JordyCarter
Member
Registered: 14th Mar 10
User status: Offline
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Imagine doing this. Literally just throwing money into thin air. Eyes bigger than your belly.
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Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
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Not an issue if you can afford it. Why not enjoy it. Too many Jews on this forum.
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mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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Lots of jealousy is the problem
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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Everytime I've worked it it it's almost always cheaper to get a loan, buy it outright and sell after 3 years than take PCP / Finance (on anything under £40k).
The only difference is the monthly payments. For example an Evoque is £3k cheaper over 3 years to take out a loan buy it than PCP but the monthly payments are £600 as opposed to £350. Only idiots buy something based on the monthly payments alone though.
[Edited on 11-09-2013 by A2H GO]
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John
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Registered: 30th Jun 03
User status: Offline
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Over the 3 years, depending on how much you want spare a month and how much you want to appear to have a bit of cash, an extra £250 a month is a lot. Easier to take the 1k a year hit than to pay the extra every month.
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mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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Yep much rather £350 going out my account every month than £600.
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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quote:
Originally posted by A2H GO
Everytime I've worked it it it's almost always cheaper to get a loan, buy it outright and sell after 3 years than take PCP / Finance (on anything under £40k).
The only difference is the monthly payments. For example an Evoque is £3k cheaper over 3 years to take out a loan buy it than PCP but the monthly payments are £600 as opposed to £350. Only idiots buy something based on the monthly payments alone though.
[Edited on 11-09-2013 by A2H GO]
I do agree slightly but a car depreciates throughout its life
So I would sooner have £250 a month to enjoy life rather than spending it on the car - yes over the term the car ends up yours but you have spent 9k extra for that which is likely to be the balloon payment on a PCP
For me PCP helps absorb the depreciation of the car
There is no right or wrong but it always the case that people who are against PCP think its the devil when in fact the majority of new cars are on PCP - who can afford/justify 20k - 40k for a car outright
as always its down to the individual/circumstances etc
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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I'm not against PCP at all, I just want the cheapest way to get the best car (mainly because I'm a tight git  ) and whenever I've done the math it's rarely turned out to be PCP.
Plus a lot of people can afford 20-40k cars outright as when you get to that stage you've usually got a car with a fair amount of equity in it and just pay the difference (unless you've been on PCP all your life).
[Edited on 11-09-2013 by A2H GO]
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3CorsaMeal
Member
Registered: 11th Apr 02
User status: Offline
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quote:
Originally posted by John
So you've spent £100 a month to drive about in that (or an old escort) for 7 years, never sure if it will start that day or not.
I can definitely see how that's better.
Because i own the car and have loads of parts, so still have about £4k of that £9k
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John
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Registered: 30th Jun 03
User status: Offline
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quote:
Originally posted by A2H GO
Plus a lot of people can afford 20-40k cars outright as when you get to that stage you've usually got a car with a fair amount of equity in it and just pay the difference (unless you've been on PCP all your life).
Not really. If you've bought a 20-40k car, kept it for 3 years, it'll be worth what, half? So you then need another 10 or 20k just to stick down again to just lose. Although some people will do that, I don't think it's the norm.
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Hammer
Member
Registered: 11th Feb 04
User status: Offline
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You struggle to buy a car off a dealership nowadays, they don't want to sell things outright for you to keep it for 10 years and give them no repeat business through the doors.
From personal experience some of the deals are excellent but at the end of the day you jot down the figures and make an informed decision based on them, there are very few wide ranging variables to take into account.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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Yep. Cheapest way of getting a new car is financing it, not buying it outright.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by John
quote:
Originally posted by A2H GO
Plus a lot of people can afford 20-40k cars outright as when you get to that stage you've usually got a car with a fair amount of equity in it and just pay the difference (unless you've been on PCP all your life).
Not really. If you've bought a 20-40k car, kept it for 3 years, it'll be worth what, half? So you then need another 10 or 20k just to stick down again to just lose. Although some people will do that, I don't think it's the norm.
Depends if you're sensible with what you buy and don't go spending £20k on a brand new Vauxhall.
If you really must have a brand new car you're obviously not going to be bothered about depreciation, in which case PCP is probably the best option.
Can you get PCP on 'non-new' cars?
[Edited on 11-09-2013 by A2H GO]
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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quote:
Originally posted by A2H GO
Can you get PCP on 'non-new' cars?
[Edited on 11-09-2013 by A2H GO]
Yes, my first civic was a year old and I had PCP on it.
Lotus Elise 111R
Impreza WRX STi
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by Kyle T
quote:
Originally posted by A2H GO
Can you get PCP on 'non-new' cars?
[Edited on 11-09-2013 by A2H GO]
Yes, my first civic was a year old and I had PCP on it.
I'd guess the deals aren't as good though?
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makincorsac
Member
Registered: 13th Jul 11
Location: (•͡_ •͡┌П┐
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Worth having if u can live with the fact that it isnt really yours,
Definatly is worth having if u fancy not having to sell it in the end after four years.
100% worth having if you just fancy a new car with no hassle, poverty spec or not a BM is a BM and will be better than your neighbours Kia Picanto.
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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quote:
Originally posted by A2H GO
quote:
Originally posted by Kyle T
quote:
Originally posted by A2H GO
Can you get PCP on 'non-new' cars?
[Edited on 11-09-2013 by A2H GO]
Yes, my first civic was a year old and I had PCP on it.
I'd guess the deals aren't as good though?
Probably not, I only had the car for two months then traded for a type r self funded (loan) so it was a financial cluster fuck regardless
Loans are the way forward for me from now on, I can't settle into one car for three years or whatever.
Lotus Elise 111R
Impreza WRX STi
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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quote:
Originally posted by makincorsac
100% worth having if you just fancy a new car with no hassle, poverty spec or not a BM is a BM and will be better than your neighbours Kia Picanto.
Doubt it, they have 7 year warranty and you don't 
All the haters saying £250-£350 per month buying something PCP is a waste of money. I'd like to be able to waste that amount of money on a fancy car.
At the end of the day, if you can afford a car and do it any which way, you're doing well and deserve everything you work hard for...
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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And also, if you default on PCP, do they not just take the car back, rather than your house, TV etc, like a loan, for example, as technically the "PCP loan" is secured against the car.
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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this has been done to death so many times
People will not agree on PCP being an attractive option
I would suggest that the OP needs t be comfortable with PCP
Once they are there a good deals to be had but its very much by dealer and its hit and miss
One thing for sure is the deals do not last long
Within 4 weeks our deal was removed
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BYRON
Member
Registered: 1st Jun 04
User status: Offline
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Can get a new M5 for £480 all in a month. £5950 down 24/16k. Unbelievable value.
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DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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quote:
Originally posted by John
So you've spent £100 a month to drive about in that (or an old escort) for 7 years, never sure if it will start that day or not.
I can definitely see how that's better.
But those people who have BOUGHT their cars also have something at the end of it..
PCP looks nice on paper but you're only renting the car, its never yours..
If driving a brand new car gives you a boner then go for it  
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John
Member
Registered: 30th Jun 03
User status: Offline
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I didn't say I had a brand new car, currently I have a 10 year old one and a 16 year old one.
You've clearly not done any sums though so ok. I can never make PCP work out for me but I can see how it does for some people, especially if you catch a good deal.
In 3CM's case, I would much rather drive a new rented car about than the corrado/escort and be able to say I owned that at the end.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by John
I can never make PCP work out for me but I can see how it does for some people, especially if you catch a good deal.
Same. Until I see a spreadsheet comparison prooving otherwise I'll stick to what I know.
The only possible scenario I can see PCP costing less is if you have little/no deposit and absolutely must have a brand new car.
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
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Or you need to make some company income disapear 
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