Poll: How was your your new GTI/ GTD funded?

[C2K]

Paid with a cashback credit card to net almost £500 in cashback & paid off with cash when the bill came in

My dealership has a £2k limit on credit card purchases, so never an option for me.

Same for me, but 3k. Not picked mine up yet but will be cash if I cant wangle it on credit card.

I wanted to avoid all finance as new mortgage coming up.

[KyleB]

If I can recall correctly I put down £18,500 in cash and the balance was a £10,000 loan paid at just over £300 per month for three years. I just don't like the thought of a PCP where you never get to a point where you own the car unless you pay a huge amount at the end although I can see its aappeal

Surely a PCP is the same as what yove done? Just the other way around? You've paid your big lump and financed the rest. I've still got my big lump to pay. Difference being for me I have a GFV were I to trade it in?

[simonpolly]

What would other be?  stealing it

[CraigW]

If I can recall correctly I put down £18,500 in cash and the balance was a £10,000 loan paid at just over £300 per month for three years. I just don't like the thought of a PCP where you never get to a point where you own the car unless you pay a huge amount at the end although I can see its aappeal

Surely a PCP is the same as what yove done? Just the other way around? You've paid your big lump and financed the rest. I've still got my big lump to pay. Difference being for me I have a GFV were I to trade it in?

I just don't want the burden of having to pay a substantial lump sum at the end of the agreement and I was in a position to be able to put down a fair bit of cash at the outset so chose to go down that route. You could argue that if I had the lump sum just now then I could have went down the PCP route and paid the cash at the end of the deal but the cash ain't earning any great interest and I would rather just pay it now.

I understand that you can trade the car in at the end rather than pay the GFV but then you almost become trapped in a PCP merry go round. Plus if for some reason the value of the car is less than the GFV (not likely but you never know) then your not going to have any deposit to put down on the next car.

[KyleB]

If I can recall correctly I put down £18,500 in cash and the balance was a £10,000 loan paid at just over £300 per month for three years. I just don't like the thought of a PCP where you never get to a point where you own the car unless you pay a huge amount at the end although I can see its aappeal

Surely a PCP is the same as what yove done? Just the other way around? You've paid your big lump and financed the rest. I've still got my big lump to pay. Difference being for me I have a GFV were I to trade it in?

I just don't want the burden of having to pay a substantial lump sum at the end of the agreement and I was in a position to be able to put down a fair bit of cash at the outset so chose to go down that route. You could argue that if I had the lump sum just now then I could have went down the PCP route and paid the cash at the end of the deal but the cash ain't earning any great interest and I would rather just pay it now.

I understand that you can trade the car in at the end rather than pay the GFV but then you almost become trapped in a PCP merry go round. Plus if for some reason the value of the car is less than the GFV (not likely but you never know) then your not going to have any deposit to put down on the next car.

Fair enough mate, didn't want to come across as saying you should of gone PCP. I think whatever finance option people pick its down to them. I do think PCP is for someone who doesn't really want to keep a car, as I think its a lot easier to move on rather than buy out.

[CraigW]

No problem Kyle  . I tend to keep my cars for 3 to 4 years. I just prefer owning the car outright at the end and then being in a position to trade in or sell it privately with no strings attached

[monkeyhanger]

You're never going to have your GTI/GTD worth less than GFV unless something catastrophic happens financially with the car market or you've heavily abused/neglected it in the time you had it.

VW are still by far a private sales car company and don't dabble heavily with fleet sales, which helps residuals, unlike Vauxhall, Ford etc who see their cars dumped on the auction market wholesale when the fleets and rental companies have finished with them.

Even if you aren't financing through solutions, it is handy to know what the GFV is for the expected mileage, had you financed that way. It's a worst case scenario value for a car in good average condition, you can add a grand to your GFV on a GTD/GTD for real value at 3 years old/average mileage if it has been looked after, they like to make you think you have some equity in the car when you go back for your next car - it encourages brand loyalty and repeat business for another new car, rather than holding onto the one you've got.

[CraigW]

You're never going to have your GTI/GTD worth less than GFV unless something catastrophic happens financially with the car market or you've heavily abused/neglected it in the time you had it.

As I was always told nothing is certain in life apart from death and paying taxes. Cheery thought first thing on a Monday morning 

[dubber36]

VW are still by far a private sales car company and don't dabble heavily with fleet sales, which helps residuals, unlike Vauxhall, Ford etc who see their cars dumped on the auction market wholesale when the fleets and rental companies have finished with them.

Really? Where do you think they get their nearly new, Approved Used stock from? The actions are full of them. Granted, not many GTI/D etc, but 1000's of mainstream models.

My Passat TDI DSG Sport was over £10k cheaper than new price when it was just over a year old. Now there's depreciation for you.

[monkeyhanger]

Dubber: Passats are the most likely choice for a repmobile, certainly not a VW I would but new as it's depreciation is a lot worse than your average Golf. In either case, the VW action at the auctions for ex-fleet are small potatoes next to the swathes of Focuses, Mondeos, Astras and Insignias.

Most nearly new (very nearly new) VW stock comes from the demos that all dealerships are obliged to dabble heavily in.