[jammy78]

Ordered / signed the paperwork today.... delivery due March!

...... Hopefully get my VW build tracking number in the next day or so!

[AdamC]

These deals are so tempting.
Never liked the idea of leasing but deals like this are making it hard to ignore!

[RCUK]

From what im being told this deal is going to be pulled pretty soon - so if anyone wants one - JUMP now!!

[jammy78]

Originally Posted by RCUK

From what im being told this deal is going to be pulled pretty soon - so if anyone wants one - JUMP now!!

Yeah, I was told that after placing my order!

[dy63]

there will be so many of these cat D and C on the road next year...also we will see many more 1.4 vw golf MK7 with the R kit on

Not going to lie. the deal is too cheap to say no but i do not understand how it works. i am young so i wont be going for it and i do never want to lease or finance a car.

can i ask a question. if you pay £220 a month for the R. you put £2000 down first on deposit.

After the 2 years. do you get your deposit money back of £2000

[Kerr]

You don't get the deposit back.

[dy63]

Originally Posted by Kerr

You don't get the deposit back.

but you give the car back right? lol confused! wat happens after...

[Kerr]

Originally Posted by cupraraj

but you give the car back right? lol confused! wat happens after...

Look at it as a first payment rather than a deposit.

People who buy cars on PCP deals are the same. Pay a deposit, 24/36 months @ £xxx per month, then they have guaranteed future value amount.

Get to the end of the loan period and you don't get your deposit back. It counts towards the amount payable.

Some of the lease deals barely cover depreciation. It keeps monthly payments low and gets people in cars they wouldn't otherwise be able to afford.

[rogerxp]

Its a hire car. You pay monthly for the period you agree to then hand it back. 'Deposit' rightly said should be phrased 'first payment' really. You know what you're getting and for how long without the worry of depreciation (and sometimes no servicing requirements dependant upon service intervals/length of contract).

[dy63]

after adding it up it doesnt really work out a good deal if you dont want a bog standard R without the best extras, for a decent R it will probably be about 8grand for 2 years which is £4000 a year, not worth it at all. i guesss that deposit (first payment) is what does the damage. if there was never a first payment i maybe would of considered one for a weekend motor

[a11y]

It took me time to get my head around the idea of leasing. I only drive 4k miles a year, I don’t set myself a huge monthly car ‘budget’ (my guesstimate is £90/month for my e90 inc everything except fuel), plus I keep cars 3-4yrs+ so leasing isn’t for me.

But I appreciate the advantages for sure, assuming you find the right deal.

If you shop around for a good deal (these Golf R’s being a good example), it’s cheaper to lease than buy a car outright. Will a Golf R bought ‘outright’ depreciate more in 2 yrs than the cost of leasing one for the same period? Quite probably, in this case as residuals on the Golf R will likely be f**ked by ending lease deals flooding the second-hand market in 2 years.

A 3-4yr old Golf R is on my radar as possible option in future so these current cheap leases will hopefully work in my favour...

[gangzoom]

It doesn't matter if your buying through cash/lease/PCP for a new car, you cannot avoid deprecation. The advantage of PCP/lease is that your not tying up a large lump sum into the car compared to buying with cash up front.

I've always found the 'cheapest' way to run a car is buy a 2-3 year old one and keep it till your ready for a change.....Having said that £6-6.5k on finance payments to drive brand new Golf R isn't too bad, your certainly will loss a lot more than that in deprecation over 2 year if bought new.

[jammy78]

A bog standard R is pretty good.... plus no one will see you haven't got leather.... as you'll be gone....

Unless stuck in the M25 traffic each morning!


Leasing/PCP/buying all depends on individuals circumstances.... so for me this is a great deal, for most others it's not!

[gavp]

Ordered one of these, mrs wanted a bigger car than her mini and at under £200/month this is way cheaper than anything else half decent.
Of course could turn out to be too good to be true.

[DanTheManc]

Originally Posted by cupraraj

after adding it up it doesnt really work out a good deal if you dont want a bog standard R without the best extras, for a decent R it will probably be about 8grand for 2 years which is £4000 a year, not worth it at all. i guesss that deposit (first payment) is what does the damage. if there was never a first payment i maybe would of considered one for a weekend motor

Getting into a half decent brand new car is never going to be cheap, but in this instance, leasing is by far the cheapest way of getting into a new Golf R.

[SteveC]

IMO, leasing is the only way to buy a car these days. Why? Several reasons

First, its convenient and takes away any financial risk associated with selling or trading a used car. In a lease, the costs are known and fixed, so no risk....just a known cost.

Second, when you take into consideration the 4.9% apr. available these days, the finance charges are not at all high when you subtract the interest you make on the cash you are able to invest.

Third, it preserves your cash.....always harder to save money than spend it!

Fourth, when manufacturers want to stimulate sales for a particular model they do so via lease deals rather than via huge discounts. That's because they can hide the discount in things like:

• Manufacturer's deposit contribution
• Dealer's deposit contribution
• Subsidized interest rates
• Inflated final values

Do the man-maths on this Golf R deal

£2000 deposit and £220 per month for 23 months equates to £7060, plus GAP insurance £7,250

Take a nett-after-discount £30,000 car and buy it cash. Depreciation after 2 years is going to be around 40% so the car will cost £12,000 for the period, giving you a nett saving on the lease of ca. £4,750 and absolutely no hassle of needing to sell or trade a car at the end of the lease. Just hand it back and you're good to go.

As long as you're getting competitive APRs and negotiating decent discounts even lease deals without large incentives are financially almost as good as buying cash , when you calculate the interest you make on your cash.... and you still get the zero-risk and convenience benefits.

In the UK today, personal or business leasing are the thinking man's ways of buy a car. Its why sales are booming. Just need to remember a few things:

• Don't buy paintwork protection or GAP insurance from your dealer
• Buy GAP insurance on the open market (you need to cover the car's value vs. outstanding credit risk)
• Negotiate everything....price, discount, APR
• Check to make sure you're getting a good guaranteed final value
• Check the additional mileage charges vs. adding the mileage to the lease (if the lease goes up £20 a month for an extra 2000 miles per year and the excess mileage is £0.13 its marginally better to add the mileage to the lease) however, DON'T pay for more miles than you'll need.
• Don't take a lease with high APRs.... money is cheap and you'd just be putting yours into someone else's pocket.

[dy63]

one thing i do not like about some people, i am not slating people who lease cars but, many people who lease the cars do not have money to buy one, yet they lease it which in my opnion doesnt really make it yours and when theyve got it they think they are gods gift and brag to everyone about it when really. you have to give it back soon.

[mowflow]

I couldn't be arsed reading all that post above (sorry steve) but I completely agree.

When you add up the cost of running something sport that's 2 or 3 years old it often adds up to more than £6k over 2 years. That's if you add up the depreciation, tyres, servicing, VED etc as all these are often covered in a lease. It offers exact known monthly costs to run a car, no sleepless nights worrying your clutch is on the way out, no farting about with finding the cheapest dependable garage and no courtesy cars etc.

I had planned to buy used for my next car but even if expected cost is slightly more for a car on lease it's a known and the avoidance of hassle and unexpected costs is worth the small amount more that it may cost.

As for the spec on a Golf R. They come with xenons, lovely half alcantara interior, DAB radio, extended bluetooth, front and rear parking sensors, adaptive cruise etc all as standard. Far from poverty spec. About the only things you might want to add are ACC, nav if you really really must (comes with a nice touch screen media anyway) and of course DSG which is personal preference.

As for leasing one as a weekend car. It's really not a weekend car. It's a very good car but it's not in the toy bracket by any stretch of the imagination. Buy a Westfield or an S1 Ellise, something with a sense of occasion that will not depreciate but would be virtually intolerable on a daily basis. I've seen so many people buy M135i's thinking it would be a weekender only to realise it's a very fast hatchback the same as the golf.

I'm looking to do a deal on a "poverty spec" Golf R this week.

[Kerr]

The main issue with leases and PCP deals is the dealers are now automatically getting far more control of the market. Car values are rising fast as they can control values as so many are always in the control of dealers.

Look at all these other buying services like WBAC that also hoover up loads of cars from hitting the private market.

Just a few years ago if a car retained 50% of its value after 3 years, that was considered pretty good. The German cars were often around 50% and the French cars as bad as 33%.

Look at the market now. Some cars are retaining over 70% of their value after 3 years.

List prices are also shooting through the roof. Do you never see new car prices and think, that's never worth that?

With the odd exception of the rare lease deal, there isn't that often fantastic deals to be had.

However the dealers are controlling the market well enough that if you finance a car through PCP or lease, the losses on paper aren't so bad as the retained value is so artificially high.

I was looking to change before, but there is little value out there.

Car buying is now getting more like house buying. So many people are stuck on the renting ladder it pushes up the values for the people who want to buy.

The only winners are those who are filling their pockets, and that's not the customers.

[mowflow]

Originally Posted by cupraraj

one thing i do not like about some people, i am not slating people who lease cars but, many people who lease the cars do not have money to buy one, yet they lease it which in my opnion doesnt really make it yours and when theyve got it they think they are gods gift and brag to everyone about it when really. you have to give it back soon.

But if they have the money to afford the monthly payments then they can afford it can they not?

I know plenty of well heeled individuals that "rent" their Porsches, Aston Martins, R8s and one who rents a Ferrari. A few of them use private finance companies and get underwritten as high earners. Their view is that there's no point owning an asset with certain depreciation at a completely unknown rate.

I don't get why so many people are obsessed with "owning" their car. However, anyone that brags about a car is a cock no matter what. Cars should be about enjoyment.

[djgandy]

Originally Posted by gangzoom

I do love the man maths here, you've included £1500 for clutch on the 335i which might not happen, also £200 for warranty claims. On the Golf R you mention the need for servicing item (tyres/brakes), but haven't factored them in but have on the 335i.....It's almost identical to the way I workout the sums it justify keeping on spending money on mods for the 335i

The Golf R deals are tempting but if you have a 335i already why would you want to downgrade from a 6 cylinder RWD machine that's often compared to a M3, to a 4 cylinder hot hatch that shares it's genes with a Skoda Fabia

I get the lure of new metal but realistically the only cars I consider to be a step up from my modified 335i are things like a F10 M5/XFR/Tesla S P85, hence as good as the Golf R deals are they just don't interest me.

Someone also mentioned 335i prices have been going up, I find that hard to believe so went on WBAC to check.....and actually it's ture. 8 months ago they WBAC offered £9k for my E90 08 335i, now it's gone up to £9.8k, maybe people have started to catch on just what good value a sub £10k 335i is

Well I did say potential issues :-). My rears are on 3mm too, so they definitely need replacing at lease once to be put on even ground with a brand new car. I expect the R would be far easier on tyres and wont use runflats either so thats money saved too.

Anyway, I held back, because I know I'd regret it. Also in my experience Golf drivers are amongst the worst on the road, by far, probably because they are all 21 years old with a stupidly cheap lease deal!

[Kerr]

Originally Posted by djgandy

Well I did say potential issues :-). My rears are on 3mm too, so they definitely need replacing at lease once to be put on even ground with a brand new car. I expect the R would be far easier on tyres and wont use runflats either so thats money saved too.

Anyway, I held back, because I know I'd regret it. Also in my experience Golf drivers are amongst the worst on the road, by far, probably because they are all 21 years old with a stupidly cheap lease deal!

Tyre wear on the R will be higher. The car will be running FWD most of the time and lots of power through the front wheels means lots of wear.