How much do you earn in comparison to funding the GTI.

[stealthwolf]

I had saved about £8-9k when I wanted to buy a GTI.

I applied for a graduate loan but I could only afford £15k (max.). No one told me I should have gone for a personal loan. In the end, I went for PCP because of lower monthly payments and at the time, wanted to use some of the cash I'd saved for other stuff.

In retrospect, I wouldn't have bothered with PCP.

Go get a personal loan to cover the full amount of the car. It'll be far cheaper than any PCP. Once I've sorted out a few things, I plan on seeing if I can get a loan to pay off the PCP in one go, so I can then start to mod the car.

[Hurdy]

too much, i have an addiction 

LOL

X2

[DanoGTI]

Interesting - I'm actually looking at the PCP in a different way. The payments are about 75% cheaper than a personal loan too  plus you're guaranteed a minimum p/ex price.
I also found out that the car is in essence YOURS, so you can mod all you like (according to Listers VW) - as long as at the end of the term, you return the car to the state it was in when you purchased it.

So, personally that'll be
1. New stereo all in
2. Little breathing mods (filter & exhaust)

All stuff that I can take to the next car, or sell

I can't actually see any disadvantages of PCP.

Dan

In the end, I went for PCP because of lower monthly payments and at the time, wanted to use some of the cash I'd saved for other stuff.
In retrospect, I wouldn't have bothered with PCP.

Go get a personal loan to cover the full amount of the car. It'll be far cheaper than any PCP. Once I've sorted out a few things, I plan on seeing if I can get a loan to pay off the PCP in one go, so I can then start to mod the car.

[tyrerc]

I pay 320 per month on a loan - 17k was used to finance car and rid negative equity
40 per month - road tax
200 - petrol
80 (soon to 160) - insurance

I manage it picking up around 1600 after tax per month and having a morgage - you just need to sort your spending out and you will be fine

[R32UK]

mines on a lease so £315 + vat per month

[TimW]

Cool, thanks. Think im waiting till after my holiday in June. Then i'll be hunting for one. 11k max. Might stretch for an ED30

[tyrerc]

Good luck mate.

My payments are on an R32 aswel forgot to mention - may make a slight diff

[dTEA]

GAP insurance is available separately anyway, so consider that when applying...you can get it for around £350...

Most people i know wouldn't touch a loan if more than £200 per month to pay back...plus factor in the fact that the total amount spent could be 1/3 if not careful with interest rates...nationwide are cheapest personal loans but only if a current/savings account is taken out with them already...

I've gotta say i'd rather still be driving a mk2 for fun, but running costs are more as more needs to be done each year to stay on top of em...Smith Knight Fay group offer 1yr VW approved warranty as standard on all their secondhand cars...and bargains can be picked up if you haggle hard...my CTR was only worth £4800 book price, i got em to up that to £5500, and get down their screen price by another £800 or so...plus 2 new tyres, and a cambelt change...getting that done on friday...

[Rollini]

i managed to pay for the car outright but recently worked out the following monthly breakdown for a typical year:

petrol £130 (3 fill ups)
insurance £50 (paid annually)
tax £25 (£290 right?)
servicing £20 (although when i need to get the DSG serviced this will be higher)
tyres £20 (an average as obviosuly i change the fronts more frequently than the backs)

[Hurdy]

I don't really keep track on how much I spend on the car, but I recently worked out that I've spent around £13k on mods on top of the £25k for the car.

Insurance is being renewed soon with Chris Knott at £540, no claims protected, with £250 excess, £60 excess on windscreen, Legal cover, Mods replaced like for like (all mods declared), £750 lock replacement cover, 90 day Europe cover and free courtesy car in any circumstance of an accident when you need one.

Petrol works out at (very approx) £150 a month
Servicing is covered for 3 yrs at £20 a month (was £27, but removed the tyre cover)