What Deals Are We Getting On MK6 GTI ?

[keelaw]

thanks R32UK, however sadly once i add the options i want, 5dr, and add VAT since I am a personal buyer, the quote i got from freedom contracts adds about 100 quid pm:

initial payment: 1,162
mth'ly rental: 387

2 yr deal


fair point that it is still cheaper.  lower deposit up front and cheaper monthly rental.  ok, the final payment if you wish to buy the car is not certain and there are penalties if the contract is cancelled early.

hmmm... certainly food for thought.

[carl1]

r32uk always seems to gets the best deal. i have to say i don't belive that price, fairplay if you have but it just don't add up to me. they are giving you the car

[keelaw]

another query re: leasing... i was told today by the dealer (so a slight pinch of salt here) that with a lease there is still a residual value figure.  if the car ends up at the end of the lease being worth less than the residual value, then you have to pay that difference at the end!  is this true?

apparantly this is how they get the mth'ly payments low, i.e. bigger residual value at the end in case they get their market value predications wrong.

e.g. if residual value at end of the lease is 13.5k and it turns out the car is only worth 12.5k at the end then the leasee has to pay £1k at the end of the contract...!!

[keelaw]

Had a good long chat with the dealer today going through the salesman, finance guy and sales manager. In the end could only get about 2.5% off list (will be entering into a pcp deal)

Back to deal drivers to see what they can really really offer.

[Rolfe]

r32uk always seems to gets the best deal. i have to say i don't belive that price, fairplay if you have but it just don't add up to me. they are giving you the car

I didn't really follow what r32uk is getting - the HP figures were difficult to compute.

r32uk, what discount are you actually getting?

(I'm just feeling smug here because I'm very pleased with what I got.  I know it's hard to compare because I get the scrappage money, but a £4,000 discount on list price including the scrappage has put a smile on my face.)

Rolfe.   

[matchboy]

another query re: leasing... i was told today by the dealer (so a slight pinch of salt here) that with a lease there is still a residual value figure.  if the car ends up at the end of the lease being worth less than the residual value, then you have to pay that difference at the end!  is this true?

apparantly this is how they get the mth'ly payments low, i.e. bigger residual value at the end in case they get their market value predications wrong.

e.g. if residual value at end of the lease is 13.5k and it turns out the car is only worth 12.5k at the end then the leasee has to pay £1k at the end of the contract...!!

no, that's not the case, with these lease purchase schemes once you have paid over half the amount payable you can hand the car back without paying a penny.  if you kept the car to the end of the term and it was worth 12.5 from your example but you had 13.5 left on the finance agreement then you would hand the car back and not pay a penny.  i didn't know this until recently, its quite handy to know.  ok you will be left without any deposit on your next car but at least you won't get stung for a payment for a car you're not going to keep.

[ub7rm]

There are two very similar but different leasing options out there.

One is the PCP I'm sure we're all familiar with where you get to the end and hand it back or buy it of them at the agreed value.  Then you have something which looks much the same but is often called Low Payment scheme which follows the same formula; deposit, monthlys then a baloon payment at the end.  But with this LP scheme I don't think you have the same flexibility when you come to the baloon payment, this figure has to be met by you, either buy buying outright or its worth more as a trade in that the agreed value.  Either way you have to pay - there is no tossing the keys through the letter box option.

Thats my understanding anyway...

[R32UK]

Ok lets break it down. The deal I am getting is a lease deal (or contract hire as its known). Very similar to hiring a vehicle over a set period of time. In my case its 2yrs, 3yr deals seem to be the most common at the moment.

So my deal breaks down like this. Its 29 payments in total (6 + 23)

£1434 + vat - which is the deposit.

Followed by 23 monthly payments of £239 + vat.



So including the VAT the total cost of the car over 2 yrs is = £7970.65

Without the VAT which i get back = £6931


So all in all I am paying £288.79 pm (worked out over 24 months) for a brand new GTi, 5dr Manual. Now the car I believe lists at £23k.

There are no fees to pay at the end of the lease. Only cost would be excess milage if you go over 20k over the 2yrs. This would be changed at 0.06p per mile. So £60 for every 1000miles. Not bad I would say.

[Rolfe]

Oh, I see how that works now.  Indeed, it does sound like a very good deal.

Rolfe.

[carl1]

Ok lets break it down. The deal I am getting is a lease deal (or contract hire as its known). Very similar to hiring a vehicle over a set period of time. In my case its 2yrs, 3yr deals seem to be the most common at the moment.

So my deal breaks down like this. Its 29 payments in total (6 + 23)

£1434 + vat - which is the deposit.

Followed by 23 monthly payments of £239 + vat.



So including the VAT the total cost of the car over 2 yrs is = £7970.65

Without the VAT which i get back = £6931


So all in all I am paying £288.79 pm (worked out over 24 months) for a brand new GTi, 5dr Manual. Now the car I believe lists at £23k.

There are no fees to pay at the end of the lease. Only cost would be excess milage if you go over 20k over the 2yrs. This would be changed at 0.06p per mile. So £60 for every 1000miles. Not bad I would say.

 is this including servicing and road tax or do you have to pay that yourself ?