PCP/lease deals

[CraigW]

Is it not better just to keep the car you have until the end of your agreement rather than exchange for the exact same model. This would probably be the cheapest option at the end of the day.

[Millzy68]

My current Personal Lease on a GTD finishes in December so I've just signed up for a 3 door Pure White R on a 24 month deal, £1600 up front and £257 per month, limited to 5,000 miles per year but not massive penalties if I go over that amount.

Who with mate?

www.carleasing-online.co.uk I've been dealing with a guy called Chris Dunseath who has quoted me a delivery of the end of November.

[p3asa]

Yeah it can all be a bit head bending.   
How is your car currently financed?
I can't see how you will fail to pay at least £1k deposit if you are changing your car every 2 years!

It may well be beneficial for you if you work out the full cost of ownership over 2 years for each method as this will tell you exactly how dear / cheap the deals are. You might very well be paying a low deposit but higher monthlys or more over the term.

My last 2 PCP's gave me about £1k equity to put down for my next car.

One other thing about leasing which maybe someone that leases can clarify, I read if you aren't the registered keeper which I'm not sure you are on a lease then a lot of insurance companies won't insure you so possibly paying more that way.

[Cossieian]

Yeah it can all be a bit head bending.   
How is your car currently financed?
I can't see how you will fail to pay at least £1k deposit if you are changing your car every 2 years!

It may well be beneficial for you if you work out the full cost of ownership over 2 years for each method as this will tell you exactly how dear / cheap the deals are. You might very well be paying a low deposit but higher monthlys or more over the term.

My last 2 PCP's gave me about £1k equity to put down for my next car.

One other thing about leasing which maybe someone that leases can clarify, I read if you aren't the registered keeper which I'm not sure you are on a lease then a lot of insurance companies won't insure you so possibly paying more that way.

Hi mate, my current car is not financed I bought it outright, I'm just thinking my money would be better of in the bank than in a losing asset, never thought of it before until now really.

I don't mind paying £1k deposit, I just wasn't keen in pumping in £3k like the dealer suggested, he gave me a quick quote on £1k deposit for a standard manual 3 door GTD on 12k miles, it was £403 over 36 months

[Diehammer]

Yeah it can all be a bit head bending.   
How is your car currently financed?
I can't see how you will fail to pay at least £1k deposit if you are changing your car every 2 years!

It may well be beneficial for you if you work out the full cost of ownership over 2 years for each method as this will tell you exactly how dear / cheap the deals are. You might very well be paying a low deposit but higher monthlys or more over the term.

My last 2 PCP's gave me about £1k equity to put down for my next car.

One other thing about leasing which maybe someone that leases can clarify, I read if you aren't the registered keeper which I'm not sure you are on a lease then a lot of insurance companies won't insure you so possibly paying more that way.

Hi mate, my current car is not financed I bought it outright, I'm just thinking my money would be better of in the bank than in a losing asset, never thought of it before until now really.

I don't mind paying £1k deposit, I just wasn't keen in pumping in £3k like the dealer suggested, he gave me a quick quote on £1k deposit for a standard manual 3 door GTD on 12k miles, it was £403 over 36 months

Total payments of £15508 over 3 years. What was your GFV?

[matchboy]

Matchboy - well in principal yes I agree - selecting the lowest mileage on PCP will lower the monthlies - but to be fair it will have ramifications when trading in as your settlement figure will be higher due to the lower payments made (so less equity). Also if you are struggling for equity (small purchase discount and/or went mad with the options) you will not be able to hand the car back without penalty if you have gone over the mileage limit.

I've done various PCP's over the years, and I've always gone over my mileage, and I've never been penalised - ever.  Maybe I've just been lucky though 

[MAW73]

Matchboy - well in principal yes I agree - selecting the lowest mileage on PCP will lower the monthlies - but to be fair it will have ramifications when trading in as your settlement figure will be higher due to the lower payments made (so less equity). Also if you are struggling for equity (small purchase discount and/or went mad with the options) you will not be able to hand the car back without penalty if you have gone over the mileage limit.

I've done various PCP's over the years, and I've always gone over my mileage, and I've never been penalised - ever.  Maybe I've just been lucky though 

Yep especially true I would like to think if the dealer wants your business again on the next PCP 

[matchboy]

Matchboy - well in principal yes I agree - selecting the lowest mileage on PCP will lower the monthlies - but to be fair it will have ramifications when trading in as your settlement figure will be higher due to the lower payments made (so less equity). Also if you are struggling for equity (small purchase discount and/or went mad with the options) you will not be able to hand the car back without penalty if you have gone over the mileage limit.

I've done various PCP's over the years, and I've always gone over my mileage, and I've never been penalised - ever.  Maybe I've just been lucky though 

Yep especially true I would like to think if the dealer wants your business again on the next PCP 

This is possibly true, the ones I've done have been VW to VW - I've never mixed and matched, so maybe I may have incurred a charge if going from VW to say BMW?  I don't think so though - if they want the business then its best to swallow the fact that the car has higher mileage than expected if they want the sale - otherwise I'd walk away and go elsewhere!

[Cossieian]

Just recieved this quote from VW fleet department, both based on a standard 3 door GTD with 12k miles per annum and 3 years

Manual 3+35 (£980 deposit + monthly of £327)

DSG. 3+35 (£1080 deposit + monthly of £362)

Quite tempted by this as it sounds ok, getting a quote tomorrow for 2 years which I presume will cost more??

[Snooze]

Leashire was best for low deposit and low monthly payments for me. I did a 4yr deal, but can give the car back after half the term is up. Also u don't pay any interest as its all lumped on the balloon payment at the end should you choose to buy.

Who was yours with mate if you don't mind me asking?
There's just so many lease companies, none of them reply to my enquiries either, that's why I'd rather deal with VW to be honest

My lease is with Ridgeway VW.

Just wondered tho, what's wrong with your current Mk7 Gtd?