Any Help, Any Advice

salnew

Hi
I'm looking to get another car, as my has broken down I have been on-line and have been looking at the PCP ( I think thats what its called) with the ford dealership. You get a brand new car and after 2/3 years you give it back or get a new one. Has anyone done this, is it any good? would i be able to get this as i have had bad credit in the recent past. but I'm now back on track.
Should i try and get a loan?
i will be getting my car fixed, but as its an old 1984 Golf convertible, its not practical for myself and family anymore, also occasionally i have to drive in to London for work. (when the trains are on strike or doing a long day) so i will be selling this.

Any help or advice would be use full.

Thanks.

jonesMUFCforever

You will be paying £xx of money every month for y number of years but you will never own the vehicle.

What would happen if you lost your job - at least with a personal loan you get the option of selling the car to repay the debt.

Ive_A_Horse_Outside

Sister done this once - she swore she'd never do it again. Paid £199 a month for 3 years and owned nothing at the end of it (unless she gave the dealer 8k....)

Never bought a new car myself - just not worth the money. You can get decent run arounds for 2k or less

salnew

Thanks.
I was thinking the same thing, i will try and save as much as i can and then try and get a cheap runaround.
you confirmed what i was thinking, I will never own the car and paying all that money a month.

drew2k9

It's technically a long term rent in essence, which for some people is good for others it's bad. Me personally, i am in one of those deals at the moment with my car, i don't plan to ever own it as i don't want to pay the lump sum at the end, but i got a great cheap deal with low monthly payments and they have a guarantee written in to the agreement that they will value the car in such a way that it can go towards a deposit if i wanted another car with them in 3 years, but i will be happy to walk away with nothing or to start again if they have decent cars at good prices.

so it is really down to you.

but job security is paramount, and also having bad credit will probably sink that ship before it even sets sail! and you usually need a guarantor.