PCP / lease for high mileage

Alexdozza

Hi. Just thinking ahead can anyone advise

Currently circs

Nissan note 1.2 petrol on 10,000pa PCP. Monthly 192.00

Skoda Octavia. 1.9tdi 25-30000pa motorway driving.owned outright

This is the most mse effective way for my family at moment. Wife has Nissan for town and kids. I have Skoda for work.
However
Wife and I will need 4x4 for towing. But I still need a reliable high mileage capable car.

Therefore am thinking that I buy 4x4 outright. And the wife runs through day to day. And I look for a new PCP/ lease high mileage deal. When the current PCP expires.

Is there anyone out there that has a high mileage PCP/ lease ( not bothered which ) that doesn't cost a bomb monthly

Nasqueron

I could be wrong here but I thought on PCP you just agree a mileage with the dealer at the start and they use that for the guaranteed value at the end, certainly with mine it was all discussed up front - more miles and lower GV as you'd expect. If you are going PCP and intend to buy the car at the end then the mileage is irrelevant

neilmcl

Nasqueron wrote: »

I could be wrong here but I thought on PCP you just agree a mileage with the dealer at the start and they use that for the guaranteed value at the end, certainly with mine it was all discussed up front - more miles and lower GV as you'd expect. If you are going PCP and intend to buy the car at the end then the mileage is irrelevant

But a lower GFV obviously means higher monthly payments, the car has to paid for somehow.

Alexdozza

Yes you are correct. PCP is agreed mileage and in turn reflected in gfv

However when I looked at high mileage (25k+ ) PCP deals. Before . The costs were obviously high.

I will not be intending on buying vehicle at end as reliability of new is needed for at least one of our. Cars.ans am not fussed n badge

I was hoping someone might be in same boat and have a specialist broker / tips on high mileage deals for new cars

forgotmyname

You need a 4x4 to tow what? Size and weight?
When did you pass your driving test? (or whoever will be towing)

Alexdozza

Horses - 3.5ton. Both have b+e

Nasqueron

neilmcl wrote: »

But a lower GFV obviously means higher monthly payments, the car has to paid for somehow.

Deposit + monthly fee + balloon payment = car value yes?

I'm assuming from your post that the GFV = the balloon payment right? With mine I just got them to tweak the deposit so the monthly payments were at a level I wanted (think it was £500 down + £4500) so I could get about £250 a month - it's on interest free and I intend to pay the balloon at the end so whatever mileage rate set is irrelevant - I'm sure OP could do something similar

neilmcl

Nasqueron wrote: »

Deposit + monthly fee + balloon payment = car value yes?

I'm assuming from your post that the GFV = the balloon payment right? With mine I just got them to tweak the deposit so the monthly payments were at a level I wanted (think it was £500 down + £4500) so I could get about £250 a month - it's on interest free and I intend to pay the balloon at the end so whatever mileage rate set is irrelevant - I'm sure OP could do something similar

It's not "irrelevant" at all. The OP clearly has stated that they don't want it to "cost a bomb monthly". By lowering the balloon payment because of the increased mileage then the monthlies will inevitably increase, either that or the OP will have to pay a bigger deposit to compensate.

Of course in the larger scheme of things the overall amount doesn't matter much if the OP intends on keeping the car but the whole point of a PCP is that they defer the big payment till the end, otherwise they may as well opt for a standard HP.

motorguy

Alexdozza wrote: »

Hi. Just thinking ahead can anyone advise

Currently circs

Nissan note 1.2 petrol on 10,000pa PCP. Monthly 192.00

Skoda Octavia. 1.9tdi 25-30000pa motorway driving.owned outright

This is the most mse effective way for my family at moment. Wife has Nissan for town and kids. I have Skoda for work.
However
Wife and I will need 4x4 for towing. But I still need a reliable high mileage capable car.

Therefore am thinking that I buy 4x4 outright. And the wife runs through day to day. And I look for a new PCP/ lease high mileage deal. When the current PCP expires.

Is there anyone out there that has a high mileage PCP/ lease ( not bothered which ) that doesn't cost a bomb monthly

I'm not sure i'm seeing where the need for you to be driving a car on a PCP deal in the future?

Surely, buy the 4x4 outright, dispose of the Note and let your wife drive the 4x4? You keep the skoda for as long as is viable and then replace it at that point?

a 1.9TDI VAG should be capable of 200,000+ miles. If you buy / PCP a new car there is no guarantee of absolute reliability and you will be paying a fortune either in depreciation or financing the depreciation via a PCP.

Also bear in mind full size 4x4s are severe on fuel. A friend of mine has a 3.0TDI Touraeg and gets around 15-20ish on the round town runs. I think he was saying on the short school run in heavy traffic it averages 12mpg. When i'd my X5 even with quite a lot of long runs it only averaged around 27mpg.

motorguy

neilmcl wrote: »

the whole point of a PCP is that they defer the big payment till the end, otherwise they may as well opt for a standard HP.

Thats where i'd be on this - i dont like high miles PCP deals. They are rarely cost effective and you may as well just finance via a loan or HP over an extra year or so and have no restrictions.

Herzlos

How often do you tow? I'd be inclined to keep both and buy something old and cheap for the towing unless you're doing it a lot. To get to the 3500kg towing you're going to need something that's going to be huge and awful on fuel. All I've been able to find is a Defender or Discovery, maybe a double-wheeled Transit.