Volkswagen is hoping to keep the Golf at the top of the UK sales charts for another month or two with a new PCP finance offer from Volkswagen Finance.
The company is offering a £1,500 deposit contribution on any new Golf (excluding e-Golf and Golf SV models) sold with a personal contract purchase (PCP) from Volkswagen Finance. In addition, the first two scheduled services are included at no cost. The APR is 4.9% representative (see below), which is not bad – but not exactly amazing – in the current car finance market.
- Brush up on your car finance jargon with The Car Expert’s excellent glossary
- The Car Expert explains exactly how a personal contract purchase (PCP) works
The featured example of the Volkswagen website is for a specific model, priced at £199/month for four years with a customer deposit of over £4,500. However, you can choose a deposit and term to suit your needs and don’t need to follow what the salesman wants.
Orders must be placed by 24 July and the cars delivered no later than 30 September. Bear in mind that number plates change in September, from the current “17” plates to the new “67” plates. The dealer will probably want you to take delivery of your car before then (August is a notoriously poor month for new car sales), but you are not obliged to do so if you’d rather wait a few weeks for the new number plates. The newer plates may also help your resale value if you’re not planning to keep the car for more than three years.
The Volkswagen Golf has just been updated, with improved safety technology like autonomous emergency braking across the range. A colour touchscreen infotainment system is also standard on all models, along with other upgrades and improvements. Be aware that there may still be some stock of the pre-facelift model about, so a dealer may be trying to sign you up for the old model rather than the new one. If that’s the case, you should be negotiating for a much better deal than the official offer.
The offer applies to nearly all models in the Golf range, including the GTI, GTD, GTE and R models. Only the e-Golf electric model and Golf SV are not invited to the party.
The Car Expert says… always check the fine print
The dealer will probably refer to the finance deal as a “Solutions” plan. That’s Volkswagen’s name for a personal contract purchase.
The deal is advertised with an APR of 4.9% representative. That means that the actual APR you are offered may not be 4.9%, depending on how much deposit you’re putting in, how much you’re borrowing and for how long. But it should be pretty close to that figure.
Excess mileage fees, if you underestimate your annual driving requirements, are likely to be about 10p/mile. That’s £100 for every 1,000 miles you go over your limit. The advertised examples are based on 10,000 miles per year, which is good – many brands are now using 6,000 miles per year to make the monthly payments lower, but that’s less than most drivers will cover in a year.
The finance deal only applies to new cars, which does not include dealer demonstrators or pre-registered cars. The finance offer is provided through Volkswagen dealers by Volkswagen Financial Services. If a dealer offers you a finance deal that does not match these details or from another lender, it is not part of this offer.
The free servicing offer covers the parts and labour on the first two scheduled services (as set out in the owner’s manual). Any work required over and above that will be at your own expense.
As with any car purchase, work out your budget before you visit the showroom and don’t be persuaded to go over it – regardless of what the smiling sales executive suggests. They don’t have your best interests at heart, but The Car Expert does!