PCP vs bank loan

takman

Two main points that jump out at me are:

1. Your worried about the possible cost of repairs on a two year old car, yet are happy to guarantee to loose thousands of pounds in depreciation on a new one. There is no way that repairs on a two year old car are going to be more than the many thousands of pounds you will loose on a new one in the first few years. So that's not a valid reason to buy a new car.

2. Get your savings out of premium bonds as soon as possible and if you don't [strike]waste[/strike] use them on a new car then get them into 5% current accounts and 6% regular savers as soon as possible. Your loosing hundreds of pounds a year by keeping them in premium bonds.

chanz4

I'm just getting rid of my leon 18k new, 1 year later now 9500. I wil be very surprised if you will get that high figure for it, I have seen a few for 15k from dealers on the cupra.


They drop like bombs, also you will be in to negative equity all the time up until the balloon with their pcp

AnotherJoe

The only reason I would like to swap is because the warranty runs out in April of next year and I have already had a replacement gearbox in the vehicle. if that was to come out of my own pocket it would have cost upwards of £2500, not a thought i'd like to think about in all honesty.

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Then as pointed out, since that's a non-reason as you are swapping an absolute certain huge loss (depreciation) for a hypothetical much smaller one (might need repairs) you have no reason at all to purchase.