Confused.com exclusive £5k Deposit Towards Golf GT £299.95 a month (Total amount of credit £20,144.31)
19°Expired

Confused.com exclusive £5k Deposit Towards Golf GT £299.95 a month (Total amount of credit £20,144.31)

19
Found 22nd Jul
Yes I know lease deals can be very cheap but this 4yr PCP has a very low £310 deposit a realistic 10kpa mileage and a couple of free services for a luxury car that returns 50+ mpg. Seems a cheap way to own a Golf to me, includes metallic paint too.

19 Comments

Not a bad deal but only if you want a new one, I get 54MPG out of my 2001 GTTDI. If you are after MPG and can't buy new then I would recommend just buying one of them

Pricey.

Get the same car on lease - you will save a few thousand over 4 years.

Your PCP deal = £14.5k over 4 years for 40k miles and 2 'free' services. There will be no equity when handing the car back after 4 years. Plus cost of service in year 3 and MOT. New tyres will be needed. Add about £500 for all of that. Total £15k - equivalent to £7.5k every 2 years.

PCH deal: contracthireandleasing.com/ind…35/

Cost of PCH over 2 years = £5.7k. Add £450 for metallic paint and £150 for a service. No new tyres needed as you can swap the front/rears after 10k. Total cost £6.3k over 2 years. Get a similar car or the same car and repeat again every 2 years.

Also remember that you have to pay VED with the PCP (cost included when leasing) and you'll have a car that's out of warranty for a year with the PCP. Out-of-warranty repair costs will add up - no risk of that with leasing every 2 years.

Assuming the £20k is for buying the car outright and not just four years then this is about the going rate:
honestjohn.co.uk/car…=GT

It might work out the cheapest, you'd have to run the numbers, but it's unlikely to be by much.

And as it's a VW don't forget there'll likely be several things on the options list you'd expect to be standard, so don't forget to account for those.

for 20k I'll buy a nice SUV.
Golf is a nice but so average car and not worth 20k Imo
There is the awesome Toyota CHR (on of the prettiest car ever Imo)..or high spec Nissan Qashqai..beat Golf easily in terms of prestige, joy of ride, economy and also better/on par quality.
Golf is not worth more than 15k max.
PS : I really like Golf.
Edited by: "Tequila" 22nd Jul

I have a golf at the moment but this is MK 7.5 and the MK8 looks like it will be a major facelift/upgrade so residual values will be lower on this model. I'm not that keen on the look either.
Edited by: "Jaybeam" 22nd Jul

get a golf r on lease for the price of that

Original Poster

I know leasing is cheap guys, but you can't buy it at the end of a lease and here you can buy the car for £8550 at the end of the term. I doubt you'll find a 4yr old 40k mile golf GT for £8550 for sale anywhere. Also this one you'd have owned from new and you'd know exactly how it was driven etc.

jjgreenwood2

I know leasing is cheap guys, but you can't buy it at the end of a lease … I know leasing is cheap guys, but you can't buy it at the end of a lease and here you can buy the car for £8550 at the end of the term. I doubt you'll find a 4yr old 40k mile golf GT for £8550 for sale anywhere. Also this one you'd have owned from new and you'd know exactly how it was driven etc.



VWFS wrote to me a couple of months before the end of the term to ask me if I was interested in buying my lease car. This is despite telling me at the beginning that there would be no option to purchase.

Don't forget if you want to buy at the end you need to either lay your hands on £8.5k or take out another loan. Some people measure affordability by outgoings vs income rather than total cost, and for them it's perhaps easier to take out another cheap lease than stump up a big lump sum. My own experience has taught me to be wary of running VW cars outside warranty after my Mk5 Golf owned since new started falling apart at 6 years old.

Original Poster

Guzzle

VWFS wrote to me a couple of months before the end of the term to ask me … VWFS wrote to me a couple of months before the end of the term to ask me if I was interested in buying my lease car. This is despite telling me at the beginning that there would be no option to purchase. Don't forget if you want to buy at the end you need to either lay your hands on £8.5k or take out another loan. Some people measure affordability by outgoings vs income rather than total cost, and for them it's perhaps easier to take out another cheap lease than stump up a big lump sum. My own experience has taught me to be wary of running VW cars outside warranty after my Mk5 Golf owned since new started falling apart at 6 years old.



That may well be the case but they wouldn't be charging you £8500 for a 4yr old Golf GT with 40k miles. A VW is a mass produced car and its as good quality as any other mass produced car, especially as this one has been in production for ages unlike your Golf MK5.

jjgreenwood2

That may well be the case but they wouldn't be charging you £8500 for a … That may well be the case but they wouldn't be charging you £8500 for a 4yr old Golf GT with 40k miles. A VW is a mass produced car and its as good quality as any other mass produced car, especially as this one has been in production for ages unlike your Golf MK5.



You're missing the point. If you got 2 x 2 year leases you'd save £3k (when you factor in VED costs on the PCP). Put that £3k, along with the £8.5k, and you'll definitely find a 4 year old Golf with less than 40k miles - with lots of change to spare.

To prove that this PCP deal is poor, have a look at this 4 year lease with 10k miles pa:

contracthireandleasing.com/ind…63/

Works out at about £11k over the 4 years. Your PCP deal works out at about £14.5k - that's £3.5k more expensive. At the end of the lease, buy the car. Of course the price won't be £8.5k, but it'll certainly be cheaper than £12k.

I'm paying £269 a month for a new Golf GTI on lease to give you an idea for comparison...

Original Poster

karlie88

You're missing the point. If you got 2 x 2 year leases you'd save £3k … You're missing the point. If you got 2 x 2 year leases you'd save £3k (when you factor in VED costs on the PCP). Put that £3k, along with the £8.5k, and you'll definitely find a 4 year old Golf with less than 40k miles - with lots of change to spare.To prove that this PCP deal is poor, have a look at this 4 year lease with 10k miles pa:https://www.contracthireandleasing.com/independent-brokers/fleetprices-co-uk-limited/volkswagen/golf/211290663/Works out at about £11k over the 4 years. Your PCP deal works out at about £14.5k - that's £3.5k more expensive. At the end of the lease, buy the car. Of course the price won't be £8.5k, but it'll certainly be cheaper than £12k.


I'm not missing any point. This deal is for people who are interested in ownership not a lease. In your example I have to hand back 2 cars, pay for any damage etc twice, have the stress of working out overlapping deals twice and then have to go and buy a used car which I have no idea who has driven it, how its been driven or even if its had an accident or paint etc. On the lease deal I can't settle early if I want to, I can't sell it and settle the outstanding finance, if I want to change cars I have to pay the outstanding rentals.

I'm not saying a lease is a bad thing, its just cheap for a reason, this is very good value for a PCP and very comparable to your lease.

jjgreenwood2

That may well be the case but they wouldn't be charging you £8500 for a … That may well be the case but they wouldn't be charging you £8500 for a 4yr old Golf GT with 40k miles. A VW is a mass produced car and its as good quality as any other mass produced car, especially as this one has been in production for ages unlike your Golf MK5.



What i'm saying is the £8.5k option to purchase needs to be taken in the context of £3k more in monthly payments, plus interest on a £8.5k loan (unless you have savings to dip into), plus inevitable additional maintenance costs on an older car (cam belt, water pump etc), plus road tax for every year you keep it. And that's if the car is completely reliable. You're not very far away from the cost of another 4yr lease on a brand new car. Of course if you prefer to save a bit and buy outright then do as karlie says and buy the lease car for about £10k - £11k instead of handing it back.

I'll agree with you that VW is probably no worse overall in terms of quality than other makes, but they aren't immune to faults outside of warranty. They aren't even immune to faults inside warranty.

Original Poster

Guzzle

What i'm saying is the £8.5k option to purchase needs to be taken in the … What i'm saying is the £8.5k option to purchase needs to be taken in the context of £3k more in monthly payments, plus interest on a £8.5k loan (unless you have savings to dip into), plus inevitable additional maintenance costs on an older car (cam belt, water pump etc), plus road tax for every year you keep it. And that's if the car is completely reliable. You're not very far away from the cost of another 4yr lease on a brand new car. Of course if you prefer to save a bit and buy outright then do as karlie says and buy the lease car for about £10k - £11k instead of handing it back. I'll agree with you that VW is probably no worse overall in terms of quality than other makes, but they aren't immune to faults outside of warranty. They aren't even immune to faults inside warranty.


I agree if you are going to try and find an argument based on yet more monthly payments it will go wrong somewhere along the line.If you don't its a cheap car at the end of 4 years.

I'm sure you can get a golf r for this pr

I was about to write a really long post then I saw the car is a diesel.

With how the government is looking at penalising diesel drivers are you sure the car will be worth £8.5k in 4 years time.

I wouldn't use the word 'luxury' with a VW lol

EagleUK22nd Jul

Not a bad deal but only if you want a new one, I get 54MPG out of my 2001 …Not a bad deal but only if you want a new one, I get 54MPG out of my 2001 GTTDI. If you are after MPG and can't buy new then I would recommend just buying one of them

I genuinely don't MK4 golfs are plagued with problems.
Post a comment
Avatar
@
    Text