[GazC]

Hi guys,
I have been thinking of trading my GTE 16 plate in for an Egolf. I currently have 65k miles on the GTE and would be going for an eGolf with just over 10K miles. The GTE is on PCP which is currently in neg equity, however the dealer selling the eGolf is very keen to take it off me and will offer me enough to resolve the equity issue.

The eGolf is a 19plate and comes in standard trim i.e.` no winter pack or heat pump which sucks. I have been given a quite for £374 per month over 4 years on PCP which is not too bad but is £150 more than i pay for the GTE.
I am concerned that the value of my GTE will continue to plummet and i will not be able to get another offer like this again. Do you think that the eGolf will hold its value better for longer as that seems to be the case with most EV's currently? I am also considering the MG ZS EV however i don't think they will be able to offer me enough to cover the equity difference as my car is only being valued at 12500 on Auto Trader and i have 14500 to pay off on the PCP still?

Thanks in advance.

 

[Tooks]

It’s what I did, and have very few regrets.

If the e-Golf suits your needs (and I’m talking about range really), then you’ll find it very easy to live with.

Re the financials, only you can say really whether it’s a good thing and will still save you some money over your current PCP plus fuel, not forgetting to allow for the cost of charging an e-Golf of course.

Residuals wise, I think the e-Golf will probably win out over the GTE longer term, but the e-Golf itself will be competing against the ID-3 at some point and of course all the other newer and longer range stuff coming along now.

If you’re not wedded to the VW brand you could probably do better payments wise with a different brand, many will have some flexibility in pricing, part-ex etc.

Don‘t be driven by the negative equity issue too much, any dealer who wants a sale should be able to cover a lot of that £2k somehow.

 

[GazC]

I have to say that i am leaning towards the MG more and more as it is more car for the money. I guess it will also hold it residual values better as well. It also has got a slightly better real world range than the eGolf. I would love a car with a 250 mile range but that is just not realistic for me financially right now.

I am going to head down to speak to my nearest MG dealer just now and see what they can offer me.
Thanks for your input so far.

 

[dk6780]

The GTE is now at the low cost point of ownership, and unless you need / fancy a change it makes sense to hang onto it as there are many going on reliably with much greater mileage than that.
IMHO the e-Golf is likely to tank in value soon as it will be shown to be out of date in comparison to the ID3 when that arrives. The ID3 will have all of the VW aura, and any issues with it will likely attach in punters mind to e-Golfs.
In terms of new EVs you will have to opt for something unpopular to get the required high trade in value - how about a LEAF40?

 

[GazC]

Had a Leaf 40 which I stupidly sold. Just really want to go back to full EV and love the Golf style and on-road behaviour. Driven the ZS EV as well and it was nice but not a Golf!! At the dealer now waiting to see what he can offer me numbers wise!

 

[Woodulike]

Tooks can probably give you a better insight into gte v egolf driving but the eGolf has a much softer suspension from everything I've read.

I would agree with dk6780 that the gte is at a low point with neg equity, would waiting out your pcp be a better option as at that point the value doesn't matter, you can just walk away if it's not worth the gfv.
I wouldn't agree that the e Golf will tank in value. Golfs hold their value will so I expect the e-Golf will be a popular choice as a second car as EVs become necessary in more cities. It will lose money, cars do, but I can't imagine it will be worse than any other as 100 miles range is a great second car and local run around.

 

[EVJourney]

Do you think that the eGolf will hold its value better for longer as that seems to be the case with most EV's currently?

48 months or 4 years from now, I think any (normal) EV will be worth more than a hybrid style vehicle, 2024 is a long time.

How long do you have left on the PCP for the GTE? Are you going to save £150 * X months in fuel and further depreciation if you chose to pay off the GFV? If you have 18 months left that is £2700 of saving over the eGolf payments minus fuel costs, as an example.

The GTE is on PCP which is currently in neg equity, however the dealer selling the eGolf is very keen to take it off me and will offer me enough to resolve the equity issue.

If they are offering you £14,500 value against the eGolf which covers your PCP remaining, and you commit to a £17,952 spend over the 4 years, what is the GFV payable before the eGolf is yours? Also how much do you estimate it to be worth in 2024?

I am also considering the MG ZS EV

Some reasonable PCH deals on the MG ZS EV, in stock vehicles on a 24 month lease for ~£8k all-in.

 

[GazC]

Just had the verbal quote and it was about 400 plus the chap will email me a proper quote tomorrow.

Ha e still got over 3 yrs left on the PCP with an estimate GFV of £7525 at the end.

As too fuel coat I am currently only paying about £60 per month on fuel but that may increase as I am looking for another job which will involve a commute which I don't currently have at all. (This will be out with the EV only range of the car).

As to how much it will be worth at the end of the agreement I am not that confident that it will be worth the GFV.

My mind tells me to wait but my heart is saying make the move.

 

[EVJourney]

Ha e still got over 3 yrs left on the PCP with an estimate GFV of £7525 at the end.

Ouch, 3 years left so ~£8k to pay, plus the fuel costs which as you said might be £60+ per month, so £2,160, and then you'll be lucky to break even on the GFV, in 2023. Total cost to you over the next 3 years is ~£10,200 plus the increase in fuel if your commute changes..

My mind tells me to wait but my heart is saying make the move.

It seems like a 50/50 good move/bad move, the difference in cost over the first 3 years will be £13,464 for the eGolf minus the costs of the GTE £8,064, so £5,400 more on the eGolf payments, but you aren't going to save that in fuel unless you are spending 120+ per month, and by 2024 the eGolf might only be worth £6-8k given the range and lack of fitted options that help with that.

Seems to me like the GTE is the safer financial outcome, for at least another 12 months, and until you know about your new commute. You might be able to get into an ID3 when VW starting throwing offers around next year.

 

[dk6780]

48 months or 4 years from now, I think any (normal) EV will be worth more than a hybrid style vehicle, 2024 is a long time.

I disagree - it is a short time for the rapidly developing EVs and unless punitive pricing is put on petrol PHEVs will still be able to access pollution-free cities. When the ID3 etc are freely available the market will move further against current EVs, even ones with 50kWh batteries.

As too fuel coat I am currently only paying about £60 per month on fuel but that may increase as I am looking for another job which will involve a commute which I don't currently have at all. (This will be out with the EV only range of the car).

This is a game changer. Will your commute be within the range of the e-Golf or a ZS even in winter? The GTE doesn't have the restriction even if the fuel cost will be higher. It does sound though that you have emotionally moved on from the GTE so perhaps it isn't the thing to push.

 

[Tooks]

With the extra info since I posted, the most sensible thing to do would be to stick with the GTE for now, and in any event wait to see what commute you’re going to be expecting to do.

I do get the heart thing though, but sometimes you’ve got to follow your head!

Fall in love with the GTE again, it’s still a great car!

 

[GazC]

Well the eGolf is still available and the EV ZS quote will come in tomorrow see what happens when that comes in.

 

[GazC]

Some reasonable PCH deals on the MG ZS EV, in stock vehicles on a 24 month lease for ~£8k all-in.

Have you got any links on these at all?

 

[EVJourney]

Have you got any links on these at all?

Here - LINK!

There are a good few around so don't just take this as the only option. Happy to help further if you need/want it/

You can also pick up a 40kWh Leaf for about £5.7 for 2 years, similar size in space terms to the MG.

 

[GazC]

These are all lease deals aren't they as I was really ? for PCP

 

[EVJourney]

These are all lease deals aren't they as I was really ? for PCP

Ah, sorry don't do PCP, interest rates are silly, and the monthlies end up higher.

I assume you are planning to buy the car at the end and keep it long term if you are going PCP?

 

[Tooks]

If you’ve got £2k+ to consider dropping on a lease EV as the up front payment, then that would clear your negative equity on the GTE and provide a small deposit on any other EV on a PCP?

 

[Carty]

I am also considering the MG ZS EV

As some members are already aware, this is the path I decided to take after owning a GTE for over 4 years.
I did have an e.Golf for a 48 hour test drive before test driving the ZS EV and it was exactly what I expected after owning the GTE.
I have owned 4 Golfs and 2 Polo's over the years and found them all to be great cars.
I knew my next car after the GTE would have to be a BEV.
Given our ages, we found getting in and out of a "lowish" hatchback, was increasingly becoming more and more of a problem now.
The GTE is a pretty hard act to follow, would the e.Golf have filled the large shoe's left be my beloved GTE.
Yes - I think it would to be fair !.
I think most people would agree, that after owning the GTE the e,Golf is just a little bit more of a "Basic Golf" in it's looks and equipment level though.
Had VW offered the T.roc in an electric format, which I believe they missed a trick hear O.B.T.H. then that's the path I could have taken.
Thus starts the journey of the MG ZS EV.
Ordered on 23rd June 2019, collected on 6th Jan 2020.
We where using my wife's Fiat 500 for a few months, great .
What do I think of the ZS EV generally as a car, but NOT on a personal basis.
Simply, if you are in the market for an EV with a decent range and have a young family, and requirements that having young children dictates, then the ZS EV is a fantastic choice.
There is no better small sized, better equipped EV at this price point on the market, don't even bother looking.
Does the e.Golf match it for both range and practicality as a family sized car - No.
Are they two completely different beasts - Yes of course they are.
Have I fallen out of love with VW now - No, not at all.
They build great cars, I would have no problem buying another one.
I do love the ZS EV because it's an electric car, pure and simple.
It's what I always wanted, it fitted my personal circumstances and my wallet at the time !.
I really looked after my GTE over the 4 years, and sold it privately at the right time.
The launch price of the ZS EV was just too good of a chance to miss, plus it was cheaper than the e.Golf at the time.
Exchanging your car frequently is an expensive game !.
Try to think with your head and not your heart.
Buy what you need and NOT what you want, would be my advice.
Think about what you are likely to need over the next 3 to 4 years, not the next 13 - 14 months !.
Your wife / family and wallet will thank you for it.
Good luck with your search.
P.S. - You are doing the right thing going for an EV.
What ever your final choice, any EV is a move in the right direction, take it from me .

 

[GazC]

Thanks mate that is really helpful however I think for now I will just have to stay with the GTE until.o know for certain what is happen g with things job wise as that will kinda dictate what happens from now on.

 

[Carty]

Thanks mate that is really helpful however I think for now I will just have to stay with the GTE until.o know for certain what is happen g with things job wise as that will kinda dictate what happens from now on.

Hey ...... Nothing wrong with that Gaz !.
You are already driving a brilliant car anyway mate.
It's not like you are having to put up with a piece of crap.
I never would have changed my GTE for anything other than an BEV.
If I had to keep it, I was really not bothered.
All the other Golf's I had where brilliant, but the GTE really topped the lot.
Driving it for the first time, was my first introduction into the world of EV's - for that I will always be grateful.
Listen wait, then buy an EV when the time is right.
Don't be a "Sheep" and buy one of them so called S.C. Hybrids.
The car you have is WAY better then any of that rubbish.
In this respect, the plug in hybrid of the GTE was way ahead of it's time in 2015.
When the time is right, why not consider selling it privately ?.
It's a good seller, the dealers know, that's why they want it !.
Just delay your plans a little right now.
Remember :- "All good things come to them that can wait".