PCP help

[Adamocean1989]

recently ordered a California on PCP and was quoted 5.5% APR, I’ve just noticed VW have changed the APR on the website to 6.8%! I’m now wondering as I’ve ordered, signed and left at deposit etc at 5.5% will that still stand?

 

[Van Diesel VW]

When did you order before mid November 21 or after this time when price protection was removed.

 

[Mehdime]

My dealer honoured the rate (and VW deposit contribution) offered at the time I signed the contract (4.9% and €2,750 VW deposit contribution when I placed the order vs 5.9% and €0 contribution at the time I picked up the van). But I’m not sure if it was contractual.

 

[Adamocean1989]

Only ordered last month. I guess I’ll have to check with the dealer for clarity.

 

[GrahamB]

recently ordered a California on PCP and was quoted 5.5% APR, I’ve just noticed VW have changed the APR on the website to 6.8%! I’m now wondering as I’ve ordered, signed and left at deposit etc at 5.5% will that still stand?

I think it definitely should stand at the rate you were quoted. There is some degree of flexibility on finance rates, they are not set in stone.

 

[Ch1pbutty]

recently ordered a California on PCP and was quoted 5.5% APR, I’ve just noticed VW have changed the APR on the website to 6.8%! I’m now wondering as I’ve ordered, signed and left at deposit etc at 5.5% will that still stand?

Check the signed contract wording / t&c's.

 

[Sad]

In the past I've had the impression that most dealers are willing to let you choose which finance plan is better for you. They certainly did with us. However I've not heard of the price protection that @TR7_Driver mentions. Is it the vehicle price is no longer protected or the finance deals? Seems mean given the protracted delivery times anyway...

 

[andyinluton]

recently ordered a California on PCP and was quoted 5.5% APR, I’ve just noticed VW have changed the APR on the website to 6.8%! I’m now wondering as I’ve ordered, signed and left at deposit etc at 5.5% will that still stand?

What have you actually signed?
It's normally only the order for the van thats signed up front with any finance being done within a day or two of delivery.

 

[Van Diesel VW]

In the past I've had the impression that most dealers are willing to let you choose which finance plan is better for you. They certainly did with us. However I've not heard of the price protection that @TR7_Driver mentions. Is it the vehicle price is no longer protected or the finance deals? Seems mean given the protracted delivery times anyway...

Price is no longer protected for orders after mid November 21, not sure on the finance deal, will find out one day when my van turns up.

 

[Richi]

We ordered before mid November last year. As my car price was protected as we know to the end of September I wasn’t sure if the APR will be protected as well. Spoke to my dealer few days back and he confirmed that both car price and APR are as same as at the time of order. Nothing change. Might be different now. Not sure.

 

[Adamocean1989]

Just had confirmation from the dealer that the APR will stay at the quoted rate at time of order.

 

[Ozzy Pete]

Wouldn’t it be nice to get 5.5% or even better 6.8% on our savings.

 

[Ch1pbutty]

Wouldn’t it be nice to get 5.5% or even better 6.8% on our savings.

Shouldn't be long!

+ new van lead times should drop off as finance gets more difficult to secure.

 

[Ozzy Pete]

Shouldn't be long!

+ new van lead times should drop off as finance gets more difficult to secure.

It doesn’t appear that either the lead times or interest rates are putting people off. Unless it goes back to the late 70s with rates at 17%. That would make 6.8% look a real bargain

 

[dspuk]

We ordered in July last year and that PCP rate we were quoted then was the one we paid when picking up the Cali in July this year. There are some caveats around price protections, but generally you will be fine. Lots of people get upset on price changes but it’s actually very clear in the signed paperwork - the price can change at any time. It’s an “invitation to buy” - either of you can witdraw from that invitation but the prices may change. That said, in our experience, VW have been very good and our paid price remained the same despite rate changes and two price increases.

 

[The Saint Essex]

When I spoke to the garage last about a potential new Cali (end of last year), they said the APR would be fixed as all they need to do is extend the offer every 3 months (3 months seams to be the normal timeframe the finance is offered for)

 

[Amarillo]

Wouldn’t it be nice to get 5.5% or even better 6.8% on our savings.

Soon after I took my first mortgage out in 1990 interest rates shot up to 15.75%. I think savings rates were about 12.5%, but I had no savings then.

 

[Adamocean1989]

We ordered in July last year and that PCP rate we were quoted then was the one we paid when picking up the Cali in July this year. There are some caveats around price protections, but generally you will be fine. Lots of people get upset on price changes but it’s actually very clear in the signed paperwork - the price can change at any time. It’s an “invitation to buy” - either of you can witdraw from that invitation but the prices may change. That said, in our experience, VW have been very good and our paid price remained the same despite rate changes and two price increases.

Which dealer did you purchase the Cali from?

 

[dspuk]

Which dealer did you purchase the Cali from?

Eurovans Crawley. Had zero issues with them - great all round.

 

[Adamocean1989]

Eurovans Crawley. Had zero issues with them - great all round.

Thats even better to hear as thats who my order is with!

 

[soulstyledevon]

Have you thought about a Personal Loan…?
I’ve just asked for a PCP for our Buzz and the dealer wants 7.2%
I found a loan at 4.8% and gone back to the dealer, to try and negotiate. But they’re not interested.
So I’m going down the PL route…