How does this deal sound?

Daz85UK · Post by **Daz85UK** » Tue Nov 15, 2011 2:32 pm

How does this deal sound to you guys?

Brand new factory ordered scirocco r dsg candy white , 18s, folding mirrors and reverse sensors incld gap insurance £466 p/m

Cheers
Daz

Hughesy88 · Post by **Hughesy88** » Tue Nov 15, 2011 2:42 pm

how many months would be important.... if its a month, very good value, if its 100 months...not so good value...

Daz85UK · Post by **Daz85UK** » Tue Nov 15, 2011 3:11 pm

It's a 3 year with balloon payment at the end but I won't be keeping it longer than 3 years

munchy106 · Post by **munchy106** » Tue Nov 15, 2011 7:27 pm

good choice,had mine since october and love it

newmans · Post by **newmans** » Tue Nov 15, 2011 7:29 pm

Daz85UK wrote:It's a 3 year with balloon payment at the end but I won't be keeping it longer than 3 years

If your not going to keep it why dont you look into leasing it. Will be much cheaper

jonallen628 · Post by **jonallen628** » Tue Nov 15, 2011 8:43 pm

Not enough info to judge.

- What's your deposit ?
- What type of deal Is it HP/LP/PCP ?
- What Apr % ?
- What's the balloon at the end?
- What's the mileage limit ?

Sub £500 p/m with a small deposit is good for an R over 3 years.

Cuprabob · Post by **Cuprabob** » Tue Nov 15, 2011 8:59 pm

As above, not enough info. You obviously think you got a good deal otherwise you wouldn't have posted it up :-)

Daz85UK · Post by **Daz85UK** » Wed Nov 16, 2011 7:49 am

deal is as follows:

Deposit = 4300 (2800 part ex for my car plus vw are given £1000 towards deposit and a £500 input from me)
PCP deal of 3 years and the monthly payment includes the 1st years tax. APR is 4.7% Mileage limit = 10000 per year.
3 years free servicing included

Cuprabob, I asked as I wasnt sure if I would be able to knock them down anymore so wanted some other peoples opinions as I honestly dont know what a good deal would be on an R.

I have looked into leasing but for an R its the same price with a £1500 deposit and I am still left with selling my current car. Thats the only thing putting me off leasing

b0rk · Post by **b0rk** » Wed Nov 16, 2011 11:44 pm

What's the balloon at the end of term? I'd guess the ballon is somewhere around 14k?
In three years time I assume you have plan find another £5k deposit.... As with PCP you'll never see the deposit again.

Daz85UK · Post by **Daz85UK** » Thu Nov 17, 2011 10:52 am

I think balloon payment is around £14k, I dont normally keep my cars longer than 3 years, and with the pcp deal I can hand the car back apparantly or use the car as a deposit on another VW.

Cuprabob · Post by **Cuprabob** » Thu Nov 17, 2011 4:56 pm

No problem mate, you just get a lot of people on various forums grandstanding, sorry if i mis trusted your intentions.

Only problem i see with the deal which has already been said that when you hand the car back after 3 years there is unlikely to be any equity so you will need to find the funds for the deposit on the next car. You can't use the car as a deposit if there is no equity.

Daz85UK · Post by **Daz85UK** » Thu Nov 17, 2011 8:38 pm

Thanks cuprabob that's something I will need to ask about, salesman seems to think that I could use it as a deposit but maybe he's just saying that to get the deal done.

If there's no equity where do I stand after the 3 years if I just want to hand the car back and walk away?

Cuprabob · Post by **Cuprabob** » Thu Nov 17, 2011 8:44 pm

You won't have any problem handing the car back after 3 years and walking away it's just my prediction will be the garage will say it's worth £14k. Of course you can always sell privately, pay off £14k and hopefully pocket some cash for the deposit on the next one.

Daz85UK · Post by **Daz85UK** » Thu Nov 17, 2011 9:04 pm

Thanks alot for your help, I'm going into the dealership on Saturday to get final figures so will bring all this up.

So just so I got it right in my head... No equity = can't use car as a deposit, but can hand back and walk away with no problems?

Thanks again

Cuprabob · Post by **Cuprabob** » Thu Nov 17, 2011 9:13 pm

Equity is the difference between what you owe on teh car vs what the car is worth. Positive equity means car is worth more that you owe and that value can be used as a deposit on the next car. e.g. If when you hand the car back they say it's worth £15k and you owe £14k then you have £1k you can use as a deposit on the next car.

Normally on a PCP deal the balloon payment is based around GFV hence why you can hand the car back and walk away. Just be aware of the T&Cs of the agreement regarding damage etc...

jonallen628 · Post by **jonallen628** » Thu Nov 17, 2011 10:44 pm

Saw the VW deal advertised today, £1000 contribution and 4.9% Apr is a good deal. I would still look to haggle on the list price but you won't beat that interest rate.

Daz85UK · Post by **Daz85UK** » Thu Nov 17, 2011 11:22 pm

Sorry if I'm being stupid but what is GFV?

Cuprabob · Post by **Cuprabob** » Fri Nov 18, 2011 8:31 am

GFV - guaranteed future value

chani1312 · Post by **chani1312** » Fri Nov 18, 2011 10:15 am

My scirocco r is very similar I traded in my diesel version for the r. Months same depost same over same amount of years too

Daz85UK · Post by **Daz85UK** » Fri Nov 18, 2011 3:18 pm

chani1312 wrote:My scirocco r is very similar I traded in my diesel version for the r. Months same depost same over same amount of years too

Are your monthly payments more or less than £466? Do you know wether or not you will have any equity at the end of the 3 years?

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