New t6 150 auto

[Elmo3]

thanks for the warning BJG I have owned over 36 cars now and am very familiar with how PCP works, just never bought a camper van before so was unsure if the deal on offer was good for the van, I managed to get the deal down to 205pcm with a 30% deposit which I am happy with. yes if I were to keep the van over the full 4 year term it would cost me more but I intend to sell it mid year 2/ start of year three where I will theoretically (based on historic prices) get most of my residual deposit back. and the van will have cost £2500per year to own which I think is pretty good considering it costs £375 per weekend to hire....

Of the £205 per month, how much capital are you repaying? I’m guessing most of it will be interest (VW rates are pretty high), in which case you are not funding the depreciation from these payments. This would be funded from your deposit when you sell i.e. don’t expect to get it all back.

 

[Amarillo]

I think I worked out your PCP at ~6.25%.

I pay 2.19% on my rental mortgages. I can’t help but think that you’d be better off extending a mortgage to finance the van, and then you’ll benefit from a 20% tax credit on the interest payments, reducing the effective interest rate to ~1.75%.

 

[calibeach76]

I think I worked out your PCP at ~6.25%.

I pay 2.19% on my rental mortgages. I can’t help but think that you’d be better off extending a mortgage to finance the van, and then you’ll benefit from a 20% tax credit on the interest payments, reducing the effective interest rate to ~1.75%.

Absolutely. Exactly what I would do in this instance and with his 6 properties he shouldn't struggle...! I did exactly this some years ago. Not my idea entirely but I have a good accountant

 

[davefaedeen]

Don't want this to become a slanging match. It was my view. I think you are missing the point. I like many bought a beach as it more readily meets my needs not down to money. Many on here have done the same. Buying a beach is not for the majority a case of buying it because it is cheaper but because it better suits their needs be it space, layout or the reality that trying to cook in something this size and having a tiny sink with only cold water is a waste of money and space. Enjoy.

No slagging,match we both just made an assumption that people who take pcp deals can’t afford vans outright I also made an assumption regarding your purchase of a beach. I didn’t say that I couldn’t afford to buy the van outright just that I didn’t want too!!

I think I worked out your PCP at ~6.25%.

I pay 2.19% on my rental mortgages. I can’t help but think that you’d be better off extending a mortgage to finance the van, and then you’ll benefit from a 20% tax credit on the interest payments, reducing the effective interest rate to ~1.75%.

you are correct but unfortunately the oil crisis in Aberdeen has hit hard and additional borrowing on BTL is difficult, it is very man maths but most car/van purchases are, I didn’t mean to start an argument, at the end of the day we have both made assumptions about each other. I also compete in the Scottish rally championship so am very aware of ‘man’ money losses + justification. What works for one doesn’t work for the other. I do really appreciate all the feedback it’s good food for thought. But at the end of the day we are all making a financial loss on mobile metal, but with the vw Cali, it does seem to minimise this and create hopefully great memories!!!

 

[davefaedeen]

Absolutely. Exactly what I would do in this instance and with his 6 properties he shouldn't struggle...! I did exactly this some years ago. Not my idea entirely but I have a good accountant

So you financed the beach via property equity? I rest my case. We all have different ways to get where we want to be. Insulting people that use pcp to achieve this is.... not very friendly

 

[calibeach76]

So you financed the beach via property equity? I rest my case. We all have different ways to get where we want to be. Insulting people that use pcp to achieve this is.... not very friendly

No not the Beach, that was from my savings, another vehicle I purchased that way a while back on good advice. I dont believe I insulted users of PCP. I have used this method myself in the past and I stand by my comments. In the industry it is not known as Perpetual Car Prison without good reason.

 

[Maxx]

For what it is worth, I recently bought a beach on HP. I am a novice when it comes to Campervan's but I chose the beach for practicality rather than price. I didn't want to haul around a kitchen/wardrobe that I wont be using 90% of the time and preferred the have the space and flexibility. Although the deal is HP, it is pretty much indistinguishable from PCP in my case due to the 'balloon payment'. I did weigh up all of the options for purchase but chose the HP option as this is my first Cali and whilst I am very enthusiastic, I did basically jump in with both feet and therefore I wanted an option that would allow me to negotiate with VW who are more flexible if you finance through them. As soon as I decide if I am going to keep the van long-term or if I (my wife) decide that the Camper-life is not for me, I will pay off the HP and either keep or privately sell the Van...I will pay a little over the odds during my decision-making period, but I am okay with that...I'm quietly hoping that the lack of 6.1 Beach will help with depreciation in the short term too.

 

[oliver100]

I am currently in the market for a Cali at the moment, originally started looking at nearly new beaches, but the figures just don't work out on PCP and ordering a new van is actually more cost effective if this is the financial instrument you are going to use. I think we will end up with a new coast as we have been offered one with 8.5% off list a PCP APR of 4.9% along with a £1000 dealer contribution 4 years servicing, 4 years warranty, first years tax paid (this is a lot!) and 1 MOT. Total cost including interest is much more cost effective than even ex demo beaches that we have been interested in due to the APR amongst other things (we are after a parking heater so that affects the price of beaches for us substantially). Not sure if that's helpful but its what we have learned during our negotiations with various dealers. Even if I was going to pay outright I would still take the PCP deal then settle the lot the day after as its a much better deal than the HP or cash offerings.

 

[calibeach76]

I am currently in the market for a Cali at the moment, originally started looking at nearly new beaches, but the figures just don't work out on PCP and ordering a new van is actually more cost effective if this is the financial instrument you are going to use. I think we will end up with a new coast as we have been offered one with 8.5% off list a PCP APR of 4.9% along with a £1000 dealer contribution 4 years servicing, 4 years warranty, first years tax paid (this is a lot!) and 1 MOT. Total cost including interest is much more cost effective than even ex demo beaches that we have been interested in due to the APR amongst other things (we are after a parking heater so that affects the price of beaches for us substantially). Not sure if that's helpful but its what we have learned during our negotiations with various dealers. Even if I was going to pay outright I would still take the PCP deal then settle the lot the day after as its a much better deal than the HP or cash offerings.

Can 100% agree with that logic. We did exactly this on my Audi Q7. Bought it on PCP, got £14k discount including manufacturers support of about £4k just for using PCP. I then called up and settled the lot before I made the first payment. I could never have got close to this deal for cash. Weird world isn't it?! Using PCP in this way isn't the same as using PCP over a term though. Most dealers will even tell you if you want to go down the PCP route to put the minimal deposit in. The interest is heavily front loaded so if you put a reasonable chunk in you won't ever see that back in any meaningful level no matter how good the residuals.

 

[oliver100]

The thing is even if you don't want to pay upfront and decide to go full term with PCP its still probably better than any other form of financing I can think of other than a secured loan / re-mortgaging which have their own risks. APR on unsecured loans goes through the roof above 25k, and you would need to be a master card tart to finance with 0% cards.

Add to this the uncertainty around future values due to the electric camper being inbound you may be in no worse situation than if you bought the van outright at year 4 as even handing the vehicle back is akin to losing just under 50% its original value which granted does not reflect todays second hand market but this could change rapidly depending on the success of the next model. If the vehicle is worth more then either settle the balloon out of savings / low rate unsecured loan and you have the option to immediately sell if you just want to release money and run or just own it, or trade in with the dealer as long as they don't completely cut you off at the knees with the estimated value.

I'm in a position where I have an air-cooled 911 (993) I have considered selling to buy a Cali outright but I really don't want to swap a currently appreciating asset (which I also love dearly!) for a depreciating Cali (albeit slower than most vehicles).

 

[El Greco]

The thing is even if you don't want to pay upfront and decide to go full term with PCP its still probably better than any other form of financing I can think of other than a secured loan / re-mortgaging which have their own risks. APR on unsecured loans goes through the roof above 25k, and you would need to be a master card tart to finance with 0% cards.

Add to this the uncertainty around future values due to the electric camper being inbound you may be in no worse situation than if you bought the van outright at year 4 as even handing the vehicle back is akin to losing just under 50% its original value which granted does not reflect todays second hand market but this could change rapidly depending on the success of the next model. If the vehicle is worth more then either settle the balloon out of savings / low rate unsecured loan and you have the option to immediately sell if you just want to release money and run or just own it, or trade in with the dealer as long as they don't completely cut you off at the knees with the estimated value.

I'm in a position where I have an air-cooled 911 (993) I have considered selling to buy a Cali outright but I really don't want to swap a currently appreciating asset (which I also love dearly!) for a depreciating Cali (albeit slower than most vehicles).

One is an investment, the other is a way of life - no comparison!!

 

[oliver100]

One is an investment, the other is a way of life - no comparison!!

Haha, the 911 was never intended as an investment, I was just lucky enough to buy one when they were worth considerably less than they are now and have had ten years of enjoyment out of it. I think we can agree on which ever way I decide finance it the camper will be an investment on a way of life