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  • FIRST POST
    • RDG
    • By RDG 5th Dec 14, 1:59 PM
    • 210Posts
    • 129Thanks
    RDG
    PCP finance Calculator Spreadsheet - Comments opinions
    • #1
    • 5th Dec 14, 1:59 PM
    PCP finance Calculator Spreadsheet - Comments opinions 5th Dec 14 at 1:59 PM
    Guys,

    Having recently been looking for a new car for Mrs RDG I found it frustrating that I couldn't quickly calculate the cost of PCP finance, ie the interest paid over a year etc. So Ive built a spreadsheet on Google Docs which I think works but Id like some opinions or people to run it against real quotes.

    Heres the link
    https://docs.google.com/spreadsheets/d/13IFKCBQ7v5-Tw1AfDOW_g5mmpLWMvNw1nnypf8Xw-Z8/edit?usp=sharing

    The intention is to then add comparisons to bank loans and other financing options, although setting the GMV to 0 should give you a HP option straight off.

    Thanks in advance.
Page 1
    • Paully232000
    • By Paully232000 5th Dec 14, 2:15 PM
    • 2,072 Posts
    • 1,436 Thanks
    Paully232000
    • #2
    • 5th Dec 14, 2:15 PM
    • #2
    • 5th Dec 14, 2:15 PM
    I used this
    http://www.pcpcal.co.uk/

    when i put in my actual figures from the car I have it came out with the same figures as your chart, and both within a few £ of what i actually pay per month

    Would it be good to have a total amount payed over the life of the agreement (or is it there and I just didn't see it )
    Last edited by Paully232000; 05-12-2014 at 2:17 PM.
    • RDG
    • By RDG 5th Dec 14, 2:19 PM
    • 210 Posts
    • 129 Thanks
    RDG
    • #3
    • 5th Dec 14, 2:19 PM
    • #3
    • 5th Dec 14, 2:19 PM
    Thanks Paully glad its working for more than just the one example I have.

    Thats a good point Il add that to the top.

    Yeah i found that calculator as well but I wanted to see what the remaining sum was at different points. That way you can see when you might be out of negative equity.

    My intention is that I can use it on my phone when at a dealers to see what effect changing the deposit amount will be, and seeing what target monthly payments to suggest when negotiating.
    • Paully232000
    • By Paully232000 5th Dec 14, 2:21 PM
    • 2,072 Posts
    • 1,436 Thanks
    Paully232000
    • #4
    • 5th Dec 14, 2:21 PM
    • #4
    • 5th Dec 14, 2:21 PM
    Sorry should have said, it is great chart and gives so much more info than the website above.
    • thebritishbloke
    • By thebritishbloke 5th Dec 14, 2:37 PM
    • 1,460 Posts
    • 585 Thanks
    thebritishbloke
    • #5
    • 5th Dec 14, 2:37 PM
    • #5
    • 5th Dec 14, 2:37 PM
    Put my details in and it came out perfectly as far as I can tell (give or take a few pence).

    Great work, really interesting to see how much gets paid to what each month.
    Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.

    ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.
    • RDG
    • By RDG 5th Dec 14, 2:50 PM
    • 210 Posts
    • 129 Thanks
    RDG
    • #6
    • 5th Dec 14, 2:50 PM
    • #6
    • 5th Dec 14, 2:50 PM
    Right, its taken more work than I would have liked but the total interest for the term now works. Its my fault for trying to make it so you can do anything between 1 and 60 months.

    britishbloke yeah it is really interesting to see how these things actually work. Obviously paying interest on the full loan amount including the final payment for the term makes the sums more difficult than a simple loan.

    If theres any other information people think will be useful then let me know and Il try and incorporate it.
    • kuohu
    • By kuohu 5th Dec 14, 3:03 PM
    • 870 Posts
    • 484 Thanks
    kuohu
    • #7
    • 5th Dec 14, 3:03 PM
    • #7
    • 5th Dec 14, 3:03 PM
    My intention is that I can use it on my phone when at a dealers to see what effect changing the deposit amount will be, and seeing what target monthly payments to suggest when negotiating.
    Originally posted by RDG
    Excellent work, I bet the sales men/women love you!
    DFW Nerd 035
    • thebritishbloke
    • By thebritishbloke 5th Dec 14, 3:39 PM
    • 1,460 Posts
    • 585 Thanks
    thebritishbloke
    • #8
    • 5th Dec 14, 3:39 PM
    • #8
    • 5th Dec 14, 3:39 PM
    Right, its taken more work than I would have liked but the total interest for the term now works. Its my fault for trying to make it so you can do anything between 1 and 60 months.

    britishbloke yeah it is really interesting to see how these things actually work. Obviously paying interest on the full loan amount including the final payment for the term makes the sums more difficult than a simple loan.

    If theres any other information people think will be useful then let me know and Il try and incorporate it.
    Originally posted by RDG
    The best thing to do when buying a new car is to go in on the last day of a quarter and be prepared to sign for a car there and then. Trust me, they will sell the car to you at an insane discount just to meet their quota. Quarters end at the end of March, June, September and December.

    The next point is to go in and talk like you're going to be buying the car in cash. Negotiate down the cash price, then when you decide you're at a figure you're happy with, ask about their finance options. They'll sell the car to you at the same price.
    Excellent work, I bet the sales men/women love you!
    Originally posted by kuohu
    I don't think they're a fan of any MSE'er, haha.
    Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.

    ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.
  • S1XGD
    • #9
    • 14th Jun 15, 12:11 AM
    • #9
    • 14th Jun 15, 12:11 AM
    RDG thanks for the spreadsheet. It proves I'm not going bonkers!

    Been researching a new Peugeot 308 for 2 weeks now and have a pretty sound idea of the deals out there (my domestic director is due to change her 208 after 36 months in a PCP deal). After a few telephone conversations with one dealer I visited today for a test drive.

    Upshot is the monthly figures didn't stack up against the car we spec'd even after accounting for our deposit, dealer discount, Peugeot loyalty bonus and 0% finance. Your spreadsheet confirms this and I've even sense checked it against the Peugeot dealers own calculator. If need be I'll use this as a stick to bring them round to my way of thinking
    • RDG
    • By RDG 6th Sep 16, 2:54 PM
    • 210 Posts
    • 129 Thanks
    RDG
    Just a quick update for those that use this and it appears to be a lot of people judging by the number of access requests Ive had since I took it down.

    Ive taken the sheet down temporarily as through over a years use it had been modified by others quite a bit and had lost some of its functionality. I also noticed that there have been occasions when multiple users have tried using it at the same time which doesnt work. So Im looking at using google forms to create an input and out put system which should let multiple people use it at the same time.

    Again if anyone has any ideas about how to improve it once it is up and running again please let me know.
    • future 252
    • By future 252 8th Sep 16, 12:54 PM
    • 32 Posts
    • 5 Thanks
    future 252
    Hi RDG, I wonder if you could give me access to your PCP calculator? I tried following your link but it won't let me amend the figures at all, appears to be 'read only'.
    Thinking of changing my car but have no idea what PCP payments might be and want to be armed with some info before I step anywhere near a dealer! Thanks in advance
    • dkz73
    • By dkz73 9th Oct 16, 9:41 PM
    • 1 Posts
    • 0 Thanks
    dkz73
    Good work!
    Just about to enter into a PCP agreement and had generally read up on it, also found some online calculators but was determined to fully understand all those figures. This spreadsheet did the trick. Now I have a solid understanding of how PCPs work. Many thanks.
    • DeNig
    • By DeNig 7th Feb 17, 2:28 PM
    • 1 Posts
    • 0 Thanks
    DeNig
    Works a treat
    Many thanks I can see the calculations you have used and when I input data from a very recent car quote the monthly payment was spot on.
    • sconibeer
    • By sconibeer 5th Oct 17, 11:42 AM
    • 1 Posts
    • 0 Thanks
    sconibeer
    PCP spreadsheet request
    Hi RDG

    Is there any way I can now access your PCP spreadsheet. Reading the comments, it's seems to be exactly what I'm looking for, but I also notice you've taken it down.

    Thanks in anticipation
    • Lucky Duck
    • By Lucky Duck 6th Oct 17, 10:10 AM
    • 126 Posts
    • 72 Thanks
    Lucky Duck
    The next point is to go in and talk like you're going to be buying the car in cash. Negotiate down the cash price, then when you decide you're at a figure you're happy with, ask about their finance options. They'll sell the car to you at the same price..
    Originally posted by thebritishbloke
    Probably worth noting that this advice is out of date, most manufacturers will provide a deposit contribution for using their finance schemes.
    • RDG
    • By RDG 17th Oct 17, 12:58 PM
    • 210 Posts
    • 129 Thanks
    RDG
    Just an update regarding the calculator.

    It was created on a google account linked to my job, however I have now moved firms and it appears that my old account has been deactivated.

    I have a copy of the calculator in excel so may put it up again, however it is not a simple case of copying up as the excel sheet is basic and not user friendly. There are also more calculators out there when you google them now than their were back in 2014 so im not sure if it will be that useful to people.
    • RDG
    • By RDG 25th Oct 17, 4:23 PM
    • 210 Posts
    • 129 Thanks
    RDG
    Ive just uploaded my spreadsheet version to one drive so everyone can download it and use it as they wish. This should be better than the google version as if you download a copy you dont have to worry about others overwriting your work

    https://1drv.ms/f/s!AiLUG4mohy2ObESU_NCkeJPPQEY

    Hope this helps.

    Any questions let me know
    Last edited by RDG; 25-10-2017 at 4:37 PM.
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