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Hi

I’ve had my car for a year now. It’s a standard SE model. I really do like the GTI.

Does anyone know whether I can do an early upgrade.

How much I’m gonna be paying per month, will I need to pay any money upfront ect

I’m paying 240pm, it’s a pcp finance.

Thanks


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zdenek_kalok wrote: Wed May 01, 2019 8:58 pm Hi

I’ve had my car for a year now. It’s a standard SE model. I really do like the GTI.

Does anyone know whether I can do an early upgrade.

How much I’m gonna be paying per month, will I need to pay any money upfront ect

I’m paying 240pm, it’s a pcp finance.

Thanks


Sent from my iPhone using Tapatalk

You can upgrade, but it will cost you dearly this early into the PCP. If you get a good deal on your GTI+ (£20.5k, Drive the Deal sized broker discount), they will ream you for the SE - expect a valuation of no more than £11k on it, and how much have you paid off the finance? That'll depend on the level of discount you got, and wheat deposit you put down yourself. At £240pm,
you've paid £2880 (plus whatever deposit you have put down), but there's about £1000 interest in that, so you've only paid about £1900 capital off, not including any deposit.


On the finance calculator, for the bottom spec 80ps SE (maybe you have the 95ps model?), you'll have put about £2600 down and be paying £200pm on 35 or 47 months. The 95ps SE is only £7 a month more. I'm assuming you're paying £33 or £40 a month more than that because you either didn't have much of a deposit, or you dipped into the options a bit.

If you still owe £13k in capital, but only have a valuation of £11k, you'll be paying the cost of the GTI+ and having to find that £2k. There are ways to make it look like you're losing nothing e.g. maybe you could've negotiated £2k off the list price in discount on the GTI+, but instead the dealer juggles the figures so that the £2k shortfall is cancelled out by that £2k discount on the new one - so it's like you are starting from scratch by buying a new GTI+ with no discount and no debt from the SE.


Of course, getting a GTI+ on a fresh order might take 9 months, so you will end up in a better level of equity when the GTI+ is finally ready. P/X value for a 1 year old car and a 2 year old car is very small, most of the depreciation suffered is in year 1, year 2 is much less steep.

Simple advice is to speak to your dealer.
Provided they're keeping your business, which they would be, they'll usually be able to juggle PCP and get you into a new car.
My Nissan Leaf dealer repeatedly called me offering to get me into a newer Leaf long before my PCP deal was due, but I never took them up on it.
Of course, it helped that there's a huge market for used Leafs and they'd shift mine again no problem at all.
Might not be such a healthy market for a used Polo SE.
I'd also ignore VW website finance figures, dealers can do their own PCP deals.
If the VW calculator says the bottom of the range 80PS Polo is £2600 down and £200 per month, my 95PS beats was £999 down and £199 per month from my dealer.

Andy:

The finance calculator is always based on you not negotiating a discount.

For you particular deal, they've parcelled up your discount in the form of lower PCP deposit and slightly lower monthly payments.

For the OP, they're likely to parcel up his/her discount on the GTI to cancel out negative equity on the SE.

There are lots of ways the salespeople can hide debt or discounts, lack of discounts or sneaking in a "free" lifeshine/GAP policy to net them lots of commission if you don't have your wits about you during negotiations.

monkeyhanger wrote: Thu May 02, 2019 10:52 am Andy:

The finance calculator is always based on you not negotiating a discount.

For you particular deal, they've parcelled up your discount in the form of lower PCP deposit and slightly lower monthly payments.

I know what you mean, but I didn't have to negotiate this deal.
So if there was a discount, the dealer must have applied it themselves with no pressure from me.
It was published on their facebook page for all to take advantage of on all three 'Beats' they had in stock.
I agree the dealer will probably do what they can to make the GTi deal happen, perhaps adjusting the GFV to make the monthly payments more acceptable.
That's what Nissan did with my Leaf, when I stubbornly stuck with my "not paying over £200 per month" ethos.

I'm all for this kind of thing. It may well cost a few £££s but if a person really wants a thing and can afford it - then go for it. It's too easy to spend time wondering 'if only' and life is too short for that. Do it is my advice, and enjoy ....

Thanks guys you’ve all helped me [emoji16][emoji16][emoji16] I do appreciate it


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