Is PCP a good idea?

motorguy

fred246 wrote: »

Would you change all your possessions every 2-3 years? Furniture, TV, washing machine, fridge, boiler etc etc. All these items last 10-15 years at least. Why do you want to change things every 2-3 years? Changing your car every 2-3 years does not make sense. You are always on the most vertical part of the depreciation curve. It might work for certain people in the short term, but in the long run it will cost more. People are free to spend money how they like but I do feel that maybe young people in particular seem to think that these contracts are normal and a good idea.

If someone can get a manufacturer supported PCP deal on a new car, and a good discount, it might not run to be much more expensive than running a car from 3-6 years, once you factor in an extended warranty (perhaps), still significant depreciation, maintenance and wear and tear.

And buying a car older than 6 years, whilst you may have lower depreciation, you may have larger running costs.

It will work out cheaper, but there is a price to be put on piece of mind and hassle free motoring.

Most bills these days are paid monthly, so why not your car?

reeac

fred246 wrote: »

The garage could always suck a bit out with a PELA pump. Put a bit of new in. That could fool you into thinking the oil had been changed with a few seconds work.

If the oil change has been done properly I.e. drained for 5 minutes at least with engine hot , then it will be obvious from the clarity of the oil on the dipstick that it's been changed. Anyone who can't be bothered or can't understand such things would be better off with a new car every 3 years. I, on the other hand, own cars aged 10, 18 and 58 years, a tractor aged 33 years and a 29 year old boat.Only the 58 year old isn't on its original engine.

vikingaero

PCPs are a very good way of getting a new car every 3 years. Manufacturers need to sell new cars and use PCPs as a way of doing that and also feeding in used cars into their dealerships

A lot of us don't have mechanical knowledge and need a reliable car to get to and from work. It's very easy for others who are mechanically capable to grumble that a new car isn't necessary. Would you be happy that you waited 3 months to see a consultant and he/she cancelled because their 15 year old car broke down and they didn't know how to fix it?

There are cons to PCPs - damage, mileage limits - it's really about reading the small print rather than rushing in to collecting a new car.

Ultimately I'd argue that PCPs are very good for people in steady jobs with steady incomes - a vanilla lifestyle in effect.

fred246

I bought a brand new car and kept it for 17 years. It only broke down once - in it's first week. The factory had forgotten to attach a hose correctly. Older cars will inevitably become unreliable but not in the timescales that people seem to think from reading this forum.

thescouselander

ERICS_MUM wrote: »

Do you mind me asking what sort of dealer/manufacturer contribution you would 'expect' please ?

I was offered £750 earlier this week, on PCP for an Auris costing £22500. I thought this was very poor but perhaps my expectations are too high ?

Thanks

The list price of the car was just over £29,000 but I got the price down to £25,000 and also got free mud flaps, mats and a tank of diesel.

motorguy

vikingaero wrote: »

There are cons to PCPs - damage, mileage limits - it's really about reading the small print rather than rushing in to collecting a new car.

The damage and mileage limits only come in to effect if you hand the car back at the end of term. Most people trade the car in again.

The last PCP we had, we were all set to hand the car back, but we knew we had to get the alloys refurbed first (£300) and a heavy stonechip ding on the bonnet (prob £250) sorted out first, however we worked it that the dealer we buying the next car off bought it "as it sat" for the GFV price, so we avoided the charges. :T

motorguy

fred246 wrote: »

I bought a brand new car and kept it for 17 years. It only broke down once - in it's first week. The factory had forgotten to attach a hose correctly. Older cars will inevitably become unreliable but not in the timescales that people seem to think from reading this forum.

You're forgetting though that cars an awful lot more complex than they were 17+ years ago - dual mass flywheels, diesel particulate filters, high pressure turbos, high pressure injectors, sat nav units, climate control units, airbag systems, ABS systems, multiple ECUs - ALL of those could result in an easy £1,000 -> £2,000 failure and that can happen from several years old onwards.

motorguy

fred246 wrote: »

Car servicing will be just an oil change and a few checks. If they see a new car they won't bother with the checks. Just tick the boxes. Do you check if they've changed the oil? I expect not. So often they won't even bother with that. So you've paid nothing for them to do nothing!

I call absolute horse !!!! on that, and i'd love to see your proof of it.

Do you really think a main dealer is going to risk losing their franchise doing that?

clayton16749

Thanks for all the opinions on PCP, useful to hear. I'm very much in the camp of I know very little about the mechanics of cars and don't want to be messing about paying for a garage to fix it, let alone fix it myself.


Can anyone recommend a good online broker for these deals - been to a Nissan dealership today and their figures for the Pulsar weren't quite what I was hoping.

ERICS_MUM

motorguy wrote: »

You're forgetting though that cars an awful lot more complex than they were 17+ years ago - dual mass flywheels, diesel particulate filters, high pressure turbos, high pressure injectors, sat nav units, climate control units, airbag systems, ABS systems, multiple ECUs - ALL of those could result in an easy £1,000 -> £2,000 failure and that can happen from several years old onwards.

This is one of my worries. My 1999 Avensis was almost problem free until last year but I know I'd be very very fortunate if my next car lasts that long. (But in 19 years time I'll be in my 80's and might have other worries !)

Thanks again to you all .