Car PCP Finance

[northernladuk]

That is a hairdressers car. I had the sunburst orange one in 2000

Edit - If you're talking anything less than the 2.7, then it's not even a hairdressers car.

No one in their right mind would consider a Hyundai Coupe as a flash car.

[TestMangler]

No one in their right mind would consider a Hyundai Coupe as a flash car.

A hairdresser might

[psychocandy]

No one in their right mind would consider a Hyundai Coupe as a flash car.

It did "look" ok

[psychocandy]

That is a hairdressers car. I had the sunburst orange one in 2000

Edit - If you're talking anything less than the 2.7, then it's not even a hairdressers car.

Twas the bog standard 2.0.

The F1 2.7 was nicer but cost more.

[ASB]

"£400-450 (depending on deposit) will get you a 320D Sport Xdrive based on 25000 miles a year"

It is often better (i.e. cheaper) with both PCP and PCH to take a lower contracted mileage and pay the excess. But you do need to see the contract to check rather than just accepting Xp per mile over since excess mileage rates can in some cases be graduated.

I had a mate who took a diesel merc on an 8k a year contract and did approx 200k in it in the next 3 years. To say MB were unimpressed would be an understatement but he just paid up the excess mileage which was way cheaper than taking it on a 60k cotract to start with.

[dty]

We've got a new car arriving any day now...

Instead of doing the manufacturer/dealer PCP for 3 years, we got a personal loan from First Direct (3.6%) over 6 years. The payments are roughly the same (within £10 pcm), but after 3 years, the balance on the FD loan will be around £1500 less than the GMFV of the PCP. In other words, we'll have £1500 more equity in the car, or £1500 less to find if we want to buy it outright. We also have more options open to us in terms of keeping hold of it for a few extra months, or letting it go early, etc. We also don't have to worry about punitive excess mileage charges (although high mileage will affect the value, of course, but not as much as the PCP excess mileage charges), or the tiniest little stone chips that PCP companies often hold against you. The only down side that I can see is that if the car is worth less than everyone expects, we have no option to walk away from the negative equity.