PCP Advice

Tammez

Hi all,

Went to my local Peugeot grage to buy new RCZ for the wife.

Was going to pay 2/3 cash 1/3 on no interest c/c 18months.

The sales guy offered PCP which means the cash can stay in my bank account, although I know that I will be paying for finance which is 7.9%. The money in bank will be handy for hols,emergencies and general peace of mind.

The deal he offered is this;
car price £21700 less discount £20,350 plus 1st service free.
£3k deposit. £267 p/m - 3years Guaranteed valuation £10700.
6000 miles p/a (wife does 3 max).

Accepting that the interest on £17,350 will be written off and we will have the car for minimum of 36 months is this deal any good or are there other pifalls I am not aware of.

Thanks

motorguy

Firstly, i think you're paying too much for the car in the first place.

Look at https://www.broadspeed.com - they put you in touch with the UK dealer who can supply the car at that price. For a RCZ at £21210, they're showing over £3,000 of discount.

Ask your dealer to pricematch - he'll laugh and say they dont match internet prices on imports, however point out that broadspeed supply UK cars from UK dealers. Make it clear you'll shop elsewhere.

Also, its in the dealers interest to get you to use finance as the dealership will get a backhander and the salesman a commission. Factor that in when deciding what to do.

Tammez

Thanks I saw Broadspeed but wondered if they are legit. Seems too good to be true?

motorguy

Tammez wrote: »

Thanks I saw Broadspeed but wondered if they are legit. Seems too good to be true?

Yes, they are legit. They've been around quite a while now.