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For saving money, is PCP ever a good idea?

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I’m buying a car for £80k. I have £80k in cash (when you include my £50k trade-in) but people always seem shocked that I buy cars outright rather than on some form of finance. Is that because buying outright is a silly thing to do or that buying cars one cannot actually afford is the norm these days?
Is it ever a frugal idea to get PCP? I can’t think that I’d be able to invest the money in something in the meantime that would cover the interest and earn me more money.
Is it ever a frugal idea to get PCP? I can’t think that I’d be able to invest the money in something in the meantime that would cover the interest and earn me more money.
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Money saving is not about only ever having the bare minimum, but having what you want and can afford in the most efficient way.
With a PCP, you will pay interest and, as the OP says, to actually invest and recover more than that is unlikely, especially when tax is considered as well.
Generally, if you can afford to buy cash, then taking out finance is not MSE. That applies to PCP.
The exception is if the PCP comes with an incentive, either a discount, or free-fuel offer, or servicing, or whatever. In that case, it is worth taking the PCP, securing the incentive and then paying down the finance. I suspect that type of incentive is less-readily available on cars of the £80k mark, especially in the current crazy car market.
So, we are reaching the point that we can conclude that PCP is less attractive than just buying the car.
One other, and I think rare, exception, was some lease deals (not PCP) available summer 2021 where the lease cost over the term was less than depreciation on a new car would be. I do not think such deals remain available now.
Good luck and hope you enjoy the new car, OP
By the way, what is it that you are getting?
EDIT: what will the insurance be given the recent deer and speeding incidents?
We’ve not gone through insurance for the deer damage (was only a few hundred pounds) and never had any speeding incidents, so insurance should be fine.
PCP's are great for a lower fixed cost, but you pay a bit more in interest over HP. But the finance part is the same; are you better borrowing that £30k or taking it out of savings? Are you getting more for the savings than the PCP?
Unless the APR is very low, there is very little that will provide a guaranteed return over a 3/4-year period. Anything would come at the cost of substantial risk to your capital.
If it breaks, well it wasn't working right anyway.
The PCP deal was 8.9% and overall added £9k to the purchase price.
So I’m not missing anything. When I bought my current car a couple of years ago, a work colleague assumed it was PCP. When I said it was cash they were shocked and said it was a bad move and you should never buy a car cash, always on finance. Never worked out why he thought that.
I shall pay cash and be content I’ve done the right thing.
PCP is a great product for putting your backside into a vehicle that you otherwise could not afford. It is not particularly cheap and at the end of the agreement and all those payments you own nothing. Personally, never seen the point in that.