PCP deposit contributions

[Sharpe]

So I’d planned on ordering a T6 TSI July/August time but held off due to insecurity with my job. Have since been made redundant, but thinking of using some of my redundancy payment as a deposit.
I see that VWCV are currently offering £1500 deposit contribution, last quarter it was £500. Does anyone know if this £1500 is fully from VW finance in addition to whatever discount can be negotiated from the stealers? I’d previously been offered 11% plus the £500 from VW without any real negotiations, so if I can get the same plus £1500 then I think it would be worth pulling the trigger.

 

[chriscroft]

So I’d planned on ordering a T6 TSI July/August time but held off due to insecurity with my job. Have since been made redundant, but thinking of using some of my redundancy payment as a deposit.
I see that VWCV are currently offering £1500 deposit contribution, last quarter it was £500. Does anyone know if this £1500 is fully from VW finance in addition to whatever discount can be negotiated from the stealers? I’d previously been offered 11% plus the £500 from VW without any real negotiations, so if I can get the same plus £1500 then I think it would be worth pulling the trigger.

I guess the £1500 is tied into the finance, and the 11% is from the dealer. I think 12%+ should be possible from the dealer. Are you trading in? So yes both discounts should be available i.e. added together.

 

[Sharpe]

Trading a 2014 Audi S3, the dealership have an Audi dealership within their group so they can move it on. Might have to catch them before the end of December and see if they need to make their targets. Although the £1500 vs £500 pretty much just covers the November 3% price rise

 

[redvers]

The DC comes from the brand - it’s a nice way for them to play with the RRP without actually affecting the residuals, as it’s a special offer... as you say it offsets the recent price rise, and is probably done to allow for that. I’m sure targets were set at the old price, so this DC ensures dealers can’t complain that the price rise affected them reaching those targets...

 

[DaveyB]

Trading a 2014 Audi S3, the dealership have an Audi dealership within their group so they can move it on. Might have to catch them before the end of December and see if they need to make their targets. Although the £1500 vs £500 pretty much just covers the November 3% price rise

I traded a 2015 A6 Avant black edition 272 (12 months old) for my van, got a frickin p-take of a price for it. This was a Listers franchise, so they have plenty of Audi dealerships. You’d be in a far stronger position to negotiate a discount without a PX. What does a 2014 S3 go for?

 

[former member]

I traded a 2015 A6 Avant black edition 272 (12 months old) for my van, got a frickin p-take of a price for it. This was a Listers franchise, so they have plenty of Audi dealerships. You’d be in a far stronger position to negotiate a discount without a PX. What does a 2014 S3 go for?

Probably similar to our 2014 M135i; depressingly little.

 

[Loz]

I offerred a Touareg as px on our cali but the offer on the Treg was insulting, sold it privately for 3k more, if you have another vehicle you can use in the meantime, sell the Audi privately.
Yes as above, contribution is on top of the discount so don’t let the desker convince you they have included it.

 

[Sharpe]

Well I’m 3.5 years into a 4 year PCP on the S3, so worst case is to hand it back in June and start from zero. I’m sure I could get at least 1k more than the GFV by selling it privately, as it is very well specced. GRV is £15.8k ish, which to be fair is 50% retained value over 4 years so not bad at all. TT, A1 and S3 seem to be the strongest residuals

 

[DavRob]

I ordered my 67 plate from one of Listers VW brokers and got the £500 DC. I put £15k in for my deposit and bought the van on a lease purchase deal with the intention of having it fully paid for after 4 years. Amazing what you can negotiate and at the end of the day these vans hold there money alot better than most top mark cars

 

[DaveyB]

Well I’m 3.5 years into a 4 year PCP on the S3, so worst case is to hand it back in June and start from zero. I’m sure I could get at least 1k more than the GFV by selling it privately, as it is very well specced. GRV is £15.8k ish, which to be fair is 50% retained value over 4 years so not bad at all. TT, A1 and S3 seem to be the strongest residuals

Have just looked up a 2014 S3 on pistonheads, £21500. Put the same reg number into we buy any car, same mileage etc, valuation £15700.
My A6 was pcp, and we wanted out of pcp’s as we’d gone from one to another, never own the vehicle and end up tied into what feels like an unbreakable chain. Ended up taking a hit, ultimately it cost me grand to get out of it. I got £100 more through the px than we buy valued it at. So if dealer has offered you £15.8, it’s about on par with we buy.
Mrs DaveyB would love to get her butt back into an S3, she desperately misses her Y-reg 210 version....... Shame she’s not got £16k.

 

[Sharpe]

There is a nice 3 door manual with SS seats, B&O stereo etc here...

 

[superflyguy]

I ended up trading my 3 year old A6 Avant in at Listers for the van, not the best price but It just wouldn't sell privately. I think people would rather get a brand new vehicle on a PCP deal with a low deposit than borrow a large amount of cash for a second hand car nowadays.

 

[Petehelmet]

I ended up trading my 3 year old A6 Avant in at Listers for the van, not the best price but It just wouldn't sell privately. I think people would rather get a brand new vehicle on a PCP deal with a low deposit than borrow a large amount of cash for a second hand car nowadays.

Nail on the head.

 

[former member]

Nail on the head.

There is always the old school “save up for it” option.

 

[Sjacko20]

The finance system is a minefield and the APR for PCP deals is generally pretty high (don't be fooled by the term 'fixed interest rate', always ask for the APR). I was considering PCP for my golf but when I did the maths, I could borrow the money required from my bank to buy the car and due to the lower APR it was the same monthly payment as the PCP deal but at the end the car is mine without a balloon payment.
You can take the PCP to get the contribution then 'withdraw' from the PCP within 14 days and pay it off using a personal loan. We did with the van and got the discount plus 2 free sevices for the overall grand total of £6.09 interest.
Good luck

There is always the old school “save up for it” option.

I remember those days but seem to be long gone in current society,

 

[former member]

The finance system is a minefield and the APR for PCP deals is generally pretty high (don't be fooled by the term 'fixed interest rate', always ask for the APR). I was considering PCP for my golf but when I did the maths, I could borrow the money required from my bank to buy the car and due to the lower APR it was the same monthly payment as the PCP deal but at the end the car is mine without a balloon payment.
You can take the PCP to get the contribution then 'withdraw' from the PCP within 14 days and pay it off using a personal loan. We did with the van and got the discount plus 2 free sevices for the overall grand total of £6.09 interest.
Good luck


I remember those days but seem to be long gone in current society,

We’re hanging in there. House , van and cars all bought without loans/mortgage; makes me get like some ancient relic but it works for us.

 

[ahappychappie]

I ended up trading my 3 year old A6 Avant in at Listers for the van, not the best price but It just wouldn't sell privately. I think people would rather get a brand new vehicle on a PCP deal with a low deposit than borrow a large amount of cash for a second hand car nowadays.

This couldn't be more true. Why pay several thousand plus the risk of it going wrong a in the near future when for a very low deposit and payments equivalent to what you'd borrow for a used car you can have a brand new vehicle. I part-ex'd my car to buy by Transporter - it was less than two years old - I knew I'd get hammered on the price and I did. The showroom had no prices to buy outright it was all pay just x amount per month. If you buy your own you lose more in depreciation that you would leasing.

You just have to do it, cry a bit then move on!

 

[Petehelmet]

Buying a car without a loan is doable but House without a mortgage, nobody I know.

 

[former member]

Buying a car without a loan is doable but House without a mortgage, nobody I know.

Just save. For ages.

 

[WhiskyDisco]

The finance system is a minefield and the APR for PCP deals is generally pretty high (don't be fooled by the term 'fixed interest rate', always ask for the APR). I was considering PCP for my golf but when I did the maths, I could borrow the money required from my bank to buy the car and due to the lower APR it was the same monthly payment as the PCP deal but at the end the car is mine without a balloon payment.
You can take the PCP to get the contribution then 'withdraw' from the PCP within 14 days and pay it off using a personal loan. We did with the van and got the discount plus 2 free sevices for the overall grand total of £6.09 interest.
Good luck


I remember those days but seem to be long gone in current society,

We did the exact same thing when we bought our Caravelle. When negotiating I would ask the business manager for APR and interest amounts and his response was sure, but nobody buys cars like that - most people just look for the 'monthlies'. After taking out the PCP contract I settled a few weeks into it and saved £6k in interest. (£12,850 down, £350 p.m. over 48 months and a £24,000 lump sum at the end of the term). The settlement amount was £30,000. I figured that paying £30k now wasn't much different to paying £24k in 4 years time and saving £1.5k a year in interest definitely helps with the household finances.

Looking back at the paperwork I paid one repayment of £350 so I guess that was the 'dead-money' in the deal for me. If I had settled before that then I it would have been a better arrangement for me.