PCP - New Car

mercman_3 · 22 June 2005 at 12:28AM

Am considering buying a new car on PCP

does anybody have any experience of this

who is best to deal with

regards

Pete

The_Trevsta · 24 June 2005 at 12:08PM

Hi,

I really does vary... depending on what car you want and its price.... i work for Subaru not in selling cars but IT. When i talk to some of our dealers they approach it 2 ways they can get you a car with minimum monthly payment but large balloon payment at end, or the do higher monthly payments and less to pay off on the ballon payment.

so kiddies who want a WRX or STi get one for around 250- 300 quid a month... but like 12,000 balloon figure after 3 years... which you give car back or take out another car...

Doesnt matter which car you are going for either way they can help you. and dont forget that the dealer gets a kickback from the finance company too

Trevsta...

fatboyonadiet · 26 June 2005 at 4:39PM

I'd say avoid it took a car out on the same sort of thing and for other reasons decided to get rid, couldn't sell it privately so had to part-ex it, luckily I got about what I owed BUT was told of stories about people who were worse off and people get a car on the same sort of agreement time after time and end up in a lot of trouble after a while. Would recommend either a personal loan or doing the 0% shuffle. Do a PCP only get's you in trouble - beleive me, got a car for £18,500, part ex'd it for £10.5 and owed £11k, as well as having wasted £350 a month non payments. I will OWN my current car in about 2 years, BUT am going to switch the loan to 0% cards soon to save on my interest being paid.

PCP - New Car

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