End of PCP Deal

WellKnownSid

Choosing the right spec - often a mid-spec - can often be cheaper per month.  Case in point the run-out Duster...  The trick is always to find that sweet spot.  Avoid the options list, this just adds to the invoice without impacting the GFV.

flossymcfly

motorguy said:

DullGreyGuy said:

The balloon is whatever it says it is, mileage, condition etc is totally irrelevant if you decide to keep it. 

When deciding if to keep it or not you'd need to consider the actual value of the vehicle, the balloon payment, any likely penalties or the trade in value. When our PCP ended the balloon was massively more than the value of the vehicle even factoring in we were about 50 miles over the limit the slight excess mileage charge and the one bit of damage outside of tolerance it made no sense to pay it so it somewhat reluctantly went back. 

Most recent PCP deals (ie, in the last 3-4 years) have ended up in notable positive equity at the end of the term, as car values have went up so much.

Worth checking of course, but i suspect it'll be worth more than the residual.

Like yourself we'd a car some years back whereby the residual was £18K and the car was worth £15K.  It was a real shame as we loved the car, but it would have made no sense to pay the balloon.

From checking a few places the residual is £5k and the balloon is £5300...not too far off but it would be the monthly payments of a new car that would get us. It's a 7 seater we need and we got a really good deal on this one during covid.

Thanks everyone for your thoughts. An electric car definitely isn't the way for us at the moment, I just don't think the infrastructure is there yet, got family members with them and a journey back from Manchester to Glasgow recently took 10 hours as they had to stop to charge, all the spaces were gone so they had to wait. Not something we want to do with 4 young kids