Cash or VW Finance, What have You Poll?

[dubber36]

I guess I'm just excusing myself for contributing to a thread that I probably shouldn't do as I'm not buying a Mk7 like the rest of you just yet.

Granted we all know what the retail price of these cars are, but my old fashioned approach to financial matters are that they should be kept private. It seems that time may have changed tho'.

[Bill_the_Bear]

my old fashioned approach to financial matters are that they should be kept private. It seems that time may have changed tho'.

No I think you are right.  But in this specific case its obvious anyways as there isn't much variation in what anyone ordering a GTI/GTD will have to pay.

[matchboy]

Granted we all know what the retail price of these cars are, but my old fashioned approach to financial matters are that they should be kept private. It seems that time may have changed tho'.

No one is disclosing their income though, or how much money they have stashed away - its simply just commenting on how they will pay for their car.  If someone can pay cash for the whole lot then good luck to them!  They've either won it or earnt it! 

[Gryzor]

Well for me it's pretty simple - if you can afford to by a new Mk7 GTI in the first place, regardless of method, then you are in a reasonably good/stable financial position, no?  It's not like people are bragging about what they earn or how big their house is and how much/little of their mortgage they have left.

[p3asa]

I blame Gung-Ho  The thread was only how are you financing it, which is fair enough, then they come in with specific financial details and the rest follow suit 

Although its an interesting thread to see if you have a good deal or not in terms of the financing side.

[pauliem]

I'm leasing my through my company - 36 months with a 3 month payment upfront.

Because the emissions of the GTI are so low it actually makes it a very sensible company car as the BIK value is pretty reasonable.

Also, 100% of the lease costs can be offset against company profits (again, due to the low co2 emissions) so that will give me a reduction in my corporation tax bill.

I get to sell my personally owned Scirocco and keep the cash and at the end of the 3 year lease I can either buy it from the VWFS using personal cash, or order another new car.

Mine is costing £322 per month with my options of Performance Pack, Oryx White, Dynaudio, Parkassist.

[casablanca3]

I think that its good to share information as you may discover aspects of financing that you hadn't considered.Equally, knowing what % apr people have achieved if not going down the vag route may be of benefit to some people.
You could also extend this to those who are interested to share the level of discount they have obtained as this may be of value during your purchasing negotiations.

Not everyone agrees with this strategy in order to protect brand values but its my hard earned cash and if people wish to pay full list price then it's their choice.

[Gryzor]

Yep, it's good to share!  I got somewhere around 5.5% discount, as well as luxury mats, servicing, and a tank of fuel thrown in.

In terms of financing the remainder, I'm currently setup on the solutions option, but I may end up changing that and just going with a lower interest bank-loan over an extra year to keep the monthly payment the same.  This means I'd walk away with less cash in bank, but there would be no need to save up for the balloon payment, and I'd save a good couple of thousand in interest.

[CraigW]

If it helps someone get a good deal I don't mind sharing

My deal is:-

£27,700 discounted for the car I specced (7.2% discount)

Financed as follows:
£10.5k part exchange guaranteed (which i think is lousy but gives me some comfort)
£12,500 loan over 4 years sorted via VW dealership (payments of £296 per month)
The rest in cash

I usually keep my cars for 4 years so doesn't bother me paying over 4 years. I like to pay under £300 a month and i also like to own the car at the end of the agreement

[Whiteshirt]

When I first got married many many  years ago, I had finance on my TV, Washing machine, Carpets, Furniture, Gas fire and car   I was happy and not a care in the world.
I always pay cash for my cars now. I am not so happy and have a lot more weight on my shoulders.

Perhaps there is a moral there?

(Retire into trench, tin hat on and wait for sarcasm)