Ordered a viper green scirocco!
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![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
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Couple of things I don't understand as I have never even thought of one of these agreements.
GAP insurance on a car that you do not own? How does this work?
Engine choice? Surely it wouldn't have cost a great deal more in this situation to get an engine more suited to the car; I actually like the look of these but would be underwhelmed with the performance.
Does this chappy have a get out clause? He hasn't received the car yet so surely he can get out if he feels that maybe this wasn't the best idea.
Assume he had paid a £3000 deposit, what would the monthly repayments be if he decided to purchase outright? (I am lazy at math).
GAP insurance on a car that you do not own? How does this work?
Engine choice? Surely it wouldn't have cost a great deal more in this situation to get an engine more suited to the car; I actually like the look of these but would be underwhelmed with the performance.
Does this chappy have a get out clause? He hasn't received the car yet so surely he can get out if he feels that maybe this wasn't the best idea.
Assume he had paid a £3000 deposit, what would the monthly repayments be if he decided to purchase outright? (I am lazy at math).
[TW]Fox;16949770 said:
Yeah, so much worse than the 'OMG you've RUINED your LIFE!' brigade.
And what are you on about?! A fairly large part of a 'thrilling debate' is having two sides with opposing views, your view is that he's ruined his life by using a form of finance hundreds and hundreds of other people use while the opposing view is that he hasn't, and that if he is HAPPY then there is nothing wrong with the purchase.
But meh.
lol Vin's wtf look @48 seconds says it all for OP.
Nothing wrong with choice of car aside from engine but financially its a lose.
Now before I get started on this, I need to point out that PCPing a car is not my idea of getting a good deal nor the best car for my money. However, I do see the attractions to some.
Most of us on here, when looking at requirements do not particularly place much standing on things like "newness". However to some people this is something that they do look for. Newer car, lower mileage, in warranty etc. etc. Yes if you are savvy you understand that these things can be managed in other ways like 3rd party warranties, ensuring good service history and condition etc. But while we disagree with the OPs finance method and what he's renting for his money, you must understand that to some a fixed monthly outgoing for a car that will throw up no bills except consumables and servicing (and even that can eb fixed on a new car with certain marques) must have an attraction. You get a relatively hassle free experience. Some people want a fast car, some want a big car. Wanting a new car is not so different, but we don't see it that way because it isn't important to us.
This is the way our society is. Don't save, rent things etc. This isn't particularly new. Credit cards were available in the UK long before in mainland Europe (where they strill aren't as popular). Radio rentals was hiring TVs long ago and now that's been replaced by high interest credit. For what it's worth, provided the OP isn't stretching himself, and doesn't mind being locked in to driving a bottom of the range Scirroco, then he's not doing anything the majority of society does and fair play to him.
Most of us on here, when looking at requirements do not particularly place much standing on things like "newness". However to some people this is something that they do look for. Newer car, lower mileage, in warranty etc. etc. Yes if you are savvy you understand that these things can be managed in other ways like 3rd party warranties, ensuring good service history and condition etc. But while we disagree with the OPs finance method and what he's renting for his money, you must understand that to some a fixed monthly outgoing for a car that will throw up no bills except consumables and servicing (and even that can eb fixed on a new car with certain marques) must have an attraction. You get a relatively hassle free experience. Some people want a fast car, some want a big car. Wanting a new car is not so different, but we don't see it that way because it isn't important to us.
This is the way our society is. Don't save, rent things etc. This isn't particularly new. Credit cards were available in the UK long before in mainland Europe (where they strill aren't as popular). Radio rentals was hiring TVs long ago and now that's been replaced by high interest credit. For what it's worth, provided the OP isn't stretching himself, and doesn't mind being locked in to driving a bottom of the range Scirroco, then he's not doing anything the majority of society does and fair play to him.
The difference being that you totally made the quote of 'OMG you've RUINED your LIFE!' up, whereas people have actually said 'As long as you're happy'.
If he can be dissuaded from this frankly ridiculous deal then people will have done him a massive favour.
Im normally a bit of a "oh well if your happy" person, when its just a few grand that is.
But this is a bit of big waste for not much to show isnt it.
Simple, it covers the difference between the pay out value from the insurer to the purchase price.
say this cost him £19k. Car is wrote off and valued at £15k without it he would have to find the extra £4k, with GAP he doesn't need to worry (as much).
I just feel a bit sorry for him, when he went into the dealer with perfectly good (and sensible) intentions and they have basically bent him over and not used any lube.
It's not a life changing mistake, but one that will probably end up regrettable.
At the end of the day though as long as he's happy paying then that's up to him, but think about it how many people in these forums rent a property then move to another place and have nothing to show for it, this is kind of the same principle, i always hear in in this forum that a poster get's ear bashing someone for buying something they dont agree with, but at the same time everyone does the same thing.
Soldato
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Its the equivalent of pulling an ugly bird at the end of the night, only to wake up sober and scream what have I done when the reality hits home.
The dealer has sweet talked him into thinking its a good deal, why not just take a loan over 5 years, have the same monthly payments and its yours to keep at the end of it.
The dealer has sweet talked him into thinking its a good deal, why not just take a loan over 5 years, have the same monthly payments and its yours to keep at the end of it.
Your still wasting money on something you DONT OWN.
so what it's a 1.4, it's a car that takes you from A-B
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Why are you still emphasising the 1.4 aspect?
If he doesn't want to go fast, are you suggesting it would be better to waste even more money on insurance, fuel and tax, when you're already criticising what he's spent already?
If he doesn't want to go fast, are you suggesting it would be better to waste even more money on insurance, fuel and tax, when you're already criticising what he's spent already?
to rent a house or own a house is a very different situation, ie tens of thousands of pounds to go from one stage to the next
Worst strawman argument ever.
You mean like that 12k Golf he wanted would have been?
Stop digging.
While I hope you enjoy the car and don't come to see it as a massive mistake, it does seem an extraordinary decision. It is costing you significantly more to have a new hatchback with a crippled engine than my 2.5 litre low mileage E61 cost me (and that is mine not someone elses), but each to their own.
A pal of mine who works in asset finance (at the very high capital end of the industry - as in many millions per deal) went for a stupid lease deal because he liked a shiny car a salesman showed him, so it can happen even to the very well informed!
A pal of mine who works in asset finance (at the very high capital end of the industry - as in many millions per deal) went for a stupid lease deal because he liked a shiny car a salesman showed him, so it can happen even to the very well informed!