Prob a silly financial decision - 2021 Model 3 LR

[oxnop]

Current set up is we have a 2019 e-golf on lease as our ‘run about’ vehicle. I’ve got a garage queen Evo 6 for the weekends and we have a nice VW van for family excursions / camping trips etc.... we also seemingly don’t drive at all anymore due to covid / WFH etc

The golf has been great, it’s our second e-golf. We put proper winter tyres on it for 4 months a year which this year came in handy and it hasn’t let us down. We’ve done long trips (300ish miles) in it, it’s come with us and the van on camping trips and it’s ace when I need to get the daughter to nursery quickly (no warm up, great in traffic, quick to 30mph)

Lockdown boredom got me looking at replacing the e-golf, so we’ve been reading up on polestar 2’s, Tesla’s, even polestar engineered v60 hybrids. The golf isn’t due to go back for another 16mts though...... here’s where the possibly poor financial decision has come in..... I’ve paid 2k to early terminate the e-golf.

Reading around it looked like there were some decent deals on the new variant Long Range... so we bit the bullet yesterday. Our deal is £1.6k down and £530pm for 6k annual miles with a 9p pm excess. We’ve been told it *may* turn up at the end of March

I’ve got some subtle modifications planned for the Tesla (already ordered a nice SSDD motorsport carbon spoiler) so I’ll keep this thread updated as think it will be interesting to compare to the e-golf

Comparisons at this stage are..... the model 3 insurance is double what the e-golf is. Paid £320 for the golf, quote is £750 for the Tesla.

Edited by oxnop on Wednesday 17th February 08:13

[Zoon]

Is that on lease? What is the term
Mods on a lease are usually a no-no so I’d be careful.

[Welshbeef]

You cannot legally modify a PCH or PCP vehicle - why? It is not your asset & you’ve signed a contract which covers this.

There was last year an incident where you tuber LLF (living life fast) had an M4 on PCP he modified it VWFS demanded return in a week or two OR pay off the full finance position at that time. If returned to them there would be costs in returning it to in modified and also any harm to its market value due to being modified to be charged to the individual.

Buy the car so what you like with it provided it is road legal.

[Zoon]

I do think paying £2k to early terminate a car is madness. Especially when it’s doing it’s job. I could understand it more if it was unreliable and the manufacturer was refusing to help.

[Frimley111R]

Sounds like you got bored and made a poor financial decision. I am sure most of us have been window shopping for cars but just not done anything about it.

I looked at the LR too and even test drove one but given the uncertainty over my mileage in the next year or so it seemed sensible to wait. Its a fairly big deposit and monthly on one just to have it sitting in the drive mostly.

Still, you've done it now but as said above, watch those mods...

[oxnop]

I also think it’s madness to change but in this lockdown world it’s nice to buy some shiney new things! The wife signed off too which is a plus (bigger boot, longer range, nice space for kids in back with pano roof etc)

At the start of last lockdown I treated ‘us’ to the Evo. So she’s pleased it’s not somthing that will take up another garage space.

Points taken on the mods - The mods I have planned could be removed in minutes / without damage / actually protect the car so I’m not worried about any run ins with the finance co.

[oxnop]

Zoon said:

Is that on lease? What is the term
Mods on a lease are usually a no-no so I’d be careful.

36months. Could have dropped monthly’s to 490ish if I’d have done 48mts. The MRS said we’d only end up early terminating again as I’ll get bored ........

[gts.981]

oxnop said:

The golf has been great.......
..... it’s ace when I need to get the daughter to nursery quickly (no warm up, great in traffic, quick to 30mph)

Edited by oxnop on Wednesday 17th February 08:13

Rrrrriiiigggghhhhhhtttttttt..........

[SWoll]

£2k to early terminate a car and immediately jumps into another long term deal. You're a finance companies wet dream OP.

[oxnop]

SWoll said:

£2k to early terminate a car and immediately jumps into another long term deal. You're a finance companies wet dream OP.

I know My other vehicles are not financed though, so this is my way of doing my bit for the finance community!