VW Dealer PCP Finance - Pay off early but keep free service?
Discussion
Vocht said:
Have you looked at hire purchasing it and just getting as larger deposit as you can for your car?
My Mrs is looking at changing her Polo for a newer/facelift one so we went in this weekend to try and do a deal. We got the exact same speil from the dealer, trying hard to push a PCP deal on us and brushing past/sneaking in things like wheel and paint protection and gap insurance which added almost £1000 to the deal over the term etc.
He offered us £3,500 for her car (£4,150 offered at Webuyanycar) and a brand new polo over 4 years at £230pm. So £14540 over 48 months years for a standard polo!
Instead we're now looking at a 6 month old Polo with just under 2,000 miles for £9950 with £4150 down (if sold to WBAY) and £5800 borrowed over 48 months, comes in at 139.57 per month (9.4% APR) with no final payment and no mileage limitations.
Anyway, my point being that really shop around hard and look at all the options available from a bank loan, HP, leasing, PCP, bought outright etc etc as you might be surprised (as we were) at what the best option to suit your needs might be. And most importantly, don't listen to the salesman!
Took a brief look at a Skoda last weekend. I asked about leasing and the salesman was saying that it is far more risky than PCP. Apparently, leasing means that I am locked in for the duration of the deal and if anything happens, I'm screwed. PCP, however, is more flexible and I have more flexibility with payments if circumstances change.My Mrs is looking at changing her Polo for a newer/facelift one so we went in this weekend to try and do a deal. We got the exact same speil from the dealer, trying hard to push a PCP deal on us and brushing past/sneaking in things like wheel and paint protection and gap insurance which added almost £1000 to the deal over the term etc.
He offered us £3,500 for her car (£4,150 offered at Webuyanycar) and a brand new polo over 4 years at £230pm. So £14540 over 48 months years for a standard polo!
Instead we're now looking at a 6 month old Polo with just under 2,000 miles for £9950 with £4150 down (if sold to WBAY) and £5800 borrowed over 48 months, comes in at 139.57 per month (9.4% APR) with no final payment and no mileage limitations.
Anyway, my point being that really shop around hard and look at all the options available from a bank loan, HP, leasing, PCP, bought outright etc etc as you might be surprised (as we were) at what the best option to suit your needs might be. And most importantly, don't listen to the salesman!
He told me the story of someone leasing a car from them, and six months later he wanted to leave the country. But, he was stuck with the lease so couldn't leave.
Ultimately I am in the (fortunate) position to be able buy it outright without the PCP, but if I get the added 2 free services for the sake of "agreeing" to the pcp deal but then settling the minute I leave the showroom does this not make me better off providing I can keep the offer?
funkyrobot said:
If anyone tries to sell you paint protection, just ask them if that means the standard manufacturer paint isn't fit for purpose. Watch their face screw up and be prepared for stories about bird poo wrecking loads of paint.
They just tried calling me ... I will use that one when I call them back haha!tom6195 said:
Ultimately I am in the (fortunate) position to be able buy it outright without the PCP, but if I get the added 2 free services for the sake of "agreeing" to the pcp deal but then settling the minute I leave the showroom does this not make me better off providing I can keep the offer?
Why not try to get that as part of the deal?It's too easy for the salesman to tell you it's only on finance and be done with it. Haggle!
You could even try the walking method. Just say that you aren't happy with the deal and if there is nothing else they can do, you won't entertain it. Then walk out.
Actually, have you already paid a deposit?
t destroying cars makes me laugh.funkyrobot said:
Why not try to get that as part of the deal?
It's too easy for the salesman to tell you it's only on finance and be done with it. Haggle!
You could even try the walking method. Just say that you aren't happy with the deal and if there is nothing else they can do, you won't entertain it. Then walk out.
Actually, have you already paid a deposit?
Yes I have already paid a deposit, but even so I'm still of the belief if they want to sell me the car they should endeavor to keep me pleased - so if I tell them today that I'm not satisfied with the current deal and they should go away and come back with something better - I expect them to do so.It's too easy for the salesman to tell you it's only on finance and be done with it. Haggle!
You could even try the walking method. Just say that you aren't happy with the deal and if there is nothing else they can do, you won't entertain it. Then walk out.
Actually, have you already paid a deposit?
tom6195 said:
Yes I have already paid a deposit, but even so I'm still of the belief if they want to sell me the car they should endeavor to keep me pleased - so if I tell them today that I'm not satisfied with the current deal and they should go away and come back with something better - I expect them to do so.
I think that because you have paid a deposit, your are screwed.Sorry.
funkyrobot said:
I think that because you have paid a deposit, your are screwed.
Sorry.
Oh no don't say that! Sorry.
Yes I've paid a deposit because we definitely want the car however we haven't signed any terms yet so I'm confident I can try and change them in my favour before we collect on Friday.
Edited by tom6195 on Monday 8th February 12:26
Charlie Boy said:
I've had two deposits refunded by dealers without problems so I think you will find that your deposit is fully refundable!
That's somewhat reassuring Ok guys, I'm about to return their call. This is what I'm going to say:
"I've decided the current deal isn't good enough. Here's what I want you to do. Forget the extras, just take the value of those (£748) off the list price."
Anything else I should add/mention?
He has put in 6 months road tax, if you are paying for it get it at 12 months, pro rata its better priced.
Re paint protection, when I've part exed no dealer has ever asked if I have Paint protection on the swapper. Work out the value of paint protection.
I'd suggest the sales man is in for a good amount of commision on this deal, not saying thjat earning a commision is evil.
Re paint protection, when I've part exed no dealer has ever asked if I have Paint protection on the swapper. Work out the value of paint protection.
I'd suggest the sales man is in for a good amount of commision on this deal, not saying thjat earning a commision is evil.
If its of interest my wife has a Tiguan 4Motion 150 DSG on lease for £212pm so there are some good deals around if you prefer that route. Otherwise if you can stretch to new I would go through someone like DtD. Having said that when we were looking even the dealers were saying don't buy second hand as they were doing such good deals new and they had about 4 12month old cars on there forecourt so there was no incentive for them to steer us to new. In the end we went with the lease as that was even cheaper.
Edited by Charlie Boy on Monday 8th February 12:49
Charlie Boy said:
If its of interest my wife has a Tiguan 4Motion 150 DSG on lease for £212pm so there are some good deals around if you prefer that route. Otherwise if you can stretch to new I would go through someone like DtD. Having said that when we were looking even the dealers were saying don't buy second hand as they were doing such good deals new and they had about 4 12month old cars on there forecourt so there was no incentive for them to steer us to new. In the end we went with the lease as that was even cheaper.
Unfortunately I can't stretch to new at the moment, I'm also trying to finance a holiday for parents to go India in March as well as my starting a new job soon. £20k was the original budget but we have stretched to £21k for this.Edited by Charlie Boy on Monday 8th February 12:49
93DW said:
Actus Reus said:
As to these dealer products like diamond brite and alloy wheel insurance a Merc salesman recently made out that he was obliged by law (specifically the FSC) to tell me about these products and try and sell them to me. I didn't embarrass him by calling him on it at the time, but I was shocked at how people are treated like idiots by some salesmen.
I assume you mean the FCA? You wouldnt of embarassed him as it means he was doing the job properly. You would have also signed whats known as a "Demands & Needs" which says that the benefit and cost of the insurance products have been discussed with you. Although diamondbrite is not an FCA regulated product not offering it to a customer will usually be followed by a kicking from the boss.It is of course quite right that you get given one of those statements to sign when you discuss it further, but it was introduced into the conversation as though he was legally obliged to offer me paint protection cover when, in fact, he's presumably looking to increase his monthly bonus. Fair enough, he is a salesman afterall, but don't try and kid me that there exists a law regarding bird poo and new cars' paintwork.
UPDATE:
I ran the VIN against the VW checker and it turns out this model is affected by the emissions scandal.
S**t - what do I do now?
The dealer did not tell me this when I asked, he simply said if it is affected you will be contacted by VW directly who will arrange for you to get the fix at any dealership.
I ran the VIN against the VW checker and it turns out this model is affected by the emissions scandal.
S**t - what do I do now?
The dealer did not tell me this when I asked, he simply said if it is affected you will be contacted by VW directly who will arrange for you to get the fix at any dealership.
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