Formentor PCP & PCH offers thread

[Andymunchy]

Hi all, I’m a newbie on here looking for guidance.
it seems a number of people on here ordered via Leasing Options, like I have.
I ordered my VZ2 in May (a couple of days before the price increases) and was told I was ordering from pipeline stock (?) with a delivery date of late September. I haven’t yet had a build date and there is still no update On when it’s going to be built, nevermind actually delivered.
is anyone in the same boat and ordered around the same time ?
I’m like a kid at the moment, far too excited to wait, but desperately trying to be patient.

 

[4Mentor]

Hi all, I’m a newbie on here looking for guidance.
it seems a number of people on here ordered via Leasing Options, like I have.
I ordered my VZ2 in May (a couple of days before the price increases) and was told I was ordering from pipeline stock (?) with a delivery date of late September. I haven’t yet had a build date and there is still no update On when it’s going to be built, nevermind actually delivered.
is anyone in the same boat and ordered around the same time ?
I’m like a kid at the moment, far too excited to wait, but desperately trying to be patient.

Theres a massive backlog at the moment so prepare to be disappointed. My soon to be ex vehicle order was in April. It has been built but can't be finished without all the chips they don't have. So is currently sitting somewhere in Spain waiting with no eta and no one having a clue when the chips will arrive.

This is the same for all manufacturers. Ford just decided to send half finished vehicles to dealer forecourts and let them finish them when the chips arrive just to keep some sort of presence in the market. Other manufacturers are making their vehicles worse by removing parts needing the chips just to sell some still, sounds desperate to me and not something you'd do if you thought the chips were just around the corner. Tesla decided that instead of waiting for the standard chips everyone wants they'd use one more readily available and just rewrite the car software instead, not a minor task!

Regarding the chips themselves, by all reports car manufacturers are at the back of the queue as the chips they need are quite old, but also robust. They are less profitable to make. So the manufacturers are going to prioritise the expensive newer chips for consumer devices. The chips themselves take ages to make and setting up a factory to make them around 2 years.

If you read different reports from different countries and different industries that use the same chips you'll see the general consensus seems to be 2022 is when this will get better, but may not even fully recover for a couple of years.

Like you I was tired of waiting and decided to find out. So personally I shall be buying second hand and cancelling. Not waiting for who knows how long for a vehicle that is also poorly developed and may end up in the garage for weeks with unknown software issues.

Good luck to you all.

 

[EuKiwi]

Theres a massive backlog at the moment so prepare to be disappointed. My soon to be ex vehicle order was in April. It has been built but can't be finished without all the chips they don't have. So is currently sitting somewhere in Spain waiting with no eta and no one having a clue when the chips will arrive.

This is the same for all manufacturers. Ford just decided to send half finished vehicles to dealer forecourts and let them finish them when the chips arrive just to keep some sort of presence in the market. Other manufacturers are making their vehicles worse by removing parts needing the chips just to sell some still, sounds desperate to me and not something you'd do if you thought the chips were just around the corner. Tesla decided that instead of waiting for the standard chips everyone wants they'd use one more readily available and just rewrite the car software instead, not a minor task!

Regarding the chips themselves, by all reports car manufacturers are at the back of the queue as the chips they need are quite old, but also robust. They are less profitable to make. So the manufacturers are going to prioritise the expensive newer chips for consumer devices. The chips themselves take ages to make and setting up a factory to make them around 2 years.

If you read different reports from different countries and different industries that use the same chips you'll see the general consensus seems to be 2022 is when this will get better, but may not even fully recover for a couple of years.

Like you I was tired of waiting and decided to find out. So personally I shall be buying second hand and cancelling. Not waiting for who knows how long for a vehicle that is also poorly developed and may end up in the garage for weeks with unknown software issues.

Good luck to you all.

Just to be clear on this, if a chip is an older design, on a larger process node or lithography, then there's no prioritising needed to be done from the chip manufacturers. The newest chips are done on 5, 7 or 10nm for example, whereas older, less advanced ICs will be on much larger processes, and that's a totally different fab altogether - so no, in that case, there would be no going to the back of the queue. It would be a different queue altogether, or different manufacturer.

In terms of profit, fabs work on a per-wafer basis - however many chips physically fit on a wafer is how many you get per wafer, and the fab charges by the wafer. a 20nm fab can only make 20nm wafers so it's not a case of just deciding to make newer, more advanced process node chips when they feel like it and pushing older designs to the back.

Chips or ICs also as they come out of a fab are not robust in the slightest - how they are packaged after diffusion of course may change that... but that is done elsewhere and the supply issue is at the fab level. It's affecting everything worldwide - servers, laptops, desktops, phones, game consoles, TVs, the list goes on.

So anyway, if someone tells you car manufacturers are at the back of the line because their chips are 'less advanced' - that's bunk. If they're at the back of the line, it's because they didn't book in fabrication slots in advance, and priority went to other customers either on a contract or first-come basis.

Really sorry to hear about your decision though mate, despite the on and off issues with my touchscreen, I am very happy with mine... I hope at least that you pick up something else that puts a smile on your face, whether a used Formentor or something else! Have fun

 

[TheJooce]

Hey folks,

New here but am relatively sure I will be ordering a Formentor pretty soon. 2.0 TSI 310 DSG 4Drive VZ2.

We are undecided between lease and PCP at this point and have the following deals available:

Monthly payments: You pay 47 monthly lease payments	£394.81
Initial payment: You pay 1 initial payment in the first month	£3,553.31
Contract length:	4 years
Mileage/year:	8,000
Additional fees: Any admin fees charged by this dealer	£300.00

It will be a tiny bit more than that as I would be changing from White, but that is the leasing deal that is showing best for me at the moment. How does that compare to what others have paid in the last month or so? I understand there was a price hike a month or two ago.

I am waiting on the breakdown of PCP offerings, but the total is coming out at about £39,605 - I just don't know how it breaks down - what the final option payment is etc.

I assume with the fairly long build lead times, I have no bargaining to be had in relation to ordering just before new registrations are available?

I am using Carwow primarily - are people finding offers much better outside of this?

Any advice welcomed!

 

[David930212]

Hey folks,

New here but am relatively sure I will be ordering a Formentor pretty soon. 2.0 TSI 310 DSG 4Drive VZ2.

We are undecided between lease and PCP at this point and have the following deals available:

Monthly payments: You pay 47 monthly lease payments	£394.81
Initial payment: You pay 1 initial payment in the first month	£3,553.31
Contract length:	4 years
Mileage/year:	8,000
Additional fees: Any admin fees charged by this dealer	£300.00

It will be a tiny bit more than that as I would be changing from White, but that is the leasing deal that is showing best for me at the moment. How does that compare to what others have paid in the last month or so? I understand there was a price hike a month or two ago.

I am waiting on the breakdown of PCP offerings, but the total is coming out at about £39,605 - I just don't know how it breaks down - what the final option payment is etc.

I assume with the fairly long build lead times, I have no bargaining to be had in relation to ordering just before new registrations are available?

I am using Carwow primarily - are people finding offers much better outside of this?

Any advice welcomed

Try Gateway2lease , I believe they would definitely be able to beat the quote above. I am paying 298 a month for a V2 which was the best offer on the market at time .

 

[TheJooce]

Have looked at them, they are way more expensive than the deal above. About £70 more per month and £700 higher on initial payment. Not good prices right now.

 

[Pords]

Prices have shot up over the last couple of months across the board. All those early deals have gone due to demand and ongoing shortages. My VZ3 due at dealers 1st September, is only £6 more a month than what you would be paying for a Vz2 and over a £1000 less initial payment. Going to be hard finding good prices in the current climate and all VZ models will be factory orders no doubt.

 

[CupraNewboy]

Prices have shot up over the last couple of months across the board. All those early deals have gone due to demand and ongoing shortages. My VZ3 due at dealers 1st September, is only £6 more a month than what you would be paying for a Vz2 and over a £1000 less initial payment. Going to be hard finding good prices in the current climate and all VZ models will be factory orders no doubt.

I did a calculation on the weekend and identified that the discount that ended in mid May was as much as 31% for the VZ2 310. With the chip shortage, which is expected to last for the best part of 18 months, the supply and so price of the car is only going to get worse. You’re stuck between the devil & the deep blue sea; order now and wait 6-8 months or defer your order for 18 months (or buy something else of course). I really do believe that we are seeing the last hurrah of ICEs and the ramp up, with the announcements they’re about to make re climate change means they’re going to be taxed out if existence and the production of EVs to ramp up considerably. The EV charging infrastructure problem will be solved by government tax subsidies/ incentives.


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[EuKiwi]

I did a calculation on the weekend and identified that the discount that ended in mid May was as much as 31% for the VZ2 310. With the chip shortage, which is expected to last for the best part of 18 months, the supply and so price of the car is only going to get worse. You’re stuck between the devil & the deep blue sea; order now and wait 6-8 months or defer your order for 18 months (or buy something else of course). I really do believe that we are seeing the last hurrah of ICEs and the ramp up, with the announcements they’re about to make re climate change means they’re going to be taxed out if existence and the production of EVs to ramp up considerably. The EV charging infrastructure problem will be solved by government tax subsidies/ incentives.


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There's one slight issue there - the charging infrastructure is one thing, but no amount of subsidies will magically increase the amount of power supply in the UK at present, and it is not sufficient to support a massive and rapid ramp up of electric car ownership.

Then there's the issue of people charging them at home - a huge number of people park on the street etc... there are far too many hurdles yet to be overcome I think to say that ICE is on the way out.

 

[CupraNewboy]

Fair comment. Although I do think that the climate agenda is about to take precedence.


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[EuKiwi]

Fair comment. Although I do think that the climate agenda is about to take precedence.


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As well it should - but unfortunately even if it does take precedence, there's not going to be an easy or quick ramp-up of electrical supply, and if we're providing all that electricity from non-clean sources anyway, then we're not really contributing to a solution re: the climate agenda.

 

[V2-DSG]

V2 204 DSG HYBRID - graphene grey.
36 month lease
1 month upfront
5k
£365

Don't think we got too bad of a deal, but it was a bit cheaper when looking about 4 weeks ago, delivery in 6-8 weeks

 

[anewlime]

I ordered a 245 VZ1 PCH in June:
1+23, 10k p/a, met. paint: £357.98/month inc. VAT (£199 process fee).

I just checked now and the same spec from the same broker is £579.32, that's more than a 60% increase!

Possibly a result of chip shortages and other global economic factors, but even still...+60% in 2 months!?

Glad I ordered when I did - although I'm yet to get any indication of delivery date!

 

[Mad Spoons]

I’m going to risk it and wait a few more months before ordering as the prices are mental on everything at the minute.

My local dealer said all discounts had been removed because there was such a large order backlog. I’m Very jealous of the people that were ordering a few months back.

 

[CupraNewboy]

I ordered a 245 VZ1 PCH in June:
1+23, 10k p/a, met. paint: £357.98/month inc. VAT (£199 process fee).

I just checked now and the same spec from the same broker is £579.32, that's more than a 60% increase!

Possibly a result of chip shortages and other global economic factors, but even still...+60% in 2 months!?

Glad I ordered when I did - although I'm yet to get any indication of delivery date!

I’m a VZ2 310, 13 May £2.6k + 24mths @ £293pm 8k miles. Expected in October. Those prices are ludicrous!


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[anewlime]

I’m a VZ2 310, 13 May £2.6k + 24mths @ £293pm 8k miles. Expected in October. Those prices are ludicrous!


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Yeah, if I were ordering right now there's no way I'd be going with a formentor, they're just not good value on lease at the moment. I'd have to go for a Mazda CX-30 instead, they don't seem to have had the same crazy price hikes.

 

[Pords]

Yeah, if I were ordering right now there's no way I'd be going with a formentor, they're just not good value on lease at the moment. I'd have to go for a Mazda CX-30 instead, they don't seem to have had the same crazy price hikes.

Agreed. These prices are continuing to rise on a monthly basis. Just priced up same spec for my VZ3, and £85 month dearer, with an additional £600 on top of initial payment. Would have looked at other options, but it’s happening on all makes. My missus new Ateca on order has also gone up in price considerably. Glad I ordered when I did.

 

[EuKiwi]

Agreed. These prices are continuing to rise on a monthly basis. Just priced up same spec for my VZ3, and £85 month dearer, with an additional £600 on top of initial payment. Would have looked at other options, but it’s happening on all makes. My missus new Ateca on order has also gone up in price considerably. Glad I ordered when I did.

I can confirm that here in Germany also the cheap deals are no longer to be had.

What I had:

VZ3, all options (except towbar) ticked
No upfront payment
15k Kilometres per year
€377 per month x 36

Looking up the same spec and conditions now, it's about 580 per month with the cheapest I could find.

 

[CupraNewboy]

I can confirm that here in Germany also the cheap deals are no longer to be had.

What I had:

VZ3, all options (except towbar) ticked
No upfront payment
15k Kilometres per year
€377 per month x 36

Looking up the same spec and conditions now, it's about 580 per month with the cheapest I could find.

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[Cookie76]

I've gone for the VZ1 on 4 years PCP:
3,500 deposit
358 per month
10,000 miles