Basic pre pcp info

Cornucopia wrote: »

I suspect you'll find that prices are similar. However, I think that the bulk of the comments are about the expense of the PCP, not of the car as such.


That IS how the car market works, whether we use those terms or not. The fact is that a PCP works by only paying off the depreciation component of the vehicle's cost, not the remainder (that is left as the balloon payment). The car will always be worth the difference between its market value and whatever settlement cost is applicable at the time. Many PCPs will result in negative equity during the early-mid stages of the term. This is a direct consequence of how they work.

I think if you told us a little bit more about what you are trying to achieve and why, then we might be able to give you some advice about saving money on the deal (or through a different deal). That's what MSE is about, really.

As an example, you talked about 0.9 and 1.2 litre engines, which suggests a small Renault/Nissan/Dacia. The current Renault offer on a basic Clio is a 0% PCP with £169 deposit and £169pm. Part of the nature of PCPs is to blur the cost-distinction between new and used (and that's why the manufacturers and dealers like it).

I thought I mentioned in an earlier reply that I wont get what I call 'headline rates'
New Clio's you mentioned are also advertised at the dealership I plan to use and have used a few years earlier for 01|+02 plate clios'
With my credit rating sill slowly recovering since 2012 -that's why I'm happy to pay higher apr rates =higher overall costs -maybe past 2022 my rating will begin to return to what it once was , no negative info-the cost of 2011 unemployment (I had 0 savings which didn't help)
I think the new Clio's would be high 229 or 249 if It got an offer at all as a guarantee was required when a new Clio was offered 2014 (when I then bought 2011 @20+apr -hp)

My decision now is Non PCP it is since HP -2015 Clio 65 plate 7k miles -2 years service =2 yrs mot
184*60
11040
HP
Idea is I could trade in after 3 years if required/
Or
Search for a lower cost car -another Clio aim to keep payments lower -which means to me another Clio which could have higher mileage closer to my current 36k -defeats the purpose.
Either way I could gain .9 Clio preferably low lower mileage (7k) -2 services +mot;s-and no concerns about getting left with a high mileage car in 2-5 years .
I predict my mileage could be 5 years *9k miles p.a. 45k approx -max quite possibly less

Managed to get to evening time without making a decision as yet.
Return to work tomorrow limited time if I make a decision at all tomorrow until Fri/Sat.
Checked we buy any car- (I did plan to trade in my car though noticed it could fetch 5230 max via wbac)-this could leave between 500-600 to myself after existing finance is paid off.
Not sure if me NOT trading in my car as part of 2015 purchase effects car purchase cost at all particularly on a monthly basis -do dealerships price in trade ins when they arrange finance through their chosen company -my quote was from 'Starline motor finance) -never used them or heard until todays callback.

Thanks mser's Agreed costs are high age is older than some previous Clio's.
Credit rating was Excellent considering I managed to get a new mortgage in 2009 to move to my current flat-from 1st mortgage from 2003.
It hasn't all been bad at all-not amazing lifestyle though quite and pieceful.
If possible would someone like to guess or estimate if there is going to be 2-3k value to trade 2015 car in 2018 -meaning could I possibly have enqough trade in value to clear off finance and move over to another car if required -then possibly rating could continue to improve for lower terms and favourable apr's as I once had.
The no warranty question is important, would gap policy for 1st 3 years suffice -I read a link form mse earlier where gap is only 100 pounds or dealership[ I think is from 8.99 per month.
I have benefited from Free servicing from two dews Lersch IP's on 2 year service packs -the cost is offered on car purchase -mines 2 year included in quoted 184*60
Means MOT certificate /No additional Service cost other than additional work if required/wear+tear.
From last weeks service pack -2nd year -2 rear tryres required -budget low cost offered and fitted -no additional costs.