Bigger deposit or no car finance?

Crampo

Unfortunately I’ve recently been left some money due to a death in the family, somewhere in the region of 55-65k. i plan to initially pay off around 7k of dept but then I’m im full left with a car on pcp. A was looking at changing said car anyway but I was just wondering if it is more Beneficial to buy you a 20k ish car outright or just carry on with pcp and save the money for a bigger deposit on a house.
Any advice will be greatly appreciated

messes

What percentage of your income per month does the car payment take? If you have enough disposable income outside of this to afford the mortgage payments (with spare in case rates rise) then the car payments shouldn't be a problem and the money would be more useful for the deposit.

Also do you really want to purchase a car from a PCP scheme? You'll be paying all the interest, better I would think to let it run it's term or terminate at a safe point and buy a car in cash if you want to own one.

Crampo

I’m lookimg at buying a house in about 18months or so. The car finance would be about 17.5% of my monthly income. I got the pcp when I was younger and stupider. I need to change cars due to family circumstances....(a big dog not a child)