Volkswagen T-Cross Forum banner
1 - 8 of 8 Posts

Registered
VW T-cross SEL 115 DSG 2019 Energetic Orange
Joined
380 Posts
Discussion Starter · #1 ·
Just interested to know what people are likely to do during their PCP term, buy outright, set up trade in deal on a new T Cross, or buy a different car馃
I understand we will be given options towards end of years 2,3 and 4.
 

Super Moderator
Joined
450 Posts
You have the option to settle PCP at any time during your term. You don't have any offers or communications coming from VW finance, if you want a no commitment valuation you just call them, or create an account on their website, log in and request a settlement quote. The quote you get has a discount on the amount owing, and is valid for 30 days, and if you settle but make a payment in between you'll get back the over payment.

PCP is like a mortgage, they calculate the interest on the amount outstanding each month, your payment covers the interest and a portion of the capital. As the capital reduces, so does the monthly interest, so the capital repayment increases.

Me personally I've had several PCP's, traded in an UP! at 2 years old for a Polo, lost around a grand as valuation of UP! was poor and below PCP settlement.

Traded in the Polo just before 3 years for the Cross, trade in was a grand more than PCP settlement on that. (If you are trading in, the dealer can get a settlement value and sort it out so you just deal with them.

Paid off my Tiguan around 3 years direct to VW finance as I wanted to keep it and interest rates were good, so personal loan covered the outstanding value over a further 4 years for the same payment.

I've also read, but not done it myself, that if you hand it back and walk away it goes to BCA car auctions, so there's a way to contact them and get an advanced value to buy it via them at the end so you hang onto the car. I've heard both it's worthwhile and not, but it'd be no harm contacting them if were deciding to keep it.
 

Registered
VW T-cross SEL 115 DSG 2019 Energetic Orange
Joined
380 Posts
Discussion Starter · #3 ·
I got the impression the dealership would probably be in contact with offers to take out a fresh PCP on a new car and sort out settlement of the current PCP at various times after a couple of years onwards.
 

Super Moderator
Joined
450 Posts
Maybe not so much related to PCP, both dealerships I've been involved with do send offers of special sales days, one barely a month after we'd bought the Cross new! It depends whether you're happy with the car or feel the need for upgrading. Me, I'm happy with the Tiguan (it was in the showroom loaded to the eyeballs with extras), but in the 5 years I've had it the misses is on her 3rd car. She's loving the cross now so maybe that'll be it :)
 

Registered
VW T-cross SEL 115 DSG 2019 Energetic Orange
Joined
380 Posts
Discussion Starter · #5 ·
Happy with my T Cross too. If I did change would probably go for Turquoise. Out of curiosity I specced up with the addition of digital dash and reversing camera and that came to 27k!!
On the basis of my current mileage being so low due to the lock down and the increased price will probably just pay the balance at the end of the deal and stick with the car. Unless an offer is too good to refuse. I notice the 1.5 petrol is now available but looking at the issues on the T Roc forum I think steer well clear.
 

Registered
Joined
34 Posts
I paid up PCP inside first month. Got the VW finance deposit contribution and refinanced with a personal loan for full value - much lower rate than vw finance.

I like sound of handing back the car and trading in the value. But PCP was based on minimum 3000 miles/year and I'll do nowhere near that. So I think the trade in value would exceed the settlement price and I'd effectively loose that difference if I choose to go with other than VW next.
 

Registered
Joined
162 Posts
I had paid mine off too, within 2 weeks for a much lower rate. I like the fact that I then own the car, so if I cannot keep up personal loan payments, then I sort that, but the car still would be with me.
 

Registered
Joined
59 Posts
I have had various PCPs for 12 years or so and VW Finance do write to you from time to time and tell you the car has an equity value so it's a good time to trade it in.
 
1 - 8 of 8 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top