Ordered a viper green scirocco!

Spunkey said:
Depends on the deposit placed, but specc'd as the OP says it's £20,500.

Assuming a 15% deposit minimum (£3000) and 10k miles a year, VW's site says roughly £315 a month x 35, leaving just under £10k at the end.
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does that include gap insurance ?
 
Spunkey said:
Depends on the deposit placed, but specc'd as the OP says it's £20,500.

Assuming a 15% deposit minimum (£3000) and 10k miles a year, VW's site says roughly £315 a month x 35, leaving just under £10k at the end.
Click to expand...

So £14,340 plus the GAP insurance for three years driving a 'rocco',

I'll save you money you can have my Mazda 6 for three years for £7,170 now then give it back to me or buy it for £1,500.00
 
OP must be trolling here, in terms of stupidity this is only 1 rung below going to Carcraft.

If this is genuine then its an example of how people get into such debt with nothing to show for it in the end.
 
If you still have time to back out of this i would seriously think about doing it.
 
[TW]Fox;16949071 said:
You know we are onto something when Demon agrees :eek:
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Oddly though, I know plenty of people who buy cars on PCP.. I've listened to why they do it, I don't personally agree, but I can 'see' where they are coming from, and just accept it..

E.g. They spend a fixed amount each month for a 'new' car, they give it back every 3 years, and get another new car.. effectively (and as you also point out) they are just long term hiring a new car, they will never have anything to show, but that's not what they are after, they are after a new car every 3 years...

As long as I know they are fully aware in financial terms of what they are doing, and what alternatives for the same monthly outlay are available to them, I don't start telling them they are idiotic, I just realise they have different criteria and priorities to myself.

Cars are a spectacular waste of money, clearly something has to be their to make most people buying a £15K car swallow at least £2K per year for it just being sat there, for some it's having a new car, that only they've owned, for others it's about having car that gives them an adrenaline rush, and for others it may be something different.. A PCP makes the least financial sense, but it 'offers' a new car every 3 years for a fixed monthly amount..

If everyone I knew PCP'd 1 car then never did it again and felt it was a waste of money, I'd feel more strongly about discouraging people, but where I am, and people in work/around me, they do this time after time after time.. I'm happy to drive self financed cars bought with cash, and having gone to large lengths to get the best deals etc, but I see to be more the exception then the rule. Oddly I don't think I'm better then other for this, just different.

It's the same principle for people who just accept their insurance renewal's, I always offer friendly advice in telling them to use confused.com or similar, and give examples of how much I saved, but invariably, some seem happy to be 'stung' by the insurance company. I don't jump down their throat aggressively telling them how stupid they are, and get a right hump on about it, I realise that to them, they'd rather spend the extra for what I see as zero convenience, but that's how they live their lives..
 
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Demon said:
I always offer friendly advice in telling them to use confused.com or similar, and give examples of how much I saved, but invariably, some seem happy to be 'stung' by the insurance company. I don't jump down their throat aggressively telling them how stupid they are, and get a right hump on about it
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god damnit man your letting the side down. If they dont see sense beat it into them with your keyboard.

Its the only way !! :D
 
Someone I know has a reasonable 106 gti paid for in cash, decided she wanted a new car then got a 206 cc brand new on PCP with the whole intention to change every three years, she progressivly changed to older cars until she had a early Audi TT still on a PCP but now with a car supermarket now she's back in a old 206 and the monthly payments are the same as the original 206cc they stung her for mileage / damage / not servicing etc,

Every time she changed she just got given a smaller value to spend which she did, but at least she knows what she is paying every month
 
I don't think we'll see anything else in this thread from OP, i think the monumental mistake he has made has suddenly dawned upon him. I blame the garages as well as the individuals though, they should make it clearer to him what he is entering, considering he went in to buy a car and left renting one instead. Maybe they did though, in which case this makes the OP even more stupid. Maybe he doesn't care though, maybe he's got it into his head that at least he gets to drive a nice (but slow) car around for 3 years.
 
Just a thought but if you are able to cancel would this not have been a better idea:

£15k 5 year loan at 8%, £300 a month.
Buy a car for up to £15k
After 3 years you will have a loan for 6.5k outstanding and (as long as you pick the right car), an asset that is worth a fair amount more.

You can then either continue to pay off the loan, or sell the car and pay off the loan in one go and have cash in your pocket.

Similar principle to PCP but at least you are fully in control, own the car, and can buy anything you like. For example you could buy a 3 year old Golf GTI, which after 6 years old will be worth at least £7k.
 
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Brian: Nice car. What's the retail on one of those?

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Douche in Ferrari: More than you can afford, pal. Ferrari.

too slow, doh!
 
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