Formentor PCP & PCH offers thread

[Harps]

Hi Harps,

Yeah sure:

Cupra Formentor VZ2 2.0 TSI 4Drive DSG
Maximum 12 month initial rental of £3,411.84.
Followed by 23 months @ £284.32
10,000 miles per years
£234 inc VAT for processing.

I think this is the best deal going tbh literally spent ages going through all companies offering leases on Google im on page 7 and some are coming up ridiculous wanting £450 and more. I'm undecided about 2 or 3 years. I've not test driven the car yet going this Saturday before making a final decision whether to go for it or not. Probably will be through Nationwide. Have they given you any idea how long the wait is for one?

Currently ive got a R Line Tiguan which I love but as they have given it a face lift recently they all want much more than I'm willing to pay, but the Formentor looks really nice so I'll be happy with the change and the 310 bhp sounds fun.

 

[MrBiggles87]

I think this is the best deal going tbh literally spent ages going through all companies offering leases on Google im on page 7 and some are coming up ridiculous wanting £450 and more. I'm undecided about 2 or 3 years. I've not test driven the car yet going this Saturday before making a final decision whether to go for it or not. Probably will be through Nationwide. Have they given you any idea how long the wait is for one?

Currently ive got a R Line Tiguan which I love but as they have given it a face lift recently they all want much more than I'm willing to pay, but the Formentor looks really nice so I'll be happy with the change and the 310 bhp sounds fun.

Yeah I did a lot of digging around and Nationwide / UKCarline came up the cheapest. The deciding factor was that UKCarline charge £1000 + VAT to cancel and Nationwide only charge £234!

I actually have a 4 hour test drive this Friday, so that should make my decision easier. I am going for 2 years as I plan to go EV soon and this is just to tie me over for a couple of years. The lead time is mid-late October but that's perfect for me, as I don't need the car until November. So I can secure the deal now, and then look forward to it for the next 6 months.

I test drove the Golf R last week which was really fun and pretty much the same engine. We need a bit more space with having a little one so the Formentor is the perfect size. Hope your test drive goes OK, are you testing the 1.5 or the 2.0 engine?

 

[Harps]

Yeah I did a lot of digging around and Nationwide / UKCarline came up the cheapest. The deciding factor was that UKCarline charge £1000 + VAT to cancel and Nationwide only charge £234!

I actually have a 4 hour test drive this Friday, so that should make my decision easier. I am going for 2 years as I plan to go EV soon and this is just to tie me over for a couple of years. The lead time is mid-late October but that's perfect for me, as I don't need the car until November. So I can secure the deal now, and then look forward to it for the next 6 months.

I test drove the Golf R last week which was really fun and pretty much the same engine. We need a bit more space with having a little one so the Formentor is the perfect size. Hope your test drive goes OK, are you testing the 1.5 or the 2.0 engine?

My closest Cupra dealer is in Ilkley near Leeds and I think the guy said they only had the 1.5 litre version I haven't seen anywhere that has a VC2 available to test drive.

 

[MrBiggles87]

My closest Cupra dealer is in Ilkley near Leeds and I think the guy said they only had the 1.5 litre version I haven't seen anywhere that has a VC2 available to test drive.

Ah thats a shame!

Are you near the Swindon area? (South West) I could show you the 2.0 version?

 

[Harps]

Ah thats a shame!

Are you near the Swindon area? (South West) I could show you the 2.0 version?

Unfortunately I live up north in Yorkshire but appreciate the offer mate. Let us know how you get on with Nationwide. Most people have reviewed the favourably, but a few say they are slow in getting back to them as well. All the best and hope it works out for you.

 

[MrBiggles87]

Unfortunately I live up north in Yorkshire but appreciate the offer mate. Let us know how you get on with Nationwide. Most people have reviewed the favourably, but a few say they are slow in getting back to them as well. All the best and hope it works out for you.

Thanks mate, as with all my other test drives I will have my mate film things like launches, exhaust etc so is there anything you want filmed/documented that I can message you after I have finished?

 

[Harps]

Thanks mate, as with all my other test drives I will have my mate film things like launches, exhaust etc so is there anything you want filmed/documented that I can message you after I have finished?

Not anything in particular will just be interested to see what your thoughts are after. I'm slightly worried about the driver seating position from some reviews Ive seen they say its not the best. Im fairly tall and got use to being relatively high up in my Tiguan so not sure if I'll like being much lower in this. Also wonder how good the rear visibility is.

 

[MrBiggles87]

Not anything in particular will just be interested to see what your thoughts are after. I'm slightly worried about the driver seating position from some reviews Ive seen they say its not the best. Im fairly tall and got use to being relatively high up in my Tiguan so not sure if I'll like being much lower in this. Also wonder how good the rear visibility is.

Sure thing I will let you know. I am 5"10 and my F20 BMW sits quite low, so the Formentor will be higher for me but i'll try to be honest about the seating position. If I remember I will take a picture of the rear visibility also.

Gonna do some motorway, B-roads and town driving in each of the modes to see how she is.

 

[Agnes.Surrey]

Hi Harps,

Yeah sure:

Cupra Formentor VZ2 2.0 TSI 4Drive DSG
Maximum 12 month initial rental of £3,411.84.
Followed by 23 months @ £284.32
10,000 miles per years
£234 inc VAT for processing.

If you decide to go for 12 x upfront payment, better get Gap insurance with initial payment cover.

 

[MrBiggles87]

If you decide to go for 12 x upfront payment, better get Gap insurance with initial payment cover.

I never thought about that. I worked out that the deposit plus 24 x £284 is roughly £10,000.

I just looked at quotes which suggested a level of cover for £10,000, which would make sense?

They want an initial payment of £20.47 followed by 9 months of £15.47

I have not done this before, does that sound about right?

 

[Agnes.Surrey]

With PCH gap, you don't choose level of cover, just initial payment you want to cover (options are up to £3000) and declare monthly. I paid £135 for 3 years cover and £3000 intitial. I have PCH for 2 years only, but may extend lease, so 3y policy just in case. That was with Total Loss. Ala Gap is usually more expensive but you may use 25% off code MSE25 or price match.

2y policy will be cheaper.

 

[AndyCupra93]

There’s really not much benefit to paying a huge initial payment. I always go for 1+23 or 1+35 terms where possible.

 

[Cupradev]

My closest Cupra dealer is in Ilkley near Leeds and I think the guy said they only had the 1.5 litre version I haven't seen anywhere that has a VC2 available to test drive.

Hi mate sorry to jump in, is that dealer DW Keith, in Ilkley?

 

[MrBiggles87]

There’s really not much benefit to paying a huge initial payment. I always go for 1+23 or 1+35 terms where possible.

Why would I want to pay £423 a month when I can pay £284? It works out exactly the same at the end of the term... i'd rather get a chunk of it paid off straight away.

 

[AndyCupra93]

Why would I want to pay £423 a month when I can pay £284? It works out exactly the same at the end of the term... i'd rather get a chunk of it paid off straight away.

Because:
1) it negates the need for GAP insurance to cover the initial payment (i.e. actually save money over the lease term) - you won’t get that initial payment back if the car is a write-off.
2) the money could be kept as an emergency savings fund if required or even invested

3) this is a subjective one, but having higher outgoings might actually help with money management. All to often people talk of their car costing “only” £200/£300 a month or whatever, ignoring the fact they put several thousand upfront meaning the amortised figure is significantly higher.

Of course, another way of looking at it would be to say if I put £2k down and pay £200/mo rather than £0 down and pay £400/mo, I will consciously save that £200/mo for the next car deposit - but that requires you to be more on top of your finances. Just my opinion anyway.

 

[MrBiggles87]

Because:
1) it negates the need for GAP insurance to cover the initial payment (i.e. actually save money over the lease term) - you won’t get that initial payment back if the car is a write-off.
2) the money could be kept as an emergency savings fund if required or even invested

3) this is a subjective one, but having higher outgoings might actually help with money management. All to often people talk of their car costing “only” £200/£300 a month or whatever, ignoring the fact they put several thousand upfront meaning the amortised figure is significantly higher.

Of course, another way of looking at it would be to say if I put £2k down and pay £200/mo rather than £0 down and pay £400/mo, I will consciously save that £200/mo for the next car deposit - but that requires you to be more on top of your finances. Just my opinion anyway.

I fully understand where you are coming from, but as the GAP insurance is so cheap, I would much rather pay the £130 and have the peace of mind that I would get my initial deposit back.

I am in the process of moving house and as my first house turned out to be a good investment, I have a nice chunk of equity, plus I was involved in an accident 2 years ago. This caused a back injury which I am still having chiropractic sessions for which when resolved, will have a fairly decent pay out.

I have a mortgage, a child and a currently unemployed partner so I need to keep my monthly payments to a minimum haha. My outgoings are already high so I plan to do your last option... use the additional savings as the next deposit.

 

[AndyCupra93]

Fair enough, and you actually raised a good argument for paying lower monthlies - it will help you secure a higher mortgage so worth considering if moving house is on the cards within the lease term!

 

[MrBiggles87]

Fair enough, and you actually raised a good argument for paying lower monthlies - it will help you secure a higher mortgage so worth considering if moving house is on the cards within the lease term!

Yeah exactly, my mortgage is going to double in the next few months, so I need to keep things as tight as possible. Although, on the flip side my little one gets 30 hours free nursery in September, which will free up a lot of cash cause its SO expensive.

 

[Agnes.Surrey]

I usually go for 6 months upfront payments up to aroud £2500. I look at the total cost of PCH, rather than monthly payments. Before I take the deal, I make sure I will be able to cover it from savings in total, if needed.

 

[Harps]

Hi mate sorry to jump in, is that dealer DW Keith, in Ilkley?

Not at all its actually a JCT600 dealership - I'm surprised they don't have the dealership more centrally located to the cities of Leeds or Bradford. The next closest is Huddesrfield, York and Doncaster.