PCP- Car finance - NEW car- what is included

Mercdriver

daveyjp wrote: »

If you are still learning spend the next 3 months doing a lot more learning about PCPs.

The key one being how do you know you have a good deal?

These are all the elements of a PCP which can be manipulated to make you think you have a good deal.

Cost of car
Trade in
Dealer contribution
Finance deposit
Length of loan
APR
Balloon payment

In what could be a two hour negotiation any and all of these can be changed very quickly and all they will talk to you about is 'cost per month'.

Then they will talk about GAP, service plans, tyre insurances, minor damage insurance and 101 other things.

If you don't know the detail you will be a lamb being led to the slaughterhouse.

I find sales people tend to talk in weekly terms. So a car that £200 a month is less than £50 a week - £46.15 a week. When I try that I always express surprise that they take weekly payments. When I am corrected I then tell them to stop talking in weeklies or I walk. I have walked a few times

twhitehousescat

52 weeks in a yr , only 12 mths in a year = £200 extra

macman

OP, do you actually need a new car? Are you aware that the depreciation over the life of a 3 year PCP is in the region of 50%? Better to buy a 2 year old car which someone else has already taken the big hit on, and it still has at least 1 to 3 years warranty left on it, depending on the brand.
And, in case you are wondering, the petrol for 10K miles per year isn't included in the PCP cost either...

dogshome

You hold the whip hand till the cash changes hands - Check the boot.


If it's equipped only with a can of Gunk to try to re-inflate a punctured tyre, tell the dealer you want a complete spare wheel, albeit only a space-saver , with a jack and wheel brace, otherwise the deal is off.

Arsenal2019

Update guys.
The car I want , they have in. It’s getting made at the moment and will be ready in up to 6 weeks once order is placed. HOWEVER, they say they only have the one in production at the moment - Ford Fiesta St Line 1.0 eco.
Is the salesman chatting out of his back side to try rush / persuade the sale or could he be telling the truth