Anyone used PCP (Personal Contract Purchase) to buy a car?

hardynr

Hi! I have just had a quote and got accepted for finance from drivewithus.net but I am also concerned that there is a lack of information about this company.

Their website is very nice and well done but has anyone used them?

I'm looking at a PCP deal on a Seat Leon 2.0l TDI Stylance which saves more than £2000 on list price. If I get it over 36 months i will pay approx £240/month and the car will be £7000 at the end if I want it.

Does anyone have any experience of PCP deals and any hidden problems etc. previously I have had a personal contract hire so i'd be interested in the +s and -s compared to this.

Thanks for the help,

Neil

hardynr

Can anyone help?

Thanks!

Phoenix79_2

Well....i've got a PCP deal and haven't had any problems with it. Mine is massiveley discounted through work (over 60% discount).

As for your quote, i have never heard of the company. Check out a comparative quote on https://www.lexfreechoice.co.uk to see if its a similiar amount per month

testertrev

Just a few thoughts on PCP.

1. After paying £8640 over three years you still won't own the car.

2 The trade in price generally offered by dealers when you have another PCP
plan at the end of three years is generally higher than you would normally
get on a straight trade in, this is designed to keep you on their PCP Plans
hence permanently "leasing" a vehicle and taking the bulk of the
depreciation costs.

3. Check the small print for excess mileage charges, these can soon mount
up if you are driving a lot.

4. £8640 would buy a good used/nearly new car from one of the car
supermarkets. (I presume the SEAT is what you really want though!)

HTH

hardynr

Thanks for your thoughts guys. As far as the final valuation goes they make it out as if the market value at this point would be more than the figure suggests is this a little misleading?

Would a 3 yr old Leon be worth less than £7000?

Cheers,

Neil

Hillfly

Seat's don't hold their value as well as their VW cousins (despite being much the same cars as part of the VW/Audi group - same with Skoda's).

I have never used PCP but i do know a former colleague's brother in law runs the company www.autographcontracts.co.uk. 2 colleagues have used them and have been very pleased with the deals. Ask for Malcolm.