PCP Advice

MORPH3US

Hi guys, hoping someone can help me with advice on PCP for cars.

Have searched the forum and read loads about these but still have some questions.

I have seen the following deal:

Monthly Payment** £99
Customer Deposit £1,159.41
On the Road Price £9,227.55
Retailer Deposit Contribution* £0.00

Number of Payments 36
Optional Purchase Payment † £5,900.00
Amount of Credit £8,068.14
Total Charge for Credit £1,630.86
Total Amount Payable £10,858.41
Total Amount Payable by the Customer ‡ £10,858.41
Acceptance Fee £140.00
Purchase Activation Fee † £95.00
Typical 8.0% APR

Now I only actually want this car for three years and then I am happy to give it back and walk away, I don't wish to buy / own the car at the end...

Am I right in thinking therefore that I don't need to worry at all about the OTR Price, the APR or the "charge for credit" etc

Is it really just as simple as pay the deposit, receive the car, pay 36 x £99 and then nothing else at all to pay?

peterg1965

What car is it? That residual value is very high.

MORPH3US

Smart Car

By residual value do you mean the "Optional Purchase Payment"?

If that's the case, I imagine (and this is what i'm trying to clarify) is irrelevant since as I said, I will be happy to hand the car back.

emmell

What about mileage? If you are going to be in the agreed mileage, ok, but if you go over the agreed mileage I think it can work out expensive.
ML.

mark5

Dont forget the £140 acceptance fee.

It seems to cheap to be true dont it, what are the millage limits etc?

MORPH3US

Thats based on 10k miles.... I would probably pay the extra to take it up to 15k but its not much diff.

zeon999

So you dont want PCP Personal Contract Purchase then you want PCH Personal Contract Hire from what I can make out from what your saying, usually this will work out cheaper for some reason not really sure why.

But I have had cars through PCH in the past from http://www.lease-hire.co.uk they are really good and help out with any questions if your unsure about anything.