PCP coming to an end...decisions

[Buck]

So the 4 year PCP ends in March so I thought I’d better start thinking about what to do next step

The GFV is surprisingly going to give me little or nothing towards a new car - not sure if this is the A5 not holding value or the salesman at the time pumping this up to make my deal seem better?

So, do I keep the A5 or change it for another? It’s in great condition, well looked after etc. A new one (yes, I’d have another!) is much more expensive (am I getting old or have prices shot up?!) on the total price/monthly payments and will I feel the benefit I wonder? Even leases are expensive - no offers that I’ve found yet.

anyway, enough rambling. Anybody else in a similar situation and what are you thinking/doing?

 

[S32B]

My pcp deal ran out in October, there was/is nothing around that I fancy and another A5 as you say came in at a lot more than I had been paying for this one! even using the same term/deposit/discount etc.

I got a few quotes for my car directly from garages and https://www.arnoldclark.com/sell-my-car for them just to buy it. All the prices they gave me were above what I owed on the car, so basically I bought it off Audi finance at below trade price. I've put an mot, service and extended warranty on it so I'm happy to keep it for the time being. This month was the first month that no payment for the car came out, it was a good feeling having a nice car and nothing coming out of the bank Yes I took a hit on the savings, but the interest on savings is lower than the interest rate on a pcp anyway!!! So now the money is sitting on the drive rather than in the bank!

Few cars coming out next year that may get me to change...new i30 N performance and the GR86. What ever I go for next time I'll be looking to keep it for 5 years, changing cars every 3-4 years is too expensive, especially with the miles I do, I'm on 9,500 after 37 months!!! Yet I sold the S3 after 30 months with 17,500 on it, that was a car I'd just go out in for a blast/fun

EDIT* Just been on that site, prices have dropped since last month!

 

[Buck]

That’s similar to my thinking.

if I pay it off then that’s a hit on the savings but over say 2/3 more years I’ll be better off.

my thinking is also that I know the car and it’s not had any faults or real gripes so if I buy it (admittedly I may take a hit by settling at the GFV but when I look on Audi Used, they are selling similar cars for more so it’s not as if I can hand it back and buy a similar car for less!)

I like the idea of buying it then having the freedom to go out and get another via PCP, lease etc when I find a new car that I want and is a realistic cost to me.

I do think the pandemic has softened the market as there wil be less demand due to less need from homeworkers plus so much uncertainty due to the impact on the economy and personal financial situations.

 

[HMG1K]

Definitely the A5 not keeping its value as since you bought it there's been the 2018 new model (B9) and this year's nip and tuck of that model, the (B9. 5).

Personally, PCP wasn't for me and many not for others. I did mange to buy my Jaguar XF R-Sport back in 2018 after a four year PCP and resell it to the trade for a £1,900 profit and six months of 'free driving' whilst waiting for my PCH A5.

One thing to consider is why get a new car on a four year PCP when, in the case of an Audi, you are driving around for a year with a car out of warranty and risk big bills in that final year.

Consider a PCH. I got my 2020MY face-lift A5 Sportback S-Line with metallic paint for £292 a month on a 3+23 deal when VW Finance had around 20 cars on offer direct via their dealers back in June. I tool delivery in August. Hunt around and if PCH is for you, there are bargains to be had but you have to be very fast!

 

[S32B]

when I look on Audi Used, they are selling similar cars for more so it’s not as if I can hand it back and buy a similar car for less!

I like the idea of buying it then having the freedom to go out and get another via PCP, lease etc when I find a new car that I want and is a realistic cost to me.

I do think the pandemic has softened the market as there wil be less demand due to less need from homeworkers plus so much uncertainty due to the impact on the economy and personal financial situations.

lol I did the same, looked all over Auto trader and other places and the same car as mine with the same mileage/spec was at least £2,000 more than what I could buy mine for. Seven weeks after buying it prices have dropped but the closest to mine is still £1,000 more than I paid.

I was looking to go down the lease route but C-19 messed that up, they couldn't say for 100% that I'd get what I want for when this was due to go back. I couldn't take the chance of handing my car back and not having a car. I then looked at downsizing to a Fiesta ST3, but during lockdown the price went up twice! Went from around £290pm to £340pm on a pcp!!!

As you say if it's your car 100% you can switch exactly when it suits you. Plus if you were to come out of work it's X amount less in your savings, a mate of mine was made unemployed due to C-19, because he has over £16k in his bank he gets no help! if he had less he'd get universal credit...so on that side of things it's better to be cash poor and asset rich!

No matter what you do cars will always lose you money! Another mate is looking at the new VW Tiguan, R-line 1.5 auto, he said they work out OK on a PCP as they hold their value well, just looked at the text he sent me: After discount £27,500 and with £1k off him it comes in at £346 over 48 months on pcp with a final price of £14,700. So man maths says get it on a pcp (to get all their contributions) for £27,500 buy it asap and then if it is worth £14,700 after 48 months it's cost him £12,800 over 48 months = £266 month

 

[Buck]

@HMG1K

Mine is the B9 but it was launch model and as you say the tweaked B9.5 is here now.

My view re year 4 was that if the car was good until year 3 then the 4th was likely to be OK too andI had the warranty extension option as well so was a measured risk. The car has only needed consumables and planned services i.e 2 services and one gearbox service plus brakes.

I've been looking at PCHs as I read your post a while back but there doesn't seem to be any good deals at the minute. I did see an A4 Avant S Line Quattro at £195+VAT per month but they wouldn't deal private - it was a business only deal

Did you just go on the VWFS website to find the deal or did you find it elsewhere?
https://www.volkswagen.co.uk/offers-and-finance/business-car-leasing/lease-directly-from-volkswagen

Thanks

 

[Buck]

lol I did the same, looked all over Auto trader and other places and the same car as mine with the same mileage/spec was at least £2,000 more than what I could buy mine for. Seven weeks after buying it prices have dropped but the closest to mine is still £1,000 more than I paid.

I was looking to go down the lease route but C-19 messed that up, they couldn't say for 100% that I'd get what I want for when this was due to go back. I couldn't take the chance of handing my car back and not having a car. I then looked at downsizing to a Fiesta ST3, but during lockdown the price went up twice! Went from around £290pm to £340pm on a pcp!!!

As you say if it's your car 100% you can switch exactly when it suits you. Plus if you were to come out of work it's X amount less in your savings, a mate of mine was made unemployed due to C-19, because he has over £16k in his bank he gets no help! if he had less he'd get universal credit...so on that side of things it's better to be cash poor and asset rich!

No matter what you do cars will always lose you money! Another mate is looking at the new VW Tiguan, R-line 1.5 auto, he said they work out OK on a PCP as they hold their value well, just looked at the text he sent me: After discount £27,500 and with £1k off him it comes in at £346 over 48 months on pcp with a final price of £14,700. So man maths says get it on a pcp (to get all their contributions) for £27,500 buy it asap and then if it is worth £14,700 after 48 months it's cost him £12,800 over 48 months = £266 month

You definitely don't buy a normal car to make money - that's for sure - but if we can minimise the cost for a nice one, all the better!

I looked at a Volvo (friend has the XC90 which is a lovely car) - some of theirs are on a 0% interest and carlow offer £10,000+ off list at present but I'm not sure I could switch to a Volvo (I'm not that old) and I do like Audi so difficult to move away!

 

[S32B]

I looked at a Volvo (friend has the XC90 which is a lovely car) - some of theirs are on a 0% interest and carlow offer £10,000+ off list at present but I'm not sure I could switch to a Volvo (I'm not that old) and I do like Audi so difficult to move away!

lol I think the smaller XC40 is a nice looking car tbh.

 

[HMG1K]

@HMG1K

Mine is the B9 but it was launch model and as you say the tweaked B9.5 is here now.

My view re year 4 was that if the car was good until year 3 then the 4th was likely to be OK too andI had the warranty extension option as well so was a measured risk. The car has only needed consumables and planned services i.e 2 services and one gearbox service plus brakes.

I've been looking at PCHs as I read your post a while back but there doesn't seem to be any good deals at the minute. I did see an A4 Avant S Line Quattro at £195+VAT per month but they wouldn't deal private - it was a business only deal

Did you just go on the VWFS website to find the deal or did you find it elsewhere?
https://www.volkswagen.co.uk/offers-and-finance/business-car-leasing/lease-directly-from-volkswagen

Thanks

Never bother with the VW group websites, unless you've bagged a bargain and want to bask in what you saved! Mine, for example, was going for circa £600 a month on a 3+23 in June. I daily read the Pistonheads leasing forum. In the end it was a chance look and form full out on What Car that bagged me my deal via Huddersfield Audi. No broker fee, delivered from Huddersfield to London. The deal beat any broker at the time and Audi's own website.

My other half is getting her A4 Avant S-Line next week on a 3+23 I found for her at the end of April for £257 a month. Bargains may be tight now, but they have been since Covid. Its all about looking at all the broker sites, the forums, and places like What Car (that I never thought would come up trumps!) I loved my B9 A5 but never thought I'd be able to afford to get into a newer model, let alone cheaper than the one I had at £305. To get it for £292 with metallic paint this time on the same 3+23 I thought was impossible.

Moral of this story, keep looking and looking several times a day and never give up!

 

[Buck]

Huddersfield Audi is my local dealer!

I’ll take a look at pistonheads and WhatCarnow that I’m starting to look with interest.

cheers for the advice.

 

[HMG1K]

My pleasure! Look, look again and look a tenth time! I did daily or at the start, middle and end of each day. With my A5 there were just 20 available, all in metallic, as they had been built and sitting at the port in Germany ready for launch back in April.

Give Michael Brook a call at Huddersfield Audi, lovely guy and a far far better service than I would have got from a stuck up London dealership.

By the way, whichever dealer you try, and try UK wide via the phone - always go via their fleet department. Fleet departments have different and seperate targets than retail sales and offer different and better discounts.

 

[Buck]

Thanks - good advice

 

[Benji315]

Seems like you had the same situation as me mate, mine currently owes £20k on the PCP but the value is so low even on small mileage - 23,000 miles on a 2.0 TDI S Line edition is getting me back offers of around £16k which puts me £4k in the negative.

Sounds like the deal was way too good to be true at the time it seems.

 

[S32B]

Seems like you had the same situation as me mate, mine currently owes £20k on the PCP but the value is so low even on small mileage - 23,000 miles on a 2.0 TDI S Line edition is getting me back offers of around £16k which puts me £4k in the negative.

Sounds like the deal was way too good to be true at the time it seems.

How old is it? Toyota offered me £20,500 less than 2 months back for my 67 plate petrol s-line with 9,000 on the clock. That was the top CAP price on his screen, middle was around £19,700 and bottom £19k...that was before we even talked about buying anything from him! I owed just under £18,900 so bought it. Can't find anything the same for under £20k today.

Slightly less miles than mine but zero options £22k https://www.autotrader.co.uk/car-details/202009304380590?

*Just looked, diesels seem to be taking a bigger hit!

 

[Buck]

Seems like you had the same situation as me mate, mine currently owes £20k on the PCP but the value is so low even on small mileage - 23,000 miles on a 2.0 TDI S Line edition is getting me back offers of around £16k which puts me £4k in the negative.

Sounds like the deal was way too good to be true at the time it seems.

have you decided what you are doing?

I’ve seen a pre ref A5 at a good price so was going to use that as a benchmark and see what they would give for mine “on paper” and see if it is above the GFV or not.
I suspect they will offer to clear the finance and no more but we will see.

I’ve never handed a PCP car back before. I wonder how painful/painless it is.

 

[HMG1K]

Have you considered selling your car privately to the trade? I had a 2014 Jaguar XF R-Sport that came to the end of its four year PCP in 2018. For a £38k car I was offered £14k to buy it. It was in mint condition. I bought it to flip it. Looking at the top end main dealer price at the time against the top end non-franchise dealer price it gave me a figure between £17k to £22k.

I used Wizzle. Free to advertise your car and it is packed full of main dealers and non-franchise dealers (not that you would know but the trade use it to buy cars). Filled in the details on the automated system, added any damage and scrapes (there weren't any), added my photos and job done.

I was asking £15.500. Yes, I had several offers from chancers of £11k, £10k... but one non franchise dealer came in on my asking price. Quick chat on the phone, he had already run my plate through his system and saw it was clear of any finance, etc. His business partner came down to London two days later, looked at the car for 60 seconds, called his partmer back and ping! £15,500 in my account!

This non-franchise dealer later sold the car a week later for £17,500 (or at least it was advertised for that).

 

[Buck]

That’s part of my plan - see what prices are available outside Audi.

I’ve not tried Wizzle before but have looked at WBAC and Evans Halshaw.

It would be nice if I can clear the GFV plus a small amount over to go towards the next car.

I can’t see any decent leases at present. Had a quote from Audi Huddersfield which was c£400 on 6+35 and 10,000 miles on a non Quattro 35 TFSi S-line auto (metallic paint will be extra)

 

[HMG1K]

Yeah, forget all those! They, like We Buy Any Car (owned by BCA, British Car Auctions), give you a handsome online figure. You go there and they kick a tyre here, run there finger down there - and by the time they have finished your car is down £££ thousands! They get you in, know you've come THIS far in the process and know you are desperate... if you don't agree there and then, they know you will be back for the 'deal'!

Try Wizzle! https://www.wizzle.co.uk/

 

[Buck]

I’ve just had a quick look on there at lunchtime and they’ve given a first indication of £16,965. Audi want £18,216.


I’ll need to take some photos to add to Wizzle this weekend and we if that increases any offers.

I have a couple of scuffs on the rear bumper from someone reversing into me so not sure if that will be a great impact on the price (as you say WBAC are notorious for dropping their initial offer down for every little thing)

 

[HMG1K]

From the condition of your vehicle, an on honest self-appraisal - look at the pricing on Parkers, What Car, eBay, Auto Trader, main dealers (based on your spec and extras) - and take a top end of each of those franchise, non-franchise, private sellers and compare to the trade in value. See what comes back with those figures against what you would like to achieve in £... and see what the numbers say.

Keep in mind that a curbed wheel at customer level is circa £100 - £150 per corner, to a main dealer that is £25 per corner (simply down to the volume of business they give their local mobile wheel refurb guy. Likewise with scuffs, a lot cheaper in the trade. Keep in mind a main dealer will throw in warranties and the like so that bumps up their costs, but cheaper than a non-franchise dealer who will do the same but at a higher cost to themseleves.

What you want to end up with is you getting what you need financially and bit more - while giving enough of a profit to whoever buys in the trade.

Be prepared to get silly cheap offers by chancers, but at the same time hold firm

 

[S32B]

I’ve just had a quick look on there at lunchtime and they’ve given a first indication of £16,965. Audi want £18,216.

Also remember that a dealer will add at least 10% to the price they give you before they sell it! So if you are getting offered £16,965 + their 10% = £18,661 at least to buy your car from a dealer!

I tried mine on Wizzle and got some half decent offers along with some insult offers! I then got a call from a guy that buys for Audi dealerships (he'd seen my add on Wizzle)...he offered me £19k, I said I want more...he put me on the spot and asked how much more....I gave a quick £19.5 and the next day he said yeah OK but they want the car this week!!! I took his number if you want to deal with him direct? Really nice guy.

 

[S32B]

Be prepared to get silly cheap offers by chancers, but at the same time hold firm

When I sold my 2.5 year old S3 with 17,500 on the clock I had one dealer phone me and said he will come and collect the car today, do a bank transfer and make sure I had the money in my bank before he went...I said what is your offer? He came back with£10,000 You can imagine what I said Sold it for £20,500 to a specialist...he got a good deal as well

The add he put up is still on the net...like I'd let this go for £10k https://www.ctcsportscars.co.uk/vehicle-details/Audi-A3-U602/

 

[Audi Bairn]

I’ve never handed a PCP car back before. I wonder how painful/painless it is.

Will tell you tomorrow. The wife’s TT is being inspected / collected in the morning.
We looked at WBAC but they said they’re not dealing in “higher end” cars like hers currently as they’re not shifting quickly and wouldn’t insult us with a silly offer, therefore they’re mainly buying lower end / older cars.

 

[HMG1K]

Yeah, chances! But it must work 1% of the time. In fairness, when I sold the XF the trader did offer me £2k below when he rang me and when I said "no" and he said how much will you let it go for, I said "at the advertised price", he agreed! Haha Turns out they also bagged a metallic blue XF of the same spec and colour that day and thought my white one would look lovely together

 

[Buck]

Will tell you tomorrow. The wife’s TT is being inspected / collected in the morning.
We looked at WBAC but they said they’re not dealing in “higher end” cars like hers currently as they’re not shifting quickly and wouldn’t insult us with a silly offer, therefore they’re mainly buying lower end / older cars.

How did it go? Hopefully painless !

 

[Buck]

Also remember that a dealer will add at least 10% to the price they give you before they sell it! So if you are getting offered £16,965 + their 10% = £18,661 at least to buy your car from a dealer!

I tried mine on Wizzle and got some half decent offers along with some insult offers! I then got a call from a guy that buys for Audi dealerships (he'd seen my add on Wizzle)...he offered me £19k, I said I want more...he put me on the spot and asked how much more....I gave a quick £19.5 and the next day he said yeah OK but they want the car this week!!! I took his number if you want to deal with him direct? Really nice guy.

thanks - I may take you up on that offer - if you can PM me? I'm still deciding whether to go for a lease (challenge there is availability on an A5 is going to be Feb/March from initial discussions with my local Audi Fleet Manager @ the dealers) or go for a nearly new one.

I agree with you re pricing - I've always worked on the dealer having £2k+ in any car to make it worth their while.

The one I like (Black Edition 1 70 Reg with <200 miles) is a significant saving so it will be a case of seeing how the numbers play out on this and then deciding if I want to end my PCP a couple of months early and get into a new car sooner rather than later. It might be more attractive to take their PCP then paying it off in the cooling off period but then the total risk of the car sits with me - risk and reward eh?!

 

[Buck]

Yeah, chances! But it must work 1% of the time. In fairness, when I sold the XF the trader did offer me £2k below when he rang me and when I said "no" and he said how much will you let it go for, I said "at the advertised price", he agreed! Haha Turns out they also bagged a metallic blue XF of the same spec and colour that day and thought my white one would look lovely together

A big part is knowing what the car is worth to you (realistically) and then being confident to say no.

 

[Audi Bairn]

How did it go? Hopefully painless !

Very smoothly.
They text to confirm a time the night before.
Guy said he was delighted when he pulled in as he said he could see it was minted and would be an easy job.
Two wheels have white worm, one of which had also been kerbed recently.
He said it choked him to flag the wheels as an issue as the car was spotless otherwise but he was only doing his job.
We’re contesting one wheel as white worm is a manufacturing defect not damage. The other wheel, fair enough as it was kerbed.
The potential cost is £36 per wheel, still a lot less than I expected even for one kerbed wheel.
V5 section to be returned, insurance cancelled and refund on Road Fund Licence and breakdown cover.
Overall, very straightforward.

 

[Buck]

That’s good news! How much earlier did you return it?

what car is replacing the TT?

 

[Audi Bairn]

That’s good news! How much earlier did you return it?

what car is replacing the TT?

It was at the end of its 4 year PCP.
She’s getting an M135i
https://www.audi-sport.net/xf/threads/ab’s-wifes-storm-bay-m135i.421980/

 

[Buck]

Well the TT was a cracker and the BMW will be too! Hopefully the wait won’t be long!

 

[Audi Bairn]

Well the TT was a cracker and the BMW will be too! Hopefully the wait won’t be long!

Thanks very much, I think we’re looking at Jan / Feb but we’ll see

 

[NevMan]

Very smoothly.
They text to confirm a time the night before.
Guy said he was delighted when he pulled in as he said he could see it was minted and would be an easy job.
Two wheels have white worm, one of which had also been kerbed recently.
He said it choked him to flag the wheels as an issue as the car was spotless otherwise but he was only doing his job.
We’re contesting one wheel as white worm is a manufacturing defect not damage. The other wheel, fair enough as it was kerbed.
The potential cost is £36 per wheel, still a lot less than I expected even for one kerbed wheel.
V5 section to be returned, insurance cancelled and refund on Road Fund Licence and breakdown cover.
Overall, very straightforward.

Good to hear went well Brian, but taking the mickey with the white worm wheel!

 

[NevMan]

thanks - I may take you up on that offer - if you can PM me? I'm still deciding whether to go for a lease (challenge there is availability on an A5 is going to be Feb/March from initial discussions with my local Audi Fleet Manager @ the dealers) or go for a nearly new one.

I agree with you re pricing - I've always worked on the dealer having £2k+ in any car to make it worth their while.

The one I like (Black Edition 1 70 Reg with <200 miles) is a significant saving so it will be a case of seeing how the numbers play out on this and then deciding if I want to end my PCP a couple of months early and get into a new car sooner rather than later. It might be more attractive to take their PCP then paying it off in the cooling off period but then the total risk of the car sits with me - risk and reward eh?!

Mate, worth trying these guys:

https://www.jksc.co.uk/

They bought my wife’s JCW, but that was actually via motorway.co.uk who charge them for the privilege, so he said in future go direct.

Andy Barnard is a top bloke, assuming you are happy with price he offers, comes down and checks car over (word of warning , he uses paint depth gauge so any paint repairs including smart will be picked up and he then walks away)

Then logs on, settles any finance, pays you the difference, does the DVLA stuff online and drives off.

 

[Audi Bairn]

Good to hear went well Brian, but taking the mickey with the white worm wheel!

Yeah, the guy was a bit mortified, given the A1 condition of the car otherwise.
He said white worm wasn’t flagged as an issue until recently but Audi Finance (and possibly other brands) insist they record it now. A little money maker for them from an issue that’s a manufacturing defect, not caused by the “owner” of the car.
Still, I expected £100 to £150 for the kerbed wheel so still less than that.

 

[BarryG79]

Yeah, the guy was a bit mortified, given the A1 condition of the car otherwise.
He said white worm wasn’t flagged as an issue until recently but Audi Finance (and possibly other brands) insist they record it now. A little money maker for them from an issue that’s a manufacturing defect, not caused by the “owner” of the car.
Still, I expected £100 to £150 for the kerbed wheel so still less than that.

I’m sure Audi/VW finance are one of the cheapest for charges and especially wheels. £125 for diamond cut refurb with my last lease company, luckily mine where minted.


Sent from my iPhone using Tapatalk

 

[NevMan]

I’m sure Audi/VW finance are one of the cheapest for charges and especially wheels. £125 for diamond cut refurb with my last lease company, luckily mine where minted.


Sent from my iPhone using Tapatalk

And £125 for diamond cut refurb more or less the going rate. I know you may get it done cheaper, but I know platinum wheels (who I have used before) do a proper job stripping right back charge around that

 

[S32B]

thanks - I may take you up on that offer - if you can PM me? I'm still deciding whether to go for a lease (challenge there is availability on an A5 is going to be Feb/March from initial discussions with my local Audi Fleet Manager @ the dealers) or go for a nearly new one.

I agree with you re pricing - I've always worked on the dealer having £2k+ in any car to make it worth their while.

The one I like (Black Edition 1 70 Reg with <200 miles) is a significant saving so it will be a case of seeing how the numbers play out on this and then deciding if I want to end my PCP a couple of months early and get into a new car sooner rather than later. It might be more attractive to take their PCP then paying it off in the cooling off period but then the total risk of the car sits with me - risk and reward eh?!

PM sent.

Yeah I've seen a few pre reg deals that look good. I've been told in the past from Audi that if you are getting another Audi via PCP sometimes they let you end the current deal early! May be worth asking!!!

Just remember if you don't do anything they will take the full final amount/payment out of your bank on your last day of the contract!

 

[HMG1K]

VW Financial Services are as flexible as an Olympic gymnast!

If you order another car funded via VWFS (it must be the same brand as you had, so Audi for an Audi not an Audi for a VW), it will accommodate you. It simply needs the order number.

Also, if you have a VWFS funded car (again brand for brand, not jumping sub brands as above), then it gives you a loyalty discount within 12 months of exiting the deal. Ask the dealer or broker. For this you just need the registration number of the car VWFS funded

 

[S32B]

if you have a VWFS funded car (again brand for brand, not jumping sub brands as above), then it gives you a loyalty discount within 12 months of exiting the deal. Ask the dealer or broker. For this you just need the registration number of the car VWFS funded

Is that a loyalty discount on the price of the car or a lower APR%?