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VW Polo GTI DSG 8k for 3 yrs for 209.99 / mth £7560 FOR 3 YEARS (not 2 years!!!!) @ Yes Lease
VW Polo GTI DSG 8k for 3 yrs for 209.99 / mth £7560 FOR 3 YEARS (not 2 years!!!!) @ Yes Lease

VW Polo GTI DSG 8k for 3 yrs for 209.99 / mth £7560 FOR 3 YEARS (not 2 years!!!!) @ Yes Lease

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This seems like an awesome deal. Polo GTI with the DSG gearbox for £210 a month.

This is a 3 year deal folks, not a 2 year.

70 Comments

Why do folks insist on renting depreciation ? PCP will end in tears for the finance co and the renters in the next few months

[quote=rogparki]Why do folks insist on renting depreciation ? PCP will end in tears for the finance co and the renters in the next few months [/quote]\x0d\x0a\x0d\x0aPCP isn't renting really, and this deal definitely isn't PCP in any case.

ezzer72

PCP isn't renting really, and this deal definitely isn't PCP in any case.


PCP / PCH isn't renting ?! wake up and smell the flowers . Until you pay the " balloon " payment ( which isn't good as used car prices are dropping like a stone because of these deals ) you are renting depreciation - Good Luck with your flashy new car
Edited by: "rogparki" 6th Jul

rogparki

PCP isn't renting ?! wake up and smell the flowers . Until you pay the " … PCP isn't renting ?! wake up and smell the flowers . Until you pay the " balloon " payment ( which isn't good as used car prices are dropping like a stone because of these deals ) you are renting depreciation - Good Luck with your flashy new car



No, it isn't.

And I don't buy PCPs, I sell them - have worked in the industry since 1988.

A PCP's final payment/balloon/GFV whatever you want to call it, is essentially a settlement figure.

So for example, if you bought a £20,000 car on old fashioned HP at £333.33 per month (I am using a 0% example with no deposit, for simplicity), after 36 months you would still owe £7999.92.

How is that different to a PCP? Apart from the obvious advantage of being able to hand the car back if it isn't worth as much as the agreed GFV - an option HP buyers don't have.

In a perfect world nobody would have to borrow money to buy a car, but seeing as this is rarely the case (unless buying a banger), there is nothing wrong with a PCP.

rogparki

PCP / PCH isn't renting ?!



Nice edit

PCH is renting, PCP not really.

If you can afford it why not, you can't take it with you

Original Poster

rogparki

Why do folks insist on renting depreciation ? PCP will end in tears for … Why do folks insist on renting depreciation ? PCP will end in tears for the finance co and the renters in the next few months



Err you are renting a car dude. In this case a very nice Polo with a very nice gearbox for the same price as something a lot more basic.

You could buy one instead I guess. I suppose then you'd be buying the depreciation outright. That would be much better wouldn't it.

look at it like this....your hiring a nice car for £50 notes a week.

ezzer72

No, it isn't.And I don't buy PCPs, I sell them - have worked in the … No, it isn't.And I don't buy PCPs, I sell them - have worked in the industry since 1988.A PCP's final payment/balloon/GFV whatever you want to call it, is essentially a settlement figure.So for example, if you bought a £20,000 car on old fashioned HP at £333.33 per month (I am using a 0% example with no deposit, for simplicity), after 36 months you would still owe £7999.92.How is that different to a PCP? Apart from the obvious advantage of being able to hand the car back if it isn't worth as much as the agreed GFV - an option HP buyers don't have. In a perfect world nobody would have to borrow money to buy a car, but seeing as this is rarely the case (unless buying a banger), there is nothing wrong with a PCP.


Ah a used car salesman Good pitch -but sadly you omit a few points - You don't ever own the car , hand it back and you will be stung by charges for the smallest scratch etc . You are not buying a car you are renting its depreciation - you surely know that ?

Yet another way to get money off the gullible who want everything today and not wait till they have worked for it . I'm sure you know that these "debts " are being packaged and sold (by the lenders on the money markets ) as the sub prime mortgages were ? I hope you have another career lined up for when it goes pear shaped as it inevitably will .

Or for those who are sensible and keep the car in good condition, you are buying the car without needing to worry about selling it yourself.

Ive leased a car and never needed to pay a penny for anything extra. In fact with my last lease, I did an extra 2,000 miles but they waived the charge.

Im not gullible and work hard. Do you even do the math before making such trash statements?

rogparki4 m ago

Ah a used car salesman Good pitch -but sadly you omit a few points - …Ah a used car salesman Good pitch -but sadly you omit a few points - You don't ever own the car , hand it back and you will be stung by charges for the smallest scratch etc . You are not buying a car you are renting its depreciation - you surely know that ? Yet another way to get money off the gullible who want everything today and not wait till they have worked for it . I'm sure you know that these "debts " are being packaged and sold (by the lenders on the money markets ) as the sub prime mortgages were ? I hope you have another career lined up for when it goes pear shaped as it inevitably will .

toymotor

look at it like this....your hiring a nice car for £50 notes a week.


To be fair looking at it that way ,and you haven't got much dosh , that's the attraction - add it to the phone , the tele , the SKY , the PlayStation etc all that you can't afford but can have - it can only end in tears - Just saying

I think there have been a few stories in the papers recently car leases becoming the next financial crash. But i think the risk isn't with the individual particularly, as long as you make the repayments, its no problem. The risk is that the second hand value of these cars collapses, and then the lease and finance company's sums don't add up when the lease ends - so they face losses. Not really a problem for the customer, and could mean some good used car bargains to be had.

rogparki

Ah a used car salesman Good pitch -but sadly you omit a few points - … Ah a used car salesman Good pitch -but sadly you omit a few points - You don't ever own the car , hand it back and you will be stung by charges for the smallest scratch etc . You are not buying a car you are renting its depreciation - you surely know that ? Yet another way to get money off the gullible who want everything today and not wait till they have worked for it . I'm sure you know that these "debts " are being packaged and sold (by the lenders on the money markets ) as the sub prime mortgages were ? I hope you have another career lined up for when it goes pear shaped as it inevitably will .



Why did you assume 'used'? PCP is predominantly a new car funding method (but to be fair, a few moments ago you thought PCP and PCH were the same product, so...).

I have to admit that I have no understanding of the debts being packaged up and sold, that isn't something that I am involved with. You may be right about the future, you may be wrong, what will be will be I guess.

So, on to your point of 'you never own the car'. As per my example, if you make 36 of the 60 £333.33 payments, but don't pay the remaining £7999.92, do you 'own' that car?

I guess it's down to personal circumstances, for me just started a lease and don't regret it. Bought my last three cars cash and kept them 2 years max so lost a fair bit each swop, sold my most recent car and put the money into doing up my new house .
My personal view if you change your cars a lot then leaseing makes perfect sense but if you just have a car to get you around and are happy to keep it until it starts breaking down then buying outright is the way forward, each to there own, if we all did the same thing life would be boring
Edited by: "chrisdicko22" 6th Jul

For anyone wanting a new car, leasing is the way to go. As long as you choose a sensible deal you will pay less than the depreciation you would have experienced if bought.
PCH gives you the option to buy but you are not lumbered if the car doesn't meet expectations

Original Poster

jazzag

Or save yourself over 2 grand and get the far better … Or save yourself over 2 grand and get the far better golfhttps://www.centralukvehicleleasing.co.uk/vehicle/choose_your_lease/78447/volkswagen/golf/20_tsi_gti_5dr.html£5,620 for 5000 mils p.a.



Jesus... Do some basic adding up and you will realise that the Golf is more expensive once you add on the initial payment. Plus it's only 5000 miles p.a. Plus Lease deals on autos (not to mention superior DSGs), which the Golf isn't, aren't that common.

ezzer72

Why did you assume 'used'? PCP is predominantly a new car funding method … Why did you assume 'used'? PCP is predominantly a new car funding method (but to be fair, a few moments ago you thought PCP and PCH were the same product, so...).I have to admit that I have no understanding of the debts being packaged up and sold, that isn't something that I am involved with. You may be right about the future, you may be wrong, what will be will be I guess.So, on to your point of 'you never own the car'. As per my example, if you make 36 of the 60 £333.33 payments, but don't pay the remaining £7999.92, do you 'own' that car?


But one would presume on HP after completing the 3 years payments you own the car (which should be worth more than £7999.92) unless the Finance companies have access to Corbyn's "something for nothing Magic money tree" and are giving away free money ?

Always choose a company registered with the British Rental & Leasing Association; their rules on damage/fair wear and tear are very reasonable.

Original Poster

Why the axe grinding rogparki.

If someone wants to rent rather than own - why is that such a problem for you?

Why is buying a car outright, then losing as much (and possibly more) in depreciation, better than renting for a few years and paying the same or less than the equivalent depreciation?

rogparki

sadly you omit a few points - You don't ever own the car , hand it back … sadly you omit a few points - You don't ever own the car , hand it back and you will be stung by charges for the smallest scratch etc .



What you have just described doesn't actually happen, but let's satisfy you for a moment and pretend it did.

I am assuming you are an extremely wealthy man, who pays cash for his high end car. If you scratch it, who pays to repair that, the fairies?

rogparki

But one would presume on HP after completing the 3 years payments you … But one would presume on HP after completing the 3 years payments you own the car (which should be worth more than £7999.92) blah blah blah blah



You still don't get it do you? In order to have 'PCP sized payments', you would have to take a 60 months HP - having made 36 payments (as per most PCP deals) you would still owe 24 x £333.33 (£7999.92).

NOW can you see what I mean, about HP and PCP being actually very similar?

And how come that (imaginary) car would be worth more than £7,999.92, but no PCP bought car is ever worth more than it's 'balloon'? You are wrong.

Original Poster

rogparki

But one would presume on HP after completing the 3 years payments you … But one would presume on HP after completing the 3 years payments you own the car (which should be worth more than £7999.92) unless the Finance companies have access to Corbyn's "something for nothing Magic money tree" and are giving away free money ?



Lol - you big troll Rogparki. Everyone knows that Mrs May owns the magic money tree. Just ask the DUP.

It's all Europe's fault anyway innit.

scunderedlike

Jesus... Do some basic adding up and you will realise that the Golf is … Jesus... Do some basic adding up and you will realise that the Golf is more expensive once you add on the initial payment. Plus it's only 5000 miles p.a. Plus Lease deals on autos (not to mention superior DSGs), which the Golf isn't, aren't that common.



And only 2 years motoring, not 3.

Personally, I would strongly advise against both cars.

scunderedlike

Jesus... Do some basic adding up and you will realise that the Golf is … Jesus... Do some basic adding up and you will realise that the Golf is more expensive once you add on the initial payment. Plus it's only 5000 miles p.a. Plus Lease deals on autos (not to mention superior DSGs), which the Golf isn't, aren't that common.



Sorry its £6264 but that is still £1500 cheaper for a far better car. DSG £12 a month more

centralukvehicleleasing.co.uk/veh…tml

jazzag

Sorry its £6264 but that is still £1500 cheaper for a far better car. DSG … Sorry its £6264 but that is still £1500 cheaper for a far better car. DSG £12 a month morehttps://www.centralukvehicleleasing.co.uk/vehicle/choose_your_lease/78448/volkswagen/golf/20_tsi_gti_5dr_dsg.html



It's only for 2 years though...

Contract Hire - in whatever form - was designed as a way for companies /self employed to access vehicles in a tax efficient way (as they were tax deductible . PCP/PCH or whatever ( the clue is in the "P" - Personal ) are not tax deductible so therefore are not an efficient way to buy by definition .

OK if you want to add to your debt pile and drive a flashy new car you can't afford (and could not be approved for a normal car or Bank loan ) maybe its for you .

Anyway my rant against PCP/PCH over - I'll leave the topic to those who may care to say whether its a good deal or not -if you must go this route

Also forget the RRPs - I'm in the process of buying a new car - Cash - for 22% off RRP- even VWs or Audis can be had at 12% or more off RRP - Rant against PPC/PPH over

ezzer72

Personally, I would strongly advise against both cars.



What would you recommend?
Leasing / renting or whatever it may be is something I'm seriously thinking of delving into next year, or even towards the back end of this year.

Always 'interesting' these topics.

Original Poster

ezzer72

It's only for 2 years though...



This 2 years vs 3 years is a difficult concept for some.

Original Poster

rogparki

Contract Hire - in whatever form - was designed as a way for companies … Contract Hire - in whatever form - was designed as a way for companies /self employed to access vehicles in a tax efficient way (as they were tax deductible . PCP/PCH or whatever ( the clue is in the "P" - Personal ) are not tax deductible so therefore are not an efficient way to buy by definition . OK if you want to add to your debt pile and drive a flashy new car you can't afford (and could not be approved for a normal car or Bank loan ) maybe its for you . Anyway my rant against PCP/PCH over - I'll leave the topic to those who may care to say whether its a good deal or not -if you must go this route Also forget the RRPs - I'm in the process of buying a new car - Cash - for 22% off RRP- even VWs or Audis can be had at 12% or more off RRP - Rant against PPC/PPH over



What are you buying Rogparki?

Infinity?

rogparki

Also forget the RRPs - I'm in the process of buying a new car - Cash - … Also forget the RRPs - I'm in the process of buying a new car - Cash - for 22% off RRP



Wow, that sounds like a really popular model with high demand

Are you not familiar with the phrase 'today's discount, is tomorrow's depreciation' - it's utterly true, with few if any exceptions.

You are probably buying an end of line, about to be replaced model, that you will struggle to give away when you come to change it next time.

So, it would seem that you're not quite as 'depreciation-proof' as you had lead yourself to believe.

backinstock

What would you recommend?Leasing / renting or whatever it may be is … What would you recommend?Leasing / renting or whatever it may be is something I'm seriously thinking of delving into next year, or even towards the back end of this year.Always 'interesting' these topics.



Nothing wrong with PCH/PCP, I just find VW Group cars to be dreadful, based on first hand experience.

This said, due to their desperation they are super cheap on these PCH deals at the moment, so if you like them, why not I suppose.

ezzer72

No, it isn't.And I don't buy PCPs, I sell them - have worked in the … No, it isn't.And I don't buy PCPs, I sell them - have worked in the industry since 1988.A PCP's final payment/balloon/GFV whatever you want to call it, is essentially a settlement figure.So for example, if you bought a £20,000 car on old fashioned HP at £333.33 per month (I am using a 0% example with no deposit, for simplicity), after 36 months you would still owe £7999.92.How is that different to a PCP? Apart from the obvious advantage of being able to hand the car back if it isn't worth as much as the agreed GFV - an option HP buyers don't have. In a perfect world nobody would have to borrow money to buy a car, but seeing as this is rarely the case (unless buying a banger), there is nothing wrong with a PCP.


There is nothing wrong with a PCP with one massive wrong that could go wrong, the market value of the car is this year less than the balloon payment. Especially true for all diesel cars. It means you get the same car cheaper in the market by walking away.

splender

There is nothing wrong with a PCP with one massive wrong that could go … There is nothing wrong with a PCP with one massive wrong that could go wrong, the market value of the car is this year less than the balloon payment. Especially true for all diesel cars. It means you get the same car cheaper in the market by walking away.



That's right, it's basically a safety net that allows you to walk away from a car that is worth less than the final payment.

New polo gti is out next year

Wadda16 m ago

New polo gti is out next year

​Thanks for the update

ezzer72

That's right, it's basically a safety net that allows you to walk away … That's right, it's basically a safety net that allows you to walk away from a car that is worth less than the final payment.


And then these safety nets, if millions of them, are paid by ??? Who in turn may trigger a meltdown and then these toxic loans are paid may be borne by taxpayers.

splender

And then these safety nets, if millions of them, are paid by ??? Who in … And then these safety nets, if millions of them, are paid by ??? Who in turn may trigger a meltdown and then these toxic loans are paid may be borne by taxpayers.



Yeah, perhaps. I think we should blame VW if the World ends.

I may as well say it - new cars are for mugs. Whether you pay cash, take a loan or lease, you pay more. Better off with a nearly new car. Financially makes much more sense.
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