Yes. And 12.5k over 3 years does sound a lot.
If I were to go with IMG instead like you said with no extras, if I assume for a minute that they didn't give me a reduced monthly rental price for an extra year, say, that I extend by, the total cost goes to £10,404. So just under £2,000 less.
I bought my car last year for £17,990 (64 reg / MY14). I've done just under 6,000 miles in it so far since I got it (and also new clutch etc but that was all free under warranty).
It's going to need 2 new front tyres before its MOT. If I go PS4S, that's £360.
In that time depreciation seems to have hit this car pretty hard and now it's valued at around £14,500 under private sale. Might be worth more considering the fact that it has so few miles and has a couple of extras like sunroof and the convenience pack (that I didn't think was included during MY14?).
So for the past year of having my car the depreciation has cost around £3,000-£4,000 and new front tyres. Plus it'll need MOT and service in August.
So around £4,600 I've lost on this car in a year. If I assume that depreciation hits harder once the MK4 releases, after 3 years I could assume that this rate would be sustained. Looking at 2011
Cupra's now, they're going for under £10,000. I can only assume that will be the same for mine in a couple of years.
At the end of next year I could realistically have my loan paid off (much earlier than the 5 year loan I signed up for), at which point I'll have a car worth around £10,000-£11,000 I would think.
Does anyone else think that this sounds accurate?