Bye-bye GTi hello R

[Mr Savage]

Well it's got a few extras,  upgraded stereo, the better sat nav unit, 19s. I think there was about £2500 of extras in all and I got tge car 27950 but put my vxr vectra in as a deposit (4k) so only paying 23950. Added to that I'm getting 3 years free servicing,  tax until april, cheap gap to match ala or thereabouts and fuel I don't think it's too bad. I'm not really one for sitting there adding up all the figures, I'm getting virtually a brand new car for a good monthly price.  Like I say I don't expect to walk in on the end of the agreement and say I'm using this as a whole deposit,  I always expect to pay something towards a car. Once my loans are paid off I can overpay and chuck it in at 3 years if it comes to it but seeing as it's my first new car I'm not looking to change it for a good few years yet or at least see out the plan. I wish I was financially minded as I could sit there and calculate everything but I'm not that way inclined lol.
My mileage on the pcp is 10k,  I do nowhere near that. I guarantee my car will be under 40k miles in 4 years
Also if I was to buy the car wouldn't the lower gfv be in my favour as I could purchase it and sell it privately for much more.

As MH said you hardly get any money back at all for most extras. You're lucky to get even a quarter of the original cost back on them.

New cars depreciate quicker than a brick being thrown out a plane. You throw 20% out the window just by driving it off the forecourt and then it's a constant hidden drain on your wallet as the miles creep on.

Looking into it your'll be looking at getting £1500-2000 max over gfv when you trade in after 1,2 or even 3 years.

[monkeyhanger]

That figure includes your deposit and the final fee (GFV) to own it. There'll probably be about £5k interest in that £33k figure.

Seriously though, check your GFV, because the figure you quoted (£14576) is way too low for even 4 years, you could see it as a form of overpayment. The dealers usually check what you owe and add a grand, if you overpay by way of artificially creating a low GFV, be careful of that. I've had a dealer try that on before.

[monkeyhanger]

As MH said you hardly get any money back at all for most extras. You're lucky to get even a quarter of the original cost back on them.

New cars depreciate quicker than a brick being thrown out a plane. You throw 20% out the window just by driving it off the forecourt and then it's a constant hidden drain on your wallet as the miles creep on.

Looking into it your'll be looking at getting £1500-2000 max over gfv when you trade in after 1,2 or even 3 years.

On that R the brick is smaller than most, 60% retained value is exceptional, Porsche Cayman only holds 55%, BMW 235i is in the region of 47% (% of RRP at GFV). A vanilla R bought at best discount is going to lose £8.5k over 3 years, a fully loaded one with £4k options will lose £11500 or cost the typical solutions customer an extra £96 a month!!!

[class2ldn]

That figure includes your deposit and the final fee (GFV) to own it. There'll probably be about £5k interest in that £33k figure.

Seriously though, check your GFV, because the figure you quoted (£14576) is way too low for even 4 years.

So whats the pitfalls of a lower gfv then?
Obviously I'm guaranteed that price when I trade in.  Will a higher gfv lower my payments then?

[virginVWman]

Email from one of four potential garages...

Hi Fraser, Thanks for getting back to me. I've priced up the Golf R with just the white paint and at cost price +£1 which is the offer we're running on all new cars until the end of September (this also includes 3 years servicing for £199 with the PCP agreement which means there's one less thing to worry about and is spread across your monthly payments) and it works out as follows:- Price of the car - £28,065.25 (usually £30,349 including white paint and servicing at £199)Part exchange for January - £18,000Estimated settlement - £17,255.96Your £1000 deposit then means a full deposit of £1,744.0436 months15,000 miles Gives you- 35 monthly payments of £404.181 final payment of £16,396.20 I hope this helps with your enquiry.

Think I could do better

Come back to me and said 399 a month...hmmmmm. So pissed off with VW im speaking to Audi now re s3, service is far superior. Also rang Newcastle VW and emailoing a Helen who is quick to get back to me

[class2ldn]

Just been on a pcp calculator and if the gfv was 16500 id only be paying 279 a month, would it make much difference at the end though for example people have been saying most dealers will offer 1500 over the gfv usually, will it make a difference as to what you have left over then or is it just the payments overall would be less, ive worked out that il be paying 14,784 over the 4 years, if the car is 23950 and the gfv is 14748 doesnt that mean il have overpaid by 4kish or is that absorbed by the extra for the interest?
Im confused now lol
Also worked out that if the gfv was say 17k in 3 years id be paying 318 a month, can the dealers change this then?

[monkeyhanger]

That figure includes your deposit and the final fee (GFV) to own it. There'll probably be about £5k interest in that £33k figure.

Seriously though, check your GFV, because the figure you quoted (£14576) is way too low for even 4 years.

So whats the pitfalls of a lower gfv then?
Obviously I'm guaranteed that price when I trade in.  Will a higher gfv lower my payments then?

A higher GFV will lower your payments - less capital to pay off. If you will keep chopping in every 2/3/4 years, lower depreciation =lower capital to pay off to cover depreciation, but more interest to pay as the balance financed will always be more in any given month.

If you want to buy the car outright and keep it 10 years, the faster you pay it off the better, the GFV becomes irrelevant then as it will be worth a lot less after 10 years. High residuals keep VWs relatively cheap on a monthly basis under finance, and make VW a lot of money out of you in interest. I pity the sucker who buys a 2 year old one for 85% of RRP.

[virginVWman]

WHHHHHHHHHEEEEEEEEEEEYYYYYYYYYYYYYY finally!!!!

All the wait to hear back from VW Gorgie and they say I need to make an appointment! In tomorrow at 1pm.

Also no R for me to test drive anywhere! 

[monkeyhanger]

VirginVWMan: Carwow had a Newcastle Benfield offer of £1500 saving, so I wouldn't hold your breath for £3600 off and £18k for yours. If they only offer £1500 off, you'll need £20k px to even out. Keep at them, someone will bite.

S3, nearly went there, but a grand lower GFV vs R and you will need options (almost nothing is standard apart from all leather seats and non-adaptive Xenons. An S3 will be costing you more. Much easier to do a deal in person than over the phone. They can almost smell the money. Chances are the dealers holding off are waiting until the end of the month to see how it's panning out. Oct will be a quiet month for them.

[monkeyhanger]

^ sorted, perseverance pays off.