Pcp advice

motorguy

Baileyuk wrote: »

Hi guys,
I wondered if I could seek some advice?
Our car has sadly died and we need to replace it.
We are looking for a family car with plenty of boot space and reliable.
Have been weighing up the options but an now totally confused!
Option 1 - Buy a 2nd hand car such as a focus or astra. Our car is worth nothing on a trade in so would be looking at using a 0% credit card to the value of 5.5 approx.
This doesn't seem to buy us car for our money however.

Option 2- Pcp deals. I have seen the following for a new
Fabia Estate S 1.0 MPI 75PS

Duration: 36 months
Average miles per year: 10,000
My Deposit: £1,000.00
ŠKODA deposit contribution:+ £2,000.00
35 monthly payments of: £169.99
Retail cash price: £13,195.00
Acceptance fee:* £0.00
Optional final payment: £4,877.10
Option to purchase fee:** £10.00
Total amount payable: £13,836.75
Total amount of credit: £10,195.00
Excess mileage (per mile):*** 3p
Representative APR: 2.9% APR
Rate of interest: 2.82% (fixed)

This option gives us a much better car but I'm aware we pay more on the long run. But the potential to change in 3 years so no repair bills etc.

Any advice greatly appreciated!

:beer:

The dealer is not giving you ANY discount on the car itself - there should be around £750 of discount in there.

(this discounted price includes the £2,000 contribution)

https://www.drivethedeal.com/buy-a-new-car/SKODA/FABIA_ESTATE/1.0_MPI_S_5dr_67019.html?Capid=67019&type=discounted

If you're not fussed on cars, a Dacia will be cheaper and have a better warranty.

As will a Hyundai or a KIA

motorguy

Like others have said though, if you were otherwise happy with a 2003 car, why now are you looking at a brand new car that you're committing to keep for only 3 years?

£5,000 would buy you perhaps a 2012 Focus, which you could pay off over 3 years and then run on for a further 5-6 years with no payments?

Baileyuk

Thanks all for the replies!

Regards our current car.. I've spent around 500 attempting to get it fixed at two garages, however no joy. The engine cuts out as you are driving and it's not safe for my wife and baby. I could keep trying to find the fault however we've lost confidence in it now as well as outgrown it. So it's time to go.

My disposable income is fine but we have always chose to spend our money on holidays etc rather than cars. We don't do a lot of miles. Both commute on the train so only minimal week usage and more at wknds.

The original plan was for option one so I shall listen to your words of wisdom. I think the lure of a shiny new car wooed us in a little. With the thought we could maybe swap it every 3 years. I agree however the variables are too great so a dose of realism was required! Many thanks.:beer: