Buying a car for a daughter on pcp.

oliverr

motorguy wrote: »

It would be quite rare for a car to be handed back at the end of a PCP deal. Generally you'd trade it in and use the equity remaining as a deposit for next time around, OR pay the balance and keep the car (effectively meaning you're buying a 3 year old car at trade price) OR sell the car and pocket the equity from the deal.

Things would have to have went horribly wrong in the used car market for a car to be worth less than the balloon figure - and if thats the case you'd be glad you didnt buy with cash.

Sorry, think I may of got it a bit confused with a leasing deal as my friend is having at the moment on an A1, aplogies...:o

My point still stands though that you will be less concerned about a few bumps or scrapes (which which will invetiably happen) on an older car than you will on a newer one. With regards to a newer car being safer, it depends which car you choose - a 5 year old Yaris or Polo might be safer than a new C1 or Aygo.

OddballJamie

oliverr wrote: »

Sorry, think I may of got it a bit confused with a leasing deal as my friend is having at the moment on an A1, aplogies...:o

My point still stands though that you will be less concerned about a few bumps or scrapes (which which will invetiably happen) on an older car than you will on a newer one. With regards to a newer car being safer, it depends which car you choose - a 5 year old Yaris or Polo might be safer than a new C1 or Aygo.

A five year old Polo should be safe enough, reliability? Who knows, still starting from about £4k so not exactly cheap.

I mentioned safety in regards to the comments about pre 2000 small cars, airbags, abs, roll bars, esp, traction were scarce on city cars back then. Compare that to safety features on something like the current Fiesta and it's a different world.

Just to add the C1/Aygo is probably a bad example as the car was developed almost 10 years ago and hasn't changed much structurally since then.

motorguy

oliverr wrote: »

Sorry, think I may of got it a bit confused with a leasing deal as my friend is having at the moment on an A1, aplogies...:o

My point still stands though that you will be less concerned about a few bumps or scrapes (which which will invetiably happen) on an older car than you will on a newer one. With regards to a newer car being safer, it depends which car you choose - a 5 year old Yaris or Polo might be safer than a new C1 or Aygo.

Being in the motor trade full time at the time i was able to step my son up through several cars over the course of 18 months at no cost (just using profit on the previous one) to the current car he drives, probably worth around £4500 and no finance. He had one accident - ended up in a womans front garden in a Renault Megane, but fortunately did little damage to the car - second hand bumper, second hand headlight and back on the road the next day. Hes scuffed the odd alloy too.

By contrast his girlfriends parents bought her a new Fiat 500 when she passed her test on a PCP deal. Shes had no accidents, no near misses, etc, etc.

Different parents handle it differently i guess.

oliverr

motorguy wrote: »

By contrast his girlfriends parents bought her a new Fiat 500 when she passed her test on a PCP deal. Shes had no accidents, no near misses, etc, etc.

...yet:rotfl:joking of course still think if it was my son/daughter I would feel easier knowing that it was just a 3 or 4 grand car should something happen than something 9 grand plus.

I understand what the OP means safety wise and if I had a son or daughter that would be important too, I wouldnt put them in something old, falling apart and with only 1 airbag working, but there is a balance between something brand new and something as old as the hills.

oliverr

OddballJamie wrote: »

I mentioned safety in regards to the comments about pre 2000 small cars, airbags, abs, roll bars, esp, traction were scarce on city cars back then. Compare that to safety features on something like the current Fiesta and it's a different world.

Yep, I quite agree I remember seeing a Fifth gear the other year and they were testing modern cars with ESP and an old 12 year old Yaris and they starting weaving it at 70 mph and the result was well... shocking to say the least.