PCP/balloon payment loan for car

AdrianHi

From what I've read elsewhere with people's experiences the finance company that gets burnt by you handing the car back half way won't take your business a second time.
May be you can live with that

Doozergirl

If you do give up the car then you might miss out on some equity as well when you come to the end of the term as well, so it's swings and roundabouts.

I have PCP on my MINI - no surprise it's part of BMW Finance and the excess charge is 2.79p per mile which isn't bad in my opinion. I put down a small deposit on my car last year and within 14 months, the value of the car and the amount I owed on it were pretty much identical. In theory, if I'd stuck with the three year term, I'd have enough equity to cover any excess mileage and a new deposit.