Can PCP work out good value for high mileage?

Nasqueron

Rebster wrote: »

Thanks for the thoughts everyone. 30,000 is based on a combination of 20,000 miles commuting, and expected business/personal mileage. In reality this is an overestimate, and is likely to be closer to 25,000, but I quoted 30,000 because if I go with a PCP/lease deal I will be erring on the side of caution to avoid being stung with any excess mileage charges.

A number of you have suggested keeping my current car, but this isn't a suitable option for me for a couple of reasons. First, the main thing I want is some peace of mind that my car will be reliable under such heavy use. While there are no guarantees with any car, I really don't trust that with my current car. It's not under warranty so if anything does go wrong, I'll be paying for it. The other big reason is the size of the fuel tank - it's tiny, and would be filling up every couple of days on my new mileage. As well as all this, as it stands my car is worth a few grand. I'd rather cash in on that and get a bit of equity out of it than run it into the ground to the point it's worthless.

Some of you have also made comments about the length of time spent in the car/spent commuting. Bizarrely, although the distance of my commute will be increasing significantly, the time it takes won't be, thanks to the fact that I'm changing from a heavily congested route to a route with fairly light traffic.

Thinking it all through, I'm currently leaning towards lease rather than PCP, and have seen some good deals about. Will keep looking though!

Do you want to keep the car at the end of the finance?

If so PCP is fine, you only get excess mileage charges for handing it back after the contract ends due to the effect on the GMV. If you don't want to keep the car then the GMV will be low if you're doing 30000 miles a year as the car will have around 75000-90000 miles on it after 3 years which affects the value for the dealer resale.

If you can get 0% finance and want the car at the end I'd say 100% go PCP. If the finance will mean you spend quite a bit more than the car is worth with interest + GMV is pants then I wouldn't go PCP

BeenThroughItAll

Snowflake wrote: »

Hi this is a bit off topic but didn't know how to start new thread. I have a dilemma which is that having searched for prices at Carwow i bought a brand new car and the salesman said if I didn't tell Carwow he would throw in mats (£50 ish) and £25 petrol,so I said OK. However, I could get £50 cash back ( topcashback)and a £20 Amazon voucher. Can I go back on my word or is that a bit cheeky. I kind of feel that a large motoring organisation won't miss £70 whereas it's quite a lot to me.

Eh?

"I bought a brand new car"

"£70 is quite a lot of money"

Seriously?

Bel0612

How comfortable a car is down to personal taste. Citroens are also renowned for their comfort. I would not be unhappy driving a C3 on long mileage journeys.

neilmcl

Bel0612 wrote: »

How comfortable a car is down to personal taste. Citroens are also renowned for their comfort. I would not be unhappy driving a C3 on long mileage journeys.

Congrats for resurrecting a near 2 year old thread, I'd imagine the OP has made his decision by now. :rotfl: