PCP/HP? Looking for advice on different ways of car purchasing

KSocks

Hello all!
I'm basically looking into getting a newer car as my car right now is about to have it and I've never purchased a new/nearly new car and really feel now would be the right time as I can definitely afford it.
Question is, what are the pros and cons of hp/pcp? I am interested in both and having looked around locally at dealers I can see the benefits of either.
I'd be grateful for anyone's opinion on this or experience with either or even any other suggestions for buying a car!
Thanks all!

motorguy

KSocks wrote: »

Hello all!
I'm basically looking into getting a newer car as my car right now is about to have it and I've never purchased a new/nearly new car and really feel now would be the right time as I can definitely afford it.
Question is, what are the pros and cons of hp/pcp? I am interested in both and having looked around locally at dealers I can see the benefits of either.
I'd be grateful for anyone's opinion on this or experience with either or even any other suggestions for buying a car!
Thanks all!

HP you own it at the end of the term, PCP you've a big balloon payment at the end of the term.

If you like the idea of changing your car every three years then PCP is popular.

If you want to buy something and run it for 10 years, take out an HP agreement.

jimjames

motorguy wrote: »

HP you own it at the end of the term, PCP you've a big balloon payment at the end of the term.

If you like the idea of changing your car every three years then PCP is popular.

If you want to buy something and run it for 10 years, take out an HP agreement.

If you want to own it then you could look at a loan from a bank etc. You may find a better rate than the dealer is offering.