PCP - First time buyer

geek1981

Thinking about buying new car on PCP as i like changing cars 3 years. It's the first time i'm getting a PCP and have read many threads about PCP on this forum i found useful. Still have couple of more questions:

1. I found broker4cars don't charge you excess mileage penalty as they adjust the GFV accordingly. They've told me GFVs are set before the contracts signed for specific mileages and it helps in case circumstances change and you need more miles. That sounds too good, but what would be the catch? Can't find anyone else doing this.

2. I understand the interest is charged on the purchase price minus GFV value, Are GFVs always set based on mileage?

3. Nissan Qashqai - How good are they retaining their value for n-tec specs? Anybody recently completed lease on one of those just to get a clear picture?

Cheers!

BadgerFace_2

geek1981 wrote: »

2. I understand the interest is charged on the purchase price minus GFV value, Are GFVs always set based on mileage?

Wrong, it's charged on the whole amount including the GFV.

That chunk of money is still financed, it had to come from somewhere and it's not free.