Goochie

As you will probably know, my Octavia has been playing up a lot lately. It seems that it will require some major work in order for it to see out the next couple of years.

You may also know that I've fallen in love with the new Golf GTi (no, I dont want the Octavia VRS).

The guy offered me £3750 p/x against the Golf then a deal where I pay a low monthly payment for 2 years then a lump sum which, is less than the predicted value of the car at that time.

Insurance on the Golf is just £200 more than the Octavia and I'd save loads of money in repair bills.

I've attached a poll to this thread.

Sensible comments below please, dont try and tell me I dont want the Golf - thats not what this is about

bengie

you know it makes sense

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owner of a skoda octavia 4xvrs3

walkie

Has to be done.

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Having a little break, concentrate on the more important things in life, swmbo and my training.

See you soon folks, take care - James

paxton

buy a furby.....


personally id go for the golf..... But, how old is your Octy? Milage? whats the golf (age, milage) etc etc blaa blaa.

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johnjohnhealy

Dont take the deal on the Golf, lump sum at the end deals are never any good, it may be less than the *predicted* value of the car but you will also have been paying them £200 a month for 2 years. work out the real cost of the vehicle over that period and it probably is more than a straight finance deal.

Take your car to another dealer, dont tell them about its problems and see what you can get in p/x, then demand a decent finance rate, push for 0% it is possible to get it, and make sure there isn't a ballon payment at the end.

So many people get stuck in this trap where they think 'great i'll just save up for the final payment, or keep the money aside' but then some emergency comes up and they have to spend it (florida related emergency for example!). thus when the final payment is due there is no option but to trade in with the same dealer and start another payment schedule.

By all means, go for the Golf its a great car, but you'll get better deals.

Glider

You don't want to get caught up with those options type finance packages, your still left with FA at the end. Pay all that money and you havn't anything to show as you have to get rid of the car to clear the final payment or start again with the next option.
Also if your don't intend keeping the Octy don't throw money at it in the short term.

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johnjohnhealy

I need an option for 'get the Golf, but not with that finance deal'

Shifty

I agree, a pcp as they are known as, sound attractive, but if you calculate the overall cost, they really are not. Unless, you voluntarily terminate the agreement just before the contract ends, and they come and take it away.

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Goochie

Octavia has done 92,000 miles. And in the next 6 months will need:

ARB bushes
Lower arms
Steering arms
Shocks all round
Gear box
Rear wheel bearings
Boost hose leeks found/repaired
Mystery misfires solved
Clutch in 500miles or so
ASR light comes on at random once a week, no fault codes logged.
Starter motor hangs on when cold
Water pump not changed so far - possible failure at any time

Golf GTi - £21000 in the spec I'd want. brand new 3 yr warranty etc.

RobClubley

I say get the golf - it will probably cost more than keeping the Octy and repairing but by the sounds of it you've lost faith in the Skoda - best to get rid and make yourself happy!!

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DGW

I would be looking at replacement options urgently with that list of problems to sort! I would also go the personal loan route for finance since interest rates are quite low right now.

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Denis

2002 Octavia 1.8T 4X4 turbo Estate - rebreathed on by Jabba ... 31.93mpg
2007 Fabia vRS - CC, ESP and full leather trim by Seat Surgeons ...48.57 mpg...

JMK2

Another option

Get a quote for finance from another source (Don't get credit checked)

Go back to the dealer with this quote and ask them to match it.

That is if you want the golf.....

As for the octy - get rid. It WILL go wrong. Just a shame you don't want another one. But there again if you've had a bad experience - understandable I suppose.

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I would like to put something here, but just can't think what

EddyH

Spend the money the repairs would cost trading up to a lower mileage Octavia with a warranty.

I wouldn't recommend any type of finance but if you're really set on the Golf then as others have said don't get it on PCP. It seems cheap but isn't as you are always paying interest on the amount of the balloon payment. You'll pay all that money and be left with less than the equity you have now in the Octavia.

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EddyH

Audi A6 Avant 2.7 TDI
Audi A3 2.0 TDI Sport

heresmo

My only comments would be (a) do a full calculation re the finance side. Some packages are easily sold because they seem to be so attractive, i.e.: Getting over the odds trade-in value now = lower loan to encourage you to take their finance deal. Also, lower early monthly payments mean that interest is being deferred all the time, so that interest will be paid even on the interest in later months...

It's faily easy to set up an amortisation schedule on Excel to show how much extra you'll finish up paying, then use that model to plug in the figures from other sources of finance to compare.

(b) I'm not sure about the significance of credit checks. However, Equifax is one of the biggest (and there are only two or three IIRC) agencies which companies use. You can apply to them for a copy of the information they hold (give out) about you. It costs only a couple of pounds. Interestingly, things like mortgage, gas elec etc are not recorded as they are not credit.

It never hurts to know where you stand. Some people have been refused credit only to find that either there was a mistake (something nothing to do with them), or the finance company itself was not offering credit when it was overstretched.

Good luck
Mo

lozgti

Its horrible having lump sum thing hanging over your head.

Fix your car and be patient.(fatal going and playing with new cars,I always sign for one)

mannyo

Like others have already said, steer clear of the VW finance package. If you must change the car then investigate getting finance from your bank. I did this when I bought the Porsche, and they offered me a far better rate than anything out there at the time. Its important you go to the bank you use rather than another as they have ready access to your account history.

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Manny
2005 Octavia 2.0TDi Elegance combi
my skoda website http://www.octaviars.co.uk

Join the briskoda.net folding team click Here for more info

redbaron

buy the golf.. taked the pcp if its sub 8% apr.


you could always pay slightly larger amount an reduce the balloon further and thus save interest...

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Some times I just feel like smiling.

Stuart_J

Golf 21000, PX 3750, that means you are borrowing 17250 + interest.

there are still a few old shape Vrs's floating around at the dealers for 12000 ish with a warranty. & thats 12000 less whatever you can get for yours PX, keep it for a couple of years & save hard, then buy a Golf with less finance

If you can afford the Golf & you want it then do it, it is a nice car although I believe they are already talking about a higher spec engine for it.

If money is tight its a heck of a lot to borrow however you pay it

Lastly re borrowing the money, do you have a mortgage & is it flexible enough to add amount to over differing periods, if yes borrow the money on the mortgage BUT only over 3 years, it will be cheaper than most other places

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Speed is an addiction for which thankfully there is no cure

steviec

You need to work out the total cost of the deal. What APR they charging? as you can get a load now at 5.6%. So for example borrow £17K over 5 years gives you £324.42 a month paying back a total of £19,465.20 so only £2,465.20 in interest. That is with Cahoot.

But more importantly it gives you better scope to do a deal on the Golf, and don't accept RRP.

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Cheers
Steve
Skoda Octavia vRS 2.0T FSI - Black Magic, 18" Alloys, Dual Zone Climate Control, Jumbo Box, Rear Electric Windows, Xenon Headlights, MaxiDot, Light Assist, Front & Rear Parking Sensors, Rain Sensing Wipers & Dipping Rear View Mirror. Pentagon SupaGlass in Midnight, Parrot 3400LS GPS Bluetooth Car Kit.

greg2302

p/x for the Golf - but surely you can do better than £21k ?

Agree about the finance, cheapest finance is a personal loan, Post Office are doing 5.8% APR atm, you won't find much cheaper. I've borrowed £15k over 3.5 years for about a £385 pcm repayment.

So when the car's paid off in 3.5 years it's still worth over £10k.

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An idiot is somebody who persists in holding their own opinion even after I have enlightened them with mine

mdk1

Go for the Golf if you can afford the repayments, you might find this site helpful
http://www.moneysavingexpert.com/

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Mike.

Mine Skoda Roomster 3 TDI in matallic Anthracite Grey MK**LJK

Swmbo's Skoda Fabia 2.0I Elegance in Dark matallic Blue MK**LJK

CS100000

Nothing unusual then. If mine actually makes it to 92.000 miles I probably would have had the whole car replaced.