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New Octavia. Finance decisions

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  • 20-02-2014 12:09am
    #1
    skodacb
    Registered Users Posts: 168 ✭✭


    Hi folks, was in with my local dealer today.
    Looking at the 1.6 Tdi Elegance spec hatchback in rio red, my own car a 08 Octavia 1.4 petrol estate which I would be trading in would be €6,000 so leave's me with €21,380 to finance.

    If I go the PCP route it work's out at €376/month for 36 months with a GFV of €10,500.
    If I the HP route it's €570/month for 48 months.

    I know looking at it the PCP route look's better, however there is a small caveat I discovered if I do more than 60,000km in 3 year's, there is a 5c/km charge. Is there any pitfall's going this route.
    Tagged:


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    #2
    Bpmull
    Closed Accounts Posts: 5,042 ✭✭✭Bpmull


    But after 4 years with hp you own the car. After 3 years Pcp you have nothing. When you consider everything Pcp is rarely cheaper it's just the lower monthly repayments that fool people.


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    #3
    d1234
    Registered Users Posts: 594 ✭✭✭d1234


    Similar thread here http://www.boards.ie/vbulletin/showthread.php?t=2057152012


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    #4
    Odyssey 2005
    Registered Users Posts: 21,065 ✭✭✭✭Odyssey 2005


    skodacb wrote: »
    Hi folks, was in with my local dealer today.
    Looking at the 1.6 Tdi Elegance spec hatchback in rio red, my own car a 08 Octavia 1.4 petrol estate which I would be trading in would be €6,000 so leave's me with €21,380 to finance.

    If I go the PCP route it work's out at €376/month for 36 months with a GFV of €10,500.
    If I the HP route it's €570/month for 48 months.

    I know looking at it the PCP route look's better, however there is a small caveat I discovered if I do more than 60,000km in 3 year's, there is a 5c/km charge. Is there any pitfall's going this route.
    Am too pissed to work it out but €21380 over 48 months seems expensive @ 3.9%.
    I see you are in Waterford,did you get those figures off your local Skoda dealer?
    Pcp would be a waste of your own motor.


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    #5
    skodacb
    Registered Users Posts: 168 ✭✭skodacb


    Odyssey 2005 wrote: »
    Am too pissed to work it out but €21380 over 48 months seems expensive @ 3.9%.
    I see you are in Waterford,did you get those figures off your local Skoda dealer?
    Pcp would be a waste of your own motor.

    Yeah I did, I think HP is calculated at a different rate compared to PCP.


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    #6
    Odyssey 2005
    Registered Users Posts: 21,065 ✭✭✭✭Odyssey 2005


    Thought so.look for a proper hp deal or tip across the border to Tipp. And try there. Don't know what they will offer you on trade in though. I was very disappointed with the way I was treated by your local dealer after years of loyal service when it came to buying a new car on a straight deal in January last.

    Afaik 21300 over 48 months at a rate of 3.9% should be around €480 p/m.
    I am assuming vw bank are still doing this rate..


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    #7
    vandriver
    Registered Users Posts: 3,461 ✭✭✭vandriver


    Hp works out @ 12.5% !!


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    #8
    R.O.R
    Registered Users Posts: 12,684 ✭✭✭✭R.O.R


    Total cost via PCP, to own the car is €24,036 (€376 x 36 + €10,500)

    Total cost via HP, to own the car is €27,360 (€570 x 48)

    Buy via PCP, and stick another €300 a month in a savings account to cover the GFV


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