PCP isn't MSE

thegentleway

My mum just bought a fairly newish i20 and despite her being able to pay for it in cash the salesman tried to sell it to her on PCP on the premise that petrols/diesel are going to be worthless soon with the electric revolution...

BOWFER

thegentleway said:

My mum just bought a fairly newish i20 and despite her being able to pay for it in cash the salesman tried to sell it to her on PCP on the premise that petrols/diesel are going to be worthless soon with the electric revolution...

It's perfectly sound thinking.

BOWFER

powerful_Rogue said:

£8500 over 3 years and nothing at the end to show for it. 

She has had three years use of a car.
I don't see why some people have a problem accepting this, it's like they want their cake and eat it.
They enjoy the (usually) stress free experience of a new car under warranty, but then moan about not having anything at the end.
She was paying £230 a month (£8500 / 36). it's basically £55 a week for a car that won't need repairs.
I see that as a flipping bargain!!
Do people moan about holidays in the same way?
Pay £1500 for 2 weeks and nothing to show at the end of it?

Sea_Shell

BOWFER said:

powerful_Rogue said:

£8500 over 3 years and nothing at the end to show for it. 

She has had three years use of a car.
I don't see why some people have a problem accepting this, it's like they want their cake and eat it.
They enjoy the (usually) stress free experience of a new car under warranty, but then moan about not having anything at the end.
She was paying £230 a month (£8500 / 36). it's basically £55 a week for a car that won't need repairs.
I see that as a flipping bargain!!
Do people moan about holidays in the same way?
Pay £1500 for 2 weeks and nothing to show at the end of it?

Maybe this is the shift in thinking required.

Your no longer buying a tangible "thing", you're buying an "experience"!!

Grumpy_chap

It's funny that this thread came back to life today as I saw an article confirming the London ULEZ expansion for October.  It will then cover very residential areas and the charge is £12.50 daily for 7 days/week. 

For a regular driver into the area, say 20 days/month, that makes £250 for which you can get a new car on PCP (assuming you can somehow afford the £250).  The PCP would require paying (or negotiating away) the deposit but the balloon payment is avoidable as the driver regularly going into London probably won't be covering a particularly high mileage.

Though, if you can pay the PCP deposit, there are some more fun ways of going ULEZ-compliant and avoiding the charge:
https://www.autotrader.co.uk/car-details/202105202866249
https://www.autotrader.co.uk/car-details/202105212899926

fred246

Better just keeping away from London.

motorguy

Sea_Shell said:

BOWFER said:

powerful_Rogue said:

£8500 over 3 years and nothing at the end to show for it. 

She has had three years use of a car.
I don't see why some people have a problem accepting this, it's like they want their cake and eat it.
They enjoy the (usually) stress free experience of a new car under warranty, but then moan about not having anything at the end.
She was paying £230 a month (£8500 / 36). it's basically £55 a week for a car that won't need repairs.
I see that as a flipping bargain!!
Do people moan about holidays in the same way?
Pay £1500 for 2 weeks and nothing to show at the end of it?

Maybe this is the shift in thinking required.

Your no longer buying a tangible "thing", you're buying an "experience"!!

I think most peope who PCP or lease have made that shift in thinking already.  They're paying a set amount per month for something that provides a function (and experience) for them.  They're not particularly interested in owning the car.

motorguy

Grumpy_chap said:

It's funny that this thread came back to life today as I saw an article confirming the London ULEZ expansion for October.  It will then cover very residential areas and the charge is £12.50 daily for 7 days/week. 

For a regular driver into the area, say 20 days/month, that makes £250 for which you can get a new car on PCP (assuming you can somehow afford the £250).  The PCP would require paying (or negotiating away) the deposit but the balloon payment is avoidable as the driver regularly going into London probably won't be covering a particularly high mileage.

Though, if you can pay the PCP deposit, there are some more fun ways of going ULEZ-compliant and avoiding the charge:
https://www.autotrader.co.uk/car-details/202105202866249
https://www.autotrader.co.uk/car-details/202105212899926

I'd have that Merc, particularly given it has the v6 3.0 petrol engine.

thegentleway

BOWFER said:

thegentleway said:

My mum just bought a fairly newish i20 and despite her being able to pay for it in cash the salesman tried to sell it to her on PCP on the premise that petrols/diesel are going to be worthless soon with the electric revolution...

It's perfectly sound thinking.

🤦‍♂️ No it’s not. She doesn’t need to replace her car in 3-4years time let alone worry about resale value

Cornucopia

thegentleway said:

🤦‍♂️ No it’s not. She doesn’t need to replace her car in 3-4years time let alone worry about resale value

She doesn't have to replace the car in 3-4 years OR worry about the resale value.

The only thing she HAS to do is (a) enjoy the car, (b) resolve the outstanding finance when it becomes due.