HP V PCP

Nicola98

When I calculated me getting a used and approved car I would be paying more and the interest rate would have been higher so I decided to get a brand new car.

This is my first finance

Mercdriver

Nicola98 wrote: »

When I calculated me getting a used and approved car I would be paying more and the interest rate would have been higher so I decided to get a brand new car.

This is my first finance

Did you not think about a personal loan not secured on the car and buy something a year or two old, so that someone else gets the depreciation hit, and the car is yours from day one?

Nicola98

I am thinking of that however with a used and approved car, I’m still getting declined so I’m just gonna have to take the time and improve my credit score

I am currently on 502/999 on Experian

motorguy

Jonesya wrote: »

A slightly older car, 3-4 years old but still under manufacturers warranty, much cheaper because someone has paid the depreciation, still reliable and under warranty, much better deal and much less debt/finance needed,

3-4 years old is considerably older and most cars will be out of manufacturers warranty by then.

motorguy

Mercdriver wrote: »

To get 0% deals you need a very high level credit record. Just because someone's income is high doesn't mean that their costs aren't.

You dont. No more than you would with a regular PCP deal anyway.

0% finance deals are subsidised by the manufacturer, so its just another form of incentive like a "finance contribution" or a very low rate APR.