Peugeot e-2008

PeterJames123

Hi, 

We are torn between Lease and PCP for our first can and was hoping for some advice. The car we are looking at is the the Peugeot e-2008 we have good credit history and the deal we are getting for leasing is 2 years, 10k miles £3577.68 upfront and then 23 x payments of £298. which works out to be £10434.9 over 2 years. 

If we go down the PCP route for the same deal or we were just offered this where we have an option to buy the car but I am not sure if it will end up just us giving it back after the contract is over and we will have no value in the car. 

• Finance ProductPassport
• 24 Monthly Payments£543.11
• Customer Cash Deposit£4,050.00
• Peugeot Deposit Contribution£2,150.00
• Total Deposit£6,200.00
• Vehicle Price (OTR)£37,215.00
• Passport Price Inc £0 Roadside Assistance£37,215.00
• Total Amount of Credit£31,015.00
• Optional Final Payment To Buy£21,105.00
• Total Charge For Credit£3,124.64
• Term Of Agreement25 Months
• Total Amount Payable£40,339.64
• APR5.9%
• Fixed rate of interest5.90%
• Excess Mileage Charge10.8ppm
• Mileage Per Annum10,000

SaverRate

Okay so the PCP is costing you £38189.64 over 2 years including the balloon payment. If you dont intend to keep it for more than 2 years then providing you sell it for £27754.74 or more you are better off going with PCP. (Cost of PCP minus cost of lease).

First off is the PCP the best possible PCP you can get? the same with the lease deal? Have a look at Carwow/autotrader or similar for both as you might get a better deal. 

Having looked at Autotrader a 70 plate (1 and a half year old) e-2008 with 10k miles is £28k. Unfortunately they dont have a 2 year old car with 20K miles on there but could a 2 year old with 20k miles be worth less than £27754.74? If so you may be better going with the lease. 

Only issue with the lease is could they deduct money for any damage etc? 

Does the PCP have a guaranteed minimum value after 2 years? If so what is it? 

Dont just hand the car back if you do go with PCP check the selling prices on WBAC, Motorway, Evan Halshaw etc as they can settle any remaining finance on the vehicle and normally you get more money doing it this way that trade in/hand back with the original dealership. 

Grumpy_chap

PeterJames123 said:

the deal we are getting for leasing is 2 years, 10k miles £3577.68 upfront and then 23 x payments of £298. which works out to be £10434.9 over 2 years. 

Not commenting on the lease or PCP choice, but that initial payment for a lease is very high.

Normally lease initial payment is expressed as 3 months, 6 months or 9 months (3+23, 6+23, 9+23).  So, that would be an initial payment as low as £894.

12 months upfront is not common.

born_again

• Fixed rate of interest5.90%
• Seems very high..

Have you looked at the likes of carwow?

[Deleted User]

I can’t believe the price of cars nowadays. £38k for a Peugeot seems outrageous and a small Peugeot at that. 

That’s luxury car money in my book. 

Petriix

I'm curious as to how you arrived at the e-2008 as your choice of EV. I'd strongly recommend at least having a test drive in some of the better value compact SUVs like the MG ZS (long range), Kona and E-Niro which all have vastly more range in the real world. Lots of people have been struggling to get even 100 miles from the Peugeot on the motorway in winter.

There were some really exceptional value lease offerings for the ZS at around £260 per month on a 1+47 basis in the autumn. I haven't looked recently but I can't imagine they're anywhere close to the price of the e-2008.