k Deposit and £348 per month over 40 months. Not sure on the balloon payment at the end, planning on getting a loan to buy it out though and get rid of it, had nothing but bad luck since I got it :(

Spoke to someone from VW finance and they said I could sell it as I am now with it on PCP...I thought I could only sell it if I got a loan to pay it off...??  :undecided:

what bad luck have you had?
Logged

Offline Hurdy

  • Serious forum addict
  • *
  • Posts: 8,466
Re: Funding your GTI....
« Reply #6 on: 08 February 2009, 23:37 »
Quote from: ifti on 08 February 2009, 22:53
Im guessing you cant buy a ED30 new any more, since the MK6 is out, and if I go to a dealer for a ED30 they'll charge me over the odds. Hence Im thinking of going private....
I have around £12k at the mo, and will be using whatever I make from my current car on insurance and some minor cosmetic mods - hopefully will have around £14k by the time Im really ready to buy in the next few months, so wont have to take out a loan thats too big.....Im guessing I could get a ED30 DSG with some options on top for around £16-17 - with 1 or 2 years of warranty left and low mileage....trouble is, Im looking for a silver, and I cant find many silver 5 door ED30's!! :(

Well you can't have mine :grin:
Logged
Seat Leon Cupra Black 290 DSG

Offline R32UK

  • Forum addict
  • *
  • Posts: 5,683
Re: Funding your GTI....
« Reply #7 on: 09 February 2009, 07:29 »
Quote from: Edition30 on 08 February 2009, 22:20
PCP for me aswel, £4k Deposit and £348 per month over 40 months. Not sure on the balloon payment at the end, planning on getting a loan to buy it out though and get rid of it, had nothing but bad luck since I got it :(

Spoke to someone from VW finance and they said I could sell it as I am now with it on PCP...I thought I could only sell it if I got a loan to pay it off...??  :undecided:

Thats quite an expensive PCP you do realise ED30! Nearly 18k before you even make the balloon payment :huh:
Logged

Offline vwtroy

  • GTI forum regular
  • ***
  • Posts: 131
Re: Funding your GTI....
« Reply #8 on: 09 February 2009, 07:46 »
For me it was Half up front the rest on finance :smiley:
Logged
                                                                   ED30 1619/Bluefin/Eibach Sportsline/Jetex Filter/Powerflex dogbone bush.

Offline Dogbucket

  • GTI forum regular
  • ***
  • Posts: 111
  • Golf R32 / TVR Chimaera 450
Re: Funding your GTI....
« Reply #9 on: 09 February 2009, 07:48 »
I have done PCP which is ok if you keep it for the whole term. I found early repayment was not so good as you have been paying back the interest first meaning in the first year the capital has not reduced much.

HP / personal loan much the same, personal loan preferable as not secured on the vehicle. Early repayment calculated more fairly I have found.

Just be aware that with no deposit it is likely the car will be worth less than the amount owing, with makes it difficult to then change. At the rate I am going in 10 years time I will have to borrow 20k to buy a £600 banger   :undecided:
Logged
Pages: [1] 2 3 ... 5
« previous next »