PCP from BMW. Is this right?

Cornucopia

pablopistachio wrote: »

Thanks that's a bit of an eye opener! I'm self employed so could look at a business lease.

Can I ask where you went to find those rates?

Lease rates can be extremely competitive, and whilst it's not quite the same as a PCP, it's certainly worth comparing.

https://www.bmwbusinesspartnership.co.uk/bmw-offers/

£400 gets you a lot of car...

BMW 640D SE COUPÉ AUTO
£409pm + £1227 deposit/10k miles pa/4 years

takman

pablopistachio wrote: »

I've always bought cars with PCP...

So you have bought cars with PCP without understanding how it works and have only just realised you pay interest on the full amount. I bet that was a bit of a shock!.

I bet alot of people don't know how they work because they just see a shiny new car and a monthly payment they can afford. If people did a bit of research into finance before they took it out I bet some of those people wouldn't do it once they realise how expensive it really was.

Cornucopia

takman wrote: »

I bet alot of people don't know how they work because they just see a shiny new car and a monthly payment they can afford. If people did a bit of research into finance before they took it out I bet some of those people wouldn't do it once they realise how expensive it really was.

What's the difference between "a monthly payment they can afford" and "how expensive it really is"?

Just curious on the maths.