Leasing - General Discussion
Discussion
mistermatty said:
So i recently requested a lease quote based on 6k miles per annum, BUT when i placed the actual order the order form has mileage increased to 8k for the same monthly cost.
Wondering if they can backtrack on this ?
Sounds like your funder may be hitachi as they only offer 8K as their minimum mileage, many brokers will advertise the 8k figures at 5k or 6K so they have exposure on the advertising portals, to be fair it means you've got extra mileage for no added cost.Wondering if they can backtrack on this ?
peebie said:
Sounds like your funder may be hitachi as they only offer 8K as their minimum mileage, many brokers will advertise the 8k figures at 5k or 6K so they have exposure on the advertising portals, to be fair it means you've got extra mileage for no added cost.
Santander sorting the finance.Anyone know what the penalty is to cancel a Volkswagen factory order before taking delivery?
Looking at leasing a Touareg well in advance of needing it due to the v long lead times however I’m mindful that a better deal may come along in the meantime.
Would be handy to know what the cancellation penalty is for cancelling during the build period.
Cheers
Looking at leasing a Touareg well in advance of needing it due to the v long lead times however I’m mindful that a better deal may come along in the meantime.
Would be handy to know what the cancellation penalty is for cancelling during the build period.
Cheers
essayer said:
nickfrog said:
Sensible - Was that with Free to Move / PSA ? I have one horror story with them here so perhaps they have improved or it was a one-off. The 3008 is going back in June so hopefully I'll have the same outcome as you.
Yep PSA. I guess it depends on the assessor. Fingers crossed they don’t make up any more charges later on!They complied with BVRLA guidelines but 2 wheels had small kerb rash which I felt were on the rim (therefore compliant) but they thought they were on the face. Problem is the design of the wheel doesn't show a clear limit between the two, if that makes sense.
A third wheel had face damage which I was happy to pay the £65 charge for.
But they obviously wanted £195 for 3 wheels.
I raised a complaint and said this would go to the ombudsman if rejected. They waived all charged, including the £65 I offered to pay.
They said that cars on a 18 months contract had a £250 waiver for damage, which really surprised me.
zj2016 said:
Anyone know what the penalty is to cancel a Volkswagen factory order before taking delivery?
Looking at leasing a Touareg well in advance of needing it due to the v long lead times however I’m mindful that a better deal may come along in the meantime.
Would be handy to know what the cancellation penalty is for cancelling during the build period.
Cheers
As always, the devil is in the detail, so check with your broker and the contract, but TYPICALLY; the contract starts from day of delivery of the car, and the 14 day cool-off period starts from then. You will lose any admin fee you paid the broker, however.Looking at leasing a Touareg well in advance of needing it due to the v long lead times however I’m mindful that a better deal may come along in the meantime.
Would be handy to know what the cancellation penalty is for cancelling during the build period.
Cheers
Please note, the broker may keep your admin fee, but they will likely lose the commission on the car they get from the lease company. Bear this in mind as they may be reluctant to cancel your order, even though you may be within your rights to do so.
Has anyone done a "Preferential early termination" with Audi finance or any other VAG lease? How does it work? Were the penalties much less than just paying to get out of a lease?
Can it be used if taking out VAG finance on a used motor or does it have to be new?
I'm looking to get out of a seldom used Q5 lease and into something with a PCP that's a little cheaper.
Thanks
Can it be used if taking out VAG finance on a used motor or does it have to be new?
I'm looking to get out of a seldom used Q5 lease and into something with a PCP that's a little cheaper.
Thanks
I just started the process to get out of Cupra Formentor.
As per other forum text:
"A Preferential Early Termination is generated with the intention of reducing the cost a customer would have to pay in order to early terminate their current agreement in times of exceptional circumstances.
In order for a Preferential Early Termination to be confirmed, there are two conditions which must be met –
Condition 1 –A customer terminating their current Contract Hire agreement is required to take out another VWFS agreement. This can be Contract Hire, Lease Purchase, Finance Lease, PCP or Hire Purchase (these are different finance products our dealership supplies and they can help you choose what’s right for you). The vehicle you choose must be within the VWFS Group for example VW, Audi, Skoda, SEAT.
Condition 2 – If you decide to go ahead with this, the dealership who provides you with your next vehicle will buy the current Contract Hire vehicle from VWFS, as we are the registered keepers. The figure agreed by the dealership to buy the vehicle from VWFS can impact the customers Preferential Early Termination shortfall. The shortfall is discussed with you by the dealership as failure to make payment for the shortfall will result in contact from our collections department. This may also affect your credit rating if the shortfall is not paid.
If both conditions are met and you are happy with the Preferential Early Termination figure, then we can continue with the process.
Purchase of the vehicle is at the dealerships discretion therefore if one dealer did not want to buy your current vehicle at this point in time, another might."
I engaged Skoda dealer and Audi dealer and they are supposed to contact VWFS to get the early termination quote. I'm looking into used cars, I don't want another brand new VAG product under any circumstances. Audi dealer told me, that they will buy out my car from finance company and I can take another contract. But according to them, I will lose whatever I paid to VWFS, without getting anything back. I paid big upfront and was hoping to get something back, due to high prices/values of used cars. Normaly, there's a shortfall and people have to pay it, so I thought, in current times, there might be some surplus and I can get something back. I'm going to contact VWFS to ask if I can get anything back if the value of the car is high. Waiting for the email, but who knows when they respond.
I can update you how it's going in couple of days.
As per other forum text:
"A Preferential Early Termination is generated with the intention of reducing the cost a customer would have to pay in order to early terminate their current agreement in times of exceptional circumstances.
In order for a Preferential Early Termination to be confirmed, there are two conditions which must be met –
Condition 1 –A customer terminating their current Contract Hire agreement is required to take out another VWFS agreement. This can be Contract Hire, Lease Purchase, Finance Lease, PCP or Hire Purchase (these are different finance products our dealership supplies and they can help you choose what’s right for you). The vehicle you choose must be within the VWFS Group for example VW, Audi, Skoda, SEAT.
Condition 2 – If you decide to go ahead with this, the dealership who provides you with your next vehicle will buy the current Contract Hire vehicle from VWFS, as we are the registered keepers. The figure agreed by the dealership to buy the vehicle from VWFS can impact the customers Preferential Early Termination shortfall. The shortfall is discussed with you by the dealership as failure to make payment for the shortfall will result in contact from our collections department. This may also affect your credit rating if the shortfall is not paid.
If both conditions are met and you are happy with the Preferential Early Termination figure, then we can continue with the process.
Purchase of the vehicle is at the dealerships discretion therefore if one dealer did not want to buy your current vehicle at this point in time, another might."
I engaged Skoda dealer and Audi dealer and they are supposed to contact VWFS to get the early termination quote. I'm looking into used cars, I don't want another brand new VAG product under any circumstances. Audi dealer told me, that they will buy out my car from finance company and I can take another contract. But according to them, I will lose whatever I paid to VWFS, without getting anything back. I paid big upfront and was hoping to get something back, due to high prices/values of used cars. Normaly, there's a shortfall and people have to pay it, so I thought, in current times, there might be some surplus and I can get something back. I'm going to contact VWFS to ask if I can get anything back if the value of the car is high. Waiting for the email, but who knows when they respond.
I can update you how it's going in couple of days.
Edited by PenelopaPitstop on Monday 2nd August 09:22
Thanks that's interesting.
People, me included need to be very cautious when leasing.
I looked at buying my car mid lease contacting Driverline (BCA) on Friday. They haven't told me the cost yet but are basing it on the current 13500 mileage NOT the 24500 I have paid for to date.
So a lose lose for me.
Lesson to anyone doing this quote the mileage you have paid for NOT the physical mileage.
I've asked a couple of VW Dealers re Preferential Early Termination. One has told me it doesn't exist.
People, me included need to be very cautious when leasing.
I looked at buying my car mid lease contacting Driverline (BCA) on Friday. They haven't told me the cost yet but are basing it on the current 13500 mileage NOT the 24500 I have paid for to date.
So a lose lose for me.
Lesson to anyone doing this quote the mileage you have paid for NOT the physical mileage.
I've asked a couple of VW Dealers re Preferential Early Termination. One has told me it doesn't exist.
Salesman in Audi didn't know about it, but went to talk to his money man (business manager), who knew how it works.
I wouldn't mind buying my car as well and then selling it to Webuyanycar, but not sure it will be allowed at 4 months.
Ok, so I talked to VWFS, if I paid higher upfront, to have lower monthlies, tough luck. I don't get anything back. It probably means, that dealer buying car fom VWFS, buys it cheaper and benefits from my higher upfront. I assume, if I paid lower upfront and total lower amount so far, dealer would have to pay a bit more for the car, but with higher used car prices, it would probably still mean no shortage to customer.
According to my calculation, I would lose £1964 by closing the contract now. Loss is calculated as extra amount over average monthly payment during PCH contract.
So I either lose £1964 or drive the car I don't like for another 20 months.
I wouldn't mind buying my car as well and then selling it to Webuyanycar, but not sure it will be allowed at 4 months.
Ok, so I talked to VWFS, if I paid higher upfront, to have lower monthlies, tough luck. I don't get anything back. It probably means, that dealer buying car fom VWFS, buys it cheaper and benefits from my higher upfront. I assume, if I paid lower upfront and total lower amount so far, dealer would have to pay a bit more for the car, but with higher used car prices, it would probably still mean no shortage to customer.
According to my calculation, I would lose £1964 by closing the contract now. Loss is calculated as extra amount over average monthly payment during PCH contract.
So I either lose £1964 or drive the car I don't like for another 20 months.
Edited by PenelopaPitstop on Monday 2nd August 12:24
PenelopaPitstop said:
Salesman in Audi didn't know about it, but went to talk to his money man (business manager), who knew how it works.
I wouldn't mind buying my car as well and then selling it to Webuyanycar, but not sure it will be allowed at 4 months.
Ok, so I talked to VWFS, if I paid higher upfront, to have lower monthlies, tough luck. I don't get anything back. It probably means, that dealer buying car fom VWFS, buys it cheaper and benefits from my higher upfront. I assume, if I paid lower upfront and total lower amount so far, dealer would have to pay a bit more for the car, but with higher used car prices, it would probably still mean no shortage to customer.
According to my calculation, I would lose £1964 by closing the contract now. Loss is calculated as extra amount over average monthly payment during PCH contract.
So I either lose £1964 or drive the car I don't like for another 20 months.
Is this on your Cupra Formentor??? I wouldn't mind buying my car as well and then selling it to Webuyanycar, but not sure it will be allowed at 4 months.
Ok, so I talked to VWFS, if I paid higher upfront, to have lower monthlies, tough luck. I don't get anything back. It probably means, that dealer buying car fom VWFS, buys it cheaper and benefits from my higher upfront. I assume, if I paid lower upfront and total lower amount so far, dealer would have to pay a bit more for the car, but with higher used car prices, it would probably still mean no shortage to customer.
According to my calculation, I would lose £1964 by closing the contract now. Loss is calculated as extra amount over average monthly payment during PCH contract.
So I either lose £1964 or drive the car I don't like for another 20 months.
Edited by PenelopaPitstop on Monday 2nd August 12:24
If so, what's the major beef? We are absolutely loving ours.....ticks every box and some.....even wanting to extend out to the 3 years as soon as physically allowable
Edited by MattyD803 on Monday 2nd August 13:28
Major issues:
-performance looks good on paper, poor on the road. Only dynamic in Cupra mode with gearbox in sport, Comfort awfully slow.
-ACC is driving me crazy with discovering cars on the left or right and slowing me down.
-emergency braking (rear) when reversing in high grass or foliage
-other nanny systems I have to switch off every time
-lack of buttons, I knew about it, but still annoying
I guess, ACC is the worst offender and it's totaly spoiling my driving. I'm looking for older car without ACC, produced between 2017 and 2019. Due to conditions of preferential termination, I'm limited to VAG franchised dealers and approved used cars, which are often overpriced. On my negotiation list are: Octavia vRS previous model, overpriced A6 Allroad and today found A8, but dealer is looking for service records which seem to be missing.
-performance looks good on paper, poor on the road. Only dynamic in Cupra mode with gearbox in sport, Comfort awfully slow.
-ACC is driving me crazy with discovering cars on the left or right and slowing me down.
-emergency braking (rear) when reversing in high grass or foliage
-other nanny systems I have to switch off every time
-lack of buttons, I knew about it, but still annoying
I guess, ACC is the worst offender and it's totaly spoiling my driving. I'm looking for older car without ACC, produced between 2017 and 2019. Due to conditions of preferential termination, I'm limited to VAG franchised dealers and approved used cars, which are often overpriced. On my negotiation list are: Octavia vRS previous model, overpriced A6 Allroad and today found A8, but dealer is looking for service records which seem to be missing.
Edited by PenelopaPitstop on Monday 2nd August 16:30
PenelopaPitstop said:
Major issues:
-performance looks good on paper, poor on the road. Only dynamic in Cupra mode with gearbox in sport, Comfort awfully slow.
-ACC is driving me crazy with discovering cars on the left or right and slowing me down.
-emergency braking (rear) when reversing in high grass or foliage
-other nanny systems I have to switch off every time
-lack of buttons, I knew about it, but still annoying
I guess, ACC is the worst offender and it's totaly spoiling my driving. I'm looking for older car without ACC, produced between 2017 and 2019. Due to conditions of preferential termination, I'm limited to VAG franchised dealers and approved used cars, which are often overpriced. On my negotiation list are: Octavia vRS previous model, overpriced A6 Allroad and today found A8, but dealer is looking for service records which seem to be missing.
Fair enough, we've not experienced half of the issues you have listed to be fair and have finally (after 3 months) become "one" with the infotainment, but I can understand your niggles - good luck with the hand back / replacement.....-performance looks good on paper, poor on the road. Only dynamic in Cupra mode with gearbox in sport, Comfort awfully slow.
-ACC is driving me crazy with discovering cars on the left or right and slowing me down.
-emergency braking (rear) when reversing in high grass or foliage
-other nanny systems I have to switch off every time
-lack of buttons, I knew about it, but still annoying
I guess, ACC is the worst offender and it's totaly spoiling my driving. I'm looking for older car without ACC, produced between 2017 and 2019. Due to conditions of preferential termination, I'm limited to VAG franchised dealers and approved used cars, which are often overpriced. On my negotiation list are: Octavia vRS previous model, overpriced A6 Allroad and today found A8, but dealer is looking for service records which seem to be missing.
Edited by PenelopaPitstop on Monday 2nd August 16:30
It depends where you drive and how you drive. I use this car mostly for motorway runs and on busy M25 and nearby motorways, ACC is really annoying. If I was doing everyday commute with queues, I would probably be happy with ACC driving for me.
And foliage and emergency braking came to life when going to camping sites in the fields. I thought higher clearance would be helpful in such places, but I didn't know emergency system will spoil it.
And foliage and emergency braking came to life when going to camping sites in the fields. I thought higher clearance would be helpful in such places, but I didn't know emergency system will spoil it.
PenelopaPitstop said:
It depends where you drive and how you drive. I use this car mostly for motorway runs and on busy M25 and nearby motorways, ACC is really annoying. If I was doing everyday commute with queues, I would probably be happy with ACC driving for me.
And foliage and emergency braking came to life when going to camping sites in the fields. I thought higher clearance would be helpful in such places, but I didn't know emergency system will spoil it.
We've had ACC on various cars since 2013, so very aware of it's limitations in various situations. Our first experience was with our 2007 Honda CRV and I can assure you that the latest VAG system is MILES better than the early systems!! And foliage and emergency braking came to life when going to camping sites in the fields. I thought higher clearance would be helpful in such places, but I didn't know emergency system will spoil it.
Understand your points though, we mostly potter around town in ours, and hence driving in busy motorway situations don't really affect us....but then again, I don't think I'd want to be using cruise control during that situation anyway? But maybe that's just me. Good luck and keep us posted with how you get on....Did your ACC try to prevent you from undertaking and had a glitch when it switched between Europe/UK and was slowing down for cars on right lane and left lane? Pretty annoying to constantly override it, to be able to just pass cars on my left.
There's issue of not liking ACC and ACC not behaving as it should be, because of poor software.
There's issue of not liking ACC and ACC not behaving as it should be, because of poor software.
PenelopaPitstop said:
Did your ACC try to prevent you from undertaking
Why would you be undertaking?PenelopaPitstop said:
and had a glitch when it switched between Europe/UK and was slowing down for cars on right lane and left lane? Pretty annoying to constantly override it, to be able to just pass cars on my left.
There's issue of not liking ACC and ACC not behaving as it should be, because of poor software.
So your car was broken.There's issue of not liking ACC and ACC not behaving as it should be, because of poor software.
PF62 said:
PenelopaPitstop said:
Did your ACC try to prevent you from undertaking
Why would you be undertaking?PF62 said:
PenelopaPitstop said:
and had a glitch when it switched between Europe/UK and was slowing down for cars on right lane and left lane? Pretty annoying to constantly override it, to be able to just pass cars on my left.
There's issue of not liking ACC and ACC not behaving as it should be, because of poor software.
So your car was broken.There's issue of not liking ACC and ACC not behaving as it should be, because of poor software.
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