VW Ocean Finance

Dean Oldfield · Oct 6, 2015

VW have now reduced the APR from 5.9% to 4.9% and reduced all fees from £185 to £10 now.

https://www.volkswagen-vans.co.uk/offers-finance/current-offers/california-ocean

Sounds a good deal now for any one looking for Finance.

treecity · Oct 6, 2015

Nice find! Yet again, good news coming first from this forum!

sidepod · Oct 6, 2015

Blimey!
It's based on the basic list price. Add a few essential options and you'll bump that up to around £54k.
After three years you still owe £24,361. You're limited to 10k miles/year (Unless you pay up)

You'll have paid £11722 deposit. You'll need to pay £24,361 to buy it after three years.
Will a three year old basic (no options) Cali be worth £36083? Negative equity anyone?

Are my maths correct (never a strong point).

I'd hate to hear the bad news!

andyinluton · Oct 6, 2015

It shouldn't be negative equity as you wont still owe £36,030 but "only" £24,361 I would have thought that any 3 year year old cali irrespective of mileage would be worth that.

treecity · Oct 6, 2015

sidepod said:
You're limited to 10k miles/year (Unless you pay up

You can get quoted on higher mileages as well. Doesn't have to be 10K

2into1 · Oct 6, 2015

I guess it is based on whatever price you can negotiate as well, doesn't have to be the full list price does it?
I'm a bit out of date with interest rates but less than 5% with the guarantee of a buy back doesn't seem bad, (although you'd be a fool to accept their £36k buy back, it does no harm to have it in place).

Dean Oldfield · Oct 6, 2015

The mileage only comes into affect if you hand the vehicle back. Part ex or Buying there are no limits in reality. Also the lower the mileage the lower the monthly premium but higher final value. There solutions is very flexible allowing from min £1000 deposit to 30% of price. They will also do terms up to 42 months keep monthly payment low.

You'll currently get 7% ish discount at the moment on final specification if you ask.

Another bonus of their finance is they give you a special servicing deal of £179 + VAT up front for the next 4 services. 4 services are likely to cost £800 so some saving there as well.

4.9% APR isn't the cheapest, a personal loan is around 3.6% but only to a max of £25,000. Re mortgaging is probably the cheapest loan rate you will get if you have to finance. However the VW finance is an easy option and cheap APR for VW.