VW Special

SBSP · Post by **SBSP** » 25 Mar 2008, 09:21

http://www.vw.co.za/polo-plan/

Awesome deal i would say!!!

Edit:

1.4 Trendline R114,900 R1,415 72 10.1% 20.0% R40,215 R165,045
1.6 Trendline R132,700 R1,615 72 10.1% 20.0% R46,445 R189,265
1.6 Comfortline R149,000 R1,799 72 10.1% 20.0% R52,150 R211,444
1.6 Comfortline Tiptronic R160,500 R1,928 72 10.1% 20.0% R56,175 R227,092
2.0 Highline R163,700 R1,964 72 10.1% 20.0% R57,295 R231,447
1.9 TDI Highline R173,500 R2,074 72 10.1% 20.0% R60,725 R244,781
Polo GTI R198,300 R2,354 72 10.1% 20.0% R69,405 R278,526

viceroy · Post by **viceroy** » 25 Mar 2008, 10:01

Not so great with a 20% deposit, and between R40k and R70k residual.

SBSP · Post by **SBSP** » 25 Mar 2008, 10:04

its a 35% residual. 20 deposit is not that bad if you have a trad in.
the only crap part is the 6 year installments

My Velocity is 2300 pm for 5 years the car is 85K the Polo GTI is 200K

and you can get it for 2300 a month i would far rather drive a GTI for 6 years than driving a stupid velocity for 5 years thats how i see it.

or even a polo TDI for less than my installments per month

Keigo · Post by **Keigo** » 25 Mar 2008, 10:04

nice offer~

I like their cars, but hate their service and policy~

SBSP · Post by **SBSP** » 25 Mar 2008, 10:05

Keigo wrote:nice offer~

I like their cars, but hate their service and policy~

Same, I hate them

viceroy · Post by **viceroy** » 25 Mar 2008, 10:36

SBSP wrote:its a 35% residual. 20 deposit is not that bad if you have a trad in.
the only crap part is the 6 year installments

My Velocity is 2300 pm for 5 years the car is 85K the Polo GTI is 200K

and you can get it for 2300 a month i would far rather drive a GTI for 6 years than driving a stupid velocity for 5 years thats how i see it.

or even a polo TDI for less than my installments per month

And then what? you hand it back to them or finance the residual which you've already paid finance on or have to sell the car and still need to pay the residual.

Sorry, but unless its a company car or you just want to rent it, you'd have to be a financial idiot to take a deal like that

Just to put it into perspective for you.

I drive a Polo 2.0 Highline.

I pay R3200pm for 4.5yrs

This comes to R172,800 + R20,000 deposit I paid for the car = R192800

So you see...My monthly payments are over R1200 more each month, but in the long terms I'm saving R38,000 in interest.

Then we come to the end of the term and I want a new car...I can now sell my car for whatever its worth, in my case, not less than R85000 which is a decent deposit

If I'd taken that VW deal, I'd still owe R57000 on the car thus only giving me R28000, which in a few years, is not a great deposit.

SBSP · Post by **SBSP** » 25 Mar 2008, 10:45

Well then i'm a financial idiot

viceroy · Post by **viceroy** » 25 Mar 2008, 10:49

Have edited the post to show you how much of a financial idiot you are

This effect is compounded as you go through cars...

That R85,000 deposit I have for the next car means I don't have to finance the R57,000 like I would have had to with the deal...which means lower payments and I can work that either to have a better car or a shorter period.

pretty soon...I'll be buying my cars for next to nothing while the financial idiot will still be putting down a 20% deposit and paying for their car each month

:):)

Website · Post by **hamin_aus** » 25 Mar 2008, 10:58

viceroy wrote:Sorry, but unless its a company car or you just want to rent it, you'd have to be a financial idiot to take a deal like that

Very True.

You don't take residual unless you plan to trade the car in for a new one every year or two. Like a line of revolving car credit.

Buying a car on residual with the intention of keeping it for the full finance term is lunacy.

SBSP · Post by **SBSP** » 25 Mar 2008, 11:02

Thanks.

But 28K deposit, Deposits dont make that big of a difference.
in most cases you need 10% 28K is 10% of a 280K car.

in 5 years you will still be able to buy a decent car for 280K.

I do see your point though, Residual is a bad thing. No one can argue unless ur a rep and put on lots of miles.
But in my opinion buy on residual until you buy to your last car.

I could either pay a big installment and have less spending money
or have more spending money and a smaller installment.

Yes in the long term i pay more but the 10.1 % rate kinda make up for it.

naughty · Post by **naughty** » 25 Mar 2008, 11:12

well i did it differently - i took the sunroof plus leather extra on my Polo GTI - and i saved around R85K+ in interest by paying cash for the car

Website · Post by **hamin_aus** » 25 Mar 2008, 11:16

naughty wrote:i took the sunroof plus leather extra on my Polo GTI - and i saved around R85K+ in interest by paying cash for the car

Maybe if we start saving from now, when we get to your age we'll be able to buy a car that way

DeanMF · Post by **DeanMF** » 25 Mar 2008, 11:27

AlphA · Post by **AlphA** » 25 Mar 2008, 11:49

LMAO @ Jamin....hehe

Hex_Rated · Post by **Hex_Rated** » 25 Mar 2008, 12:11

The interest rate is good but rather put down more than 20% deposit if you can and take no residual. It will make the car cheaper in the long run and when you finish paying it off, or get closer to buying a better car, you'll have more money to spend.

If you can't afford to pay the car off without having to pay a large residual, you should rather get a cheaper car.

viceroy · Post by **viceroy** » 25 Mar 2008, 12:22

SBSP wrote:Thanks.

But 28K deposit, Deposits dont make that big of a difference.
in most cases you need 10% 28K is 10% of a 280K car.

in 5 years you will still be able to buy a decent car for 280K.

I do see your point though, Residual is a bad thing. No one can argue unless ur a rep and put on lots of miles.
But in my opinion buy on residual until you buy to your last car.

I could either pay a big installment and have less spending money
or have more spending money and a smaller installment.

Yes in the long term i pay more but the 10.1 % rate kinda make up for it.

Well it's always your choice.

I'd rather pay in extra now for a so so and then when I buy my next car...put down a HUGE deposit, and pay less each month.

Basically I've applied this to my place as well...will be paid off in 3 years...imagine that...3 years and then no more mortgage payments, but I struggle a little in the meantime

Hex_Rated · Post by **Hex_Rated** » 25 Mar 2008, 12:32

Best to be as out of debt as possible.

The only time it's good to be in debt is if you already have cash and invest the money in assets which have better returns than the interest rate your getting from your creditor. eg. You buy a car at 6% interest and invest the money you would have used on a larger deposit into a savings account that pays 8% interest. Or property or something with big returns.

Maplassie_GTR · Post by **Maplassie_GTR** » 27 May 2008, 16:27

SBSP wrote: i would far rather drive "ANY BRAND NAME OTHER THAN VW"for 6 years than driving a stupid velocity for 5 years thats how i see it.

You said it

SBSP · Post by **SBSP** » 28 May 2008, 07:30

Hey Thats not what is said

I said

SBSP wrote: i would far rather drive a GTI for 6 years than driving a stupid velocity for 5 years thats how i see it.

Maplassie_GTR wrote: I Love Peoples Cars Yipeeee

Maplassie_GTR · Post by **Maplassie_GTR** » 28 May 2008, 10:15

SBSP wrote:Hey Thats not what is said

I said

SBSP wrote: i would far rather drive a GTI for 6 years than driving a stupid velocity for 5 years thats how i see it.

Maplassie_GTR wrote: I Love Peoples Cars Yipeeee

Seether · Post by **Seether** » 04 Jun 2008, 22:16

I have waited and saved now for four years (driving old cars) and turning every cent around, and bought myself a 2nd hand corsa with full service history and my girlfriend a brand new citi sport and it was cash. With all the rates going up it's not good to buy on credit. Ok, that is only my personal believe

Screeper · Post by **Screeper** » 05 Jun 2008, 09:37

naughty wrote:well i did it differently - i took the sunroof plus leather extra on my Polo GTI - and i saved around R85K+ in interest by paying cash for the car

Lovely method if you can afford it.
However, Naughty I believe you may be in the 0.000001% of people who have the cash to be able to do that kind of deal.