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PCP Question

2»

Comments

  • marlot
    marlot Posts: 4,976 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    KevBristol wrote: »
    ... £7500 on a PCP of £130 per month over 4 years at 9.5 percent APR....
    That's rather a high rate. If you really, really need the car then I'd suggest looking at alternative sources of lending.
  • marlot
    marlot Posts: 4,976 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    KevBristol wrote: »
    ...it would be no problem to trade in the car after two years ....
    No problem for the salesman. Indeed quite a decent money earner!

    A different story for you though.
  • motorguy
    motorguy Posts: 22,619 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    marlot wrote: »
    That's rather a high rate. If you really, really need the car then I'd suggest looking at alternative sources of lending.

    Thats a typical used PCP rate. BMW charge 10.9% APR on a used car PCP, but as low as 2.9% APR on a new car PCP.
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