Considering a PCP deal

BeenThroughItAll

rs65 wrote: »

Whatcar has the retained value of the 1.2TSi SE at 49% after 3 years therefore, using £10k, 51% (or £5100) depreciation.

It was an illustration. I did point that out.


I wasn't using a specific car as an example; if I were, I'd have used real figures for the lease cost as well - and for a car which loses more value over 3 years, the lease cost will be higher.


If you want to play this game, find a 10K car over 3 years with no deposit which includes 10K miles a year for £120 a month.

ratrace

redrabbit29 wrote: »

For years now I've had old cars, and the one I have now is a Y reg Ford Focus with 95'000 on the clock.

Last month the clutch was replaced - for £350
This month the wheel bearings + break pads were replacing - for £305

The MOT is in July and it has failed both times before which needed repairs.

The car is solid but is just needing new parts through wear and tear.

My Focus costs £225 a year to tax
It's a 1.8L petrol and guzzles petrol for fun

PCP

I'm 30 and work full time, doing a range of shifts in a very responsible job. The car is pretty important to commute to/from work, with no easy public transport options.

I've been considering a PCP deal for around £160 a month. Free insurance for the first year, and trade it back in after 4 years. I can get a VW polo for this price, 1.2. High MPG and £20 a year tax.

I've previously decided against it as I don't like the idea of paying every month for years and years.

My student loan (costs about £180/month) is about to be fully paid off. I was looking forward to having more money.


OTHER OPTIONS

Maybe PCP is more economical and a wiser investment. Rather than patching up an old car, worrying about repairs, then gettnig to work, breaking down, then replacing it with another old car in the future.

I also considered a loan and getting a nearly new car. But then you still have MOT's to worry about, no free insurance, the loan, then in a few years all the same issues.

I'm not sure what to do, not in a major rush so have time to consider the options.

Thanks everyone

If it was me i would forget the pcp deal

go for something like this

http://www.autotrader.co.uk/classified/advert/201411159009571/sort/default/postcode/bd37el/usedcars/radius/1500/model/fabia/make/skoda/page/1/onesearchad/used%2Cnearlynew%2Cnew/maximum-mileage/up_to_20000_miles?logcode=p

(its a low mileage)

Ive a skoda fabia and they are really reliable and the parts are cheap from your euro carparts

Just did a full service on mine including Castrol magnatec oil,oil filter, air filter pollen filter fuel filter spark plugs including labour all for £70 including stamping the book

could of saved the labour cost by doing this all by my self (did a course at college a while back) but its to cold and wet this time of year

i wouldn't recommend the PCP route after getting advise from the good folk on here look at the costs

Monthly payment
Insurance
gap insurance
servicing at the main dealers (rip off)
tyres and brakes - (depending on mileage)
then pay over the nose for any damage the car has had over the 4 years
No Car! after the deal ends


good luck with whatever you decide

OddballJamie

19k in seven years, I bet the engines never even got warm.

ratrace

OddballJamie wrote: »

19k in seven years, I bet the engines never even got warm.

I bought mine 2 years ago from an 70yr old lady who had to give up driving due to ill health

2005(55)
29k on the clock
1 owner
full dealer history
timing chain

i look after her very well treating her to oil changes every 5 -7k, polish every 6months (mobile valeted:rotfl:)

all for £2650 bargain

checked the price on if i sell now can still get £2000 easy for her

Ps: Mine takes around 5-10 mins to warm up in this weather lol

might sell next year for the newer shape but she really is cheap car to run and drives really nice and solid