PCP or Cash?

All Skoda Karoq related discussions
CrunchieCat
Posts: 24
Joined: Fri Jan 12, 2018 11:31 am

Post by CrunchieCat »

I just had a test drive in the Karoq SE L 1.5 Petrol DSG and was very impressed. I'm taking a test-drive in the 1.5 Petrol Edition this week to see how the larger tyres impact on the ride comfort. Has anyone directly compared these two rides?

I told the dealer I'd be P/Exing my current car and paying the balance in cash (I'll cash in some old ISAs) but they said it would be better to take out a PCP deal whereby Skoda pay me £1500 and give me two free services. They said I could then cancel this PCP after just one month, pay the balance off in cash, and only be out of pocket (for the interest) of about £5.

Sounds too good to be true - but is it?

bone_tone
Posts: 43
Joined: Sat Sep 16, 2017 9:39 am

Post by bone_tone »

CrunchieCat wrote: Sun Jan 14, 2018 2:06 pm I just had a test drive in the Karoq SE L 1.5 Petrol DSG and was very impressed. I'm taking a test-drive in the 1.5 Petrol Edition this week to see how the larger tyres impact on the ride comfort. Has anyone directly compared these two rides?

I told the dealer I'd be P/Exing my current car and paying the balance in cash (I'll cash in some old ISAs) but they said it would be better to take out a PCP deal whereby Skoda pay me £1500 and give me two free services. They said I could then cancel this PCP after just one month, pay the balance off in cash, and only be out of pocket (for the interest) of about £5.

Sounds too good to be true - but is it?
I suspect the interest will be more than £5, but I went for the PCP option to take advantage of the deposit contribution and free services. I will clear the PCP in a months time - will still be a better deal than paying cash.

Like you, I part-exed, as I didn't want the hassle of trying to sell privately, and the dealer did give me a good price for it.
Skoda Karoq 1.5TSI SE L Capuccino Beige
Johnmdfi
Posts: 5
Joined: Tue Jan 23, 2018 10:24 pm

Post by Johnmdfi »

A friend did this with a new Tiguan. He saved lots of interest and was satisfied.
Womanofkent
Posts: 115
Joined: Tue Jan 23, 2018 7:54 pm

Post by Womanofkent »

Husband told today that he would need to keep the pcp for 6 months to qualify for the free servicing, then pay off in full, he was specifically told if he paid off within a month which he could do he would forfeit the service plan. Be interested to hear if anyone else has been told this.
Karoq 1.5 TSI DSG Edition, Quartz Grey, towbar, heated windscreen and nozzles since 1 Feb 2018 new to the Skoda brand
CrunchieCat
Posts: 24
Joined: Fri Jan 12, 2018 11:31 am

Post by CrunchieCat »

The Skoda dealer said I could cancel after the first month and still take advantage of the 2 free services. I'll make sure I study all the small print when I get the car and the agreement starts.
Grumpy
Posts: 33
Joined: Thu Mar 08, 2018 4:23 pm

Post by Grumpy »

We did it and cancelled no problem but were told that to avoid issues you should cancel within the (legally mandated) 14 day 'cooling off' period. Only difficulty was the time on hold to talk to Skoda finance - about 10 mins but you can do it on their web site.
Grumpy. Karoq 1.0L SE in Business Grey previous Yeti owner
CrunchieCat
Posts: 24
Joined: Fri Jan 12, 2018 11:31 am

Post by CrunchieCat »

Grumpy - did you still get to keep the two free services? How soon after collecting the car did you cancel? Thanks.
Womanofkent
Posts: 115
Joined: Tue Jan 23, 2018 7:54 pm

Post by Womanofkent »

When we collected the car and signed the documents the free service vouchers were printed off at that time and we spoke to Skoda finance before cancelling and they said that the services weren't affected.
Karoq 1.5 TSI DSG Edition, Quartz Grey, towbar, heated windscreen and nozzles since 1 Feb 2018 new to the Skoda brand
CrunchieCat
Posts: 24
Joined: Fri Jan 12, 2018 11:31 am

Post by CrunchieCat »

Thank you Womanofkent :-)
openside
Posts: 2
Joined: Thu Apr 26, 2018 7:26 am

Post by openside »

This question can't be answered until you have negotiated a deal for cash. How much discount can you get from the dealer? We were pretty happy with the deal we cut and so paid cash.
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