NSW - 2.8% finance rates on Octavia range

[pologti18t]

Noticed an ad in today's Daily Telegraph for 2.8% finance on the entire Octavia range. 36 or 48 months

[dru]

Would have been better if it was 10 months ago lol. What is usually the catch with these sort of finance rates? Lots of fees? Large exit fees?

[woofy]

It's on the Skoda website.

[bobski]

I'm guessing the dealers do a lot of negotiating on the "monthly payment" trying to get you to pay sticker price.

But if you get a good price and save 6-7% over 48 months, its nothing to sneeze at.

[VAG newbie]

Does anyone have any further detail on this finance rate? Do you have to buy with full RRP? Any other fees and charges involved?

There are a few Octys at heavily discounted price, can I finance them at 2.8%?

[K1W1]

The vehicle has to be SOLD AND DELIVERED between 1 September 2011 and 31 October 2011. That pretty counts out about 90% of potential buyers as dealers have such limited unsold flor stock.
There is nothing in any of the Ts&Cs that I can see that says the vehicle has to be sold at RRP so I assume discounted vehicles would apply provided that they are on the floor ready to go.

[woofy]

From memory its also for business customers, which is me, but I'm not in a position to do anything yet. Richmond Skoda have tonnes of Octys, they got enough stock in to last until Christmas, something like 40 Octys when I was in there a few weeks ago.

[VAG newbie]

My dealer has 3 x 90TSIs with DSG (presumably MY12 as Bluetooth is standard), all with MP (black, beige and silver), brand new unregistered vehicle advertised for $26985 driveaway. I've asked if the 2.8% finance applies to the price, the sales person couldn't tell me, but will ask the finance manager to call me tomorrow. Will be interesting if they will do it. Of course I am still planning to negotiate a bit more, maybe <$25000 driveaway, or maybe free tints, car mats or service vouchers

They also have quite a few 118TSI, RS sedan/wagons and scouts in stock, so quite a few choices. But I must admit the colors are all very bland. Pretty much black, silver, gray and white. Only one blue for the RS that is a bit stand-out.

[VAG newbie]

Bit of updates. Still very mysterious, and I have contacted the dealer twice to ask to speak to the finance manager. Both times he was "busy with another customer" (which is weird, that dealership has always been quiet as they sell only Skoda and Renault), and the sales person promise he'll chase him up to call me back.

So there must be a catch, and the dealer knows how much homework I do so it's impossible to cheat me. I spoke with my accountant as well, he also reckon it's too low to be true. Must have some catches. So far, all we know is it has to he business applicant on a hire purchase for 36-48 months. So you have to have ABN first, and you can't be government, fleet or rental buyer. This has excluded 99% of buyers out there.

Will continue to chase. If anyone knows anything more, please post it up here too.

[K1W1]

Go to another dealer they obviously don't want your business and in the light of the way they are ignoring you you would be stupid to give them any business.

[VAG newbie]

Go to another dealer they obviously don't want your business and in the light of the way they are ignoring you you would be stupid to give them any business.

The problem is, they are the only one offering the Octys 90TSI with DSG at $26985 driveaway. The only other dealer in Brisbane is doing it at $28990. Of course I can always ask them to price match it, the only problem is I am not prepared to pay at that price, but lower, or ask for some freebies (A Golf 90TSI Trendline with DSG is only $27490 driveaway, which hassimilar equipment level. Most people would rather spend the extra $500 to get a VW for better brand image and resale).

But I suppose I can always give the other dealer a call and find out what this 2.8% rate is.

[K1W1]

Both dealers pay the same price to Skoda and I'm sure that the other one will be more than happy to liberate your money from your pocket if you go in and tell them you want to buy a car today and lets talk seriously about the price.

[VAG newbie]

Both dealers pay the same price to Skoda and I'm sure that the other one will be more than happy to liberate your money from your pocket if you go in and tell them you want to buy a car today and lets talk seriously about the price.

Ok, here is the dilemma. My parents are tossing between the Golf 77TSI and Octavia 90TSI. They prefer the former if they have spare cash in hand, but they don't. So they are looking into finance, and the 2.8% is so sweet which makes the Octavia more attractive. If there is no catch, they will go with Octavia, by then, we will sit down and talk price. But if there are a lot of catches, then they'd rather go to a third party financier and get the Golf as it is cheaper and it's a VW, then we won't talk on price on the Octy. (Please don't lecture me about Octy has a bigger engine, better equipment...etc, they don't care! They just want a car that will get them from A to B, and with the handling and safety of Euro cars.)

Personally I still think there is a catch to it. It is a way for Skoda to get people to go to the dealership and sit behind a wheel of a Skoda, then they will appreciate how good it is and will buy it. Why do I think there must be a catch? Because if there isn't, why is it so hard for people including myself to find out exactly what it is? It should be just a simple phone call, but how come with so many VAG expert on this forum, nobody seem to have an answer? I suspect anyone who tries to find out have been put on hold like me.

Anyway, I wish I am wrong, and there is absolutely no catch to it. Skoda just want to clear their 2011 stocks. I'll chase my dealer again, and then the other dealership. I am afraid they will tell me "oh! its Saturday, our finance manager will be back on Monday, and I'll ask him to call you!"

Stay tuned!

[woofy]

The catch from memory is that it's a business hire purchase so it it's not for business use (mine is) they won't be eligible. I could be co poetry wrong but my memory is that it is.

[VAG newbie]

The catch from memory is that it's a business hire purchase so it it's not for business use (mine is) they won't be eligible. I could be co poetry wrong but my memory is that it is.

Updates! The offer is not limited to business buyer. ie. you don't have to have an ABN!

I spoke with finance manager (finally! After a few aggressive work with the sales person). No real catch, but there will be a admin fee of ~$1450, which you have to add in your budget. There is no other hidden costs. You don't have to pay RRP to use it. Negotiate with whatever price you have, then you finance that price. that's it! It's a fixed rate over 36-48 months. You can also tailor the repayment by having different amount of residual/baloon payment at he end of the term.

The only catch is, you have to pick up the car before Oct 31, so you have to be happy with whatever stocked car. So no real choice of color if unavailable (I'm afraid there is only black, white, silver and greys left), and no options if not already fitted. It's just a way for Skoda to clear their MY11 stock in preparation for MY12.

So that settles it. I am bringing my parents to try out the Octy. I hope they'll like it.