Do I change my car?

DrEskimo

motorguy wrote: »

Why?

I think the consensus is its a fairly bad idea irrespective and not worth the hassle.

He might be getting or end up getting The Best Deal On Earth with Skoda but hes still going to be out £,£££s for little or no advantage.

I agree, but whether you or I think the Skoda is better or worse is largely irrelevant. It's a subjective decision based on what the OP wants or needs.

However, the OP needs to weigh this up against the cost to change, and currently is only viewing this in terms of the monthly figures. I was merely going to take the time to show them just how expensive it is by looking passed the arbitrary monthly figure and detail what the actual cost is. At least then the OP can make an informed decision on whether changing is the right decision for them.

You've assumed the cost will be large (and I would bet it is too), but without the details we can't know. If nothing else, it may be informative to the OP.

lopsyfa

BIGEYE wrote: »

Monthly repayments on the Tiguan £435 (paid a good deposit)
Trade in value of the Tiguan £23626
Outstanding finance on the Tiguan (early settlement) £18930
Trade in balance £4696

Cost of Skoda £29498
Finance repayments £418 pm (I'm sure I can get it under £400)

It is not actually cheaper. You are borrowing an extra £10598 to go from the Tiguan with VW badge to the Skoda with less desirable badge. It doesn’t even matter if it if PCP or HP, this doesn’t make any financial sense.

I am assuming to get the monthly figure, you either need to add more deposit to the positive equity in the Tiguan or take the loan over a longer term like 5/6 years. If you throw the extra deposit as an overpayment on the Tiguan, you can also get the monthly payment down below £400pm.

Herzlos

BIGEYE wrote: »

Ok, here's my dilemma. I have a 2018 Volkswagen Tiguan 2.0 TDi BMT (150bhp) 4Motion R-Line 5d DSG, with 10718 miles on the clock. Fantastic car. However, my monthly payments are quite high.

I am now looking at a newer car, which is the Skoda Kodiaq 2.0 TDI 190 Sport Line 4x4 5dr DSG.

The Skoda gives me a newer can, 5000 miles on the clock, bigger engine, reversing camera, electric tailgate, lower monthly payments.

I would lose the full leather seats, and would extend my finance by 1 year.

Do I change or not?

The reduction in monthly payments is down to extending the finance for a year; you're paying about an extra £5k to change car.

I'd leave it alone.

BIGEYE

Glad I came here. Now convinced to stick with my Tiguan. Thanks all for the replies.