VW Finance

[Lewis]

Hi everyone,

My first proper post after a lot of watching...I've scoured the forum but found very little in the way of peoples' experiences with VW finance. We're in the market for a Cali in the near future and want to make the most of our time as a young family but wouldn't have the kind of capital to make an outright purchase.

We're happy to bite the bullet and pay the kind of interest that's inevitable as a trade off for quality family time with our young daughter but wondered what kind of experience people have had with the different finance options available?

I'm aware of the PCP and 10 Year Hire Purchase options for retail customers but wondered if the APR rates are fixed across all dealerships in the country? Also one dealership I've come across seems to suggest that PCP is only available for 24months for retail customers whereas I know from experience that that VW retail car buyers can take up to 42months?

The 10yr HP option inevitably has a huge amount of interest over the term so would prefer a 3-4yr PCP and then pay off the balloon with a mix of savings and lower rate loan if the longer PCP is available.

We're torn at the moment between going for a used T5 or a new T6 and the finance options might have an influence on that. Has anyone looking at T6's come across any new finance offers?

Typical newbie with a tonne of questions I know....but looking forward to being part of the community


lewis

 

[Jaydub]

VW commercial can do upto a 42 month PCP. The T5 is available at 4.9% APR with a £750 deposit contribution.You would need to check if the deal is current for a T6.

 

[2into1]

Given the residuals on the Cali, I imagine you need to check any finance solution allows YOU to benefit from them, rather than the Finance Co. It sounds like you have that covered, but wanted to check. At the minimum I'd want the balloon payment to be guaranteed at the outset.

 

[mikeringrose]

Black Horse are good when it comes to financing camper vans. Worth a look. I know as I work for one of BH's competitors.

 

[Chris B]

We went with Nationwide personal loan, lower APR and no early redemption charge if you plan to pay back early as long as you leave 1 months direct debit payment which then will be repaid automatically. VW not interested in giving discount to match the difference and we only wanted short term loan so their loss.

 

[Ajspicer]

We also did the Nationwide personal loan and paid it off early without penalty. Still can't believe we own it outright, happy days.