New or used T6

davefaedeen · Sep 19, 2019

Hello all, new to the club, rented a new T6 4 motion dsg ocean last weekend and loved it!! only thing is the price!!!

so we are now looking to potentially get a 2nd had one......

I am going to be very open, we have a 20k deposit that we can put towards an ocean but the deals we have be offered thus far are terrible, 8-9% apr etc.

any help would be appreciated, would love to know the normal route to finance these vans..... and the average rates/monthlies etc. so we don't get taken for a ride!!!!

thanks hope to be in one soon!!!

teeboy · Sep 19, 2019

Ages ago I did a spreadsheet to compare the options and it is still available on this post: https://vwcaliforniaclub.com/threads/compare-finance-deals.4104/

If I was doing it again. I would:

1 - Purchase nearly new from VW dealer and haggle hard
2 - Take the VW finance for the balance as you will often get a dealer contribution and maybe free services
3 - Cancel the VW finance within 14 day cooling off period and pay it off with either:
a - an extension of your mortgage if you have one and have equity in your house - as this will be cheap and quite quick
b - a whole new remortgage if you own your home as this is the cheapest form of loan - you can get a 5 year mortgage - a mortgage will take a while to process though
c - if a mortgage is not an option then you can get personal loans <3%, the problem here is your personal loan will need to be over £25,000 to get a nearly new van so then the APR goes up to 6 or 7%.

Last time I did it I did 3b

Elmo3 · Sep 19, 2019

Take whatever finance incentives you can get from the dealer, then cancel the agreement. Refinance with the lowest rate debt facility you can. I’m a fan of offset mortgages. Gives you instant liquidity at a very low interest rate with compete flexibility. If you want to go the asset finance route (i.e. secured on the vehicle) speak to a specialist provider (such as Lombard) who will save you thousands of pounds over VWFS at their ridiculous 8 or 9%! Take a variable rate or balanced payments agreement rather than a fixed rate if you want complete flexibility.

Buy one of the last of the new T6’s whilst you can (no additional finance incentives, they’ll give you the same deal for cash). Circa 12 - 15% discount and you can put a 5 year warranty on it. Then you can stop thinking about Calis and just enjoy it.