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PCP with big deposit
Comments
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On a PCP? I have seen this on Conditional Sale, but never on a PCP.ontheroad1970 said:
In the past, Mazda's 0% deals have specified a 50% deposit, so they do exist.bazzyb said:
Depending on who the lender is, the maximum deposit allowed on a deal like that will be around about the £10k mark, possibly up to £12k. I'm not aware of anyone who would allow a 50% deposit on a PCP deal.AdrianC said:
So you'd be looking at £17.5k upfront + £13k balloon leaving about £5k+interest to pay on the monthlies.MX5huggy said:
Figures are a bit muddled ATM I think the PCP has about £1500 discount. APR is 2.9% cost of credit £2700 on £35720, £495pm x 47 + £2000 deposit + £13129 final0 -
I've never seen them do 0% with 50% deposit on a PCP deal. Moreoften straight financeontheroad1970 said:
In the past, Mazda's 0% deals have specified a 50% deposit, so they do exist.bazzyb said:
Depending on who the lender is, the maximum deposit allowed on a deal like that will be around about the £10k mark, possibly up to £12k. I'm not aware of anyone who would allow a 50% deposit on a PCP deal.AdrianC said:
So you'd be looking at £17.5k upfront + £13k balloon leaving about £5k+interest to pay on the monthlies.MX5huggy said:
Figures are a bit muddled ATM I think the PCP has about £1500 discount. APR is 2.9% cost of credit £2700 on £35720, £495pm x 47 + £2000 deposit + £13129 final0 -
I suggest going to manufacturer rather than a dealer. Husband did his through Volvo and deposit was only about £2k on a limited edition V600
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The simplest way is probably to negotiate the cheapest possible price and then buy the car just take the PCP with whatever arrangement solicits the largest "incentive" from the Dealer / Manufacturer. Once the finance has started, make an overpayment of whatever spare cash you have remaining to reduce the interest that will accrue.1
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His deposit is £2k.MrsStepford said:I suggest going to manufacturer rather than a dealer. Husband did his through Volvo and deposit was only about £2k on a limited edition V60
Out of curiosity, how did he approach the manufacturer for a PCP deal? I would have thought they would have directed you to a franchised dealer1
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