how to sell a car that has PCP finance?

ratrace

onomatopoeia99 wrote: »

Blimey. When I was 20 I was running around in a 14 year old Morris Marina that cost me £500 to buy outright. Now I'm 50 I'm driving a car that is coming up to its 20th birthday which I've owned for nearly 16 years,.

Now I know that the build quality and life expectancy of a car built today is much better than a BL car from the mid 1970s, so why does everyone need a new / nearly new car nowadays, especially those barely out of their teens?

Its bizzare it really is, we did an experiment just for a bit of fun at the garage i work at, what we wanted to see out of 7 days is how many hours we spent driving our cars the point of the exercise was to determine what a waste going into debt for cars was

My result out of 168 hours in a week (7 days) i only used the car for 13.5 hours

Monday to friday, approx 35 mins to work - 50mins back from work + about 20 mins after work a few errands = 105mins x 5 = 252 mins
sat 180 mins sunday 120 mins
total use for the whole week = 13.5hrs of use out of 168hrs

and the results were similar with the lads at work give or take a few hours

so as we can see it really is a waste of money to go into debt for a car that you are only going to use for approx for 10% of month but pay 100% for the privilege

Im not against having a nice car, as i have a bmw m3 but i paid cash for it, took me about 5 years to save for it, all i did was to put the equivalent of a pcp payment away every month till i had the cash to buy it, but i am against people going into debt to buy one and after the pcp ends having nothing to show for it, but heh ho live and let live


Do people really need to be driving expensive cars that puts them into debt just for them to be sitting works car parks all day not really but these are the same type of people if the price of milk goes up by 10p they start a riot, i see this at work all the time people bringing in expensive cars for repairs and want you to put cheap chinese parts on them, its all about the show and how they look on the outside but internally the begrudge paying for anything thats the truth had a chap in an audi who bought a used brake caliper from a scrap yard because he got it £25 cheaper than the recon one we was going to get but heh whos going to know as long a we look loaded on the outside that what matters long post bit of a rant lol

DavidT67

Just worth noting that the voluntary termination point for most PCP contracts is in all likelihood in the last month of the agreement, due to the large ballon payment and small monthly payments.
So once you've signed up, you're in it for the duration...

saveupandbuy

How many streets of unkempt terrace houses have we driven down with overgrown gardens and broken fences with lines of '19 plate Sportages/A3's/Discoverys parked outside sitting there like lemons, its not like the cars are their pride and joy as you never see them washing or polishing them but hey they're not their cars ..and once the novelty wears off they want rid and a new shiny toy.

Edit: sorry OP not getting at you personally, after all this is a money saving site, you will thank us one day. Your mates have nice cars but its all a front.

Missus_Hyde

Ebe_Scrooge wrote: »

My first car was a 1968 Mini Countryman - the one with the wooden frames around the back windows. Cost me £350, and was 18 years old when I bought it - I distinctly remember because it was built in the year I was born. Loved that car, and it lasted me 3 years.

And even now I drive older cars, usually around 7 - 10 years old when I buy them, and (touch wood) they've always lasted me really well.

My first car was a 1972 Mini Clubman estate; I had it for years and loved it like a brother.

We're now running a sixteen year old Yaris, which is the most cracking little car; it usually sails through the MOT with very few problems and hopefully is good for quite a few years yet.