PDA

View Full Version : anyone bought a mk7 using a pcp



steve67
31-08-2013, 06:38 PM
hello,
has anyone bought a mk7 with a pcp,
if so what kind of discounts are out there, my dealer is trying to get me to do one with only 5k miles per year to keep the monthly payment down, but i don't trust it.
quoting me ,my mk6 taken px. (which is on a pcp, i'm half way through it at 18 months)

i'm looking at a 1.6 se with park assist

cost of car, (matching dtd) =£18838
balance from px £1350

10k mile per year (which i do) £270 pm x 36 plus 1k cash/
5k miles per year £236 pm x 36 plus 1k cash/ or £267 no cash deposit

costing it out , if i was to do my current miles means i would have to find £900 if i was to hand the car back, which i'm told not many people do.

he say's its his beat deal but i feel the price hasn't changed , he's just juggled the figures around:confused:

i've see dtd prices and i'm awaiting a quote from them


any advice would be appreciated:biglaugh:

steve67
01-09-2013, 03:44 PM
Car Finance PCP Calculator (http://www.pcpcal.co.uk/)
just found this, so i can juggle the figures in my favor...

maisbitt
01-09-2013, 04:34 PM
If you understate your estimated miles over the PCP period to get your monthly payments down and hand the car back at the end of the term then you will definitely have to find some money for the excess mileage.

If however you trade in for another VW then you are almost guaranteed to get 5-10% more than the GFV, as the GFV is the worst case scenario figure for the car's worth for the correct mileage. So in reality of you get another VW, your p/x price at 10k miles per year will probably be more than your GFV based on 5k miles per year. Personally i'd rather be honest about it from the start and end up with a bit of equity on the car when I part-ex.

The difference between those 2 monthly figures with £1k down is £34 a month x 36 = £1224 more over the term doing 10k miles vs 5k miles. £900 excess mileage charge for saying you do 15k miles over 3 years and actually doing 30k miles. I revise my advice. Sign up for 5k miles pa and save the £34 a month and worst case have to stump up another £900, you'd still be £324 better off than paying up for 10k miles pa.

steve67
01-09-2013, 05:46 PM
The difference between those 2 monthly figures with £1k down is £34 a month x 36 = £1224 more over the term doing 10k miles vs 5k miles. £900 excess mileage charge for saying you do 15k miles over 3 years and actually doing 30k miles. I revise my advice. Sign up for 5k miles pa and save the £34 a month and worst case have to stump up another £900, you'd still be £324 better off than paying up for 10k miles pa.


thanks for that. these pcp's take a lot of getting used to

it's got me thinking...just need the dealer to loose the extra 1k deposit...

maisbitt
01-09-2013, 10:13 PM
thanks for that. these pcp's take a lot of getting used to

it's got me thinking...just need the dealer to loose the extra 1k deposit...

Losing that £1k deposit will cost you £1116: (£267 - £236) x 36, the £116 difference being interest incurred in borrowing an extra grand over 3 years.