Want it, so got to get money for it

[MarkVw2017]

Thank you for all you input and its made me realise i really want a 'cali' -- im already talking the lingo

So could i have some advice on thr best way to pay for such a large investment.



Sonootions are, Loan, dealers or even equity from my house.

£50k plus is a lot of money so anyone have experience of what i should be paying amonth for something of this budget as dont want to pay over the odds with interest? Ive got about £5k saved for a deposit, not much but something. Certainly dont want to got to a dealers blind

Look forward to hearing from you soon

 

[RodCouncil]

Interest is on the increase now but lending is still cheap, you can get super nice chesrished vans on here for much, much less than 50k so just go an shop around for best loan deal.

I'm not into loans, the only one we have is the mortgage so in the end buying new wasn't for us, but we did get close because interest in Sweden is so low.

 

[kurienp]

Remember, you do get a 10 year finance options on a Cali. When you buy a Cali it is usually a keeper and the 10 year finance becomes a viable option.

The lowest I have been able to push a dealer is - a £1000 deposit with approx £810 a month for 120 months. I guess that works to about circa 8% interest rate.

This was with VW finance.

Hope this info helps.

Sent from my SM-G930F using Tapatalk

 

[Lewis]

Prices have increased substantially since we purchased a year ago but we had a 9k deposit and with dealer contribution and discount (+ there was a loyalty bonus kicking around then too) we ended up with a monthly payment of £520 on PCP for a 150 Ocean with a 24k balloon after 42months.

You'll get lots of different views on here about finance options from those who think VW finance is a con through to people willing to take it out over 10yrs. You've just got to decide what works best for you.

Our logic was that the amount each month was only £150ish more a month than we might pay for a nice spec mid range car. Given that we were easily spending the difference and a lot more spread over the year on holidays it seemed like a no-brainer.

The balloon payment can then be re-financed at a competitive rate and will probably mean the whole lot is paid off within about 7-8yrs with APR rates a lot lower than the VW 10yr deal.

Putting into your mortgage is probably the way to get the lowest payments but it wasn't right for us.

Main advantage to us buying new was that there's less chance of having to make monthly payments + maintenance costs.

 

[Kmann]

I took most of it on 10 years supplement loan from the house, simply because it was only 1% interest. It does not come much cheaper here. But you might have other terms around the EU/UK.

 

[Ocean Spirit]

Prices have increased substantially since we purchased a year ago but we had a 9k deposit and with dealer contribution and discount (+ there was a loyalty bonus kicking around then too) we ended up with a monthly payment of £520 on PCP for a 150 Ocean with a 24k balloon after 42months.

The deals are in that ball park still.
My deposit was higher but not as much as you might expect, my balloon the same and monthly payments less.

But if you are prepared to stump up a deposit like this Lewis makes a good point. Because when your 4 years are up that balloon payment is pretty low by 4 year old Cali standards. So you can jump ship and sell for more, or stay on board by paying or financing the remainder. If you do that, the Cali you have at the time would be better than trying to buy one for the cost of the final balloon.

 

[Amarillo]

As cash buyers, and willing to wait, we were able to order a Beach to our specification, to be used as a demonstrator before delivery to us. In return we had a 14% discount. In the end, the wait was so long that the vehicle was delivered to us new and unused as a demonstrator.

If you can't pay cash, increase your mortgage to pay cash - it's the cheapest way to fund a new car and you can negotiate stunning deals, not available to credit buyers.


Follow my blog: www.au-revoir.eu

 

[rpevans99]

A few weeks ago we bought our Cali with a Blackhorse PCP deal via a VW dealer. £50K van - £10K cash deposit - 4yrs at £520 per month and then a £21K balloon payment - APR 4.9% (might have gone up this week). I am pretty certain the Cali will be worth more than £21K in 4 years time so either payoff and sell or keep. It worked for us.

Paying cash is great but note the dealer gets a kick-back from the finance company so will factor that into the price. I have read some folk take out the PCP deal and then pay it off after 3 months or so and thus save a load of interest and get a good price - interesting option.

 

[westfalia]

If you can't pay cash, increase your mortgage to pay cash

Is that really paying cash ?

 

[pjm-84]

Is that really paying cash ?

No.

Pay the PCP finance off within the 14day cooling off period. I did this recently for an £500 finance contribution. First time and very easy to do, so will be doing it in future. We didn't bother when we purchased our Cali as the dealer wasn't pushing PCP.

We're fortunate to be cash buyers for our vehicles and this means that we have no finance repayment during vehicle ownership allowing us to rebuild our savings and having collateral in the vehicles when we come to change. Having no children also helps!

 

[Amarillo]

If you can't pay cash, increase your mortgage to pay cash

Is that really paying cash ?

Yes. You sell a chunk of your home to the bank, which you later rebuy, a little each month.

In a separate transaction, you pay cash for your vehicle.


Follow my blog: www.au-revoir.eu

 

[Meoncoast]

a £1000 deposit with approx £810 a month for 120 months. I guess that works to about circa 8% interest rate.

£98200 of fun!

 

[Mr & Mrs B]

We took a chunk out of my flexible pension pot to buy Cali - I know it's not an option for youngsters, but it worked for us wrinkles!

 

[CampervanTime]

Do you know what kind of spec you are after?

There is quite a lot in a buyers favour at the moment...

If you factor in 7.5% off list (minimum, more if demo van), then £1000 pcp deposit contribution (the current offer) and then whatever deposit you are putting in, that’s not bad going.

I can give you the residual pcp values for a 150 DSG Ocean and a 204 DSG Ocean as I’ve had them recently (10k per annum, 48 months). The residual doesn’t change with what options you put on, you simply have to pay for the options in full over the pcp term, with interest obviously.

So... if you can find a spec for say, £55k, then take off 7.5% = 50875, minus day £5k deposit and then another £1k deposit contribution = 44875 to finance.

If this was a 150 dsg, residual on 10k per annum 48 months is approx £23221, so actually £21654 to pay over 48 months + interest at 4.9%.

This is £451 a month + interest.

Take a look at http://www.pcpcal.co.uk/ to get a price with the interest on.

Then just flex the above costs up and down a bit.

Does that help?

 

[CALI FATE]

I went for a chunk down and paid £400 per month for 40 months - with an expected balloon of £18k. I reckoned it would be worth much more than £18k so had the option of saving / doing the lotto / saving on hotels / cheaper holidays - to build up my funds over the 40 months or paying the £18k and selling it and making a profit. Its a win / win / win / win / win

 

[Jonathan Duke]

We (myself and OH) had a car each, and a motorbike each.... We sold the 2x cars, which became our deposit (£15,000) then took 2x individual loans of £14,000 each (£28,000 total) from Nationwide at 3.4%.

We purchased a new T6 Cali Beach, with over £9k of factory fit extras. Purchase price was £44k, after an 8% discount.

We started to Airbnb our flat, when away for weekends and longer, in the Cali..... The plan was to have the £28k worth of loans paid-off over 48x months, combined loan payment was £625 per month.... However, having made significant additional savings due to spending much less on our annual holidays, less on weekends away throughout the year and some savings on overnight business trips during most months.... Less on running the 2x cars previously..... We are on-target to have the loans cleared within 16x months.

With all of the above considered..... The changes brought about to our annual expenditure, which sprung as a direct result from the decision to buy the Cali, has resulted in us being almost £7k per year better off!!

So...... In hindsight, the cost decision was a no-brainer, and I'm looking forward to having the extra cash in pocket, once the loans have been fully settled. New motorbike perhaps!

 

[CALI FATE]

We (myself and OH) had a car each, and a motorbike each.... We sold the 2x cars, which became our deposit (£15,000) then took 2x individual loans of £14,000 each (£28,000 total) from Nationwide at 3.4%.

We purchased a new T6 Cali Beach, with over £9k of factory fit extras. Purchase price was £44k, after an 8% discount.

We started to Airbnb our flat, when away for weekends and longer, in the Cali..... The plan was to have the £28k worth of loans paid-off over 48x months, combined loan payment was £625 per month.... However, having made significant additional savings due to spending much less on our annual holidays, less on weekends away throughout the year and some savings on overnight business trips during most months.... Less on running the 2x cars previously..... We are on-target to have the loans cleared within 16x months.

With all of the above considered..... The changes brought about to our annual expenditure, which sprung as a direct result from the decision to buy the Cali, has resulted in us being almost £7k per year better off!!

So...... In hindsight, the cost decision was a no-brainer, and I'm looking forward to having the extra cash in pocket, once the loans have been fully settled. New motorbike perhaps!

Too sensible to own a California Beach

 

[pjm-84]

Good point and worth mentioning.

We used to rent a Gite in France for our Summer break (2 to 3 weeks) and haven't done so since 2014 because of the Cali.

 

[Kmann]

Yes. You sell a chunk of your home to the bank, which you later rebuy, a little each month.

In a separate transaction, you pay cash for your vehicle.


Follow my blog: www.au-revoir.eu

Like we did … lovest interest available. And no initial cost to a finance company. We pay a little monthly administration fee to the bank though (around 30 £).

 

[MarkVw2017]

You have all been so lovely and helpful, sorry about the delayed reply but thank you for all your replies, i have read everyone of them and some brilliant options and advice!!!!

I have got a quote back for a new cali 150 ocean, no extras and standard white (4 beds and kitchen would be amazing in its own!) and it came back with;
£51401.84 total on the road price for the cali
£4k deposit
£1k deposit contribution
48 months at £630 and ballon payment of £21750 @4.9%apr

Final pay pack £57,985.

He gave me a 10 year option but 5 years wouod be thr max for me.

What are your thoughts on this, would you try and get it down some more as it includes a £1969 discount already. Anyone got any haggling tips for me, im like a rabbit staring at headlights hahaha

Also noticed, are new calis now part of the ridiculous new car tax scheme so its £450 per year for 5 years as its over £40k? Shame if the dvla put these in the higher class.

I had alook on the vw website and theres loads of lovely options, so had to turn away as if i didnt see it, i cant miss it and TBH i would be SO happy with 4 beds and a kitchen and my kids woukd love it too, anything extra on the standard ocean would be a bonus

However, if you dont mind, please send me a link to a thread if you feel there are some essential options that i really must have!

Thank you all again for your help and speak to you soon!!!

 

[CampervanTime]

Wow... they're not being generous thats for sure.

You can get 7.5% discount with just an email to Mark + VW Van Centre West Yorkshire - that would net you £3660 off, or a purchase price of £50,102 for a bog standard 150 TDI Ocean. (remember the discounts don't come off delivery/OTR charges - just the base van before VAT)

That extra saving will probably just bring you under the £600/month mark with all the other variables staying the same. I work on £20 per £1000 borrowed as a rule of thumb (so save £1000 off the price or put £1000 more in and you will reduce payments by approx £20/month).

In terms of the car tax - yes, it's £40k+ and yes, that means we pay the top rate for it for 5 years from new...

 

[mccp]

A standard Ocean already has plenty of options, no need to add anything really. Others may disagree.

The best way to negotiate is to ask other dealers to quote for your spec. You should be able to get 5% off list at least, and 7% is quite common. Also there is nothing to lose from getting brokers to quote as well. The best discounts that I’ve seen on this forum are posted by people who have pestered loads of dealers for a good price.

Also don’t overlook pre-reg demos. The spec might be more than you need, but the discount is often over 10%.

 

[Elmo3]

If you ever want to sell the Cali you’re going to need certain essential options I’m afraid, otherwise you will be seriously limiting its saleability. I’m thinking front and rear parking sensors, awning, cruise, app connect (a must have really for new Calis now), comfort mattress. Many will, I’m sure, disagree on some of these but a Cali with zero options will be tricky to shift. Personally I’d also say metallic (it’s an expensive vehicle...).

I’d be snapping up one of the properly specified pre reg Calis around at the moment at far greater discount than you are being offered. Good luck!

 

[mccp]

There is a Candy White fan club: https://vwcaliforniaclub.com/threads/show-us-your-candy-whites.9131/

 

[CampervanTime]

This is a reasonable spec for less than the cost of a brand-new one: http://www.parkwayvolkswagen.co.uk/...a-mpv-white-manual-diesel-id_13729132019.aspx

It's a pre-2018 model (so no split worktop or flash interior lighting) but if it's not been registered, you can get the PCP deal of £1k extra deposit on this too.

Might be worth a look as it already has the awning, nicer wheels, tinted windows, parking sensors, nicer radio with app connect, cruise control etc