MY 2012 - Am i getting a good deal?

[skyhigh123]

So here is my first post after reading and reading and reading some more on this forum, so far it's been a great help and I am sure it will help more in the future, so thanks everyone for that

So here is the situation, I currently own a 58 plate Golf Mk5 bluemotion, it has been valued by VW at trade in at £6500 not too bad considering i would probably only get around £8000 private sale. I am looking at changing to either a 1.4 tsi 160 scirocco or a 2.0 tsi gt scirocco with the options below:

1.4

Leather
Rear parking sensors
18" wheels
cruise control

2.0

cruise control
rear parking sensors
(leather as standard)
(18" inch wheels are standard)

On the 1.4 i have been quoted a PCP deal of £250 p/m with a balloon payment of £10085 after 36 months and on the 2.0 i have been quoted £330 p/m also with £10085 after 36 months, both at 7% APR. VW are throwing in £1000 when bought on finance so thats kind of good. How much can i expect the car to really be worth after 3 years? Around what they have quoted or what?

Now i was just wondering what other people are paying at what deals they are getting before i go ahead and sign on the dotted line. It's my first time buying a brand new car so its all a bit new to me!

Many thanks

J

[wigit]

the balloon is normally a walk away price so in reality the car should be worth a bit more, don't have the crystal ball out on fuel prices though

[StuSki74]

Hi

Having recently been through the same situation, I personally decide to purchase a used 170 GTT TDI. Only 9 month old mind with 3,800 miles on th clock. After initially wanting to purchase a new car, but another factor was the lead time quote as Oct 12 delivery on a viper green one.

Without know the purchase prices you've been quote on both models. My advice would be to compare them to the prices Orange wheels, Carfile and other brokers are offering. They do offer substantial discount over negotiating impersonal with dealers, unless you're very adept at negotiating. I found the £1,000 deposit contribution to be a bit of a red herring, nothing is free and calculated the final finance chages to be nearer £3,000 if you kept the car longer than 3yrs. Also I had a large deposit, with VW finance only allowing a max deposit of 30%, which increased the monthly payments above my budget.

Based on my own calculations, using a online broker to obtain the lowest purchase price then financing through a deal found online. For example M&S car purchase plan etc, with balloon payment. Not a GFV though worked out cheaper than using VW and desposit contribution. This obviously does depend on personal circumstances.

In summary as a rule thumb, first obtain the best straight cash purchase price. Than always look at totally finance charges or simply the total amount you pay to own the car outright.

I hope this helps you, I know it took me a while to weigh up the options to make my final choice.

StuSki

[Tallguy]

I don't think the standard VW PCP (APR 7.8%) is that good a deal. If your credit rating is good, you can borrow money at around 6% APR on other car purchase plans and personal loans. To be fair, VW sometimes have PCP deals (eg 0% APR on the Golf Cabriolet) when they want to shift stock that are good value.