Car PCP Coming to an end

Niv

My PCP is ending son and there is no question i will be paying the balloon payment and keeping it.




In my case it was approx. the same cost to buy a 12month old car or get a new car on PCP however I do not expect this scenario to occur very often and new cars have never been a big pull for me.

saveupandbuy

A new car every 3 years is just crazy, what is the point? ten grand you've paid not only is it still not yours but you are under the thumb of the guy with the clipboard. At least your neighbours will think you are rich because you've got a new car.

Get a cheap £1500 runabout.

Niv

saveupandbuy wrote: »

A new car every 3 years is just crazy, what is the point? ten grand you've paid not only is it still not yours but you are under the thumb of the guy with the clipboard. At least your neighbours will think you are rich because you've got a new car.

Get a cheap £1500 runabout.

Bit of a generalisation, doesn't work for everyone. I have to have a car that has done under 100k and is less than 7 years old. The OP has gone over their mileage so we don't know how they use their car. I need a reliable vehicle to drive long(ish) distances regularly, I cant have it getting little repairs multiple times throughout the year.

molerat

Some people like to go on flash holidays and some people like a nice car, 20 fags a day costs more than a nice car. As long as it is affordable what is the problem ?

SallyDucati

saveupandbuy wrote: »

A new car every 3 years is just crazy, what is the point? ten grand you've paid not only is it still not yours but you are under the thumb of the guy with the clipboard. At least your neighbours will think you are rich because you've got a new car.

Get a cheap £1500 runabout.

But that's just how you (and OK a lot of MSEers) think about cars. I like cars, I get bored in 3 years and get an 'itch' to change. Yes It costs money but it is how I choose to spend my money. I also spend over an hour each way commuting to work, so want something as nice as I can reasonably afford to travel in.

Danipat

I cant answer the question but I just wanted to add. I recently sent my lease car back. It had a few scratches, a couple of car door dents and I was expecting to be charge and I wasnt it all came under the fair wear and tear, so maybe it wont be too bad.

saveupandbuy

SallyDucati wrote: »

But that's just how you (and OK a lot of MSEers) think about cars. I like cars, I get bored in 3 years and get an 'itch' to change. Yes It costs money but it is how I choose to spend my money. I also spend over an hour each way commuting to work, so want something as nice as I can reasonably afford to travel in.

I love cars, I just hate PCP and what it does to people, they are tempted by the fact they can have a brand new car half on the pavement outside for just the price of the last few hundred quid of their wage every month, let the house fall into disrepair, credit cards maxed out, no Christmas fund ..it all goes to the 4 wheeled finance agreement outside.

If you can genuinely afford it knock yourself out.

badmemory

And what will you do when they stop these PCP loans. As they will eventually. They are only another payday type loan after all.

bris

timmy_g123 wrote: »

as it'll take me a good few days to withdraw that amount of cash from an ATM.

Suggestions welcome

Hers a crazy suggestion, go into the bank and take it all out at once...

SallyDucati

saveupandbuy wrote: »

I love cars, I just hate PCP and what it does to people, they are tempted by the fact they can have a brand new car half on the pavement outside for just the price of the last few hundred quid of their wage every month, let the house fall into disrepair, credit cards maxed out, no Christmas fund ..it all goes to the 4 wheeled finance agreement outside.

If you can genuinely afford it knock yourself out.

Well yes people who can only afford it by letting their house fall into disrepair and maxing out credit cards are obviously overstretching themselves. I just think there is place for PCP as long as it is affordable. MSE temds to mainly hear from the people that got into it not being able to afford it in the first place.